Energy secretary Greg Clark has triumphantly declared the energy trilemma to be over in a landmark speech which established a new set of principles to steer future development of the energy market.
The government has failed to rule out that it may have to recover capacity market payments already made to contract holders as a result of today’s landmark ruling by the European Court of Justice.
The future of the Capacity Market has been plunged into doubt after the European Court of Justice annulled the European Commission’s decision not to object to the scheme.
SSE has spun out its renewables activities into an entirely new unit, SSE Renewables, as it bids to lead on low carbon energy.
Germany energy giant innogy has been forced to revise down some divisional forecasts on the back of what it has described as “extraordinary low” wind levels.
Energy secretary Greg Clark has said the UK’s “substantial” pipeline of renewable energy projects could offer a replacement to the capacity lost by the scrapping of Toshiba’s plans for a new nuclear power station in Cumbria.
There must be an “unprecedented global political and economic effort” to shift energy towards more sustainable means if climate targets are to be reached, the International Energy Agency (IEA) has warned.
SSE and innogy have been forced to renegotiate and possibly delay the proposed merger of their supply divisions, laying the blame squarely at Ofgem’s looming price cap.
Utilities, automakers and big oil companies will drive the deployment of electric vehicle charging infrastructure, according to a new report by EY, which warns that despite market uncertainty, investment needs to be made or “it’s highly likely they’ll be late to the party”.