Posted on: 09/02/2016
SSE faces Capacity Market fine over closure of most of Fiddler’s Ferry
SSE faces paying a £33 million fine for not fulfilling a Capacity Market contract for the winter of 2018-19 if it proceeds with plans to close three of the four furnaces at its Fiddler’s Ferry coal-fired power station in Cheshire.
The fourth unit is due to remain open thanks to a contract to provide power during the winter of 2016-17.
Paul Smith, SSE Managing Director, Generation, said: “The fact it makes more sense for SSE to contemplate making a substantial payment in lieu of the capacity agreement relating to Fiddler’s Ferry in 2018-19 demonstrates just how economically challenged Fiddler’s Ferry has become – its losses are unsustainable.”
> See SSE's statement
EVs will be ‘car park of energy storage’ says Innovate UK
Innovate UK, formerly the UK Government’s Technology Strategy Board, has stressed that it’s safe to use the batteries inside electric vehicles as storage devices.
Mark Thompson, Innovate UK’s lead technologist for energy systems, told a recent event that using electric vehicles for grid support would not damage their batteries.
His comments came as Innovate UK awarded £20 million to eight projects to develop autonomous vehicles.
> View Innovate UK's statement
British Gas to cut 500 jobs
British Gas-owner Centrica is to cut 500 jobs following a consultation that began in July.
Mark Hodges, Chief Executive, Energy Supply & Services, UK and Ireland, said: “I recognise that this will be difficult news for the employees who may be affected.
“However I believe today’s announcement is in the best long-term interests of the business.”
> See Centrica's statement
ScottishPower to reduce domestic gas prices
ScottishPower has become the third of the “big six” energy companies to cut its domestic gas prices.
Prices will fall by 5.4% from 15 March for customers on standard tariffs.
The utility firm thinks more than one million customers will benefit.
> See ScottishPower's statement
Dong gives final investment approval for world’s largest offshore wind farm
Dong Energy has taken its final investment decision to proceed with the building of Hornsea One, the world’s largest offshore wind farm.
The 1.2GW wind farm, which will be able to power more than one million homes, will be built off the coast of Hull and is expected to begin operating in 2020.
News of the green light for the investment came as a report from the European Wind Energy Association showed that Germany has overtaken Britain when it comes to installing offshore wind turbines, installing 2.2GW of capacity in 2015, compared with the UK’s 556MW.
> Read Dong's announcement