The collapse of Avro Energy, affecting 580,000 customers, presents a significant test for Ofgem’s Supplier of Last Resort mechanism. Experts tell David Blackman that it’s a "flip of a coin” as to whether the process will cope.
Business energy supplier and third-party gas shipper, CNG Group, has hired Interpath Advisory following the recent rise in wholesale energy prices. The Glencore-backed company, which is based in Harrogate, serves 46,500 meter points which are primarily SMEs. Its wholesale shipping business has a portfolio of 30 smaller companies.
Autoswitching service Flipper has announced it is ceasing to trade amid the continuing turmoil in the energy retail market. In a statement the company cited recent supplier failures due to the increase in wholesale prices, and subsequent removal of low-cost tariffs. The demise of Flipper comes as several price comparison websites paused their energy services amid suppliers withdrawing their deals.
National Grid, Petrofac and US-based Summit Power will bid for funding under the next government carbon capture and storage (CCS) competition for a new coal-fired plant at Port of Grangemouth, west of Edinburgh on the Firth of Forth. Environmental groups are dismayed becasue the captured carbon could be used to recover more oil from North Sea wells.
The government's apparant inability to find a counterparty to guarantee the contracts for difference (CFD) element of its proposals to reform the electricity market could lead to the Renewables Obligation (RO) being extended three years until 2020. That's the view of one of the MPs on the Energy and Climate Change Select Committee.
The full European Parliament has approved the European Commission's low-carbon roadmap 2050 but called for changes to Europe's emissions trading system (ETS) and a mandatory renewable energy target for 2030.
Scottish Power has confirmed that the Cockenzie coal-fired power station will close in one year's time. From next month, the station's output will be halved to 550MW to manage the remainder of the 20,000 hours it was allowed to operate after opting out of the Large Combustion Plant Directive in 2008.