Equinor, the energy major formerly known as Statoil, has acquired power and gas trading firm Danske Commodities for €400 million (£350 million).
The low carbon and renewables economy posted strong growth in 2017, but onshore wind and solar PV continued to be beset by a retraction of government support.
With npower shelling jobs and even the quickest-growing independents struggling to turn a profit, it’s becoming increasingly clear that margin-based business models are a thing of the past. Liam Stoker reflects on a week which has proven the direction of travel for energy suppliers lies away from pure commodity sales.
Innogy-owned UK energy supplier npower has announced it will lose as many as 900 jobs over the coming year as part of a major cost reduction programme.
Oil and gas majors are expected to make significant plays in the solar sector in the coming years as continued cost reductions threaten their margins.
Haven Power, the Drax-owned renewable energy supplier, has announced a partnership with demand side response firm GridBeyond to target Haven’s business customer base.
Octopus Energy has been awarded just over £13 million to cover the debts of defunct supplier Iresa Energy as a tenth energy retailer went bust.
UK Power Networks has officially placed its landmark ‘Smarter Network Storage’ battery in Leighton Buzzard on the market.
RWE has assembled a team of six industry stalwarts to leads its renewables business ahead of its planned deal with E.On.