Energy firm SSE has issued a profit warning after it revealed the suspension of the Capacity Market is expected to result in a £60 million shortfall in this financial year.
The low carbon and renewables economy posted strong growth in 2017, but onshore wind and solar PV continued to be beset by a retraction of government support.
Innogy-owned UK energy supplier npower has announced it will lose as many as 900 jobs over the coming year as part of a major cost reduction programme.
Hitachi has confirmed it has suspended work on the Wylfa Newydd nuclear power plant, a move which risks “blowing a hole” in the UK’s decarbonisation strategy.
A trio of green energy firms have been granted temporary derogations from the energy price cap, allowing them to charge above the determined limit on standard variable tariffs (SVTs).
Bulb has reported significant growth in members and revenue, but also its financial loss, as the supplier backs its brand of “sustainable growth” to continue into 2019.
In the third of a series of predictions pieces running on Current± over the coming weeks, Vattenfall’s Danielle Lane and Current± editor Liam Stoker predict what may happen in the energy sector in 2019.
