Power prices continue higher today – DMR

Power prices have opened higher this morning, according to the daily market report, continuing the bullish run observed yesterday. Alex Guiot, Client Portfolio Manager on npower’s Optimisation desk said: “Power prices are firming on the latest Russian gas cut threat. March ’15 is currently trading at £42.10 per megawatt-hour (/MWh) that is one pound up […]

£14m to boost wave energy in Scotland

The Scottish Government is giving £14.3 million to support its first wave energy technology body – Wave Energy Scotland (WES) The first payment of £1.3 million will cover the costs of establishing the new entity and acquiring assets from Pelamis Wave Power who went into administration last year. The remainder of the money – available […]

Scotland a major hub for oil and gas industry

The Scots do well when it comes to industry experience for oil and gas. New research found that almost 80% of industry leaders cited Scotland as having an important role in the international sector. The Scottish Development International survey of senior global industry figures found that 74% of respondents recognise its position as one the […]

Statoil awards NOK 8bn for oil platform

Statoil has awarded a contract worth NOK 8 billion (£0.7bn) to build an offshore drilling platform. Aibel won the contract which includes engineering work, procurement and construction for the Johan Sverdrup field. The region has recoverable resources of 1.7 and 3 billion barrels of oil equivalent, according to Statoil. The field will account for roughly […]

Russia threatens to cut Ukraine gas supply

Russia’s state-owned energy giant Gazprom warned today it could cut off gas supplies to Ukraine in two days if it fails to pay for the deliveries. Last year Gazprom switched Ukranian energy firm Naftogaz to a pre-payment scheme for failing to pay its bills. According to analysts, the payment deadline for the next chunk of […]

France-Spain power line complete

A new power line that connects France and Spain has been completed. The Baixàs electricity link will double the existing interconnection capacity between France and Spain to 2,800MW. The 64.5-kilometre long interconnector also helps connect the power system of the Iberian Peninsula to other European energy markets. Completion of the project is part of a […]

Crimestoppers help to combat energy theft

Hundreds of millions of pounds are being wasted because of energy theft in the UK – particularly in the North East. That’s why Crimestoppers – the charity which helps the police solve crimes – is launching a campaign to raise awareness of the dangers of meter tampering and energy theft. It is part of an […]

Offshore wind farm provides £2m cash boost

A wind farm project located off the East Riding of Yorkshire coast is providing £2 million to help local communities. Utility giant E.ON announced the funding as part of its Humber Gateway Offshore Wind Farm project, which has generated electricity for the first time. The wind farm is expected to produce enough renewable energy to power […]

Power prices up today – DMR

The Russian gas threat has led to an increase in power prices, according to the daily market report. Alex Guiot, Client Portfolio Manager on npower’s Optimisation Desk said: “Power prices are firming on the latest Russian gas cut threats. March ‘15 is trading at £41 per megawatt-hour (/MWh) 75 pence up and the summer ‘15 […]

More pressure for Chinese firms to cut emissions

The Chinese corporate sector must act now to reduce its greenhouse gas emissions to keep global warming below 2°C. WWF-China and Ecosys claims the nation’s companies will need to cut their emissions by 2.7% each year while the electricity industry must reduce emissions by 8% a year to stay within the two-degree scenario. China overtook the US as the world’s […]