Utility Week

UTILITY WEEK | 28TH JUNE - 4TH JULY 2019 | 15 This week £100m initiative for offshore wind firms Programme will aim to provide 'practical help' to UK companies in the offshore wind supply chain The Offshore Wind Industry Council (OWIC) has launched a £100 million programme to help British companies develop their services and export them around the world. According to the OWIC, the Offshore Wind Growth Partner- ship (OWGP) programme will provide "practical help" and support more than 650 firms to help them access the domestic offshore wind market, as well as creating new export opportunities. The initiative is part of the recent sector deal between industry and government, which will see at least 30GW of offshore wind installed by 2030. The deal will also see UK content in new offshore wind farms increase from 48 per cent currently to 60 per cent by 2030. The OWGP will be delivered by the Offshore Renew- able Energy Catapult, which will provide support to supply chain companies. "The offshore wind industry is offering multi-million pound opportunities to hundreds of innovative compa- nies throughout the UK in the years ahead – including new entrants to the market as well as firms already working in this area," said OWIC chair and Orsted UK country manager for offshore, Benj Sykes. "The OWGP will provide practical help for UK compa- nies so they can compete successfully for contracts in this thriving global market. The UK's global pre-eminence in offshore wind means we are uniquely placed to sell our innovative products and services worldwide." JH ENERGY Failed suppliers 'cost customers £172m' Energy supplier failures since January 2018 could see customers pick up a bill for £172 million, according to research by Citizens Advice. It said customers would "pay the price" for the collapse of 11 energy companies because industry bills had been lež unpaid. The consumer advocate also claimed that thousands of people who owed money to the failed companies faced "aggres- sive" debt collection practices and had been lež without consumer protections. When suppliers fail, Ofgem's supplier of last resort process appoints a new supplier to ensure a continuation of supply, while the old supplier is taken over by administrators. However, administrators are not bound by the same rules as suppliers licensed by Ofgem, which means customers can face aggressive debt collection and see the "amounts they are being chased for go up overnight", Citizens Advice claimed. ELECTRICITY Good Energy slams solar VAT proposal Good Energy chief executive Juliet Davenport has slammed government proposals to impose standard rates of VAT on domestic solar and battery storage installations where the cost of the materials exceeds 60 per cent of the total cost of the installation. Currently, a reduced rate of 5 per cent applies. The government's move is in response to a European court ruling that energy-saving materi- als should not receive favourable VAT rates. By contrast, supplies of domestic coal for heating can continue to enjoy a reduced rate. Calling for the legislation to be rescinded, Davenport said: "The proposed solar tax hike is possibly the worst way to respond to a climate emergency." WATER 3km of Tideway tunnel complete The first 3km of London's Tideway "super sewer" are now complete and the project is on track to be delivered by 2024, according to the company. In its annual report, Tideway also revealed details of its river transport plan, which will reduce the project's carbon footprint and relieve pressure on the road network. It is taking 200 lorry journeys off the road each day by using the river to transport material. More than one million tonnes have been transported so far. Export hopes for offshore wind Finance & Investment Stock watch 140 120 100 80 CENTRICA SHARE PRICE, FIVE DAYS Feb 2019 Apr 2019 Jun 2019 CENTRICA SHARE PRICE, SIX MONTHS Centrica's share price dropped more than 3 per cent last Thursday to 88p aer the company revealed plans to cut 700 jobs in the UK due to "growing challenges". The British Gas owner also announced the acquisition of US company Smart Watt for £29 million. The latest fall means the its share price has almost halved since a year ago, when it was trading at around 160p. Five years ago its share price was above 300p. 94 92 60 88 86 20 Jun 21Jun 24 Jun 25 Jun pence pence

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