The Energy Bulletin: Regulations round-up April 2017

energy regulations, government, ofgem, April 2017

Energy Research Funding for innovative business projects

Innovate UK (the UK’s innovation agency) has announced it will make a share of £13mn available to businesses for innovative projects that address the issues of cost, emissions and security of supply in the fifth round of Energy Catalyst funding.  The fund is available to support both the energy sector in the UK and in developing countries.

The competition which opened on 24 April is open to any UK business that wishes to take advantage of the opportunities that arise through facing the challenges in the energy sector.  There are three types of award available for projects that are at an early, mid or late development stage. Project costs can vary between £50k and £10mn depending on stage and can last between one and three years.  Businesses are able to attract up to 70% of their project costs.  To date Energy Catalyst funding has helped over 200 projects with a total value of £200mn over the previous four rounds.

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Clark promises Government action on energy price rises

Greg Clark, Business and Industrial Strategy Secretary, stated during his appearance before the Business, Energy and Industrial Strategy committee that the Government will take “muscular and strong” action against “damaging” energy price rises. Clark said that the timing of the planned “decisive” move would now require “reflection” in light of the calling of the general election.  Clark said that although the Government cannot directly affect prices they could alter a “deficiency” in the market, saying it is clearly not working for those on default tariffs.  He informed the committee that consumers who do not or could not shop around were being “milked” by energy companies.

 

General Election will not affect second CfD Auction

BEIS confirmed that the second £290mn CfD auction which opened on 3 April will be unaffected by the decision to call a snap election on 8 June. BEIS explain that as the auction is already under way and CfD statutory notices are now law there will be no change to the timings of the auction.  The application window, which opened on the 3 April, will remain open until 21 April and applicants will be notified of the outcome on 15 May.  Following House of Commons approval of the election the Government will shortly enter purdah, meaning no policy announcements or new initiatives will be made or introduced. Parliament is then expected to be dissolved on 3 May.

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