Author Archive for New Power

E.On confirms sale of Uniper stake to Fortum

E.On has confirmed it will sell its 46.65% stake in spin-off Uniper to Fortum for €22 per share. The  voluntary takeover offer was made on 7 November. When Uniper was spun off from E.On in 2016. 53.35 percent of Uniper stock…

OPINION: Legislating for a future with electric vehicles

An increase in electric vehicle ownership in the UK is becoming inevitable. Simon Sjenitzer, director – energy & climate change business development at WYG, asks: can legislation help our infrastructure cope?   Britain is investing more than £1.2 billion in electric and…

Toshiba sells Westinghouse nuclear plant unit to Brookfield

Toshiba has sold Westinghouse Electric Company, the nuclear company whose plant design is intended for construction in Moorside, Cumbria, to Canadian asset manager Brookfield for $4.6 billion. Westinghouse’s US reactor company is currently in bankruptcy protection after it was hit…

Capacity Market auction targets slimmed

Targets for capacity to be procured in the upcoming Capacity Market auctions have fallen slightly. Capacity to be procured for next winter (in the T-1 auction) has been cut by 1.1GW to 4.9GW. Capacity in the T-4 auction has been…

Upside Energy wins investment for cloud-based flex platform

Legal & General Capital and Systemiq have announced an investment in Upside Energy, a Manchester-based company that has developed a cloud platform that uses advanced algorithms and artificial intelligence to co-ordinate connected devices to deliver flexibility services to the energy system.…

Shell to acquire First Utility

Shell is to buy 100% of First Utility, subject to regulatory and other approvals. The deal is expected to complete in early 2018. Shell said its  energy supply, trading and marketing expertise, combined with First Utility’s experience, will enable First…