News

Water minister dodges social tariff and wet wipe commitments

Cable laid for UK’s first interconnector with Denmark

South East pays out dividend and bonuses despite supply woes

South East Water has paid out a £9 million dividend and its chief executive has pocketed a six-figure bonus, despite a year of supply-related problems. The company’s annual results also reveal that the firm made a £74 million pre-tax loss, representing a £91 million swing compared to the £17 million profit recorded last year. Union bosses and consumer groups have questioned the appropriateness of the dividend and bonus payments, given the loss-making firm has also been blighted by performance issues.

Government signals caution on local wholesale power prices

The government has signalled that it doesn’t want reform of the wholesale electricity prices, such as by creating a patchwork of local markets, to undermine investment in renewables. Its response to the now defunct BEIS (business, energy and industrial strategy) committee’s report on decarbonisation of the power sector, confirms that the government wants to significantly narrow the options when it publishes the second consultation on its Review of Electricity Market Arrangements (REMA) this autumn.

Portsmouth Water officially takes on Kraken platform

Shortlist revealed for biggest ever offshore transmission contracts

Four bidders have been shortlisted by Ofgem for the UK’s biggest ever offshore transmission tender round. All four bidders will be able to bid for the three offshore transmission assets of Dogger Bank A Offshore Wind Farm, Neart na Gaiothe Offshore Wind Farm and Moray Offshore Wind Farm (West), estimated to be worth a combined total of around £2 billion.

New funding to cut UK nuclear fleet’s reliance on Russian fuel

Grant Shapps has announced the launch of the government’s mini-atomic reactor competition while unveiling funding for projects designed to reduce the UK’s reliance on Russia for nuclear fuels. The secretary of state for energy security and net zero said the UK is seeing the “first brush strokes of our nuclear power renaissance” with the opening of the government’s new agency Great British Nuclear (GBN).

‘Final piece in the jigsaw’: Orkney link gets green light

Ofgem consultants spend rises amid high staff turnover

Ministers urged to give fuel poor £1k this winter

Regulator rejoins Open Networks steering group

Weekend press round-up: United Utilities ‘retreating to its bunker’ amid shareholder AGM ban

SES Water shareholders to inject £22m into firm

SES Water’s shareholders have agreed to inject £22 million into the company to ensure its financial resilience. The equity investment is revealed within the company’s annual accounts which show revenue up to £67.4 million, however operating profits have dipped to £4.3 million.

Ofwat outlines possible C-Mex changes for PR24

Thames knock-on effect hurts listed water firms