Ratings agency Moody’s Investors Service has downgraded Finland’s Fortum, following its €3.8 billion acquisition of a 47.12% stake in E.On spinoff Uniper. The agency said the deal would increase Fortum’s financial leverage, and although Fortum would be Uniper’s largest shareholder, it would not be…
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Whole systems networking projects win funding
by New Power •
The UK Energy Research Centre (UKERC) has announced funding for five projects under its Whole Systems Networking Fund. Funded by EPSRC, this scheme aims to improve the diversity, communications and collaboration between people working on whole energy systems and those…
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Greencoat acquires Lisdowney wind farm
by New Power •
Greencoat Renewables has acquired Lisdowney, a 9.2MW wind farm situated in County Kilkenny, for €22.5 million. Lisdowney wind farm consists of four Enercon E82 turbines. The wind farm was commissioned in November 2016 and its revenues are contracted under the…
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Ofgem tells CMA: peg district heating bills to natural gas equivalent
by New Power •
Heat network customers should have their bills capped to ensure they are charged no more than customers using natural gas, energy regulator Ofgem told the Competition and Markets Authority, which is conducting a market study into district heat networks. In…
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BEIS awards CCS grant
by New Power •
A consortium led by Carbon Clean Solutions (CCSL) has been awarded £900,000 grant by the UK Department for Business, Energy & Industrial Strategy (BEIS) for development of carbon capture and storage (CCS) technology. The grant will enable CCSL to build a…
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SSEN consults on staged connection process for developers stuck in Orkney’s ‘catch 22′
by New Power •
Orkney renewable energy developers stuck in a ‘catch 22′ because of delays in upgrading the network have a month to let Scottish and Southern Energy Networks (SSEN) know whether a proposed ‘alternative approach’ to upgrades will work. SSEN said Orkney…
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BEIS committee: no appeals, no wailing – pass price cap bill by the summer, to benefit 12 million customers
by New Power •
“Millions of customers are ripped off for staying loyal to their energy provider. An energy price cap is now necessary and the government must act urgently to ensure it is in place to protect customers next winter,” said Rachel Reeves…
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Vehicle-to-grid projects share £30 million funding
by New Power •
The government has announced funding of £30 million to be shared by 21 projects investigating ‘vehicle to grid’ applications for electricity storage. The Department for Transport said the schemes will demonstrate how energy stored in electric vehicle batteries could be borrowed…
Longread
OPINION: Companies must stay alert on cybersecurity
by New Power •
This year the World Economic Forum’s annual Global Risks Report named cybersecurity as the biggest single risk. New Power asked the European Network for Cyber Security’s Michael John how energy companies are responding How do you see cybersecurity threats evolving?…