Energy costs review aims to sort ‘fact from fiction’

Energy costs review aims to sort ‘fact from fiction’

Business & Energy Secretary Greg Clark has launched an independent review into the cost of electricity.

The review will investigate how the energy industry, government and regulators can keep the cost of electricity as low as possible, while ensuring the UK meets its domestic and international climate targets.

Clark has appointed Dieter Helm, Professor of Economic Policy at the University of Oxford and a former member of the Council of Science & Technology that advised the Prime...

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Policy support ‘vital’ for greater battery storage take-up

Policy and regulatory changes are needed to support the deployment of energy storage batteries, according to a new report.

Insurance firm Axis and the Renewables Consulting Group concluded that support for storage demonstration projects was required.

The report said policy support would help the integration of variable renewables to meet national alternative energy targets.

The UK was one of only five countries that the report identified as having implemented the necessary regulatory changes.

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Strong summer for renewables

Renewable energy provided 30% of Great Britain’s power during the second quarter of the year, according to figures from analysis firm EnAppSys.

The data also revealed that July saw the lowest average electricity demand for eight years with the rise in embedded generation such as solar a key factor.

Renewables came in second behind gas-fired power stations in terms of electricity generation, which provided 38% of the country’s energy.

Nuclear plants accounted for 23%, while 7% was imported...

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UK’s biggest community energy deal signed

Power firm Mongoose Energy has sealed a deal to finance the UK’s largest community energy project.

A 14.7MW solar farm near Stratford-upon-Avon will be supported by energy storage batteries.

The facility will be built by renewables developer Anesco.

Mongoose has secured bridge finance from Social & Sustainable Capital (SASC) and senior debt from Close Brothers.

Community energy is ‘alive and kicking’

In the autumn, Mongoose plans to issue a series of community share and bond offers to...

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Surge in outsourcing in energy and utilities sector

Energy and utilities businesses outsourced contracts worth £268 million during the first six months of the year, according to outsourcing firm Arvato and industry analyst NelsonHall.

The figure was up 10% year-on-year.

The increase was due to customer services and collections being outsourced, to the tune of £164m.

The total number of outsourcing contracts signed in the sector rose by 20% year-on-year.

Combating switching

Deals with energy companies and other utility firms accounted for 15% of...

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Energy consumption could be cut by 60% says report

Turning “homes into power stations” could cut energy consumption by 60% and save the average home more than £600 a year, according to a new report.

Swansea University’s SPECIFIC Innovation & Knowledge Centre said the savings could be made if homes were designed to generate, store and release their own solar energy.

The centre has already created an energy-positive classroom using the idea.

The classroom combines an integrated solar roof and battery storage with solar heat collection on...

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Sector Round Up 15th August 2017

MeyGen reaches 1GWh milestone

The MeyGen project in the Pentland Firth between Scotland and Orkney has exported its first 1GWh of electricity to the grid.

Tim Cornelius, Chief Executive of owner Atlantis Resources, said: “Yet another milestone has been achieved as we continue to see the vast potential of the world’s largest tidal power array realised.

“It’s extremely rewarding for all those involved to see the fruits of our collective passion and labour continuing to deliver.”

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Ofgem unveils regulation reform strategy

Ofgem has outlined a new strategy for regulating the energy system to reflect what it said was the faster than expected pace of the low-carbon transition underway.

The watchdog said the move was designed to keep pace with major changes in how the country is generating and using energy.

As part of the strategy, Ofgem has also launched a significant code review looking into aspects of charging for using the energy networks.

Ofgem said its overall aim is to “ensure a regulatory framework that...

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Major utilities urged to embrace rapidly changing energy market

The big utility companies have been called on to embrace the major changes underway in the energy system.

The call came in a report from Forum for the Future and Friends Provident Foundation which drew on the expertise of six former utility company chief executives, energy ministers and a high-ranking civil servant.

Contributors Volker Beckers, Joan MacNaughton and Ian Marchant wrote an open letter to the Sunday Times newspaper to accompany the report, saying the big players that they needed to ...

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Networks chief refutes claims over price rise

The Energy Networks Association (ENA) has responded to claims that its members are responsible for a 12.5% price increase by British Gas-owner Centrica.

The ENA represents the companies that operate and maintain the gas and electricity grid networks in the UK and Ireland.

David Smith, the ENA’s Chief Executive, said: “Ofgem annual reports show that electricity network costs have increased by £10 since 2014, as companies have invested in our energy networks that has delivered record levels of...

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