Sep 11, 2014

DONG Energy Wings Energy Intelligence 2014 Award for Leadership in New Energy

Wind
Admin
2 min
Analysis group Energy Intelligence named Danish company DONG Energy the winner of its 2014 Award for Leadership in New Energy. EI cites DONG’s...

Analysis group Energy Intelligence named Danish company DONG Energy the winner of its 2014 Award for Leadership in New Energy. EI cites DONG’s pioneering development of offshore wind technology.

“Dong is a perfect example of a company leveraging its offshore oil and gas experience to develop a new sector, offshore wind power. It's a leader in that area and will play a central role in driving down costs," David Pike, Editor of EI New Energy—Energy Intelligence’s carbon and renewables information service—said. “On behalf of the selection committee and Energy Intelligence, I would like to offer our congratulations to Dong on this achievement.”

DONG Chief Executive Henrik Poulsen built the world’s first offshore wind farm in 1991 and has remained a leader in the field since then, completing the first large-scale offshore wind project in 2002. Now, DONG makes almost the same revenue from wind as it does from its oil and gas exploration arm.

DONG has serious incentives to drive renewable energy innovation, as Denmark as some of the most aggressive renewable energy targets in the world. The country hopes to convert to 100% renewable energy by 2050, and DONG Energy will be a major factor in achieving that target.

DONG has set a target of having a 6.5 GW capacity of offshore wind by 2020. To reach this large number—which is 3 times its current capacity—it’s focusing on other markets such as the U.K, Germany, and Denmark. The company is also looking to reduce energy costs from offshore wind to less than $130 per MWh after 2020.

This isn’t the first honor the company has received from EI. It was listed as number 6 in the company’ Top 100 Green Utilities for 2013. 

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Jul 26, 2021

Ofwat allows retailers to raise prices from April

Ofwat
Utilities
water
prices
Dominic Ellis
3 min
Ofwat confirms levels of bad debt costs across the business retail market are exceeding 2% of non-household revenue

Retailers can recover a portion of excess bad debt by temporarily increasing prices from April 2022, according to an Ofwat statement.

The regulator confirmed its view that levels of bad debt costs across the business retail market are exceeding 2% of non-household revenue, thereby allowing "a temporary increase" in the maximum prices. Adjustments to price caps will apply for a minimum of two years to reduce the step changes in price that customers might experience.

Measures introduced since March 2020 to contain the spread of Covid-19 could lead to retailers facing higher levels of customer bad debt. Retailers’ abilities to respond to this are expected to be constrained by Ofwat strengthening protections for non-household customers during Covid-19 and the presence of price caps.  

In April last year, Ofwat committed to provide additional regulatory protection if bad debt costs across the market exceeded 2% of non-household revenue. 

Georgina Mills, Business Retail Market Director at Ofwat said: “These decisions aim to protect the interests of non-household customers in the short and longer term, including from the risk of systemic Retailer failure as the business retail market continues to feel the impacts of COVID-19. By implementing market-wide adjustments to price caps, we aim to minimise any additional costs for customers in the shorter term by promoting efficiency and supporting competition.”  

There are also three areas where Ofwat has not reached definitive conclusions and is seeking further evidence and views from stakeholders:   

  1. Pooling excess bad debt costs – Ofwat proposes that the recovery of excess bad debt costs is pooled across all non-household customers, via a uniform uplift to price caps. 
  2. Keeping open the option of not pursuing a true up – For example if outturn bad debt costs are not materially higher than the 2% threshold. 
  3. Undertaking the true up – If a 'true up' is required, Ofwat has set out how it expects this to work in practice. 

Further consultation on the proposed adjustments to REC price caps can be expected by December.

Anita Dougall, CEO and Founding Partner at Sagacity, said Ofwat’s decision comes hot on the heels of Ofgem’s price cap rise in April.

"While it’s great that regulators are helping the industry deal with bad debt in the wake of the pandemic, raising prices only treats the symptoms. Instead, water companies should head upstream, using customer data to identify and rectify the causes of bad debt, stop it at source and help prevent it from occurring in the first place," she said.

"While recouping costs is a must, water companies shouldn’t just rely on the regulator. Data can help companies segment customers, identify and assist customers that are struggling financially, avoiding penalising the entire customer in tackling the cause of the issue."

United Utilities picks up pipeline award

A race-against-time plumbing job to connect four huge water pipes into the large Haweswater Aqueduct in Cumbria saw United Utilities awarded Utility Project of the Year by Pipeline Industries Guild.

The Hallbank project, near Kendal, was completed within a tight eight-day deadline, in a storm and during the second COVID lockdown last November – and with three hours to spare. Principal construction manager John Dawson said the project helped boost the resilience of water supplies across the North West.

“I think what made us stand out was the scale, the use of future technology and the fact that we were really just one team, working collaboratively for a common goal," he said.

Camus Energy secures $16m funding

Camus Energy, which provides advanced grid management technology, has secured $16 million in a Series A round, led by Park West Asset Management and joined by Congruent VenturesWave Capital and other investors, including an investor-owned utility. Camus will leverage the operating capital to expand its grid management software platform to meet growing demand from utilities across North America.

As local utilities look to save money and increase their use of clean energy by tapping into low-cost and low-carbon local resources, Camus' grid management platform provides connectivity between the utility's operations team, its grid-connected equipment and customer devices.

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