Background on plans for Ofgem as announced in today’s budget. From New Power, January 2016 HM Treasury has signalled a shake-up among the UK’s independent regulators, with energy leading the way. The news came in a policy document titled “a…
Author Archive for New Power
Budget: CfD allocation £290m this year, £730m in this parliament; renewables hit again on CCL; Ofgem changes
by New Power • • Comments Off
The budget for Contract for Difference auctions over the course of this parliament will be “up to” £730 million, chancellor George Osborne announced in today’s budget. That would support up to 4GW of offshore wind and other less established renewables,…
CMA on governance: Ofgem to cost-out Decc policy decisions, drive industry change
by New Power • • Comments Off
The Competition and Markets Authority (CMA) has set out plans for a stronger role for Ofgem in scrutinising government policy and driving through industry change, saying that systemic problems with industry governance have caused “very substantial” detriment for customers. The…
RWE restructuring hits Npower; company warns of further decline in 2016
by New Power • • Comments Off
Npower parent RWE is ramping up plans to restructure and streamline its conventional power generation and UK supply businesses. In a move expected to cause 2,500 job losses in UK supply, the company has stepped up a planned €2 billion…
Competition on capacity, CfDs and services is the energy market’s future. Excluding low-cost renewables will drive up costs
by New Power • • Comments Off
Gordon Edge of RenewableUK says a recognition of how the new energy market works presents a solution to the government’s dilemmas on Contracts for Difference Government objectives for energy policy are that it must be secure, sustainable and affordable; decarbonisation…
Crowdfunding renewables: portable solar (storage included)
by New Power • • Comments Off
Renovagen has launched its second equity crowdfunding campaign on Crowdcube. The company wants up to £1 million to fund its “Roll-Array” flexible, rollable, transportable solar farm units. The units include energy storage. The company says its technology rolls out “18kW…
More debate on energy industry codes: Electralink wants ‘simplified and competitive approach’
by New Power • • Comments Off
Elizabeth Lawlor, head of governance services at ElectraLink, sets out the company’s proposed approach to reforming code governance The UK energy market is historically complex which is mirrored within supporting industry codes. Naturally, SmartestEnergy’s opinion piece in October’s New Power,…
MPs: energy policy shifts have hit investor confidence and will raise consumer costs
by New Power • • Comments Off
MPs: energy policy shifts have hit investor confidence and will raise consumer costs
Winning £2 billion benefit of storage ‘requires joint action on market frameworks’
by New Power • • Comments Off
Effective use of storage could reduce the costs of managing a highly variable electricity system by £2.4 billion per year by 2030, a new report has concluded. But to use storage most efficiently the interests of a wide variety of…
Capacity Market reform promises emergency auction for 2017/18, plus action on dirty diesels and non-delivery
by New Power • • Comments Off
An emergency Capacity Market auction will be held in January for delivery in winter 2017/18, the Department of Energy and Climate Change (Decc) said in a consultation on changes to the CM intended to improve security of supply and bring…