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Weather to Blame for Scottish Power’s Poor Profits

By : Business Save |November 22, 2019 |Energy Blog |0 Comment

Weather to Blame for Scottish Power’s Poor Profits

Big Six energy supplier Scottish Power has blamed the weather for an 80% drop in their profits. They also cited the energy price cap as another reason. Despite their wind-based renewables business growing, the firm has now lost around 165,000 customers over the last twelve months.

The firm says they have sold 10% less electricity and 8% less gas so far this year. While primarily blaming weather and price caps, they do acknowledge a significant loss of customers is also partly to blame. Their customer numbers have fallen from a still 4.78 million from November of 2018 to 4.62 million now.

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Privately Funded Cross-Channel Electricity Link Submitted

By : Business Save |November 12, 2019 |Energy Blog |0 Comment

Privately Funded Cross-Channel Electricity Link Submitted

A privately funded electricity link between England and France has been submitted. It will cost £1.1 billion and will stretch for 148 miles between Lovedean in Hampshire and Normandy in northern France.

The plan has been submitted by Aquind Ltd. The two-way link has the potential to supply up to 5% of Britain’s energy requirements. The energy supplied should be also be cheaper and greener, Aquind say.

If the Planning Inspectorate approve the application, energy should start being delivered beneath the channel by 2023.

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Energy Prices Fall as Inflation Hits 3-Year Low

By : Business Save |November 07, 2019 |Energy Blog |0 Comment

Energy Prices Fall as Inflation Hits 3-Year Low

UK inflation increased at its lowest pace in nearly three years thanks to the energy cap keeping energy prices down. According to the Office for National Statistics, consumer prices rose just 1.5% during October, compared to 1.7% in September.

The Office for National Statistics is the executive office of the UK Statistics Authority. The body consists of a non-ministerial department reporting directly to Parliament.

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SSE Launches New Free EV Tariff

By : Business Save |October 31, 2019 |Energy Blog |0 Comment

SSE Energy Services recently announced a new beneficial tariff for electric vehicle owners. The new tariff provides up to 2,000 kWh of free electricity annually when they charge their car overnight at home.

SSE is the UK’s third-largest energy provider with approximately 5.7 million customers throughout the country. The ‘Big Six’ supplier estimates their One Year Fix and Drive tariff will provide around 8,000 free miles per year. An additional benefit is that all electricity derived from the tariff will be matched with 100% renewable electricity.

The energy provider says that both new and existing customers can use the tariff. To demonstrate their faith in the benefits of their tariff, there will also be no exit fee.

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OVO Acquires Stake in Renewable Exchange

By : Business Save |October 23, 2019 |Energy Blog |0 Comment

UK energy provider OVO has bought a minority stake in the clean energy marketplace Renewable Exchange. The announcement follows OVO’s purchase of SSE’s retail arm for around £500 million.

The Renewable Exchange allows renewable energy asset owners to compare bids from multiple parties for their electricity. The organisation has helped install a capacity over 1GW of renewable energy via their power purchase agreements. They intend to use OVO’s investment to hasten the development of its digital power purchase agreement market platform.

Once complete, the digital power purchase agreement market platform will connect even more distributed renewable energy generators to suppliers.

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Ofgem Implement New Checks on Energy Suppliers

By : Business Save |October 15, 2019 |Energy Blog |0 Comment

Ofgem have recently proposed further new checks and testing for existing energy suppliers. The additional new rules will apply to all energy companies to improve customer service standards. They will also reduce the risk of supplier failures and strengthen Ofgem’s safety net.

Existing suppliers will now need to inform Ofgem of any independent audits of their customer service operations and financial status.

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Big Six Energy Firm Says Ofgem Needs Reform

By : Business Save |October 07, 2019 |Energy Blog |0 Comment

The energy industry regulator Ofgem has been told that it needs reform by ‘Big Six’ energy provider Scottish Power. The firm also specifically accused the energy watchdog of stalling the electric vehicle rollout.

The accusation was made after Ofgem refused upgrade investments that would help them cope with the demand for electric vehicles.

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Mass Power Outage Caused by Demolition

By : Business Save |September 25, 2019 |Energy Blog |0 Comment

A controlled demolition of the cooling towers of a disused power station recently caused a massive power outage in Oxfordshire. Energy supplier Scottish and Southern Electricity Networks (SSEN) confirmed that the power outage affected approximately 49,000 homes.

The energy firm had initially believed that the demolition was not linked to the power outage. They have since admitted that it was indeed the direct cause. They also said their engineers were alerted to a fault in the Sutton Courtenay area four minutes after the detonation.

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