Aug 9, 2018

Eon's renewable energy earnings up 15%

Utilities
Green Energy
Power Generation
Olivia Minnock
2 min
European energy company Eon has reported adjusted earnings from its renewables segment, having made €236mn for the first half of...

European energy company Eon has reported adjusted earnings from its renewables segment, having made €236mn for the first half of this year. This marks a 15% increase from the €205mn figure reported in H1 2017.

The company has put the growth down to increased output from its newly commissioned wind farms. These have included a 228MW project in Texas and a 306MW site in Illinois.

See also:

Apple reaches goal of 100% renewable energy for global facilities

‘Shockingly’ low prices for Massachusetts energy thanks to US offshore wind

Read the latest issue of Energy Digital

In total, Eon has invested €528mn in its renewables business segment, up from €449mn last year. This means the segment makes up 31% of the Eon group’s total investment in H1 2018.

Overall, renewables sales grew 4% in the period, reaching €741mn as opposed to €710mn a year previous.

These figures follow a deal with RWE involving a complex share swap which will mean that, as of next year, RWE owns the renewable assets of Eon as well s its own subsidiary, innogy. This will impact the reporting of such figures by Eon.  

In total, however, the company’s net income was down 28%, at €2.9bn from over €4bn in H1 2017. Eon stated that its overall earnings had been reduced due to some projects having come to the end of subsidy support schemes.

 

 

Share article

May 13, 2021

All but two UK regions failing on school energy efficiency

schools
energyefficiency
Renewables
Dominic Ellis
2 min
Yorkshire & the Humber and the North East are the only UK regions where schools have collectively reduced how much they spend on energy per pupil

Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.

Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.

According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.

Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.

“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."

He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."

North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).

The Department for Education has issued 13 tips for reducing energy and water use in schools.

Share article