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…
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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…
Centrica to acquire Neas Energy
by New Power • • Comments Off
Centrica is to acquire Neas Energy for £170 million. Neas provides customers in six countries in Europe with a route to market and short-term trading optimisation services. The customers together have 2,500 windfarms, solar plants and combined heat and power…
Isle of Wight tidal scheme gets go-ahead
by New Power • • Comments Off
Perpetuus Tidal Energy Centre (PTEC) has received the go-ahead from the Marine Management Organisation for a tidal energy generation project off the Isle of Wight. The onshore part of the 30MW project was approved by the local planning authority last…
‘No case to investigate’ says Ofgem over E.On/Age UK tariff, but Charity Commission criticises partnership
by Annabel Andrews • • Comments Off
The charity Age UK has been criticised and told to make significant changes by the Charity Commission after an investigation into its controversial relationship with energy supplier E.ON. In February this year the Sun claimed OAPs were being overcharged when they signed…
Community generator Mongoose plans to become an energy supplier
by New Power • • Comments Off
Community energy company Mongoose has announced plans to start an energy supply business, planned to launch before the end of the year. The supply business will be run in partnership with locally-run community benefit energy companies across the UK. “We…
Government pledges £1.9bn to protect data, systems and networks from cyber attacks
by Annabel Andrews • • Comments Off
The government has announced plans to spend £1.9bn to defend the UK’s data, systems and networks from cyber attacks. In the final report on delivery of its previous five year cyber security strategy (Cyber Security Strategy 2011-2016), the government said…
E-serve spin-off planned for autumn
by New Power • • Comments Off
Ofgem’s ‘E-serve’ delivery body will be separated from the regulator and its future set out as part of a new ‘delivery landscape’ by the time of the Autumn Statement. The Department of Energy and Climate Change (Decc) says in a…
DEME to buy 2 per cent stake in Tidal Power Scotland for £2m
by Annabel Andrews • • Comments Off
Belgian offshore construction specialist DEME Group has agreed to buy a 2 per cent stake in Tidal Power Scotland, the Scottish tidal development company owned by Atlantis Resources, for £2m cash consideration. As part of the transaction, Atlantis and the…