The Informer

CBI warns Labour’s energy renationalisation plans ‘would damage economy’

Carolyn Fairbairn, Director-General of the CBI, has used a speech at Liverpool John Moores University to argue against Labour’s plans to nationalise the energy industry.

Fairbairn said the opposition party’s plans to bring the energy, water, rail and postal sectors under public ownership would cost the country more than £175 billion.

She added that the measures would also damage the pension pots of the eight million people who have money invested in stock market-listed utility companies.

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Lifecycle emissions focus urged

Understanding lifecycle emissions is “essential” to create markets for new low-carbon infrastructure, goods and services, according to two new reports.

The papers – both commissioned by business membership organisation Aldersgate Group – said that the UK Government must adopt a “much bolder innovation policy and ambitious market creation measures” that are informed by a clear understanding of lifecycle emissions.

Such policies and measures are needed if a net-zero emissions target is to bring ...

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Courts shut down renewable energy investment company

A company that sold investment opportunities in renewable energy plants has been shut down after it failed to pay back millions of investors’ funds.

UK Renewable Investments (AD) plc, based in Darlington, was wound up in the Business and Property Courts in Manchester and the Official Receiver has been appointed as liquidator.

The court heard that between July 2015 and September 2016 UKRI sold corporate bonds to 208 people. £2.5 million was raised and investors were told their funds would go...

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09/04/2019 - Sector Round Up

Rolls-Royce and ABB in deal to develop microgrids

Stable microgrids that bring together renewable energy and battery storage are the aim for a new collaboration between ABB and Rolls-Royce.

The two companies plan to pool their existing microgrid control systems to increase stability.

Andreas Schnell, Chief Executive at Rolls-Royce Power Systems, said: “Due to the transformation towards decarbonisation, customers need to pursue sustainable power options that also deliver utmost...

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Renewables help UK carbon emissions hit lowest level since 1890

Burning less coal to generate electricity helped the UK’s carbon dioxide emissions to fall by 2.5% last year to their lowest level since the 19th century, according to official figures.

The Department for Business, Energy & Industrial Strategy (BEIS) estimates that emissions are now the lowest they’ve been since 1890.

BEIS’s figures suggest emissions are now 39% below the levels of 1990, slightly more than the 38% estimate unveiled last month by analysts at Carbon Brief.

The country’s...

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National Grid confident on Summer outlook

National Grid’s newly created Electricity System Operator (ESO) arm believes the UK can generate enough electricity to meet demand this summer.

In its first Summer Outlook report since its ESO function was split off into a separate legal entity, the firm said peak demand is expected to hit 33.7GW, similar to last summer.

Minimum generation capacity is forecast to sit at 39.8GW, while minimum demand could drop as low as 17.9GW.

But the ESO said the amount of solar power connected to the grid...

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Plunge in battery prices aids renewables

A 35% year-on-year drop in the levelised cost of electricity (LCOE) from batteries to $187/MWh is helping renewables replace gas plants, according to Bloomberg New Energy Finance (BNEF).

Its analysts said the falling cost meant that batteries being installed alongside wind turbines and solar panels could now be used to provide “dispatchable” power to the grid when needed, replacing gas-fired power stations.

The LCOE for onshore wind fell by 10% year-on-year to $50/MWh, while solar dropped by...

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Scottish Renewables in warning over FiT ending

The future “remains bleak” for the small-scale renewable energy sector following the closure of the Feed-in Tariff (FiT).

That’s the warning issued by trade body Scottish Renewables, which calculated that more than 700MW of capacity has been installed by homes and businesses since the FiT began in 2010.

The organisation pointed to a string of companies that had already collapsed following cuts to the scheme, including Gaia-Wind, Endurance Wind Power, Mark Group, Climate Energy, and Renewables ...

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Bloomberg to launch decarbonisation tracker

Michael Bloomberg has unveiled plans to create a decarbonisation tracker to rank utility companies’ progress towards providing green energy.

The founder of the Bloomberg business information service and Bloomberg Philanthropies expects to launch the tracker during the United Nations (UN) Secretary-General’s Climate Summit in September.

Bloomberg – who is the UN Special Envoy for Climate Action and Chair of the Financial Stability Board Task Force on Climate-related Financial Disclosures...

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Industrial energy efficiency scheme consultation launched

Ministers are seeking views on the £315 million Industrial Energy Transformation Fund (IETF), which will help companies to improve their energy efficiency and lower their energy bills.

The IETF, which was announced during last year’s Budget, will support the energy-intensive industries and other large energy users.

A competitive bidding process for funding is likely to be introduced under the current proposals.

The consultation closes on 31 May.

Differentiated criteria

The Department for...

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