Toshiba

Japan’s Toshiba Corp and IHI Corp have decided to dissolve their joint venture that make turbines for nuclear power plants due to weakened demand following the Fukushima disaster.

Reuters 19th Oct 2018 read more »

Posted: 19 October 2018

Utilities

Scottish Power has ditched fossil fuels for electricity generation and switched to 100% wind power, by selling off its last remaining gas power stations to Drax for more than £700m. Iberdrola, Scottish Power’s Spanish parent company, said the move was part of its strategy to tackle climate change and would free it up to invest in renewables and power grids in the UK. The deal also marks a significant expansion and diversification for Drax, whose main business is a coal- and biomass-fired power station in North Yorkshire. Included in the £702m sale are four gas power stations in England, two hydro schemes and a pumped storage plant in Scotland. That leaves Scottish Power producing all its power from windfarms. While it has many onshore, the firm’s growth is in offshore windfarms, including East Anglia One, which should take the crown of the world’s largest when it opens in 2020.

Edie 16th Oct 2018 read more »

BBC 16th Oct 2018 read more »

Times 17th Oct 2018 read more »

Scotsman 16th Oct 2018 read more »

Herald 16th Oct 2018 read more »

The iNews 16th Oct 2018 read more »

Guardian 16th Oct 2018 read more »

Independent 16th Oct 2018 read more »

Telegraph 16th Oct 2018 read more »

Drax took a huge leap forward in its drive to end its reliance on coal by buying a collection of water and gas-fired plants from the owner of Scottish Power. Shares in Drax rose by 20p, or 5.4 per cent yesterday, to close at 386p, after the company sealed a £702 million deal, less than the £750 million that most analysts had been expecting and well below earlier suggestions of a price tag of close to £1 billion. Drax also told shareholders that it expected its new portfolio of low-carbon and renewable energy assets to generate profits before tax and other items of as much as £110 million next year, the first time it has put a figure on a likely earnings boost from the acquisition. Buying the plants from Iberdrola, of Spain, means that Drax is the new owner of more flexible generating assets in Scotland, Yorkshire and on the outskirts of London. The agreement also means that Scottish Power will become the first big energy provider to generate all of its electricity from wind power as opposed to coal and gas.

Times 17th Oct 2018 read more »

FT 16th Oct 2018 read more »

SCOTTISH Power has been warned against price hikes after announcing it will become the first major UK energy supplier to generate all its electricity from wind power. The Spanish-owned giant sold its last gas and hydro stations to the power company Drax for £702 million, in a move it argued would help tackle climate change and provide the best value for customers. But critics raised concerns over a boom in “unpopular and unsightly” wind farms after the energy firm insisted it would invest £5.2 billion over the next four years to more than double its existing renewables capacity. Scottish Conservative energy spokesman Alexander Burnett said it would “obviously be an expensive switch for Scottish Power”. He added: “It’s important they now reassure their many customers that this will not result in increases to energy bills.

Herald 16th Oct 2018 read more »

Posted: 17 October 2018

Utilities

About 7,000 customers of Usio Energy have been left in the lurch after the energy supplier ceased trading yesterday. They will be assigned a supplier by Ofgem, the regulator, after the third collapse of a small energy company in recent months. Customers will have their credit balances protected under Ofgem’s safety net. Usio used artificial intelligence to supply customers with green energy at low prices. Customers had smart meters installed and Usio’s software used data from the meters to calculate the energy they needed to buy. The company said yesterday that it had been “threatened with a substantial damages claim by one of its former service providers”. Usio “strongly disputed the claim and considered it did not have merit”, but could not accept more funding from investors while the claim was unresolved. The company added that its management “d eeply regrets the current situation”. Future Energy collapsed in January, followed by Iresa in July and Gen4U last month. The combined company failures affected more than 110,000 households.

Times 16th Oct 2018 read more »

ScottishPower has switched to 100% wind power generation after selling its gas and hydro business in a £702million deal. Drax Group is buying the portfolio of assets – power generation of 2,566 megawatts (MW).

Energy Voice 16th Oct 2018 read more »

Posted: 16 October 2018

Utillities

The collective profits of the UK’s six largest energy suppliers have fallen for the first time in four years due to rising competition in the market, according to a market-wide report from the energy regulator. Ofgem’s analysis of the energy market has found that overall profits for the Big Six dropped by 10pc to £900m last year as they lose their grip on the market to a new generation of energy start-ups. The companies face further pain this winter as the Government’s controversial cap on standard energy prices descends on around 11 million accounts, despite signs that competition in the market is improving. Over 73 energy companies are competing to supply gas and power to Britain’s homes, of which a quarter have opted for a new entrant to the market. Gillian Guy, the head of Citizens Advice, said the ri sing number of people opting for new energy suppliers “underlines why it’s so important that Ofgem tightens up its licensing rules”. “We know that some suppliers entering the market aren’t prepared to provide adequate customer service, or aren’t financially robust enough to survive. Poor customer service often hits vulnerable customers the hardest. It needs to stop poorly prepared companies from entering the market, and take badly performing suppliers out of the market quicker,” she said.

