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Energy efficiency is not just low-hanging fruit; it is fruit on the ground.Stephen Chu, US Secretary of Energy
Ofgem propose cutting funding in a bid to save customers money
Gas and electricity have remained fairly stable this week, which is largely due to the UK gas system flipping from undersupply on Friday to 19mcm oversupplied on Monday. The main reason for the oversupply is an increase in Langeled flows and UKCS production. Meanwhile, the Hartlepool 2 nuclear reactor outage has been extended, with the reactor set to be back online on 27 October. Also, Ofgem has proposed cutting funding for the Hinckley Point transmission link by up to £80m, in a bid to save customers money. If agreed it would mean a reduction in funding from £717m to £637m. Ofgem also revealed that it has rejected an application from National Grid for an additional £40m for “risk funding”, although further funding could be available for flooding or extremities in the weather.