The £2.4 billion NeuConnect interconnector – the first direct link between the UK and German energy markets – has reached financial close, paving the way for work to start later this year. Led by global investors Meridiam (France), Allianz (Germany)…
News
Norway’s hydro utility sees water value rise as it preserves reservoir levels for winter
by New Power •
Statkraft has seen a rise in the value of its stored water, as the Norwegian company reserves supplies to feed its hydro power plants during the company winter. In a market update Chief Executive Christian Rynning-Tønnesen said, “The combination of…
News
Sizewell C granted development consent
by New Power •
The Secretary of State has granted development consent for the Sizewell C nuclear power plant, to be sited adjacent to Sizewell B in Suffolk. The application was submitted to the Planning Inspectorate in May 2020 and the inspectorate had advised…
News
Seagreen 1 OFTO shortlist announced
by New Power •
Three consortia are in the running to own and operate the transmission link to the Seagreen 1 offshiore wind farm, under Ofgem’s OFTO framework. The three groups will participate in the invitation to tender (ITT) stage of the Seagreen Phase…
News
Derogation agreed to allow six offshore wind farms to proceed in parallel with discussion over managing adverse effects
by New Power •
Six fixed offshore wind projects have been given the green light by the Secretary of State for Business, Energy and Industrial Strategy, with no objections from the Welsh Government, to enter into an Agreement for Lease with seabed owner The…
Editor's blog
Come clean on gas boilers
by New Power •
At around 1.6 million units annually, the UK’s boiler replacement market is huge. It was ‘world beating’ until 2017 (um, yay us?), when it was finally overtaken by China and North Korea. It was easily bigger than the next-largest markets…
News
NGESO posts series of Capacity Market notices
by New Power •
NGESO issued a Capacity Market Margin Notice for the evening of 18 July at 19.00, and cancelled it an hour later. The notice is a signal to the market that more generation is required to meet system requirements. The automated…
News
Nissan private wire PV project changes hands
by New Power •
Renewables investment trust Atrato Onsite Energy has acquired an onsite PV project designed to power Nissan’s Sunderland manufacturing plant. Atrato will acquire 100% of the shares of Hylton Plantation Solar Farm Limited, the company set up to to develop the…
News
Ofgem promises action if it sees ‘sharp practice’ in electricity balancing markets
by New Power •
Ofgem has promised to take action if it finds “sharp practice” in energy markets. There have been rising concerns about the prices taken in the so-called Balancing Market. Balancing costs refer to actions taken by the system operator, NGESO, at…