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…
News
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
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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
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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…
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…
Electricity North West to offer DSR services to businesses with GridBeyond deal
by Annabel Andrews • • Comments Off
GridBeyond and Electricity North West (Construction and Maintenance) have formed a new partnership to offer enhanced Demand Side Response (DSR) and intelligent energy service technologies to business customers in the North West of England. Wayne Muncaster, UK Managing Director at…
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…