Drax today announced a 26% fall in earnings (EBITDA) to £169 million in 2015, down from £229 million in 2014. Profit before tax fell to £59 million from £166 million. Chief executive Dorothy Thompson called the results “another strong operational performance”…
Flash update
Dong operating profit up by 13 per cent in 2015
by Annabel Andrews • • Comments Off
Dong Energy’s operating profit (EBITDA) rose 13 per cent to 18.5 billion DKR in 2015. The company said: “The positive development in operations compared to last year can mainly be attributed to higher production from offshore wind, higher levels of…
UK regulators set out cross-sector infrastructure emergency plan
by Annabel Andrews • • Comments Off
The UK Regulators Network (UKRN) has set out how it will respond to emergency situations that affect more than one regulated sector, such as a storm that knocks out energy, water, rail and telecomes networks. The plan, published today, sets out…
Carbon capture “only useful for mitigating industrial emissions”
by Annabel Andrews • • Comments Off
Carbon capture and storage (CCS) is unlikely to significantly reduce emissions from coal-fired power stations, according to the Smith School of Enterprise and Environment at the University of Oxford. In its report on stranded assets in the coal industry, the…
Demand response capacity to receive £27.50/kW/yr following Transitional Capacity Market auction
by Annabel Andrews • • Comments Off
Following the first Transitional Capacity Market auction 803MW of demand response capacity is set to receive contracts at a price of £27.50/kW/yr, according to provisional results from National Grid. The delivery year is 2016/17. Some 1,110.28MW of capacity entered the…
HM Treasury’s tax relief change has dealt a body blow to the community energy sector
by New Power • • Comments Off
Philip Wolfe, chairman of Westmill Solar Co-operative and Community Energy England, says the community energy sector has been treated unfairly. It shows government does not understand how the energy industry is changing
November’s ‘cash-out’ changes could hit small generators, PPAs, I&C supply contracts
by New Power • • Comments Off
Ofgem’s decision to reform cash-out rules following its Electricity Balancing Significant Code Review could see supply contracts with industrial and commercial customers reopened, and result in more expensive power purchase contracts (PPAs) and potential penalties for small power generators, New…
Capacity Market 2015: eight new-build gas-fired plants and two interconnectors rejected
by New Power • • Comments Off
Eight large new-build gas projects failed to qualify for the upcoming Capacity Market auction, leaving Trafford (which won a contract last year) and potentially ESB’s Carrington (under constructon, and prequalified for the auction) the only large new-build gas plant…
Ofgem delays ‘window’ for new interconnectors but some projects are in line for EU cash
by New Power • • Comments Off
A ‘window’ for new interconnector developers to apply for a ‘cap and floor’ deal on returns for new projects has been delayed to 2016. The first such window was opened last year and closed in September. Ofgem said then that…
Capacity Market auction: IT problems delay prequalification
by New Power • • Comments Off
The prequalification window for the next Capacity Market auction has been delayed by two weeks because of continuing IT problems, National Grid has announced. Grid had originally planned to have prequalification up and running on 13 July, but problems with…