2014 August news archive


29 August

E.ON seeking investment for renewable energy projects

Green Energy - Turbines WindmillsE.ON has revealed that it's seeking investment to support its renewable energy projects. The German company and owner of big six energy supplier E.ON UK is currently managing $39.2 billion worth of debt, which has resulted in it reducing the amount it invests in renewables. Europe's renewable energy generation has grown significantly, and is said ...

28 August

SSE to spend £2.5m to silence noise from Highland sub-station

Electricity power lines at nightSSE is set to spend £2.5 million on silencing the noise created by its new sub-station in the Scottish Highlands. The Wester Balblair sub-station was constructed to feed the electricity generated by local renewable energy projects into the National Grid. However, local residents complained it created a constant buzzing noise - which they dubbed the ...

27 August

Al Gore's Generation Investment Management invests £8m in Ovo Energy

Electricity PylonFormer US vice president and environmental activist Al Gore has invested £8 million in Ovo Energy through his sustainable investment fund. Generation Investment Management, a fund established by Mr Gore back in 2004, was known to be in talks with the Bristol-based energy supplier late last year (2013). A deal was agreed in January, however, ...

26 August

nPower's chief exec blames Labour price freeze plans for high energy prices

House inside a lightbulbThe chief executive of big six energy supplier nPower has stated that it has not reduced its energy prices due to Labour's plans to implement a price freeze. Paul Massara made the claim in a letter to energy market regulator Ofgem. Labour leader, Ed Miliband, said almost a year ago that the party would implement ...

22 August

Extra Energy launches new domestic tariff priced below £1,000

Electrical dischargeExtra Energy has become the latest small energy supplier to launch a domestic energy tariff priced at under £1,000. Its ValuePlus Fixed Price September 2014 v1 tariff is reportedly set to cost even less than the tariffs offered by Ovo Energy and First Utility - at £990 a year. Commentators have said that the new ...

21 August

Fall in profits and increasing customer complaints for Npower

LightbulbNpower has reported a 38 per cent drop in profits for the first half of 2014. The big six energy company saw its profits, before tax and debt interest payments, drop to £109 million - from £176 million in the first half of last year. The rising cost of the government's energy efficiency scheme and ...

20 August

UK energy prices rising faster than in most countries in developed world, study finds

Electricity PylonA new study has found energy prices are rising at a faster rate in the UK than in the majority of developed nations. Conducted by the House of Commons Library and based on figures provided by the Department of Energy and Climate Change (DECC), it highlighted that domestic gas and electricity prices have risen by ...

19 August

Growth in customers for Good Energy despite mild winter

Green Energy PlugGreen energy supplier Good Energy has seen its customer base grow during the first half of 2014, helping it to overcome the fall in demand caused by warmer winter weather. It has suggested that increased marketing activities and improvements to its business logistics is likely to strengthen its position as a market leader in the ...

18 August

Warmer winter in the UK means E.ON profits are down

Yellow flameBig six energy supplier E.ON has seen profits fall by a third after a warmer start to the year resulted in lower demand for domestic gas and electricity. Its UK profits feel from £273 million to £188 million during the first six months of this year. The German-owned energy company, which supplied electricity and gas ...

13 August

Two UK power stations temporarily closed by EDF

Power stationEDF Energy has temporarily closed down two nuclear power stations in the UK. Both power stations are currently closed after a defect was found in one of the boilers at Heysham 1 in June of this year (2014). As a precautionary measure, all four reactors across Heysham 1 and Hartlepool have been shut down by ...

11 August

Criminal offence to fix energy prices under new proposals

LightbulbUnder new government proposals it could soon be a criminal offence, punishable with up to two years in prison, to fix wholesale gas and electricity prices. Current rules mean that individuals can only be investigated and fined for rigging energy prices, however, Energy Secretary, Ed Davey, has stated he wants this to be changed. Energy ...

07 August

Energy bills take priority in homes across Europe

House inside a lightbulbA recent study has found that homeowners are more likely to prioritise their energy bills over their rent or mortgage. Conducted by multinational retail company and B&Q owner, Kingfisher, the European Home Report 2014 features the responses of 17,000 households across nine European countries. Sixty-five per cent of the respondents stated that the rising costs ...

04 August

Centrica reveals British Gas profits down for 2014's first half

LightbulbBritish Gas' profits have fallen during the first half of this year its owner Centrica has announced. The big six energy supplier's operating profit from its residential supply arm fell to £265 million for the first half of this year. It attributed the fall to the considerable spells of warm weather the UK has experienced ...