Utility Week

Utility Week 25th October

Utility Week - authoritative, impartial and essential reading for senior people within utilities, regulators and government

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Page 3 of 31

Seven days... National media Green jobs promise goes up in smoke The Green Deal, the government's flagship home energy-saving scheme, which was meant to create up to 60,000 jobs by 2015, has instead caused up to 7,000 redundancies, with more likely to follow. The Sunday Times Welby slams energy firms over price hikes The archbishop of Canterbury has waded into the row over energy prices, warning that the latest wave of hikes looks "inexplicable". Justin Welby insisted the Big Six companies had an obligation to behave morally rather than just maximising profit. The Daily Telegraph Whistleblower reveals SSE's 'white lies and brainwashing' Price-hiking energy giant SSE's shocking behind-the-scenes attitude towards customers has been uncovered by a whistleblower who worked at one of its call centres. The ex-employee claims the firm will "do whatever it takes" to maximise its gigantic profits. The Sunday Mirror $12.5 million The sum GDF Suez has paid for a 25% share in Dart Energy's shale gas exploration licenses 4 | 25th - 31st October 2013 | UTILITY WEEK story by NUMBERS Firms generate on site Some of the largest companies in the UK are investing in renewables and installing on-site generation technology in an attempt to protect themselves in the event of winter blackouts, according to respondents to a Major Energy Users' Council survey. 60% of 129 companies surveyed were initiating 'behavioural change programmes' 50% were investing in renewable energy sources 43% were installing onsite generation Deal struck for nuclear plant at Hinkley Point C The long-awaited deal on Hinkley Point C was struck this week with the backing of Chinese investors. The government and EDF Energy have agreed an inflationlinked "strike price" of £92.50/ MWh for power generated at the planned new nuclear plant for 35 years. This will be reduced to £89.50/MWh if everything is in place for EDF to make a final investment decision on Sizewell C by the time it is commissioned, due in 2023. EDF offered the discount on the basis it could share first-of-a-kind costs of the EPR technology across the two sites. The price tag for the 3,260MW power station has risen from £14 billion to £16 billion. The gvernment emphasised that UK companies could get up to 57 per cent of the work, creating about 25,000 jobs during construction. The deal includes arrangements to share gains with customers if investors benefit significantly from refinancing, equity sales or lower construction costs. It also protects investors against some political risks. They will be compensated if the government shuts down the plant for reasons other than those that have been preapproved, curtails generation or withdraws insurance cover. China General Nuclear Power Group and China National Nuclear Corporation are between them taking a 30-40 per cent stake in the project, and French developer Areva takes 10 per cent. The confirmation of Chinese investment came as chancellor George Osborne visited China last week. The two governments signed a civil nuclear cooperation deal that could lead to Chinese firms taking majority stakes in future nuclear plants. (See analysis, p14). MD "Ofwat hasn't really tackled this issue of sustainable financing" 0 Tony Ballance, director of strategy and regulation at Severn Trent Water (see p19 for story) The number of successful applicants for the post of chief executive of Northern Ireland Water

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