Equinor eyes broader energy play with €400 million Danske Commodities acquisition
Equinor, the energy major formerly known as Statoil, has acquired power and gas trading firm Danske Commodities for €400 million (£350 million).
Supply
UK low carbon economy grew in 2017 despite continued solar, onshore wind contractions
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.
Npower to lose 900 jobs in major cost reduction programme
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.
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Big oil and gas won’t ‘sit around while renewables cannibalise their profits’
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 pens DSR contract with GridBeyond to target business customers
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 handed £13.2 million to cover Iresa debts as tenth supplier goes bust
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.
UKPN puts landmark Leighton Buzzard battery on the market
UK Power Networks has officially placed its landmark ‘Smarter Network Storage’ battery in Leighton Buzzard on the market.
RWE achieves ‘major milestones’ as it preps renewables unit for global push
RWE has assembled a team of six industry stalwarts to leads its renewables business ahead of its planned deal with E.On.