Energy and clean growth minister Claire Perry has attempted to downplay the impact of the ‘standstill’ imposed on the UK’s Capacity Market, courting accusations of dishonesty from the company behind the legal challenge that resulted in the suspension of the scheme.
Equinor, the Norwegian state-owned energy giant formerly known as Statoil, has invested in a near 10% stake in compatriot solar firm Scatec.
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.
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