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A project to build the UK’s first geothermal power station in Cornwall has been described as a “truly ground-breaking project”, by Thrive Renewables, which is investing £6.5 million in the plant.
6 years ago
Anglian and Northumbrian's decisions to ask Ofwat to refer their final determinations to the CMA have taken the number of appeals to an unprecedented four. Meanwhile, Thames has said that while it “carefully considered” a CMA referral, it ultimately judged that this would be a “significant management distraction” at a key time. Southern also "reluctantly" accepted Ofwat's terms.
Ofgem has rescinded the provisional order it placed on Outfox the Market which obliged the energy supplier to make a Feed-in Tariff (FIT) payment of nearly £603,000. Outfox has expressed its disappointment with the regulator for publishing a public release prior to the due date.
The wait is over: it’s pistols at dawn. Before this week, there had been growing tension and speculation in the water sector as the deadline loomed for companies to throw out their PR19 final determinations and refer their settlements to the Competition and Markets Authority (CMA). In the end it was Yorkshire Water that reached for the trigger.
Yorkshire Water's rejection of Ofwat's final determination on its 2020-2025 business plan, triggering a referral to the CMA, has lit the touch paper on what was already an explosive situation. But will the fire spread? Ruth Williams investigates whether the company's concerns represent a wider rebellion across the sector.
The new chief executive of Ofgem has pledged to crack down on “sharp practice” in the energy retail sector and promised networks a squeeze on the cost of capital. Jonathan Brearley also vowed to change the perception of the regulator as overly concerned with short-term cost-cutting at the detriment of future investment. And, he insisted the fears around the potential pitfalls of the energy price cap have so far proven to be misplaced.
Smart technology company Moixa will conduct an electric vehicle (EV) charging trial to help drivers deliver flexibility to the UK’s energy system and reduce emissions. Moixa's technology will be integrated with Dutch firm Alfen's EV chargers, creating tailored charging plans for consumers.
British Gas owner Centrica is expected to report a dip in profits after being hit by the price cap when it posts its preliminary results on Thursday. Meanwhile there are reports that Sarwjit Sambhi, head of its consumer business, is the front-runner in the contest to take over from Iain Conn as chief executive.
Lower wholesale costs have seen a £17 reduction in both the default and pre-payment meter (PPM) caps, Ofgem has announced. The energy regulator has also provided a breakdown of how the cap is calculated.
Ofgem has announced it is minded to allow SSE to claim a last resort supply payment of up to £711,000 for costs incurred when it took on the customers of failed supplier Brilliant Energy. The claim is, among other things, to cover the cost of customer credit balances.
Scottish Water will move into a longer term regulatory cycle from 2021, with investment plans that will have a knock-on effect for bills. The company's 25-year strategic plan sets out its goals to achieve carbon neutrality, invest in its assets and safeguard resources against climate change.
Analysis by Aurora Energy Research has set out the scale of the challenge in reaching the government’s target of 40GW of offshore wind by the end of the decade, with an estimated cost of £48 billion - double the amount invested in the sector during the 2010s.
Ofgem says it is pushing back a consultation on its plans to demand suppliers protect a minimum of 50 per cent of customer credit balances. Other measures as part of a wider supplier licensing review will go to consultation in the Spring as planned. One industry source described the review as a detailed way to "lock the regulatory stable door well after the irresponsible small supplier horse has bolted".
A week after United Utilities accepted its final determination, it has announced the departure of its chief financial officer. Meanwhile, Moodys has set out its predictions for the company including lower penalties and the impact of transitioning to CPIH-linked assets value
The trade body has put forward 14 steps for the government to take in the upcoming Budget and energy white paper, including using general taxation to fund a national energy efficiency programme. It also calls for low-carbon heating trials, incentives for large-scale energy storage projects and “urgent clarity” on UK carbon pricing.
