National Grid has agreed to sell a 60% equity interest in its UK gas transmission and metering business to a consortium of Macquarie Asset Management and British Columbia Investment Management Corporation. The plan to divest was first announced in March…
Author Archive for New Power
Bulb Energy bailout will cost £2.2B over two years, says OBR
by New Power • • Comments Off
The government’s bailout of Bulb Energy is set to cost £2.2 billion, this year and next and the risk is ‘potentially unlimited’, according to the Office for Budget Responsibility (OBR). In its Economic and Fiscal Outlook, published this week, the…
Spring statement: responses
by New Power • • Comments Off
Jess Ralston, analyst, Energy and Climate Intelligence Unit (ECIU): “Removing VAT on energy efficiency products such as insulation is an immediate boost for families facing soaring gas bills. But there are lots more tools within the Chancellor’s grasp for getting…
Scottish Power to exit industrial and commercial market
by New Power • • Comments Off
Scottish Power plans to exit the business supply market, Bloomberg reports. It said the exit would be gradual, but uncertainty in the industry was growing with the potential failure of a large Russia-backed supplier. Other reports say the future Gazprom…
Greenlink interconnector set to link GB and Irish grids in 2024
by New Power • • Comments Off
A new interconnector will link the Irish and GB markets at the end of 2024, after Greenlink Interconnector Limited (GIL) announced financial close on the €500 million project. Partners Group, which owns Greenlink on behalf of its clients, said it…
Energy efficiency tops NIC’s list of ‘Urgent action needed’
by New Power • • Comments Off
“Gaps are opening up between aspiration and execution” of the UK’s National Infrastructure Strategy, the National Infrastructure Commission (NIC) has warned in its annual report on progress. It says, “Urgent action is needed” because “another year of slow progress would…
Select Committee presses for action to address fuel crisis
by New Power • • Comments Off
MPs on the Select Committee on Business, Energy and Industrial Strategy have written to BEIS Secretary of State Kwasi Kwarteng with concerns over whether the upcoming Spring Statement will address the energy crisis and give some relief to business and…
Instead of fracking, get the nation behind renewables and networks
by New Power • • 1 Comment
The national desire to cut down the use of gas, especially Russian gas (although it represents just a small part of UK imports) have led some to suggest that fracking for gas in the UK may be the answer. Well,…
Two new battery sites for Pivot Power
by New Power • • Comments Off
Pivot Power has won planning approval for two new battery sites in Luton and Cornwall. The EDF Renewables subsidiary will build the two new grid-scale battery facilities in Sundon, Luton, and Indian Queens, Cornwall. The 50MW/100MWh lithium-ion battery storage facility…
Ukraine’s electricity network stabilised by emergency synchronisation with European system
by New Power • • Comments Off
Today the transmission system operators in continental Europe have synchronised with the power networks of Ukrenergo and Moldova. The synchronisation was in response to an emergency request from the Ukraine on 27 February and Moldova on 28 February, which were…