National Grid’s operating profit was £4,096m in 2015-16, up £233m (up 6%) compared with the previous year at actual exchange rates, according to the firm’s annual results. The company said that its interconnector with France had helped boost it’s earnings…
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SSE plans broadband and boiler-service offerings to halt customer slide
by New Power • • Comments Off
SSE has announced plans to sell up to a third of its 50% stake in gas distribution network business SGN. The company said it was likely to return the cash to shareholders. In results for FY2015/16 SSE said customer energy…
Centrica acquires CHP business for new distributed energy division
by Annabel Andrews • • Comments Off
Centrica has bought a combined heat and power supplier and operator, ENER-G Cogen, for £145 million. Centrica said the business will form part of its new international distributed energy and power business. ENER-G Cogen has over 30 years’ experience delivering end-to-end…
DONG to launch IPO on Nasdaq Copenhagen “this summer”
by Annabel Andrews • • Comments Off
Danish utility and offshore wind developer DONG Energy has announced it will launch an Initial Public Offering (IPO) of its shares on Nasdaq Copenhagen. The partially state-owned company said the IPO could be launched for a listing in summer 2016, barring…
Good Energy signs deal with ITM Power to fuel hydrogen car refuelling stations
by Annabel Andrews • • Comments Off
Renewable electricity company Good Energy has signed an agreement to supply power for the production of hydrogen fuel at ITM Power’s hydrogen car refuelling stations. Juliet Davenport OBE, founder and chief executive of Good Energy said: “At Good Energy we’re proud…
National Grid’s Gone Green scenario ‘too cautious’, new Energy Systems Catapult hears
by New Power • • Comments Off
The ‘Gone Green’ scenario among four options set out by National Grid in its Future Energy Scenarios is ‘middle of the road’, and the next five years could see a dramatic change in the energy system if consumers act. That…
Centrica to raise £700 million in share issue
by Annabel Andrews • • Comments Off
Centrica announced today that it will raise £700 million by issuing around 350 million additional shares, a move that ratings agency Moody’s described as “a credit positive step”. The issue represents around 7 per cent of the company’s share capital. Centrica will place the shares…
European Commission consults on post-2020 bioenergy policy
by Annabel Andrews • • Comments Off
A consultation on an updated EU policy on sustainable bioenergy for the period 2020-2030 closes next week on 10 May. The European Commission is asking energy market participants and other stakeholders to respond to an online survey. The Commission said it was…
Ofgem’s decisions should be transparent and open to appeal, MPs urge government
by Annabel Andrews • • Comments Off
The governments draft legislation on energy should be amended to ensure decisions the regulator makes are transparent and open to appeal, the cross-party Energy and Climate Change Committee has recommended in a report published today. The committee has been scrutinising the Government’s…
Sustainable Marine Energy raises £4.5m investment for tidal array in Orkney
by Annabel Andrews • • Comments Off
Sustainable Marine Energy (SME) has moved its operational base to Orkney and will be connecting its first system to the grid at the European Marine Energy Centre (EMEC) over the coming months. This deployment will then be followed by a larger 240kW…