National Grid has announced the start of work on a new 1.4GW interconnector linking the GB grid with Denmark. The £1.8 billion project is a joint venture by National Grid and Danish transmission company Energinet and is due to enter service…
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BEIS told: invest £5 billion in a Net Zero Development Bank and make a £100 billion return
by New Power •
The UK could net a return of £100 billion to support the British economy if it invested £5 billion in energy efficiency and renewable energy, and delivered it via a dedicated Net Zero Development Bank, according to local leaders. The package…
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Ofgem aims to halve network returns while giving flexibility to invest in delivering Net Zero: National Grid warns it has gone too far
by New Power •
Ofgem’s draft determination of network price controls for the coming five years ”Risks undermining the process”, said National Grid. The company, which owns gas and electricity transmission networks and the system operator, said Ofgem’s proposed settlement “leaves us concerned as to our ability to…
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Nuclear, CCGT, biomass the winners as system operator continues to struggle with low demand
by New Power •
EDF Energy provided 600MW of additional nuclear generation on the weekend of 4-5 July as the Torness plant returned from outage, while National Grid ESO continued to pay the company to reduce generation from its Sizewell B plant by a…
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Introducing the GB Power Investment Index
by New Power •
GB Power Investment Index The energy market is becoming more complex, with uncertainty the new norm. The sheer amount of change occurring in the sector means there is a real need to understand how new ancillary services, market challenges or…
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Green stimulus: the industry responds – ‘ambition severely lacking’
by New Power •
Dr Nina Skorupska CBE, chief executive, REA: “Today’s announcement confirmed a lot of what we already knew, £3 billion funding for energy efficiency improvements and a drive on green job creation. Although we support the sentiment and maintain that this…
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MPs call for strategic approach to boost offshore wind industry and CfD strike price for floating wind
by New Power •
The Environmental Audit Committee has asked the Department for Business, Energy and Industrial Strategy (BEIS) with steps BEIS should take to help the UK capitalise on its lead in offshore wind. The committee says offshore wind is a “brilliant British success…
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Gresham House acquires Bloxwich battery; vendor Arenko moves to software focus
by New Power •
Gresham House Energy Storage Fund has completed the acquisition of a 41MW operational battery in Walsall from a group of investors led by Arenko Cleantech. The acquisition brings the total capacity of operational utility scale battery storage projects in the…
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East Anglia One passes CfD milestone
by New Power •
The third and final phase of the East Anglia One offshore wind farm has started to receive payments under the Contract for Difference (CfD) framework, the Low Carbon Contracts Company (LCCC) has announced.East Anglia One (Phase 3) achieved its Start Date…