Energy regulator Ofgem is planning to refine its ‘supplier of last resort’ arrangements – which take effect when an energy company fails – so that customers who are in credit with the failed supplier are less likely to lose their…
Author Archive for New Power
Decarbonisation: it’s about much more than power
by New Power • • Comments Off
As the editor of New Power, no-one likes talking about power stations more than me. But I was still disappointed that the Green Alliance’s debate as it launched a report on low carbon opportunities (“Will the UK succeed in a…
National Grid seeks to pass extra £113M ‘Black Start’ bill from Drax and Fiddlers Ferry on to customers
by New Power • • Comments Off
Ofgem wants answers from electricity system operator (SO) National Grid on why it spent over three times its budget to procure additional contracts with suppliers of a specialist network service – Black Start – for 2016/17. The SO wants to…
Two weeks to apply for Good Energy’s £3.1 million share offering
by New Power • • Comments Off
Good Energy wants to raise £3.1 million in new funding and has launched a share offering. Shares will cost £2.08 each, with a minimum application value of £520. The company said it “anticipates most applications from existing customers, bondholders and…
Dong closes IPO to retail investors
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Dong Energy will close of its initial public offering to retail investors at 4pm (CET), it has announced. Retail investors can invest up to DKK 3 million (£310,000) and the aggregate demand now exceeds the expected allocation of offer shares…
Opinion: Winter is coming… bringing a perfect storm for electricity system price rises
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Phil Hewitt, director and founder of EnAppSys, warns that with tighter supply margins forecast for winter 2016/17, SBR arrangements are likely to force wholesale electricity prices even higher
Project Nexus: Ofgem consults on up to six-month delay
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Project Nexus go-live is set to be delayed. Ofgem is consulting on several future options for the new settlement system for the gas industry, which was due to go live on 1 October, but it is now likely to be…
Gaelectric announces financial close on 51MW of wind farms
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Gaelectric, the renewable energy and energy storage group, has reached financial close on five wind farms in Northern Ireland. Debt of £67million, arranged through German bank, Nord/LB on an 18-year term, will be a major component of the total £74…
Leadsom claims on Brexit bemuse energy industry
by New Power • • 1 Comment
Energy minister Andrea Leadsom’s speech calling for a vote to exit from the EU got short shrift from members of the UK energy industry. It was described as ‘amazingly light on content’ by one industry member and there was surprise…
Tidal lagoons: call for evidence open until 31 July
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Former energy minister Charles Hendry has published a call for evidence on feasibility and practicality of tidal lagoons in the UK. The government announced that the review would report in the autumn and the call for evidence closes on 31…