The head of Eurelectric, the lobby group for electricity utilities in Europe, has called on the UK and EU to reach a deal on Brexit to avoid rising power prices, security of supply issues, and disruption to global energy trades.…
Author Archive for New Power
Drax acquires 2.5GW of generation from Scottish Power
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Drax has acquired 2566MW of power generation and storage assets from Scottish Power parent Iberdrola, saying the assets represent a growing system support opportunity. It expects the bulk of income from the plant to come from non-commodity sources. Scottish Power said “We have…
GoCompare offers auto-switch option ‘Weflip’
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Switching site GoCompare has launched its own auto-switching product, called ‘Weflip’, joining a handful of specialist companies. Customers can sign up to from today, Monday 15 October. The new service is powered by Energylinx, a GoCompare Group company that operates an…
Usio Energy ceases trading
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Energy supplier Usio Energy has ceased trading, and its customers will be taken on by First Utility. The company has around 7,000 domestic customers. Ofgem has appointed First Utility following a competitive process. First Utility is offering Usio Energy’s customers a…
Ofgem promises clarity on ‘market making’ future before cash-out price change
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Ofgem has promised to provide clarity by November on whether it will maintain electricity trading arrangements that require large players to act as ‘market makers’ at two periods during the day. The market-making requirements was introduced as part of Ofgem’s…
Thought leadership: CGI and New Power ask how to win value in fast-changing flexibility markets
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The idea that, instead of selling kilowatt hours, market participants of all kinds could sell their flexibility remains new. In this new thought leadership report, CGI and New Power investigate how to win value in the fast-changing environment of power…
Drifting into no-deal Brexit
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The UK could slide into a ‘no deal’ Brexit because there has been little possibility to plan for alternatives, Christiane Leuthier, senior director of commodities at FIA, suggested at a round table on Brexit organised last month by trading exchange EEX.…
Vitol fined over market manipulation: ACER warns budget cuts may leave future abuses undetected
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France’s Energy Regulatory Commission (CRE) has fined Vitol €5 million for engaging in market manipulation in the gas market. But the EU’s Agency for the Cooperation of Energy Regulators (ACER) warned that unless its market monitoring resources are maintained similar abuses…
CMA clears SSE/Npower retail merger
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The Competition and Markets Authority (CMA) has given the go-ahead to a merger between SSE Retail (SSE) and Npower. The CMA said its panel had specifically examined competition concerns around how the deal would impact ‘standard variable tariff’ prices. It concluded…
Tender to open for three offshore wind farm links
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Ofgem is opening a tender for owning the electricity transmission link to the 1.2GW Hornsea 1 wind farm project, owned by Ørsted, and sited 120km east of the coast of Lincolnshire and Yorkshire. The link to Hornsea 1 is one of three…