Why market for UK energy providers needs reform. Regulator urged to tighten rules for newcomers as number of failing companies grows. It was a bad week for the 36,000 customers of energy provider One Select. On the Saturday the company that supplied their gas and electricity was crowned the worst provider of customer service in the sector. On Monday it went bust. Part of a growing trend. Eight providers across the UK failed last year not counting a further four which exited through corporate transactions, and as many as 10 more could follow suit over coming months.
FT 3rd Jan 2019 read more »
THE sale of more than £700 million worth of assets by Scottish Power has been completed, meaning that the energy company is now the first in the UK to rely completely on renewable wind power. Selby-based Drax said it was “pleased to announce that it has completed the acquisition of Scottish Power’s portfolio of pumped storage, hydro and gas-fired generation, which comprises ScottishPower Generation Group and its wholly owned subsidiary, SMW”. Drax shareholders approved the deal at a general meeting held on December 21 2018 and the acquisition from Scottish Power’s owners Iberdrola was formally completed on December 31. Among the assets being sold are the giant Cruachan pumped storage hydro electric scheme in Argyll and Bute which has a 440 megawatt capacity, run-of-river hydro locations at Galloway and Lanark (126MW) and a biomass-from-waste facility at Daldowie as well as four Combined Cycle Gas Turbine stations in England: Damhead Creek (805MW) in Kent, Rye House (715MW) in Hertfordshire, Shoreham (420MW) in West Sussex and Blackburn Mill (60MW) in Lancashire.
The National 3rd Jan 2019 read more »
City AM 2nd Jan 2019 read more »
