Drax: Renewable power operator agrees to pay £25m as Ofgem shuts probe August 29, 2024 Power station operator Drax has agreed to pay £25m after an investigation by energy watchdog Ofgem found it failed to report data adequately. Drax, which receives hefty Government subsidies from burning biomass wood chips, lacked the necessary data governance and controls in place, according to Ofgem. This meant it did not give the regulator accurate [...]
Labour’s North Sea windfall tax plans branded a ‘blunt response’ that will hammer businesses across the UK August 22, 2024 The government’s plans for North Sea oil and gas are a “blunt response” that could jeopardise hundreds of thousands of jobs not just in the energy sector, several of the industry’s leading figures have warned. In an open letter to the Treasury, over 40 companies with operations in the North Sea voiced their “grave concern” [...]
UK’s largest electricity transmission project gets green light from Ofgem August 13, 2024 The £3.4bn Eastern Green Link Two, described as a subsea "superhighway," will run for 436km between Yorkshire and North-East Scotland.
Lower power prices hit investment trust Renewables Infrastructure Group August 9, 2024 Renewables Infrastructure Group’s net asset value (NAV) has declined four per cent since the start of the year as low power prices and weak energy generation have hit the investment trust. The £2.5bn trust was launched in 2013 to invest in renewable energy generation and supporting infrastructure. In its interim results today, it revealed that [...]
Lifting the ban on onshore wind was step one. Now Britain must move faster August 6, 2024 Labour’s reversal of the de facto ban on onshore wind is encouraging, but Britain must do more to get building again, writes John Caudwell One of Labour’s first acts in government was to lift the de facto ban on onshore wind. This change in planning policy means that onshore wind projects no longer need to [...]
Elon Musk hires operations chief for Tesla’s household energy supplier August 4, 2024 Tesla has hired a new head of operations to help lead the launch of its household energy supplier as Elon Musk presses ahead with his vision for houses to have a "virtual power plant" of batteries.
Ofgem takes steps to improve flexibility of UK’s energy market in clean power push July 29, 2024 Ofgem has pushed ahead with plans to increase the flexibility of the UK's energy market as it becomes more reliant on intermittent sources of energy, like wind and solar.
The Debate: Should B Corps cut ties with fossil fuel companies? July 25, 2024 City A.M.’s weekly feature takes the fiercest water-cooler debates and pits two candidates head to head before delivering The Judge’s ultimate verdict. The Debate: Should B Corps cut ties with fossil fuel companies? Is it delusional to pretend that fossil fuel companies meet the B Corp standards, or is it unrealistic to shun companies like [...]
GB Energy is more rooted in ‘big state’ ideology than climate ambition July 23, 2024 Conservatives need to hold Labour accountable for wasting taxpayers’ money and crowding out private finance through GB Energy, writes Sam Hall
AFC Energy: Hydrogen firm hopes deal with German manufacturer can spark recovery July 22, 2024 Hydrogen power firm AFC Energy has inked a landmark supply deal with a german manufacturer that investors will hope will jolt the firm back into life after three years of stark decline.