ESO's Head of Digital Transformation and Innovation Strategy, Carolina Tortora, says Virtual Energy System 'will serve as a vessel for every element of the British energy industry to publish its data onto a decentralised system.'
Grid operators have picked GE Vernova and Mytilineos Energy & Metals to help deliver infrastructure for a £2.5bn subsea cable linking the Central Belt and north east England.
The first priority is to secure regulatory approvals. SunCable will apply to the Singapore Energy Market Authority (EMA) to secure an import licence later this month.
The capacity of electricity transmission assets in the UK has been in the spotlight, because a bigger, more complex network is needed to meet the Government’s net zero targets.
Cerasoli said the FERC rules were a good start. “The next problem, though, is that the grid is not going to be large enough to cope with the expansion of power, it needs to be upgraded,” he said.
Ofgem has slashed the price cap on energy bills to £1,923 after wholesale energy prices fell further, it announced on Friday.
Fixed energy tariffs are making a comeback in the UK, allowing consumers to lock in power and gas rates now that prices have eased from last year’s record levels.
Ofgem and National Grid have set out plans to free up to 8GW of grid connection capacity from slow-moving developers, without incurring penalties.
Germany’s buyout of its biggest power grid operator from the Dutch state is likely to be postponed until next year following the collapse last month of the Netherlands government and with little prospect of a new administration anytime soon.
A major report into the UK’s electricity infrastructure calls for ‘vital’ reforms to consenting in Scotland to ensure enough transmission can be built to accommodate new wind generation.
Eskom has imposed conditions to access the national grid on 1,850 megawatts worth of projects in South Africa that developers including Karpowership and Electricite de France have struggled to complete since they were awarded in March 2021.
Japanese conglomerate Hitachi has won work on Eastern Green Link 2 (EGL2); a major project to boost grid connection between Scotland and England.
“The issue these days with banking is not so much that there isn’t interest, but it’s more about how it’s structured. Smaller developers don’t know how to access these frameworks.”
National Grid Electricity Transmission (NGET) and SSEN Transmission have agreed the terms of a joint venture to build a subsea power “superhighway” linking northeast Scotland and England.
Shell (LON: SHEL) will increase its dividend per share by 15% in the second quarter of the year and reduce spending elsewhere as part of CEO Wael Sawan’s Capital Markets Day pitch in New York.
It's hoped the policy will see a greater focus on value and investment - rather than lower costs - for crucial grid connections.
Ofgem is expected to lower household energy bills to an average of £2,053 a year from July to reflect tumbling wholesale prices, according to analysts.
A forum of Highland community councils is being created to unite a campaign over a controversial planned new power line.
The UK government is set to make £1.2 billion ($1.4 billion) from a short position it took in power and natural gas markets after seizing control of collapsed supplier Bulb Energy last year.
Ofgem is lowering its energy price cap - the amount suppliers are able to charge - from the current £4,279 per year to £3,280 for the average household, effective from April 1, it has announced.
The UK’s grid operator will reform the way power generators apply to connect to the system to make it easier and faster to ramp up renewable capacity.
Shell is working with US investment bank Lazard Ltd. to evaluate options including a sale of its European retail gas and power business, according to people familiar with the matter.
The Government has charged a new taskforce, chaired by the boss of NatWest, with working out how to significantly cut UK energy consumption over the next seven years.
The Westminster government is facing fresh demands to overhaul an electricity subsidy for northern Scotland after its latest review was branded an “insult” and a “whitewash”.
British Gas is under pressure to explain how it will compensate "vulnerable" customers who faced debt collectors forcibly installing prepayment meters in their homes.