Holliday Energy Law Group’s Post

Exciting news this morning - DESNZ has (finally) confirmed its proceeding with a cap and floor support scheme for LDES in the UK. Limited details to date, but Ofgem to design the scheme and notes that the floor will be set at a level to just service debt (i.e. no return on equity). A few quick fire thoughts: - Great to see the announcement - I've personally spoken to at least half a dozen parties and assets that were holding off until they had some sort of confidence that the scheme would materialise - I don't envy Ofgem the job of designing the scheme and applying it for each individual asset - interconnector cap and floors have proven controversial enough and they are (relatively) homogenous assets - try designing a scheme that is fair for technologies at different levels of maturity, fundamentally different capex's and efficiencies, and which encourages investment but protects consumers, particularly when... - The level of floor (and cap) is going to be critical - these are not cheap assets, in many cases unproven technologies, and often 40yr+ lifespans. Setting a cap to only service debt and no equity return at all may not be enough to drag in investment, but despite all this... - This is a great opportunity for the sector and I really hope Ofgem goes into this with an open mind - the press release name checks pumped hydro, compressed air, and redox flow - but there are a lot of potential opportunities beyond that, or using those technologies in novel ways https://lnkd.in/eg9iUAwg

FirstPort has secured a share of £3.5m in Government funding to improve heat network efficiency. The funding, which is part of the Heat Network Efficiency Scheme (HNES) delivered by Gemserv, a Talan Company, will be used to identify where heat networks can be improved in order to reduce energy costs for hundreds of residents. Read the full story here 👉 https://lnkd.in/eunC8tGy #propertymanagement #firstportuk #propertymanager 

Top stories today 💷 Ofgem to claw back more than £100m from DNOs https://buff.ly/3RrWhfg Ofgem has outlined plans to claw back more than £100 million in revenues from electricity distribution networks as part of the close down process for the RIIO ED1 price controls. The regulator said it is minded to reduce their revenues by £84.5 million and £36.6 million respectively through re-openers for load-related expenditure and high value projects but increase them by £19 million through a re-opener for street works. 🧑⚖️ Labour promises ‘much tougher’ regulation of energy market https://buff.ly/3XlLZRp The Labour Party has pledged to introduce “much tougher” regulation of the energy market, including automatic customer compensation for service failures if it wins next month’s general election. The party’s election manifesto says Labour will “ensure a much tougher system of regulation that puts consumers first and attracts the investment needed to cut bills”. 💧 Compensation claim against six water companies rises to £1.5bn https://buff.ly/4c1olhU Lawyers are seeking as much as £1.5 billion in compensation payouts from water companies to millions of customers. A class action suit filed against six water companies will be heard by the Competition Appeal Tribunal in September. Claims have been lodged against Anglian Water Services, NWG (Northumbrian Water Group), Severn Trent, Thames Water, United Utilities and Yorkshire Water on behalf of 11 million customers for alleged under-reporting of pollution incidents.

Gas Plant Valuation Debate is Over: Rays/Hines Want Taxpayer-Owned Land for Hundreds of Millions Below its True Value. We Need a New Appraisal. //https://lnkd.in/eWY2eEwh

To the attention of investors! To participate in auctions for ancillary services for a period of up to 5 years, it will be necessary to conclude a special contract. NPC Ukrenergo adheres to the principles of transparency in its work in the electricity market.Therefore, we invite all interested parties to review the draft of this contract and submit the proposals in the form of a comparative table. The proposals are accepted until 12:00 on July 16, 2024 at the email address dimp.nec@ua.energy. The final version of the contract will be formed based on consideration of the sent proposals. You can find the draft of the specified contract by following the link in the first comment. Please take note that in June 2024, the NEURC allowed Ukrenergo to purchase ancillary services for a period of up to 5 years. This will help potential investors to find financing for the construction of decentralized generation.

US$15B KEYSTONE CLAIM THROWN OUT TC Energy’s US$15B Keystone XL Claim Thrown Out by Trade Tribunal https://hubs.la/Q02GXlMV0 A free trade arbitration tribunal has tossed out TC Energy Corp.’s claim that it is owed US$15 billion in damages as a result of U.S. President Joe Biden’s cancellation of the Keystone XL pipeline permit. #tcenergy #keystonexl #claim #arbitration #energyindustry #oilandgaindustry

The latest factsheet for the VT Gravis Clean Energy Income strategy for the period to the end of July has been published. Read the full factsheet below or here: https://lnkd.in/eww74JVN (Professional investors only. Capital at risk. Past performance is not a guide to future performance.) #CleanEnergy

💬 “I’ve found Callum and the rest of the BEC team to be committed, tenacious and knowledgeable about the energy broking sector and its practices.” 💬 See how much you could be owed in three easy steps: https://ow.ly/VK2F50Rlkcb #misselling #energybrokers #businessenergy #energylitigation

The latest report from NACFE presents a detailed examination of natural gas as a fuel option, drawing comparisons with other fuels and powertrains. The report goes beyond surface-level analysis and delves into the regulatory landscape, shedding light on the impact of regulations on the industry. Additionally, it offers a comprehensive economic breakdown, providing fleet operators with valuable insights on the financial implications of adopting natural gas. Read more https://lnkd.in/eECavgfk

⚖️ Experienced, transparent and we make it easy to make your claim ⚖️ We have a simple process which allows us to check whether you have a claim – we do all the hard work for you! See how much you could be owed in three easy steps: https://ow.ly/SRIa50S5Bqa #misselling #energybrokers #businessenergy #energylitigation