The Beatrice windfarm has won the European Investment Bank’s (EIB’s) single largest investment in an offshore wind project. The EIB is providing £525 million for construction of the project to be built 14km off the Caithness coast. The 19-year long-term…
Flash update
ENGIE confirms Rugeley Power Station to cease operations next month
by Annabel Andrews •
ENGIE has confirmed it is to begin decommissioning its 1,000 MW coal-fired Rugeley Power Station in Staffordshire by the end of June 2016. The company first announced its plan to cease market operations in February this year, due to the deterioration in…
Perspective
Eurelectric: The EU needs a strong carbon price signal to drive low-carbon investment
by New Power •
Hans Ten Berg, Eurelectric secretary general, says electrification remains crucial to reducing carbon emissions and the EU ETS must be able to provide the right investment signals The Paris Agreement is a major landmark in addressing the global climate change…
Flash update
Eurotunnel takes sole ownership of ElecLink
by New Power •
Eurotunnel will take on sole ownership of the planned ElecLink interconnector. It has signed a conditional agreement with Star Capital under which Groupe Eurotunnel will acquire Star Capital’s 51% share of the project. ElecLink is developing a 1000MW high voltage…
Flash update
Dong Energy signs three to flexible balancing tariff
by New Power •
Dong Energy has so far signed up three large users to its Renewable Balancing Reserve product, which invites customers to provide demand response, and New Power understands others are in the pipeline. The offering was launched in February and it…
News
National Grid profits up by 6 per cent, fueled by strong performance from French interconnector
by Annabel Andrews •
National Grid’s operating profit was £4,096m in 2015-16, up £233m (up 6%) compared with the previous year at actual exchange rates, according to the firm’s annual results. The company said that its interconnector with France had helped boost it’s earnings…
Flash update
CCS could have important role post-2050, says new report
by Annabel Andrews •
Carbon capture and storage (CCS) could play an important role in the energy mix in the second half of the century, according to a new report from the Sustainable Gas Institute at Imperial College, London. In its new white paper, Can…
News
SSE plans broadband and boiler-service offerings to halt customer slide
by New Power •
SSE has announced plans to sell up to a third of its 50% stake in gas distribution network business SGN. The company said it was likely to return the cash to shareholders. In results for FY2015/16 SSE said customer energy…
News
Centrica acquires CHP business for new distributed energy division
by Annabel Andrews •
Centrica has bought a combined heat and power supplier and operator, ENER-G Cogen, for £145 million. Centrica said the business will form part of its new international distributed energy and power business. ENER-G Cogen has over 30 years’ experience delivering end-to-end…