BEIS has opened its promised Net Zero Review saying that since last year’s Net Zero Strategy “the Russian invasion of Ukraine and other global factors have fundamentally changed the economic landscape in the UK, placing huge pressure on households and…
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NGESO offers two-month ‘amnesty’ for companies to surrender grid capacity to help manage connections queue
by New Power •
NGESO has opened a ‘TEC amnesty’, intended to reduce the ‘queue’ for connections to the grid. It is inviting companies on the so-called TEC Register (ie those that have Transmission Entry Capacity) to terminate agreements or reduce their capacity at…
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Octopus makes further offshore wind investment
by New Power •
Octopus Energy Generation is acquiring a further 15.5% stake in the 270MW Lincs offshore wind farm on behalf of the Sky fund and Octopus Renewables Infrastructure Trust. This increases the team’s total stake in the wind farm to 23.25%. Sky…
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Ofgem issues Scottish Power with provisional order over its support for customers who cannot pay
by New Power •
Ofgem has issued Scottish Power with a provisional order and told it to pause disconnections because it is concerned that the supplier is not dealing correctly with customers. It cites: • SP’s apparent failure to consider its customer’s ability to…
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Solar PPA helps finance merchant wind plant for NTR
by New Power •
Two renewables facilities – Murley wind farm and Ockendon solar farm – have been refinanced by infrastructure investor and asset manager NTR in partnership with Rabobank, which provided £38 million of debt. NTR said it has brought the two projects…
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Retaining insulation programme in 2013 would have cut taxpayers’ bill by £9 billion/year now, says ECIU
by New Power •
Taxpayers will pay up to £9 billion a year extra under the Energy Price Guarantee scheme because of government’s 2013 decision to cut support for home insulation, according to new analysis by the Energy and Climate Intelligence Unit. The savings…
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‘Digital twin’ companies to merge
by New Power •
Two companies that provide industrial software for companies digitalising their engineering and operations are planning to combine. Schneider Electric took a majority stake in Aveva in 2018 and has made an agreed offer to acquire the remaining shares. The two…
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Windermere looks forward to electric ferry as network upgrade begins
by New Power •
A £1 million investment in the power network around Windermere, Cumbria, will allow for installation of the first electric ferry on Lake Windermere. Electricity North West will start work upgrading and replacing 5.4km of underground electricity cables as part of…
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Good Energy renewables sell-off provides key cash buffer
by New Power •
Good Energy made a pre-tax loss of £700,000 in the six months to end June 2022, compared to pre-tax profit of £4.8 million in the period in 2021, according to interim results published today. That included an £800,000 loss in…