Drax Group Plc has blamed currency hedging and depreciation of its coal generation assets for the firm’s £83m pre-tax loss, announced in its results for the six months ending 30 June 2017. Cheif executive Dorothy Thompson said: “Delivering reliable renewable electricity…
News
Using EPC in mortgage calculators could allow buyers to borrow thousands extra cash, report says
by Annabel Andrews •
Many homebuyers would be able to take out a larger mortgage if the property’s energy performance rating was factored into the lending criteria of mortgage providers, according to new research. The LENDERS project has mapped how the energy performance rating…
News
UK Power Networks sets out its strategy for transformation into DSO
by Annabel Andrews •
UK Power Networks has launched a strategy consultation paper outlining its vision for the future of its network, which delivers electricity to London, the East and South East. The paper sets out how the company will transform from being a…
Longread
Uniper’s UK chair Felix Lerch talks about restructuring and repositioning the company
by New Power •
Job losses at Uniper, the fossil fuel and commodities company spun out of E.On, will continue until the end of the year, admits UK chair Felix Lerch. He told New Power in a wide-ranging interview that streamlining the company is…
Perspective
OPINION: Contracts for difference – or for a different kind of wholesale market?
by New Power •
Contracts for difference are a small part of the wholesale market now, but soon they will be affecting market behaviour, argues Mark Meyrick Under the government’s Electricity Market Reform, its replacement for the Renewable Obligation is now upon us. The…
News
Government opens £20m innovation fund for vehicle-to-grid technologies
by Annabel Andrews •
Up to £20 million is available from the Department for Business, Energy & Industrial Strategy – working with the Office for Low Emission Vehicles and Innovate UK – to fund projects that investigate new business models, consumer awareness and technologies…
News
Citizens Advice criticises Ofgem over “unjustified” energy network profits
by Annabel Andrews •
Citizens Advice has said energy network companies should return £7.5bn “unjustified profit” to consumers. The charity has published new research which estimates that key decisions made by the energy regulator Ofgem are allowing energy network companies to make billions in…
News
Foresight opens smart meter investment fund
by New Power •
Foresight Group is launching a Smart Bonds Fund to invest in the UK roll-out of smart meters. The funds raised will generate returns by lending to companies that own, operate and rent installed smart meters to UK energy suppliers. Investors…
News
Lords committee to consider energy security implications of Brexit
by New Power •
A House of Lords select committee has launched an inquiry into the implications of Brexit for energy security in the UK. The EU Energy and Environment Sub-Committee said UK and the EU have common energy needs, and rely on common…