EU clears Centrica’s gas plants sale for £318m

The European Commission has approved the buyout of Centrica’s combined cycle gas turbine (CCGT) power stations by a UK arm of a Czech utility company. The Langage and South Humber Bank CCGT plants, with a combined capacity of 2.3GW, are located near Plymoouth and Stallingborough. The sale is part of Centrica’s strategy to invest more in […]

npower profits down 38%

Energy supplier npower admitted profits are down 38% for the first half of 2014. Profits dropped from £176 million in January to June 2013, to £109 million for the same period this year, according to its half-year performance figures. The UK supplier which is owned by German energy giant RWE said this represents a profit of […]

Rivals nipping at our heels suggests Centrica

Smaller suppliers are nipping at the heels of Centrica, stealing 180,000 residential UK customers from British Gas this year. The British energy giant released its interim management statement today, stating “competition remains fierce” in the domestic energy business. It said smaller suppliers are “currently benefiting from an exemption from some environmental obligations”, adding its revenues […]

Coal outages could mean more gas plants online

Coal plant outages in the UK mean more gas power plants should be looking to come online suggests today’s market from npower analysts. Effectively this means the amount of money you make for running a gas power station has widened at the moment. Steven Walker, Client Portfolio Manager at npower said the price for “clean […]

15 year deals for new gas in capacity market

Final details of how power plants including new and existing gas ones will be paid to have power on standby were brought out by DECC yesterday. Called the “capacity market”, it will operate alongside the existing electricity market and agreements between government and plant owners will be decided four years ahead of the year capacity […]

Renewables 'making gas plants unprofitable for utilities'

Renewable energy sources are making European gas power stations unprofitable for utilities, suggests new research by consultancy Capgemini. In some cases gas plant operators are effectively paying to stay on the grid, according to Colette Lewiner, Capgemini’s Energy and Utilities worldwide expert. That’s partly because renewables get priority over gas on putting power into the […]

Gas sector not so gushing over Osborne’s strategy

The sector’s response to the Government’s Gas Strategy was less gushing and more of a trickle as engineers said they were “disappointed” there was no sign of new investment in gas-fired power plants. In his Autumn Statement the Chancellor George Osborne stated yesterday the Coalition would “ensure we make the best use of lower cost […]