The ‘Gone Green’ scenario among four options set out by National Grid in its Future Energy Scenarios is ‘middle of the road’, and the next five years could see a dramatic change in the energy system if consumers act. That…
News
Centrica to raise £700 million in share issue
by Annabel Andrews • • Comments Off
Centrica announced today that it will raise £700 million by issuing around 350 million additional shares, a move that ratings agency Moody’s described as “a credit positive step”. The issue represents around 7 per cent of the company’s share capital. Centrica will place the shares…
European Commission consults on post-2020 bioenergy policy
by Annabel Andrews • • Comments Off
A consultation on an updated EU policy on sustainable bioenergy for the period 2020-2030 closes next week on 10 May. The European Commission is asking energy market participants and other stakeholders to respond to an online survey. The Commission said it was…
Ofgem’s decisions should be transparent and open to appeal, MPs urge government
by Annabel Andrews • • Comments Off
The governments draft legislation on energy should be amended to ensure decisions the regulator makes are transparent and open to appeal, the cross-party Energy and Climate Change Committee has recommended in a report published today. The committee has been scrutinising the Government’s…
Sustainable Marine Energy raises £4.5m investment for tidal array in Orkney
by Annabel Andrews • • Comments Off
Sustainable Marine Energy (SME) has moved its operational base to Orkney and will be connecting its first system to the grid at the European Marine Energy Centre (EMEC) over the coming months. This deployment will then be followed by a larger 240kW…
ScottishPower Renewables orders 102 Siemens turbines for offshore wind plant
by Annabel Andrews • • Comments Off
Siemens is to supply, install and commission 102 wind turbines, each with a capacity of seven megawatts and a rotor diameter of 154 meters, for the East Anglia ONE project. The company will also be responsible for servicing…
MPs and Friends of the Earth urge government to accept recommended Fifth Carbon Budget
by Annabel Andrews • • Comments Off
The fifth carbon budget should be set at 1,765 million metric tons of carbon dioxide equivalent (MtCO2e), the Energy and Climate Change Committee has told the government. In November 2015, the Committee on Climate Change (CCC) published its advice on the…
ScottishPower to pay out £18M for billing and service failings
by New Power • • Comments Off
ScottishPower has agreed to pay £18m in redress after an Ofgem investigation into the supplier’s complaint resolution, call handling and billing processes. Up to £15m will be paid in customer compensation and the rest will go to charity. Ofgem said ScottishPower…
Pension Infrastructure Platform closes first £125m investment fund
by Annabel Andrews • • Comments Off
The Pension Infrastructure Platform (PIP) has closed the first tranche of its Multi-Strategy Infrastructure Fund, having raised £125m. Over the fund’s five-year investment period, it will buy and build a diversified portfolio of 15 to 20 UK infrastructure assets, including renewable energy…
Licence application submitted for Norway-Scotland interconnector
by New Power • • Comments Off
NorthConnect has applied for a licence to build an interconnector between Peterhead in Scotland and Simadalen in western Norway. The interconnector is planned to be a 500kV 1400MW HVDC subsea cable, 650km long. It is planned to go into operation…