Utility Week - authoritative, impartial and essential reading for senior people within utilities, regulators and government
Issue link: https://fhpublishing.uberflip.com/i/818772
4 | UTILITY WEEK | 5TH - 11TH MAY 2017 | UTILITY WEEK Thames Water completes Didcot sewer Work to build one of the largest sewers in the Thames Valley was completed last week. The multi- million-pound project was one of the largest of its kind in the area and part-funded by SSE Water. 6,000 New homes at Great Western Park and Valley Park, which the sewer will support. 1,200m Amount of pipe laid by specialist tun- nelling machinery. 1,000 Homes to enter the network, after the new sewer freed up existing capacity. 86 Number of major projects completed to date by Thames Water. 196 Major projects still in progress. STORY BY NUMBERS Seven days... National media Aggreko backs down over executive pay Aggreko withdrew a new set of proposals on executive pay shortly before its annual meeting yesterday in the face of opposition from shareholders to a new shares plan for bosses. Shareholders were expecting to exercise their binding vote on an updated remuneration policy as well as a separate resolution proposing a restricted share award plan for directors. The temporary power supplier had planned to change its pay policy a year early on the ground that it "had ceased to be aligned with the strategy of the business". The Times, 28 April Rough closure causes supply concerns The government is resisting calls to intervene and protect the stability of Britain's gas supply, despite warn- ings that the country's main gas storage site is likely to close. Industrial groups are lobbying the business department to support new gas storage facilities, amid fears that the demise of Centrica's Rough facility in the North Sea will expose them to damaging winter price rises. The Times, 1 May Vattenfall takes first foray into UK supply A state-owned Swedish company has become the latest European firm to enter the UK's lucrative energy market, as Britain's appeal to continental power suppliers shows no sign of abating aer the Brexit vote. Vattenfall, which is 100 per cent controlled by the Swedish govern- ment, is taking its first foray into UK energy supply as it joins a competi- tive field of European players includ- ing France's EDF, German-owned Eon and Npower, and Spanish- backed Scottish Power. Guardian, 1 May National Grid Gas Distribution rebranded as Cadent N ational Grid Gas Distribu- tion is to be renamed as Cadent from 2 May following the sale of a majority stake in the business to an inter- national consortium including Macquarie. Chris Train will stay on as the chief executive of the rebranded company, which was recently separated from the rest of National Grid. The firm owns and operates four gas networks in north Lon- don, the East and North West of England and the West Midlands. They together serve roughly half of all connected households in the UK. Train told Utility Week the new identity, which has been in the works since September, took inspiration from the "cadence and movement and flow of energy". The aim, he said, was to find a name that was easy to say, makes a "statement", and marks a clear change from the previous branding. The company has given itself a year to complete the rebrand- ing process, with most of the work due to take place over the summer. Train said the organisation would seek to retain the strong community links it has built up through a "200-year legacy" delivering gas to customers in Britain. "That sense of commitment and delivering against our promises is absolutely key to us in terms of how we look at ourselves and what we want to bring from the National Grid organisation." At the same time, the busi- ness will be more "courageous" and "curious" when it comes to innovation. TG "We should return to evidence-based policy… get continuity and stability back in energy policy – and rebuild confidence in investors." Tony Cocker, chief executive, Eon UK (see interview, p6)