Utility Week

4 | 29TH JUNE - 5TH JULY 2018 | UTILITY WEEK Seven days... Engie sells Thailand interest for €2.6bn French utility firm Engie has acceler- ated its deleveraging with the sale of its 69.1 per cent stake in Glow, an independent power producer based in Thailand. The deal is reportedly worth up to €2.6 billion. The sale to Thailand's Global Power Synergy "is in line with Engie's strategy aimed at reducing the group's carbon footprint", the French company said. The company is in the final year of a three-year plan that has seen it cut costs and reduce its presence in carbon-intensive industries and markets. Financial Times, 20 June Italy wants one million EVs on the road Italy's government is planning to put one million electric vehicles on the nation's roads as part of an initiative that could cost the state £7.5 billion. The scheme is part of a contract agreed last month by the country's coalition partners, the League and the Five Star Movement. Bloomberg, 25 June Orsted puts domestic supply unit up for sale Danish energy group Orsted is put- ting its domestic power distribution and retail energy business up for sale as it consolidates its shi into green energy. The company, previously known as Danish Oil and Natural Gas (Dong), abandoned fossil fuels in 2017 in favour of wind power and other renewable energy sources. The power distribution business serves around one million electricity customers in the Copenhagen area, North Zealand and parts of central Zealand. The residential customer business sells electricity to around 733,000 customers and gas to 91,000. Financial Times, 26 June STORY BY NUMBERS National media Government says no to Swansea tidal lagoon T he government will not back plans for Swansea's pioneering tidal lagoon power plant because of its cost. Business secretary Greg Clark announced this week that developer Tidal Lagoon Power's (TLP's) plans for a programme of six new plants off the Welsh coast failed to meet value-for- money criteria. Clark said the lagoon was a "novel" idea, but the costs were so high that it would be "irre- sponsible to enter into a contract with the provider". He told MPs offshore wind- farms could generate the same amount of electricity for a third of the estimated £1.3 billion cost of TLP's plant even at today's prices, which are expected to fall further. Clark also said the estimated cost of the six lagoons at £50 billion was two-and-a-half times the cost of EDF's new nuclear power station at Hinkley, which would generate a similar amount of electricity. To generate the same amount of off- shore wind would cost "at least" £31.5 billion less, he said. Independent advice submit- ted to the government estimated that innovation and capital cost reduction would only reduce the cost of subsequent lagoons by 5 per cent. Clark also said the energy produced by the tidal lagoons would be relatively unreliable, with a load factor of 19 per cent compared with around 50 per cent for offshore wind and 90 per cent for nuclear. The chairman of Tidal Lagoon Power, Keith Clarke, said the decision made a "mockery" of the government's New Indus- trial Strategy, and described its lack of engagement with the project as "highly disturbing". He decried the "abject fail- ure" of the government to imple- ment the recommendations of the Hendry review, which supported the project. Former Liberal Democrat energy and climate change secretary Ed Davey called the decision "a betrayal of Britain's energy and economic future" and said the government was talking "utter nonsense on the price of tidal power". DB Community engagement Research by Electricity North West has explored the public's understanding and interest in engag- ing with community and local energy. 70% of UK consumers want a leading role in the development of energy infra- structure. 55% are unsure of how to get involved. 63% of the public are interested in participating in a community energy group, if they could save money. 2% of consumers are already actively involved in a com- munity energy group. 59% of people would like to learn more about community and local energy online. "It's bonkers the government is subsidising the installation of dumb, unconnected charging points even today" Stephen Fitzpatrick, chief executive of Ovo Energy, calls for the energy industry to work together to develop smart charging standards.

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