National Grid believes that a new pan-European market for reserve power can meet 25% of the GB system’s balancing needs and cut GB balancing costs by €13 million a year.
Last year the UK’s share of loans from the European Investment Bank (EIB) fell to a third of that in the previous year. In a review of 2017, the EIB said it had approved 901 projects in the year, up 15% on 2016.
National Grid Electricity Transmission (NGET) has fiercely resisted Ofgem claims about the costs of building and operating a transmission line to transport power from Hinkley Point C.
ElectraLink, the Code Administrator for the Distribution Code Use of System Agreement (DCUSA) will be acting as chair and secretariat for the Code Administrators Code of Practice (CACoP) in 2018.
UK Power Networks and Open Utility are planning to develop and an online marketplace for local flexibility.
Legal & General Capital and Systemiq have announced an investment in Upside Energy.
Sir John Armitt has been confirmed as permanent chair of the National Infrastructure Commission. He replaces Lord Adonis.
Patrick Caiger-Smith, the CEO and co-founder of geo, has been appointed president of Beama.
Toshiba has sold Westinghouse Electric Company – the nuclear company whose plant design is intended for construction in Moorside, Cumbria – to Canadian asset manager Brookfield for $4.6 billion.
E.On has confirmed it will sell its 46.65% stake in spin-off Uniper to Fortum for €22 per share. The voluntary takeover offer was made on 7 November.
RWE has started the new year with a new setup in its generation business.