Finance and investment

SSE sells stake in Walney offshore windfarm to Greencoat

ED2: How local, how flexible, how fast?

Northern Powergrid has launched the first stage in compiling its business plan for the RIIO ED2 price control. Utility Week speaks to the company’s policy and markets director, Patrick Erwin, about a tiered approach to engaging consumers, learnings from the gas and transmission networks and acting as a “force for good”.

CMA ‘on track’ to deliver PR19 redeterminations next month

The Competition and Markets Authority has told Utility Week it expects to hit its deadline of mid-September to deliver its first take on the appeals by four water companies to Ofwat's final determinations on their AMP7 business plans. All eyes will be on any adjustments to WACC, what value is placed on customer input and the levels of investment permitted.

Calon Energy administrators mothball power plants

NI Water warns under-funding has left it in ‘critical’ state

Balfour Beatty quits – but who cares?

Contractor seeks £49m from National Grid

Costain is pursuing National Grid to recover costs from work on the upgrade of gas compressor stations in Peterborough and Huntingdon. The contractor agreed to exit the contracts in June after disputes over changes to the schemes’ design and scope.

BEIS report proposes CfD model for hydrogen

Eon’s restructure expected to help its UK recovery

Eon says it expects to see a “significant recovery” in the UK as a result of the restructuring of its supply business. According to the group’s financial results for H1 2020 Eon’s UK supply arm almost doubled its revenue in the first half of the year to more than £6.6 billion but adjusted pre-tax earnings were down £29.8 million to £38.9 million.

Making a market for PPAs

Weekend press round-up: Energy sector’s Covid bill hits £1.1bn

In our latest review of sector coverage across the national newspapers, new research puts a figure on the energy industry’s lost income during the pandemic. Meanwhile, SSE hits out at Ofgem’s draft determinations, saying they will cause “years of delay” to renewables projects. There are also reports that suppliers are fearing a surge in bad debts in the autumn as the furlough scheme draws to an end.

Ofgem reduces balancing costs cap

Ofgem has reduced the cap on balancing charges introduced as part of its Covid support scheme and has extended the provision until October. Ofgem said the existing cap has already deferred more than £8 million in charges and has mitigated "extreme volatility".

Balfour Beatty’s exit from water and gas ‘should be a wake-up call’

Bulb to pay £1.76 million over customer failings

Network owners and financial investors pegged as most likely buyers for WPD