MPs: energy policy shifts have hit investor confidence and will raise consumer costs
News
Reduce stamp duty for energy efficient houses, says think tank
by Annabel Andrews • • Comments Off
The government should encourage home buyers to purchase energy efficient homes by reducing stamp duty for homes with a high efficiency rating, according to a new Policy Exchange report published today. Lenders should also provide energy efficiency mortgages, the think…
Winning £2 billion benefit of storage ‘requires joint action on market frameworks’
by New Power • • Comments Off
Effective use of storage could reduce the costs of managing a highly variable electricity system by £2.4 billion per year by 2030, a new report has concluded. But to use storage most efficiently the interests of a wide variety of…
Northern Ireland’s renewable heat incentive closes to new applicants tonight
by Annabel Andrews • • Comments Off
The Department of Enterprise, Trade and Investment (DETI) confirmed this week that the Northern Ireland renewable heat incentive (RHI) scheme for domestic and non-domestic installations will be suspended to new applicants from midnight tonight. Ofgem, which administers the scheme on…
Engie’s new focus: low-carbon, regulated businesses and ‘customer solutions’
by New Power • • Comments Off
Engie has announced a three-year transformation plan intended to refocus the company on low-carbon activities (which will provide 90% of pre-tax earnings by 2018), regulated activities (expected to be more than 85% of pre-tax profit by 2018) and “integrated customer…
New less ambitious energy efficiency obligation to save suppliers £800 million per year
by Annabel Andrews • • Comments Off
The government’s plans cut household fuel bills, announced in the 2015 spending review, will largely be funded by cuts to to the current energy company obligation (ECO) scheme, according to a letter from the department of energy and climate change (Decc)…
Gas ‘cannot bridge the gap to low-carbon’ without CCS; government strategies ‘at odds’, says UKERC
by New Power • • Comments Off
Without carbon capture and storage (CCS) gas cannot act as a ‘bridging’ technology to meet 2050 greenhouse gas targets. Instead, it must be phased out over the next 35 years and largely removed by 2050, according to new modeling by…
Over 40 per cent of energy switchers choose independent suppliers
by Annabel Andrews • • Comments Off
Over 6 million domestic energy supply accounts were switched in 2015, a 15% increase on 2014, according to figures published today by Ofgem. This is the highest number of switches since 2011. Over 40 per cent of switchers chose independent suppliers.…
Dong Energy to start construction of ‘waste to gas to power’ plant in Cheshire
by New Power • • Comments Off
Construction work is about to start on a waste to energy plant in Northwich that will use a new enzyme-based process to convert waste to gas. The gas will be used to generate electricity and the site should produce 5MW.…
Centrica blames falling commodity prices for 12 per cent slump in operating profits
by Annabel Andrews • • Comments Off
Profits at Centrica fell 12 per cent during 2015 due to “a very challenging environment”, the company said in its preliminary 2015 results announcement today. The company’s chief executive, Iain Conn, said: “2015 provided a very challenging environment for Centrica.…