UK energy regulation News
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UK energy regulator fines National Grid GBP 41.6m for gas metering breaches
UK energy regulator Ofgem has fined National Grid £41.6 million for a breach of competition law that restricted the development of competition in the domestic gas meter market. The decision demonstrates Ofgem’s commitment to taking action where there is evidence that a company has acted in a way that restricts competition and harms customers. Ofgem’s Chairman, Sir John Mogg, said: “Ofgem has ...
By Ofgem
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Plans for tough new energy market manipulation penalties
Anyone found guilty of rigging wholesale gas and electricity prices could face up to two years in jail under proposals being put forward by Energy and Climate Change Secretary Ed Davey. These laws would give UK energy regulators new powers to prosecute people suspected of abusing the energy market. Under the new laws, it would be a criminal offence to fix the price of energy at an artificial ...
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Windy December lifts Orsted 2019 profit; UK to develop new offshore grid networks
Our pick of the latest wind power news you need to know. Orsted beats operating profit outlook after windy December Orsted, the world's largest offshore wind developer, beat its full-year operating profit outlook in 2019, but expects slightly lower earnings in 2020, the company announced January 30. Annual earnings before interest, taxation, depreciation and amortization (EBITDA) rose by ...
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UK reopens onshore wind subsidies; Nordex turbine orders rise 31%
UK removes block on onshore wind subsidies UK onshore wind developers will once again be allowed to compete against other renewable energy types for government subsidies, according to new rules announced by Boris Johnson's Conservative government March 2. The move removes a four-year moratorium on government support for onshore wind projects, imposed by the previous Conservative government to ...
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UK cities to adopt decentralised energy production and stop ‘big six’ monopoly
The Institute for Public Policy Research (IPPR) released a report this week that urges cities to engage in the energy supply market and financing low-carbon local energy projects. The report outlines various options to raise finance for clean energy projects, in order to help tackle Britain’s energy security issues, lower bills for consumers and create jobs. Decentralised energy ...
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UK offshore developers predict savings from plug-in grid
A new meshed offshore grid design being assessed by UK authorities could support clusters of projects further from shore and reduce the need for energy storage, industry experts told New Energy Update. Earlier this month, UK energy regulator Ofgem announced it would develop a new offshore transmission system to minimize the cost of rapid growth in offshore wind power in the coming years. ...
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Smarter Business Welcomes Small Business Energy Market Review
Energy regulator Ofgem will be launching a review of the small business energy market this year to protect microbusinesses from being ripped off. The Competition & Markets Authority estimates that small businesses are overpaying on energy by £500 million a year, with suppliers making four times the margin on small businesses than they do on large customers. The UK has energy regulations ...
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CellCube, Immersa and Hive Energy Building Green Peaker Plants
CellCube Energy Storge Systems recently announced that Hive Energy, Immersa Ltd. and CellCube have formed a consortium to jointly build and develop Solar & Storage projects at a grid scale level to offer green peaking power and reserve power capacity. HICC Energy Ltd. was founded April 17, 2019 by Hive Energy to bring their joint portfolio of projects to market. HICC will be a special vehicle ...
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