Utility Week

UTILITY Week 30th October 2015

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

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Finance & Investment Stock watch 190 180 170 160 150 140 130 120 INFINIS ENERGY SHARE PRICE, 26 SEPTEMBER - 26 OCTOBER 280 260 240 220 200 180 160 140 120 INFINIS ENERGY SHARE PRICE, 18 NOVEMBER 2013 - 26 OCTOBER 2015 Renewable energy firm Infinis is set to return to private hands through a £555 million buyback as shares in the company plummet following government cuts to renewables support. Shares in Infinis have fallen from 196 pence in early July to just over 125 pence at the start of the week. The share price was more than double this rate when it first floated in November 2011 at 270 pence. Shares have since rocketed to 183 pence on news of the buyback. This week YW to spend £30m eradicating stench Programme of measures set out to stop 'unacceptable' odours at Saltend treatment works Yorkshire Water has come up with a £30 million action plan to eliminate "unacceptable" odours from its Saltend wastewater treatment works. Following an extensive review, the company has come up with a programme of 50 improvements to ameliorate how the wastewater that comes into the site is treated. Yorkshire Water is also looking to work with indus- trial customers in the area to trial ways of controlling the quality and quantity of their wastewater. The company's programme director for East Riding and Hull Nick Topham said: "We understand that the odours from our treatment works last summer were unacceptable. In July we committed to investing in the site to prevent it happening again. Today we are announcing a comprehensive investment plan that will deliver on that commitment. "The improvements to the way we treat wastewater on the site would be sufficient to ensure we can treat the loads coming into site without a repeat of the odour issues, but we want to go further to ensure we have additional protection for the local community." Yorkshire is also setting up a £75,000 community fund to provide grants to local organisations for projects in a range of areas including environmental improve- ments, education and work with vulnerable people. The fund will be administered by a committee made up of local community representatives who will decide how money is allocated. LV ENERGY UK 'faces investment crunch in five years' The UK will face rising global competition for energy invest- ment aer 2020 despite the ra of government measures designed to provide investor confidence, according to Scot- tish Power chief executive Neil Clitheroe. Scottish Power's parent company, Iberdrola, has directed 40 per cent of its investment towards the UK through a pipe- line of projects including wind power and networks, which will continue to the end of the decade, Clitheroe said. However, he warned that questions remained over UK investment over the 2020-25 period. "We take decisions at a country level," Clitheroe told delegates of a London confer- ence on Wednesday (21 October). "We go where the returns are strong, the demand is strong and the risks are lower." ENERGY SSE retains FTSE100 Fair Tax Mark Big six supplier SSE has been awarded the Fair Tax Mark for its transparency with corporation tax for the second year in a row, remaining the only FTSE 100 company to receive one. The level of transparency required by a company to receive the Fair Tax mark goes beyond UK company law requirements. In 2014/15, SSE paid more than £506 million in taxes in the UK and Ireland. SSE's chief executive Alistair Phillips-Davies said he was "surprised and disappointed" that other FTSE100 companies had not strived to receive the independent accreditation. ELECTRICITY Grid billed £1.5m for interconnector National Grid will have to foot the bill for a £1.5 million over- spend on the England-Scotland interconnector project, Ofgem has said. The company will be able to recover £106 million revenue from suppliers during the post- construction period but the over- spend will not be financed via transmission charges, meaning National Grid will have to pay. The final calculation of the costs incurred on the project is £122.16 million, against £120.75 million forecast. Ofgem said it had reviewed the costs and did not con- sider that the "relatively small overspend" reflected a signifi- cant change in the value of the work delivered. This, it said, is because the boundary transfer capability of 2.8GW, which the project was designed to deliver, was delivered on time. Protest last summer against Saltend stink UTILITY WEEK | 30TH OCTOBER - 5TH NOVEMBER 2015 | 17 5 Oct 12 Oct 22 Oct 26 Oct 2014 2015 Photo: Hull Daily Mail Online

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