The National Audit Office, in its latest report on smart meters, has asked whether the rollout will save money for customers. That’s a good question for the NAO to ask and its uncertainty over whether consumers will see their energy…
News
Spark Energy failure affects 290,000 customers
by New Power •
Spark Energy has gone out of business. Its 290,000 customers will now be entering Ofgem’s ‘supplier of last resort’ process, and Ovo Energy told the BBC that it had put forward proposals to Ofgem to acquire the business. The company follows Extra Energy, Future Energy,…
News
RO and FIT shortfalls trigger enforcement action and more costs for compliant suppliers
by New Power •
Suppliers have fallen short on payments to two renewables support schemes, prompting Ofgem to take enforcement action and potentially raising bills for other suppliers. The regulator said that after late payments there was a shortfall of £58.6 million in Renewables…
News
Energy efficiency fund to float, aims to raise £150M
by New Power •
New investment company Seeit (SDCL Energy Efficiency Income Trust) has announced plans to float, to raise £150 million to invest exclusively in the energy efficiency sector, which it describes as a “rapidly growing segment of the infrastructure market”. The funds will be managed by Sustainable Development Capital, which…
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Extra Energy ceases trading – Ofgem announces new supplier fitness tests
by New Power •
Ofgem has activated ‘supplier of last resort’ measures as Extra Energy ceases trading. The company has around 108,000 domestic accounts and 21,000 business customers. Gillian Guy, Chief Executive of Citizens Advice, said: “Today’s news and other recent supplier failures again highlight…
Flash update
Offshore wind sector launches careers website
by New Power •
The Offshore Wind Industry Council has launched a careers website to attract new entrants into the sector. The new site offshorewindcareers.co.uk went live as part of Offshore Wind Week. It showcases the job opportunities for graduates and apprentices, as well as those seeking to transfer from other sectors such as oil and…
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BayWare acquires Tralorg wind farm
by New Power •
BayWa r.e. has acquired the consented Tralorg wind farm from Brookfield Renewable Partners. The wind farm, in South Ayrshire, Scotland, secured planning permission in 2014. Once installed, the wind farm will have a capacity of 18.8MW comprising eight 2.35 MW…
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Research reveals regional disparities in energy revolution
by Annabel Andrews •
Britain risks creating a two-tier energy system, where some regions benefit from the latest technology, and others are left behind with the higher costs, environmental and health problems that come from burning legacy fossil fuels, according to a new report…
News
Moody’s: generators lose £100M this winter – but retailers’ profit rises
by New Power •
Generators will lose around three months of revenue in 2018 – around £100 million – due to the loss of Capacity Market payments over the coming winter, according to ratings agency Moody’s. If the scheme is not successfully reinstated or…