The Informer

Long-term certainty needed to implement Green Finance Strategy

Investors must be given long-term certainty and clear policies in order to fuel the UK Government’s Green Finance Strategy, the energy industry has said.

The strategy will require companies listed on the stock market to disclose by 2022 how climate change affects their operations.

Lawrence Slade, Chief Executive of trade body Energy UK, said: “Net-zero will also mean finally getting serious about making our housing stock energy efficient so it’s also positive to see support for creating...

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Tory leadership candidates push green credentials

Boris Johnson and Jeremy Hunt have outlined their environmental stances as they try to woo Conservative party voters.

Johnson addressed the Conservative Environment Network (CEN), where he promised to “advance” the Department for the Environment, Food & Rural Affair’s (DEFRA’s) agenda.

Hunt couldn’t attend the meeting, but a statement was read-out in his behalf in which he said he wanted to make the UK the “greenest economy in Europe”.

Neither candidate endorsed the CEN’s manifesto, which...

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Distributed generation ‘essential’ to net zero goal

Businesses and homes generating energy locally must be at the heart of the UK’s policy for meeting its net zero carbon emissions goal, according to a new report.

The Association for Decentralised Energy (ADE) used its response to the Committee on Climate Change’s (CCC’s) net zero report and the UK Government’s net zero target to call for a greater focus on onsite generation and energy management.

The trade body said that ultra-low carbon onsite combined heat and power – which would capture...

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The Informer

09/07/2019 - Sector Round Up

National Grid unveils £7.4bn future network plan

National Grid Electricity Transmission has submitted its second round Revenue = Incentives + Innovation + Outputs (RIIO-2) bid to Ofgem.

The transmission network operator wants to spend £7.4 billion between 2021 and 2026.

The sum represents an increase from £1.2bn a year to £1.5bn, but the company said new technology means the costs would be 15% lower than previous forecasts.

> Read National Grid's RIIO-2 submission

Stricter Ofgem finance...

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CBI urges tax reforms to support more renewables

Ministers need to rationalise the tax and business rates system to ensure green energy is encouraged, not penalised, according to the CBI.

In a letter to Energy Secretary Greg Clark, the business organisation outlined how it wants to see the economy decarbonised.

CBI Chief Economist Rain Newton-Smith said: “Business is right behind the need for the UK to have a net-zero economy by 2050 and build on our global leadership in cutting greenhouse gas emissions."

“Firms want to see a whole host of...

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European balancing platform faces delays

The Trans-European Replacement Reserve Exchange – known as Project Terre – faces a six-month delay after French transmission network operator RTE met with “difficulties” in implementing its new systems and controls.

The Europe-wide project aims to create a replacement reserve balancing product in participating countries.

Great Britain has signed up to the scheme, along with the Czech Republic, France, Italy, Poland, Portugal, Spain and Switzerland.

Britain’s only route to participate in the...

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Hinkley Point C hits key milestone on time

Engineers from construction firms Laing O’Rourke and Bouygues have finished laying the concrete base for the first nuclear reactor at Hinkley Point C in Somerset.

The base is the largest concrete structure in the UK, beating a previous record set by the Shard in London.

Station developer EDF hailed the moment as the “biggest milestone yet” for Hinkley and said it was achieved on time.

Engineers are expected to finish laying the base for the second reactor in June 2020.

Identical plan for...

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G20 countries increase coal subsidies

Subsidies given to the coal industry by the G20 group of industrialised countries have tripled, according to a report by the Overseas Development Institute (ODI).

China, India and Japan have given the largest subsidies to the coal industry, followed by South Africa, South Korea, Indonesia and the United States.

The increases have come despite the G20 pledging a decade ago to phase out fossil fuel subsidies.

While the UK is phasing coal out of its electricity system, it has been criticised by...

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Government presses ahead with VAT increase on renewables

HM Revenue & Customs has tabled legislation that will increase the rate of value-added tax (VAT) on solar panels and batteries from 5% to 20%.

The move follows a ruling by the European Court of Justice.

Coal for domestic use will continue to receive the discounted 5% rate.

Good Energy has launched a campaign to stop the VAT increase.

Worst reaction to climate emergency

Juliet Davenport, Chief Executive at Good Energy, said: “The proposed solar tax hike is possibly the worst way to respond...

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Wider benefits of solar farms highlighted

Solar farms are home to six times as many pollinating insects such as bees than neighbouring fields, according to a new report.

The Solar Trade Association (STA) found that solar farms can perform a wide range of “ecosystem services” including; biodiversity and habitat provision; flood mitigation; carbon storage; soil erosion mitigation; community engagement; and pollination for food provision.

The report uses case studies of STA members including Next Energy Capital, Foresight Group,...

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