NGESO bought power from the Europe on 20 July at a prices of over £9500 because of a combination of lack of capacity around London and high prices in Europe because of power outages there, the system operator said. In…
Author Archive for New Power
MPs: Ofgem ‘incompetent’ in regulating retail market and government ‘overlooked’ its failings
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“Ofgem has proved incompetent as the regulatory authority of the energy retail market over the last decade,” the BEIS Select Committee says in its report on Energy Pricing and the Future of the Energy Market. Ofgem “did not understand the…
Seagreen foundations ready for journey to site
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SSE has released pictures of foundations being developed for its Seagreen offshore wind farm. The £3 billion Seagreen will be Scotland’s largest offshore wind farm and the deepest in the world attached to the seabed, when it is completed in…
NeuConnect link between GB and German markets reaches financial close
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The £2.4 billion NeuConnect interconnector – the first direct link between the UK and German energy markets – has reached financial close, paving the way for work to start later this year. Led by global investors Meridiam (France), Allianz (Germany)…
Norway’s hydro utility sees water value rise as it preserves reservoir levels for winter
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Statkraft has seen a rise in the value of its stored water, as the Norwegian company reserves supplies to feed its hydro power plants during the company winter. In a market update Chief Executive Christian Rynning-Tønnesen said, “The combination of…
Sizewell C granted development consent
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The Secretary of State has granted development consent for the Sizewell C nuclear power plant, to be sited adjacent to Sizewell B in Suffolk. The application was submitted to the Planning Inspectorate in May 2020 and the inspectorate had advised…
Seagreen 1 OFTO shortlist announced
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Three consortia are in the running to own and operate the transmission link to the Seagreen 1 offshiore wind farm, under Ofgem’s OFTO framework. The three groups will participate in the invitation to tender (ITT) stage of the Seagreen Phase…
Derogation agreed to allow six offshore wind farms to proceed in parallel with discussion over managing adverse effects
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Six fixed offshore wind projects have been given the green light by the Secretary of State for Business, Energy and Industrial Strategy, with no objections from the Welsh Government, to enter into an Agreement for Lease with seabed owner The…
Come clean on gas boilers
by New Power • • 2 Comments
At around 1.6 million units annually, the UK’s boiler replacement market is huge. It was ‘world beating’ until 2017 (um, yay us?), when it was finally overtaken by China and North Korea. It was easily bigger than the next-largest markets…
NGESO posts series of Capacity Market notices
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NGESO issued a Capacity Market Margin Notice for the evening of 18 July at 19.00, and cancelled it an hour later. The notice is a signal to the market that more generation is required to meet system requirements. The automated…