Centrica Business Solutions has brought online its 49MW battery at Roosecote battery in Cumbria. It is part of Centrica’s £180m investment into flexible power which also includes a refurbishment of King’s Lynn power station, plus two fast response gas-fired power…
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British Gas to challenge price cap as cheap energy deals fall away
by New Power • • Comments Off
British Gas owner Centrica has launched a challenge the way the price cap is calculated. The cap, on standard variable tariffs, is due to take effect on 1 January. The regulator had planned to use the wholesale price for April…
Ofgem’s RIIO2 proposal on cost of capital: the industry responds
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David Smith, chief executive, ENA: “It’s important that the public and the country as a whole benefit from the changes that are sweeping across the country’s energy system, but much more work still needs to be done by the regulator to…
Lords committee complains over lack of BEIS analysis over carbon and power costs in ‘no-deal’ Brexit
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Members of a House of Lords committee told energy and climate minister Claire Perry it was “extremely disappointing” that her department had not assessed how a UK exit from the EU Emissions Trading Scheme on 29 March would affect the…
What now for the Capacity Market?
by Annabel Andrews • • Comments Off
When the European Court of Justice set aside GB’s Capacity Market (CM) in November saying it was illegal state aid, it took the industry entirely by surprise. Even those who were aware that the hearing had taken place, back in…
Moody’s downgrades SSE
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Rating agency Moody’s has downgraded SSE’s rating from A3 to Baa1. It has also downgraded SSE’s hybrid notes (from Baa2 to Baa3). The rating agency began a review in September, after SSE’s announced losses in its energy trading division, and…
Wathegsr 2 wind farm changes hands
by New Power • • Comments Off
BayWare has sold its Wathegar 2 wind farm to the British Strategic Investment Fund LP (BSIF), which is managed by London-based specialist asset manager, Gresham House Asset Management. The wind farm has a capacity of 18.45MW comprising nine 2.05MW Senvion…
Sherwood biomethane plant sold to JLEN
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BayWare has sold its Sherwood biomethane to JLEN The plant is in Nottinghamshire about 25 miles southeast of Sheffield and was BayWare’s first UK biomethane plant, co-developed with AcrEnergy. It has now been sold to the environmental infrastructure investment fund John…
RIIO2 will see cost of capital at 4%, says Ofgem
by New Power • • Comments Off
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…
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…