Government dishes out £1bn to existing power plants to 'keep the lights on'

Jessica Shankleman
clock

Demand Side Response loses out, as first capacity market auction pays £900m to old gas and coal plants to stay online

Old coal and gas power plants will be paid more than £900m to stay online over the next decade in a move designed to provide sufficient backup to intermittent renewables, such as wind and solar power,...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech development
  • Tap into our extensive archive of exclusive articles, news, analysis and guide
  • Access to our new BusinessGreen intelligence service, providing you with
  • > Exclusive in-depth case studies
  • > Policy briefings, white papers and reports on market trends that are shaping the direction of the net zero transition
  • Our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Online and interactive meetings with BusinessGreen’s editors to discuss the crucial stories and trends from the past month

Choose from 3 paid membership levels or start a 7-day no strings trial.

Join nowTry 7 day trial

 

Already a BusinessGreen member?

Login

More on Energy

TagEnergy and Harmony Energy power up 49MW Jamesfield battery storage facility

TagEnergy and Harmony Energy power up 49MW Jamesfield battery storage facility

Partners confirm major new Scottish enegry storage project is now online

clock 18 March 2024 • 2 min read
'Slower than expected': National Audit Office raises alarm over heat pump rollout

'Slower than expected': National Audit Office raises alarm over heat pump rollout

Report warns lower than expected heat pump uptake means UK is off track to meet target of 600,000 installations a year

clock 18 March 2024 • 7 min read
Net Zero Teesside: Around £4bn-worth of carbon capture and storage contracts awarded

Net Zero Teesside: Around £4bn-worth of carbon capture and storage contracts awarded

Net Zero Teesside Power and Northern Endurance Partnership announce huge wave of new construction contracts

Stuart Stone
clock 15 March 2024 • 4 min read