Inspired plans £35m fundraise to buy rest of Ignite, eyes more deals
Inspired Energy plans to raise up to £35m to acquire the rest of Ignite and take advantage of market conditions to make further buys.
The...
Smartest Energy signs PPA for 42MW Newhurst EfW plant
Smartest Energy has signed what it claims is one of the largest power purchase agreements to date in the energy-from-waste sector.
The Marubeni-owned firm has...
Drax faces threat of strike vote over redundancies
Drax is facing the prospect of a workforce vote for its first ever strike, over allegations of ‘bad faith’ surrounding more than 200 compulsory...
Simec Atlantis waste-to-energy burn tests “couldn’t have gone better”
Mitsubishi Hitachi Power Systems says industrial burn tests of the waste-derived pellets to Simec Atlantis plans to use at Uskmouth Power station "couldn't have...
SSE business energy slumps to loss as bad debt bites
SSE’s business energy division slumped to an £18.5m loss for the year to 31 March, down from £51.6m profit the prior year.
Electricity sales to...
BP: leaves oil in ground, prepares for £80/t carbon price by 2030
BP today became the first global oil giant to accept hydrocarbon reserves must remain unexploited, if the firm is to survive. It's also preparing...
Covid-19 and energy contracts: Making volume tolerance clauses interesting
Catalyst Commercial Services CEO, Chris Hurcombe, discusses Covid-19's impact on business energy contracts - and how volume tolerance clauses could prove costly, if enforced.
The...
Centrica axes 5,000 jobs
Centrica is to cull a further 5,000 jobs this year, including around 20 top-level directors.
New CEO Chris O'Shea is attempting to curb heavy losses...
Bristol City Council to try and sell Bristol Energy
Bristol City Council will attempt to sell Bristol Energy. The company was set up in 2015 and has struggled financially.
The council last month appointed...
Coronavirus’s impact on the UK energy market: Free webinar
Here at EDF we are committed to providing customers with as much information as possible, on all aspects of their energy consumption.
The wholesale energy...
Sizewell C: EDF prepares to push nuclear option
EDF is seeking planning approval for its 3.2GW plant at Sizewell C on the Suffolk coast. The state-owned utility plans to test UK government...
Greenpeace slams mega solar farm in Kent, Drax closes in on 3.6GW gas giant
Two minute briefing on energy stories to start the week:
Britain’s biggest solar farm, Hive Energy and Wirsol Energy’s £450m Cleve Hill project on...
Ovo axes 2,600 jobs
Ovo Energy is to make 2,600 staff redundant by the end of the year.
The company cited customers switching to online self-management and a slump...
Eon doubles revenues, but Npower pushes UK business into loss
Eon doubled group first quarter revenues after bringing Innogy into the fold. Revenues stood at £15.6bn with earnings up 34 per cent to £1.29bn.
However,...
Eon and Npower’s industrial and commercial businesses to merge
Eon and Npower's business energy supply units are to merge.
Npower's business supply unit was originally left out of the deal which saw its domestic...
Bristol Energy appoints EY to ‘assess future business viability’
Bristol City Council has appointed EY to conduct “a full and thorough assessment of Bristol Energy’s structure and future business viability”.
That structure may lie...
Australia’s Origin takes £265m stake in Octopus Energy
Australia’s largest utility will pay £265m for a 20 per cent stake in Octopus Energy.
It will pay £70m on completion and £195m in batches...
Eon: Lockdown sees business energy demand fall 38 per cent
Business energy demand has dropped 38 per cent on average since the start of coronavirus lockdowns, according to Eon.
Leisure, hospitality and real estate sectors...
RWE picks new CEO
Current CFO Markus Krebber will replace Rolf Martin Schmitz as CEO of utility RWE next year.
Schmitz has been CEO since 2016, overseeing major structural...
Robin Hood Energy under review after £23m loss
Nottingham Council owned energy supplier Robin Hood has posted a £23.1m loss for 2018/19.
While the firm’s management says it is “confident” financial stability can...