Today news
About the same in other media
Energy firms fined after subsea cable delay pauses Scottish windfarms
Reading now: 467
Two energy companies will pay a record £158m fine after delays to a major subsea power cable bringing renewable energy from Scotland to England and Wales caused home energy bills to rise.
National Grid and Scottish Power agreed to pay the penalty after an investigation by the industry regulator found many of Scotland’s windfarms were paid to turn off on windy days because there was no way to transmit the clean electricity to areas of high energy demand in the south of the UK.
The £1.2bn power cable known as Western Link was expected to carry enough electricity to power 2m homes over 260 miles, mostly under water, from Scotland to England from late 2015, well ahead of its late 2017 deadline from the regulator.
But the project was dogged by
Read more on theguardian.comAbout this in other media
Octopus Energy raises long-term investment to value startup at $5bn theguardian.com /2 years ago
Activist investor Elliott attacks SSE over green energy plans theguardian.com /2 years ago
UK travel firms call for state help after Omicron hits turnover theguardian.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
