Finance and investment

Armitt: Not surprising if infrastructure strategy is delayed

Sir John Armitt warned Utility Week’s Investor Summit that the new chancellor may not feel confident enough to publish the National Infrastructure Strategy alongside next week’s Budget. The comments from the chair of the National Infrastructure Commission came hours before suggestions emerged in the national press that the government was delaying the project. Publication is now expected to occur in May.

Cadent to issue UK’s first ‘transition bond’ to make pipes ready for hydrogen

Top-up payment changes may inflate CfD strike prices

Offshore wind targets 3,000 new apprentices by 2030

Marking the one-year anniversary of the offshore wind sector deal, plans have been revealed to take on a swathe of new apprentices and to ensure the workforce becomes more diverse. The industry specifically wants to target people from black, Asian and minority ethnic (BAME) backgrounds.

Severn Trent commits to £1.2bn sustainability drive

Severn Trent has set out a series of environmental and social commitments for the next decade. The drive will include investments in improving the natural habitat, tackling water scarcity, decarbonisation and the company’s role in society. Utility Week spoke to the company’s senior team to find out more.

Government urged to pave the way for hydrogen-ready boilers by 2025

The newly-created Hydrogen Taskforce has released its five-point plan which sets out how £1 billion should be invested in the production, storage and the distribution of the green gas. The taskforce wants government to ensure all new gas boilers are hydrogen compliant after 2025.

Mitsui increases stake in Tonik Energy

Tonik Energy will use an additional £11 million investment from Japanese firm Mitsui to fund renewable energy technology including EV chargers. This is the second investment from the Tokyo-based firm, which invested £10.3 million in early 2019.

Gresham House raises £31m in latest share placing

Weekend press round-up: Scottish Power accused of ‘harassment’

Our latest summary from the national papers includes a report accusing Scottish Power of "cruel harassment" after a number of non-customers claimed they were billed for large debts by the energy supplier. Also in Scotland, calls have been made for an inquiry into the collapse of an energy company backed by the Scottish government. Meanwhile Anglian Water co-owner First State Investments wants to buy the UK arm of an energy company that converts waste into power, according to City sources.

On the Move: United Utilities appoints CFO; Bulb introduces chief product officer

Karam: Ofwat ‘didn’t follow precedent’ on Bristol’s FD

Bristol Water chief executive, Mel Karam, talks to Utility Week about the company's reluctant decision to challenge Ofwat's final determination - for the third price review in a row. He discusses where he believes the regulator has got it wrong and the lessons learnt from previous challenges.

Greencoat expects further churn of ROC projects in 2020

Greencoat UK Wind (UKW) plans to take on more subsidy-free offshore wind projects in 2020 after making its first acquisition of this kind last year. However, investment manager Stephen Lilley told Utility Week that the company also expects more Renewables Obligation Certificate-backed assets to be made available, as utilities try to recycle capital.

Drax considering alternatives to new gas turbines

Ofgem investigates British Gas over PPM changes

Social tariffs should be issued for vulnerable energy customers

A “social discount” or tariff should be introduced for vulnerable energy customers to improve affordability of bills for the lowest income households. A new report from charity Christians Against Poverty found more than half of pre-payment meter customers it helps show signs of self-disconnection, prompting calls for a number of recommendations to help the vulnerable.