The U.K.’s energy markets regulator said it’ll probe whether grid operators or power generators breached license conditions during the Aug. 9 blackout that saw more than one million British households lose power.
The demolition of a coal-fired power station where four workers were killed caused a power cut affecting about 40,000 people, energy firm SSEN said.
German utility RWE AG expects that one way or another natural gas and electricity will continue to flow across the English channel even if Britain crashes out of the club with no deal in March.
Mikhail Fridman, the Russian billionaire who was forced to give up North Sea oil and gas assets, has snapped up health and food retailer Holland and Barrett (H&B) for £1.8billion.
Polluting coal power generation will be ended by 2025 and new subsidies will help fuel a million homes from renewables in coming years, under measures set out by the UK Government.
The owner of energy provider npower has revealed it will slump into the red after taking a 2.1 billion euro (£1.6 billion) hit on its UK and German power stations.
The European Commission has approved plans to subsidise the conversion of a coal-fired power plant to burn biomass.
The benefits of offshore windfarms to the UK economy will be highlighted at an event next week.
Russian billionaire Mikhail Fridman has called on the UK Government to delay an October headline to sell its North Sea assets. The move comes after a first round of offers was understood to have disappointed. Earlier this year the UK Government decided to revoke North Sea oil field licences owned by DEA, RWE’s oil and gas unit bought by Fridman’s LetterOne.
The boss of Big Six energy firm Npower has left his post after German owner RWE took action following “unexpectedly negative” half-year results.
RWE will replace the head of npower and the British supplier's finance chief, two people familiar with the matter told Reuters, following long-standing billing problems and a loss of clients. Paul Massara, npower's chief executive since January 2013, will be replaced by npower Chief Operating Officer Paul Coffey, who joined from the German utility company's renewables division Innogy earlier this year, the people said. Npower Chief Financial Officer Jens Madrian will also step down from his post, the people said.
RWE, Germany’s largest electricity generator, today reported a 45% decline in full-year profits following a slump in power prices. Recurrent net income, the measure used to calculate dividends, dropped to£915.4million in 2014, from £1.65billion a year earlier, the Essen-based company said. Sales fell 7.5% to £34.7billion.
German utility RWE yesterday closed the sale of oil and gas production arm RWE Dea to Russian billionaire Mikhail Fridman, ending months of uncertainty over whether the £3.7billion deal would go ahead. But it causes embarrassment for the UK Government, which tried to block part of the transaction at the 11th hour, citing possible sanctions against the new owner. It remains to be seen how Westminster will respond to RWE Dea’s UK North Sea assets – now owned by new company L1 Energy – falling into Russian hands.
