Ofgem has dramatically cut the level at which it allows energy networks to recover the costs of financing their networks during the next price review period. From 2020/21 energy networks will have an assumed cost of equity of 4% (subject…
Author Archive for New Power
SSE and Npower and the failed merger: devil in the detail
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The merger between retail functions at SSE and Npower has failed and maybe that’s no surprise. It’s perhaps the worst time for a merger of the industry’s big players – no matter how much both the players want the chance…
Hitachi signs deal to acquire ABB’s power grid business
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Hitachi has signed a long-discussed plan to acquire ABB’s power grids business. Hitachi plans to initially acquire an 80.1% stake in the business and expects to close the acquisition in the first half of 2020, making Power Grids a consolidated…
SSE Npower retail merger falls through
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Plans for a merger of Npower’s retail business and the domestic supply business of SSE Energy Services have fallen through. SSE said the merger is “not now in the best interests of customers, employees or shareholders to proceed with the…
Northumbrian Water teams with Argonaut for battery flexible power
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Argonaut Power, Ingenious’ flexible energy platform, and Northumbrian Water are to pilot the use of large scale battery storage the water company’s sites across the North East, Essex and Suffolk. The batteries are ‘second life’ li-ion units recovered from Renault…
From New Power Report: AMP invests in standby power
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Most of Aggregated Micro Power’s (AMP’s) business has in the past specialised in biomass boilers, and acquisitions in recent years enabled it to take charge of the supply chain for fuel, and to staff operation and maintenance for those plants.…
National Grid Gas tries to see into future as new users test gas network operability
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The gas system operator has asked for more information from users about gas use in future, as it tries to maintain gas pressures in the system. National Grid Gas has warned in recent ‘operability’ documents that it may not be able…
Tempus Energy chief: Capacity Market auctions will have to be re-run
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It is misleading for climate change minister Claire Perry to tell Capacity Market (CM) participants that payments under CM contracts will resume, according to Tempus Energy founder Sara Bell. CM contracts were suspended and payments halted after the European Court…
Energy efficiency fund joins Stock Exchange
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SDCL Energy Efficiency Income Trust (Seeit) has begun trading on the main market of the London Stock Exchange, claiming to be the first such company to focus exclusively on energy efficiency infrastructure. On 7 December the company announced it had raised…
Welsh government to outlaw fracking and extraction of coal bed methane
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Fracking will not be permitted in Wales, Lesley Griffiths, cabinet secretary for energy, planning and rural affairs in the Welsh Assembly has announced. In addition, she said no new petroleum extraction licences would be granted. Wales took over petroleum licensing powers…