Gas distribution networks are becoming less attractive investments because of uncertainty over their long term future and because they are ‘marked down’ on ESG scores, it was clear from discussion at rating agency Moody’s annual meeting on European energy utilities.…
News
UK drops from first to seventh ‘most attractive’ destination for offshore wind investment
by New Power •
The lack of bidders for offshore wind projects in the UK’s fifth allocation round (AR5), in 2023, was a “huge setback” in the UK’s goal of reaching 50GW of offshore capacity by 2030 and has lost it the no1 position…
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£3.12 million funding will upgrade 54 heat networks
by New Power •
A total of £3.12 million will be provided to 54 heat networks in the latest funding round of the Heat Network Efficiency Scheme (HNES). The Department for Energy Security and Net Zero funding helps heat network owners and operators in…
News
Queue management changes will clear ‘zombie’ projects from transmission connections queue
by New Power •
New rules to speed up electricity grid connections and force stalled or speculative developers out of the queue have been announced. The change will sweep away GB’s strict ‘first-come, first-served’ system, which allows ‘zombie’ projects that are delayed or unlikely…
Longread
UK should hold steady to benefit from its global leadership on green energy says Mitsubishi chief
by New Power •
The UK can maintain its ambition to be the ‘Saudi Arabia of wind’ and a green energy leader, despite recent setbacks, and the government should maintain momentum to take advantage of its position, says Dr Javier Cavada, chief executive and…
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Six suppliers make redress totalling £10.8M after falling short on smart meter installation
by New Power •
British Gas, Ovo, Bulb, E.ON, Scottish Power and SSE are to pay a total of £10.8 million to Ofgem’s Energy Industry Voluntary Redress Fund after in a shortfall to install a total of 1,026,628 smart meters by the end of…
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ACT NOW: Transport for London is seeking users for its waste heat, wants feedback by 11 December
by New Power •
Transport for London (TfL) is looking for offtakers who can use its waste heat and is asking for feedback by 11 December to help it understand the opportunity. TfL’s Waste Heat programme aims to help London reach its 2050 zero-carbon…
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Octopus Energy and Bellway join forces on ‘Zero Bills Homes’
by New Power •
Octopus Energy and Bellway Homes have announced a partnership to deliver ‘zero bills homes’ that allow customers to move into homes guaranteed to have no energy bills for at least five years, guaranteed. The homes come with an air-source heat…
News
King’s Speech: the industry responds
by New Power •
Juliet Phillips, Senior Policy Advisor, E3G: “The King’s Speech shows that the government is out of touch with the reality of the cost-of-living crisis. The announcements contained no measures that would rapidly lower energy costs or permanently reduce the exposure…