This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.theguardian.com/business/2022/nov/10/winter-power-cuts-in-uk-less-likely-says-national-grid-boss
The article has changed 6 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Winter power cuts in UK unlikely, says National Grid boss | |
| (31 minutes later) | |
| Enough supply to avoid worst-case scenario of rolling blackouts given milder weather and key electricity link to France back on line | Enough supply to avoid worst-case scenario of rolling blackouts given milder weather and key electricity link to France back on line |
| National Grid expects there to be “sufficient generation” to avoid rolling power cuts this winter, with Britain’s supplies boosted by the return of a crucial electricity link to France that was hit by fire. | National Grid expects there to be “sufficient generation” to avoid rolling power cuts this winter, with Britain’s supplies boosted by the return of a crucial electricity link to France that was hit by fire. |
| The power networks owner warned last month that Britain should be able to meet its energy needs this winter, but could experience rolling power cuts in a worst-case scenario if Russia cut off gas supplies into Europe. | The power networks owner warned last month that Britain should be able to meet its energy needs this winter, but could experience rolling power cuts in a worst-case scenario if Russia cut off gas supplies into Europe. |
| Chief executive John Pettigrew said that that outlook had not changed, and the mild weather so far this winter was a positive for the energy picture. “What we have seen is pretty mild weather, which has led the Europeans to probably put more gas into storage than they originally anticipated. My understanding is the storage in Europe now is pretty much full,” he said. | Chief executive John Pettigrew said that that outlook had not changed, and the mild weather so far this winter was a positive for the energy picture. “What we have seen is pretty mild weather, which has led the Europeans to probably put more gas into storage than they originally anticipated. My understanding is the storage in Europe now is pretty much full,” he said. |
| Sign up to Business Today | Sign up to Business Today |
| Get set for the working day – we'll point you to the all the business news and analysis you need every morning | Get set for the working day – we'll point you to the all the business news and analysis you need every morning |
| The Sellindge converter station in Kent was forced last year to shutdown a high-voltage cable that brings electricity from France after a huge fire. | The Sellindge converter station in Kent was forced last year to shutdown a high-voltage cable that brings electricity from France after a huge fire. |
| Half of its 2,000 gigawatt (GW) capacity was knocked out by the fire. Pettigrew said 500 megawatts will be restored this month and the remaining 500MW in December. “So by the time we get to the peak of the winter, the full 2GW will be available from the French interconnector which I’m delighted about,” he said. | Half of its 2,000 gigawatt (GW) capacity was knocked out by the fire. Pettigrew said 500 megawatts will be restored this month and the remaining 500MW in December. “So by the time we get to the peak of the winter, the full 2GW will be available from the French interconnector which I’m delighted about,” he said. |
| National Grid reported a 50% rise in operating profits to £2.24bn in the six months to 30 September, buoyed by extra revenues from its acquisition of network operator Western Power Distribution. Its earnings were also boosted by a “strong performance” in its New York and New England business plus the insurance proceeds from the Sellindge fire. | National Grid reported a 50% rise in operating profits to £2.24bn in the six months to 30 September, buoyed by extra revenues from its acquisition of network operator Western Power Distribution. Its earnings were also boosted by a “strong performance” in its New York and New England business plus the insurance proceeds from the Sellindge fire. |
| Pettigrew stressed that the company does not produce or sell energy and is not experiencing the windfall profits of some oil and gas producers. Rishi Sunak and chancellor Jeremy Hunt are reportedly considering extending the windfall tax on those firms and curbing the revenues of electricity generators. | Pettigrew stressed that the company does not produce or sell energy and is not experiencing the windfall profits of some oil and gas producers. Rishi Sunak and chancellor Jeremy Hunt are reportedly considering extending the windfall tax on those firms and curbing the revenues of electricity generators. |
| Pettigrew said he understood Sunak and Hunt’s focus on tax and spending “to balance the UK plc books” but said “what we need is a stable policy regime, a stable regulatory regime and a stable financial regime”. | Pettigrew said he understood Sunak and Hunt’s focus on tax and spending “to balance the UK plc books” but said “what we need is a stable policy regime, a stable regulatory regime and a stable financial regime”. |
| National Grid increased its investment target to £40bn by 2026, up from a previous goal of £30bn to £35bn. The firm said £29bn of this would be in “the decarbonisation of energy networks”. | National Grid increased its investment target to £40bn by 2026, up from a previous goal of £30bn to £35bn. The firm said £29bn of this would be in “the decarbonisation of energy networks”. |
| “Connecting renewables and decarbonisation is an absolute focus. That’s a huge investment programme, £1m an hour every single hour of every single day, 365 days a year,” he said. “Connecting clean energy at scale and pace will bring down energy bills for customers and increase energy security.” | “Connecting renewables and decarbonisation is an absolute focus. That’s a huge investment programme, £1m an hour every single hour of every single day, 365 days a year,” he said. “Connecting clean energy at scale and pace will bring down energy bills for customers and increase energy security.” |