UK Energy Regulator Hits SSE Generation With Hefty Fine | OilPrice.com

Ofgem has imposed a hefty £9.78m penalty on SSE Generation for securing excessive payments from the UK’s electricity system operator, which was in breach of its licence and raised costs for customers.

This is when there is either shortfalls or excesses in power, requiring ESO to pay generators to turn off or power on generators to maintain balanced supplies.In October 2021, Ofgem opened an investigation into SSE’s compliance with the TCLC in relation to its Foyers pumped storage power station, which is located in Northern Scotland and regularly operates in transmission constraint periods.

This change was made to bring Foyers in line with what it believed was the market practice of other pumped storage operators, and to increase profit. However, the regulator believed it should have been clear to SSE’s senior management that its revised approach carried a significant risk of breaching the TCLC.

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Furious customer wins battle with energy giant as watchdog rules on botched bill“I tried everything but was frustrated at every turn, so I decided to take a stand and go to the regulators that control these firms and report them.”
Source: Glasgow_Times - 🏆 76. / 59 Read more »

UK Energy Minister: We Will Produce 100% Of North Sea Oil And Gas | OilPrice.comUK Energy Minister Grant Shapps says the British government intends to extract one-hundred percent of its North Sea oil and gas reserves and still achieve net-zero carbon emissions by 2050
Source: OilandEnergy - 🏆 34. / 68 Read more »