Finance and investment

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Government ‘distorted figures’, says Tidal Lagoon Power

The developer behind plans to build a £1.3 billion tidal lagoon plant in Swansea Bay has accused the government of distorting figures used to justify its decision not to back the scheme.

7 years ago

Foresight Solar Fund eyes £55m solar acquisition

Foresight Solar Fund has raised more than £48 million through a share placing to help fund the acquisition of 18 operational solar assets in the UK.

7 years ago

NIC urges government to back renewables over nuclear

The government should agree support for only one more new nuclear power station before 2025, the National Infrastructure Commission (NIC) has advised.

7 years ago

Fitch downgrades three water holding companies

Osprey Acquisitions (Anglian Water), Kelda Finance (Yorkshire Water) and Greensands UK (Southern Water) have received revised outlooks from Fitch Ratings, which has downgraded them from stable to negative.

7 years ago

London mayor launches £500m energy efficiency fund

A £500 million energy fund has been launched in London to help hospitals, universities and

7 years ago

EDF Energy announces second price increase this year

The supplier said the 1.4 per cent price increase, which it announced in April and came into effect in June, was not fully reflective of the pressures it faced at the time. Cost-cutting measures allowed it to offset some of the inflation in wholesale power prices, but the company said it can no longer continue to do this.

7 years ago

Thames passes ‘key milestone’ to close Cayman subsidiaries

Thames Water will not be issuing more debt out of the Cayman entities and will transfer the functions to a UK plc over the next few months.

7 years ago

Centrica to buy stake in Barrow Green Gas

Centrica has agreed to buy a 50 per cent stake in the biomethane gas shipper Barrow Green Gas (BGG) - the only gas shipper in the UK to focus solely on the green gas market.

7 years ago

Is this the end for tidal lagoons?

The government has announced it will not support the £1.3 billion Swansea Bay tidal lagoon project. What does this mean for tidal lagoon power? David Blackman investigates.

7 years ago

Ofwat reveals changes to PR19 methodology

Water companies will be required to set out proposals to share benefits with customers if its gearing level is materially more than the notional level underpinning price controls.

7 years ago

Robin Hood Energy moves into the black

The not-for-profit energy supplier Robin Hood Energy has reported a £202,000 trading surplus – its first ever - in its financial results for the year to the end of March.

7 years ago

Ofgem says recent actions will save consumers £17bn 

The headline figure, revealed in an annual report, consists of £7.8 billion of direct benefits, £8.8 billion of indirect benefits and a £542 million reduction in funding for networks companies.

7 years ago

Thames Water to ‘prioritise investment over dividends’

Thames Water will not pay external shareholders dividends for the next two years and its chief executive will not receive a bonus until at least 2020 as the company plans to “prioritise investment” to improve services.

7 years ago

Orsted orders turbines for record-breaking offshore wind project

Orsted has placed an order with Siemens Gamesa for the 165 turbines that will make

7 years ago

Government launches £200m nuclear sector deal

The nuclear industry has committed to a 30 per cent cut in the cost of building new plants by 2030 under the sector deal which the government unveiled today (28 June).

7 years ago

BP to buy UK’s largest EV charging company

Oil giant BP has signed a deal to buy the electric vehicle (EV) charging company, Chargemaster, in an “important step” towards rolling out a network of ultra-fast chargers across its forecourts.

7 years ago

SSE compensates customers for delayed switch

Ofgem has closed a second case into SSE this month, having decided not to take formal action for the delay customers experienced when they switched tariffs.

7 years ago

Cheap green generation is feasible, says watchdog

The UK can cost effectively slash the carbon intensity of its electricity generation by 2030, according to a new report from the climate change watchdog whose chair has called for an acceleration of the mooted sales ban on petrol cars.

7 years ago

Scottish Water delivers ‘highest ever’ customer satisfaction

Scottish Water invested £647 million last year in Scotland’s water and wastewater infrastructure and delivered a “record level” of customer service and environmental performance.

7 years ago

UK still largest offshore wind market in the world

The UK has retained the top spot as the largest offshore wind market in the

7 years ago

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