Industry News Roundup December 2016
Friday 16/12–EDF Energy announces that it will lower its standard gas prices by 5.2% in January, but increase its standard electricity prices by 8.4% in March. The Financial Times reports that the government is considering taking a stake in the Wylfa new nuclear power project.
Thursday 15/12–Centrica confirms that it expects to exceed its financial targets for the year following a strong performance in the second half. Greencoat Capital announces the launch of its first solar vehicle.
Wednesday 14/12–The government announces planned reforms to the Renewable Heat Incentive, but drops earlier proposals to remove solar thermal from the scheme. SSE and Dixons Carphone launch a “connected home” partnership. The Competition and Markets Authority publishes a number of final orders following its energy market investigation. Councils in Devon launch a “pioneering” energy company that is aiming to deliver heat and power more efficiently.
Tuesday 13/12–Iain Wright, chair of the business, energy and industrial strategy select committee, suggests more rigorous “financial heath checks” are needed for new entrant suppliers. Londoners are the least likely consumers in the country to switch electricity suppliers, according to Citizens Advice. Centrica signs a five-year LNG agreement with JERA. UK businesses are invited to apply for a share of funding for projects that develop products to increase Europe’s market share in solar power.
Monday 12/12–Climate change minister Nick Hurd tells MPs that the UK wants to play a major role in the reform of the EU’s carbon pricing scheme, irrespective of Brexit. The International Energy Agency says the share of coal in global power generation will drop to 36% by 2021. Manufacturers organisation EEF calls on the government to re-introduce the Annual Energy Statement so as to provide a longer-term view of policy, with a survey finding that only one in three (33%) companies felt that the government had a long-term strategy to ensure security of supply.
Friday 09/12—The results of the 2016 Capacity Market auction are released, with a clearing price of £22.50/kW, below many forecasts. The government confirms that it is to increase the buy-out price for Target Periods 3 and 4 of the Climate Change Agreements scheme. Renewable UK hails figures showing the UK’s fleet of windfarms has reached a new output record, after generating more than 10,000MW. Lightsource Renewable Energy announces that it is seeking to invest up to £600mn over the next five years acquiring solar assets from homes and businesses.
Thursday 08/12—National Grid announces that it has entered into an agreement to sell a 61% equity interest in its UK gas distribution business to a consortium led by Australian investment bank Macquarie. The government opens a consultation on options for raising boiler standards. SSE submits proposals to inform the Scottish government’s development of a new energy strategy, with priorities including increasing the use of district heating systems.
Wednesday 07/12—A survey commissioned by the Energy Technologies Institute suggests that four-fifths of the public favour bioenergy playing a more significant role in the UK’s energy mix. Ofgem requires British Gas to pay £4.5mn redress to the Carbon Trust after it failed to meet its deadline to supply some larger business customers through advanced electricity meters. The Competition and Markets Authority publishes the final order detailing how it will implement its prepayment price cap. Google announces that it is to power its data centres and offices with 100% renewable energy by 2017.
Tuesday 06/12—Drax Group announces that it has entered into a conditional agreement to acquire business energy supplier Opus Energy for £340mn. Former energy minister Charles Hendry announces that he has concluded his independent review of the role that tidal lagoons could play in the UK energy mix. A group of business leaders write a joint letter to the Scottish government calling for a clear direction of travel for the energy efficiency industry, arguing that the sector could create up to 9,000 jobs a year.
Monday 05/12—Over 160 organisations write to chancellor Philip Hammond urging him to halt the proposed rise in business rates for self-consumption solar power. Utilita becomes the latest supplier to confirm that it will not increase its energy prices during the winter.
Friday 02/12 - The European Environment Agency reports that the EU’s energy and climate targets for 2020 are “well within reach” but longer-term objectives could prove challenging. Ofgem provides an update on its proposals for changes to charging arrangements for embedded generation.
Thursday 01/12 - British Gas says it will keep its standard energy prices unchanged during the winter ahead. Speaking at an industry conference, energy minister Baroness Neville-Rolfe says that the government wants British companies to compete for the higher value plant components that will help build sustainable capabilities in the UK. SMEs in Scotland waste around £19,000 on average each year that could have been avoided through making energy efficiency improvements, Zero Waste Scotland finds.
Written By Graham Paul