Telegraph 11th Oct 2018 read more »

Posted: 12 October 2018

Utility

A merger between SSE and Npower’s retail operations has been cleared by the UK’s competition watchdog. The Competition and Markets Authority (CMA) said it had given final clearance to the deal after concluding households would still have “plenty of choice” on standard variable tariffs (SVTs). It found the two providers were “not close rivals” on the tariffs, which offer the most expensive deals. The merger will create the UK’s second biggest energy supplier.

BBC 10th Oct 2018 read more »

Posted: 11 October 2018

Utilities

SSE and Npower merger given all-clear by competition watchdog. The deal to merge Npower and SSE’s retail operations has been given the all-clear by the competition watchdog, paving the way for the tie-up of two of Britain’s biggest energy suppliers.

Energy Voice 10th Oct 2018 read more »

The deal to merge Npower and SSE’s retail operations has been given the all-clear by the competition watchdog, paving the way for the tie-up of two of Britain’s biggest energy suppliers. The Competition and Markets Authority (CMA) said its decision to give final clearance to the Big Six deal comes after its investigation concluded households will still have “plenty of choice” on standard variable tariffs (SVTs). It found the two providers are “not close rivals” on the tariffs – the most expensive deals that had been an area of particular concern for the regulator.

Daily Mail 10th Oct 2018 read more »

Posted: 10 October 2018

Utilities

THE entrepreneur behind Together Energy has revealed he is looking to expand the challenger company beyond its home town of Clydebank. Paul Richards, the former British Gas executive who launched the firm in 2016, believes the model will work in other “post-industrial” towns. He has built the company, which has around 60,000 customers, on a dual philosophy of recruiting young people from disadvantaged backgrounds and driving operational cost efficiency.

Herald 6th Oct 2018 read more »

Posted: 7 October 2018

Utilities

The UK energy supplier acquired by Royal Dutch Shell as a vehicle for growth has lost tens of thousands of customers since agreeing the deal. First Utility supplied gas and electricity to 805,000 UK households when it agreed in December to be taken over by the Anglo-Dutch energy giant, which said it would use it to challenge the Big Six suppliers. It’s UK energy customer numbers have since fallen to 750,000, a drop of 7 per cent, as it faces competition from cut-price start-ups that it claims are unsustainably cheap. It also has customer service issues. The decline continues a trend that means First Utility has now lost almost a fifth of its UK energy customers since a peak of 920,000 households in mid-2016.

Times 6th Oct 2018 read more »

Posted: 6 October 2018

Areva

It will never end! The nuclear group, whose escapades have already cost 4.5 billion euros to taxpayers, could be claimed 24 billion by the US justice. This time, it is a case of corruption in the United States that is in question. Forget the scandal Credit Lyonnais 1990s and the 15 billion euros it has cost France. The Areva case is about to break all records. According to our information, the US justice discreetly warned early July the French authorities that it could launch a trial for corruption against the former tricolor floret of the atom. And that in case of conviction, the fine could go up to … 24 billion euros, the equivalent of one third of income tax revenue.

Capital 27th Sept 2018 read more »

Posted: 28 September 2018

Engie

Engie would have proposed to EDF to sell him its Belgian reactors. Engie’s CEO, Isabelle Kocher, has proposed to EDF’s CEO, Jean-Bernard Lévy, to sell to the public electricity group, the leading electricity supplier in France and in Europe, the seven Belgian nuclear power reactors. Engie. This is what reports Le Canard Enchaîné in its edition to be published this Wednesday. Isabelle Kocher has also suggested that EDF buys the 49% stake that Engie holds in the Compagnie Nationale du Rhône (CNR) – the rest of the capital of the French producer of renewable energies being public. A spokesman for Engie said the group had no plans to sell Electrabel or its stake in CNR. For its part, a spokeswoman for EDF declined to comment. Engie said Monday that it expected for this year an operating result (Ebitda) slightly lower than the indication provided earlier because of the prolonged shutdown of two nuclear reactors in Belgium.

L’Echo 25th Sept 2018 read more »

Posted: 27 September 2018