Utility Week

4 | 15TH - 21ST MARCH 2019 | UTILITY WEEK Seven days... Oil slides on weak China and US data Oil tumbled more than 3 per cent last week as a round of disappoint- ing economic data from China and the US fuelled concerns about the outlook for the global economy and demand for crude this year. Brent, the international bench- mark, was down 2.8 per cent at $64.34 a barrel in late morning trading, a•er briefly touching a three-week low of $64.02 a barrel. Financial Times, 8 March Norway's wealth fund to divest oil and gas The world's largest sovereign wealth fund, which manages $1 trillion (£770 billion) of Norway's assets, is to dump investments in firms that explore for oil and gas, but will still hold stakes in firms such as BP and Shell that have renewable energy divisions. The Government Pension Fund Global (GPFG), whose assets exceed those of rival sovereign wealth funds such as China's, said it would phase out oil exploration from its "investment universe". The strategy shi•, on the back of advice from the country's central Norges Bank, will affect 1.2 per cent of its equity holdings, worth about 66 billion Norwegian krone (£5.7 billion). The Guardian, 8 March UK weather: warnings over Storm Gareth Parts of Britain woke up to snow on Sunday as gales of up to 65mph battered the country. Weather warnings for snow and ice were in place across western Scotland and northern Ireland until 11am, while the wintry weather caused disrup- tion across parts of the Midlands. Meanwhile, high winds caused problems on roads and train lines in southern parts of the UK. Tem- peratures are not likely to get much above 11C, but with the wind chill this could feel more like 6 to 8C. The Telegraph, 10 March National media Avro Energy given last chance to become DCC compliant S mall supplier Avro Energy could be banned from tak- ing on new customers if it has not become a Data Commu- nications Company (DCC) user by the end of May. Ofgem said it would issue the supplier with a "final order" for being in breach of the require- ment to become a DCC user. All suppliers were required to become DCC users by 25 November 2017 to help drive the installation of next- generation SMETS2 meters. Avro failed to become a user by the deadline and is still not a user, Ofgem confirmed last week. The requirement forms part of the obligation on suppliers to "take all reasonable steps" to roll out smart meters to their domestic and small business customers by the end of 2020. Avro Energy has submitted a plan to become fully compliant by 25 July 2019, and to "avoid the risk of harm to consumers", Ofgem has proposed a final order to make sure Avro follows that plan. The first milestone in the compliance process must be met in May. Currently, customers with a DCC-connected smart meter who switch to Avro lose the function- ality of their smart meter, and existing customers with smart meters will lose smart function- ality over time. "This can cause consumer detriment and could undermine consumer confidence in the smart meter programme and the switching process," Ofgem said. If Avro fails to meet its May deadline, it will be banned from taking on new customers until it becomes a member of the DCC. Ofgem will consult on the final order for 21 days before issuing it. The regulator said the pro- posed customer ban was "timed to coincide with the initial phase of enrolment" of first-generation SMETS1 smart meters to the DCC communications network. Avro Energy has been contacted for comment. KP "It's really important that we make the footprints that women can follow in the future" Liv Garfield, chief executive of Severn Trent, marking International Women's Day on 8 March. STORY BY NUMBERS Senior citizens ration energy More than a fifth of over-65s "rationed" energy this winter due to financial pressure, research from Compare the Market suggests. 48% of that age group are worried that the cold weather in winter will lead to higher than usual energy bills. 12% said they do not feel they can afford an increase to their energy bills. 16% said they worry about being able to pay their bills from their pension or income alone. 8% said their health suffers because they limit the amount of heating they use. 38% said they would have to dip into their savings or pay on their credit card if their bills rose disproportionately.

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