Taxpayers will pay up to £9 billion a year extra under the Energy Price Guarantee scheme because of government’s 2013 decision to cut support for home insulation, according to new analysis by the Energy and Climate Intelligence Unit. The savings…
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‘Digital twin’ companies to merge
by New Power •
Two companies that provide industrial software for companies digitalising their engineering and operations are planning to combine. Schneider Electric took a majority stake in Aveva in 2018 and has made an agreed offer to acquire the remaining shares. The two…
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Windermere looks forward to electric ferry as network upgrade begins
by New Power •
A £1 million investment in the power network around Windermere, Cumbria, will allow for installation of the first electric ferry on Lake Windermere. Electricity North West will start work upgrading and replacing 5.4km of underground electricity cables as part of…
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Good Energy renewables sell-off provides key cash buffer
by New Power •
Good Energy made a pre-tax loss of £700,000 in the six months to end June 2022, compared to pre-tax profit of £4.8 million in the period in 2021, according to interim results published today. That included an £800,000 loss in…
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Ofgem warns Utilita: offer support to customers at risk of self-disconnection or face action
by New Power •
Ofgem has sounded a warning to Utilita that it must improve its practices to support customers on pre-pay meters who are at risk of so-called ‘self-disconnection’ and report to the regulator on changes to its practice and its call centre…
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JLEN sets up energy ‘ecosystem’ as new glasshouse picks up heat and power from AD plant
by New Power •
Infrastructure fund JLEN has invested £26.7 million in a commercial glasshouse project that will be supplied with heat and power via private wire from an existing anaerobic digestion plant also owned by JLEN. The consented 2.1 hectare glasshouse will be…
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Solar fund seeks shareholder approval to boost battery investments
by New Power •
NextEnergy Solar Fund (NESF) is seeking investor support to change its investment policy to allow it to invest more in battery storage. The strategy change came as NESF and Eelpower Limited have announced a new £200 million joint venture for…
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Energy bills relief package: the industry responds
by New Power •
Martin McTague, National Chair, Federation of Small Businesses: “It’s a huge relief for millions of small businesses to hear confirmation they will be part of the government’s plans to help on energy. Many have been pushed to the brink by…
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ECIU: insulating homes while capping prices would be ‘cost neutral’ for Treasury
by New Power •
Analysis from the Energy and Climate Intelligence Unit suggests that investment in home insulation could be cost-neutral for the Treasury before the next election, as reduced bills will cut the overall cost of a price freeze. It says that if…