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WATT’s Our Take? Business Energy News June 2017

What’s been hitting the headlines lately in the business energy industry? We’d like to keep you updated with the latest news from various sources online.

Vattenfall throws down the gauntlet to ‘Big Six’ with new supplier acquisition – Clean Energy News

Despite the UK energy market being the most crowded in Europe, Vattenfall, the Swedish power group, have secured a deal to enter the market by purchasing iSupplyEnergy, a small gas and electricity supplier. Their plan is to challenge Britain’s “big six” using their high quality customer service, digital innovation and green energy supplies to compete.

Ofgem proposes £206.8m spending cut for DNO’s – Energy Live News

According to Ofgem, a proposed reduction in allowances across all distribution network operators (DNOs), totalling £206.8 million, would result in a reduction in network charges on consumer energy bills.

Tory Pledge to cap energy bills missing from Queen’s speech – The Guardian

The absent energy price cap from the Queen’s speech, suggests Theresa May has bowed to pressure from the big energy companies. The promise that was at the forefront of the Tory’s election campaign could have saved 17 million households on the worst-value energy tariffs up to £100 on utility bills. Although it appears to have been dropped, the government have vowed to tackle unfair practices in the energy market to help reduce utility bills.

Drax weighs up coal-to-gas switch – Utility Week

Drax is considering alternative purposes for its remaining coal-fired power units, as it is still unclear whether funding for the biomass conversion of the three units will be made available by the government

National Grid’s £480m spending deferral to cut energy bills – Energy Live News

Due to a voluntary deferral of £480million from National Grid, Ofgem believe network charges on energy bills will be reduced by approximately £100 million between 2019 and 2021.

SSE boss gets 72% pay rise weeks after arguing against cap on bills – The Guardian

Just weeks after arguing against the energy price cap which could have lead to consumers saving £100 per year, Alistair Philips-Davies, the chief executive for SSE has been given a 72% pay rise, meaning he will be paid £2.92million in 2017.

EDF Energy boss to step down after Hinkley win – Energy Live News

After helping to secure Hinkley Point C – Britain’s first nuclear power station in a generation – the head of EDF Energy, Vincent de Rivaz, is to step down from his role later this year. He will be replaced by Simone Rossi on 1st November 2017.

Surprise hung parliament result raises concerns – Clean Energy News

General election ‘has increased energy investment risks’ – Energy Live News

The political uncertainty, which arose as a result of last week’s shock election results, has lead to concerns within the energy industry, regarding delays to investment and the eagerly anticipated Clean Growth Plan.

How on-site production can reduce business energy costs – The Telegraph

The future’s bright, the future’s cheaper? Renewable technologies are providing businesses with on-site energy generation solutions in order to slash their energy costs.

‘Spectacular’ drop in renewable energy costs leads to record global boost – The Guardian

2016 saw boost in renewable energy capacity installed worldwide, a 10% increase from 2015. However, despite the increase, and a reduction in cost, analysts warn that the ‘green transition is not happening fast enough.

UK energy businesses ‘most concerned about Brexit’ – Energy Live News

Britain’s energy companies are increasingly concerned about what affect leaving the EU will have on energy costs, security of supply and sustainability.