Ofgem’s planned reform of parts of the charging regime for electricity providers risks undermining renewable energy investments and raising the cost of operating the system, according to a review of the measure’s impact assessment. Consultant Oxera reviewed the impact assessments for…
News
Commit to CCS and consider a RAB funding model, says BEIS Select Committee
by New Power •
Carbon capture and storage (CCS) is a key tool for decarbonisation and the government should consult on new funding models to support it, including a ‘regulated asset base’ model. That was the conclusion of ‘Third time lucky?‘ a new report…
News
EPH acquires Northern Ireland plants from AES
by New Power •
AES corporation has announced plans to exit the UK. EP UK Investments will acquire AES’s entire UK business – which is all in Northern Ireland - including all assets, systems and key management and staff. AES will sell its interest in two Northern…
News
Energy from waste plant at South Humber Bank wins consent
by New Power •
Planning consent has been granted by North East Lincolnshire Council for an energy-from-waste plant located on land at the South Humber Bank power station site. The South Humber Bank Energy Centre will be powered by approximately 620,000 tonnes per…
News
Competition for £30 million in large-storage funding closes Friday
by New Power •
Applicants have until Friday this week to enter BEIS’s competition to win funding to develop new storage options that can deliver units sized at tens of MW. BEIS is looking for “innovative, replicable” solutions that could offer an alternative to…
News
Tidal power company wins £1 million Scottish investment
by New Power •
Tidal energy company Sustainable Marine Energy (SME) has secured equity investment totalling £3.46 million to further develop its PLAT-I tidal energy platform system. In the company’s latest funding round, the Scottish Investment Bank (SIB) committed £1 million on behalf of…
News
Capacity Market ‘must be simplified’ Ofgem says as it consults on five-year review
by New Power •
Ofgem wants to simplify the Capacity Market rules to widen participation, reduce costs and promote secondary trading. In a five-year review of the market, the regulator said it had provided security of supply, but was undermined by its complexity. Companies…
News
Pensions Infrastructure Platform acquires more wind assets
by New Power •
Scottish Equity Partners (SEP) has sold its portfolio of onshore wind farms to Pensions Infrastructure Platform (PiP) for an enterprise value of £50 million. The portfolio contains all five of the wind farm investments made by the Environmental Capital Fund (ECF), a specialist infrastructure…
News
Brexit extension leaves business ‘extremely uncertain’ over carbon costs
by New Power •
The Brexit delay has left carbon emitters, including power generators, with uncertainty over multi-million pound emissions payments. The uncertainty arises because it is not clear whether UK companies will take part in the EU Emissions Trading Scheme (EU ETS) in future.…