The T-1 Capacity Market auction, securing 3626.196MW of ‘top up’ supply for the coming winter, cleared at a price of 77p per kW per year. Market participants are still waiting to hear whether the CM will be back in operation for…
Flash update, News
ACT NOW: Nemo Link consults on no-deal Brexit trading rules
by New Power •
A consultation on trading arrangements on the new Nemo interconnector with Belgium closes on Friday 14 June. The rules governing trade on Nemo Link in the event of a hard Brexit were approved by the regulators in February. However, the company said, those…
News
Net zero: the industry responds
by New Power •
Nick Molho, executive director, Aldersgate Group: “This is a crucial step forward and a landmark achievement for the Prime Minister and all the ministers and MPs who have supported an increase in the UK’s climate ambition. The message from business is clear: the…
News
Battery projects win £23 million of funding
by New Power •
Business secretary Greg Clark has announced £23 million of funding in battery technologies, part of the total £274 million that will be awarded to consortia across the UK through the Faraday Battery Challenge, within the government’s Industrial Strategy Challenge Fund (ISCF) Winners include: Mining…
Longread
From the New Power archive: Removing the lithium barrier
by New Power •
In the April issue of New Power Report we looked at one of the concerns regularly expressed regarding the switch to electricity – and batteries – to fuel cars and large-scale storage: the supply of lithium. Demand is expected to…
News
Greens future? Octopus launches farm tariff
by New Power •
Green energy tech supplier Octopus Energy for Business has launched two dedicated tariffs for ’vertical farmers’. Vertical farming takes place in indoor facilities where crops are grown on a series of levels in a precisely-controlled environment. Sounds niche? Octopus’s new tariff comes as…
News
Whitelee battery ‘first of many’ on renewables sites, says Scottish Power
by New Power •
The Scottish Government has approved plans to install a 50MW battery at ScottishPower’s Whitelee wind farm. The lithium ion battery will be the size of half a football pitch. Scottish Power claimed it would be the largest windfarm battery in the…
News
Bill or regulation? Rachel Reeves MP pursues two options to get net-zero 2050 target
by New Power •
Tomorrow (11 June) Rachel Reeves MP will present a Bill to Parliament which would commit the government to reducing UK carbon emissions to net zero by 2050. Reeves, who is chair of the Business, Energy and Industrial Strategy (BEIS) Select Committee,…
News
UK Export Finance ‘undermines low-carbon leadership’ says committee
by New Power •
The UK’s export finance activities are undermining its international climate and development targets, says a new report from the Environmental Audit Committee.Committee chair Mary Creagh said: “The government claims that the UK is a world leader on tackling climate change, but…