Energy News 24/03/2017
Check out our weekly round up of the stories that have been making the headlines in the energy world over the ...Read More
The construction of world’s biggest electricity link between UK and Norway has been agreed. What will be the impact for UK small to medium sized businesses?
Contracts totalling €1.5 billion (around £1.05 billion) have been awarded to build the NSN link, a 740 km undersea cable that will allow power to be shared between Norway and the UK, the UK National Grid reported. The link, which will be the world’s largest, is expected to be in operation by 2021 and will run from Blyth in Northumberland to Kvilldal in Rogaland in Norway.
The NSN Link should contribute to increased production and use of renewable energy on both sides. One of the major challenges with renewable energy is the mismatch between production and demand.
While storage is possible – such as through pumped hydropower – the expense involved means that this type of infrastructure is still lacking. Better connectivity between Europe is hoped to allow excess power to be passed to markets with current demand, reducing the need for costly storage. The capacity of the NSN Link is significant at 1,400MW so will be an important step towards a more integrated European power market.
The project, which will establish a first direct connection between the two countries’ energy systems, is a joint venture between National Grid and Statnett SF, the Norwegian transmission system operator.
Alan Foster, National Grid’s director of European Business Development, called the link “a huge programme of work”.
“[T]he benefits to both UK and Norway are also huge and when completed the link will deliver low carbon electricity for the UK and also add to security of supply for Norwegian consumers,” he added.
Håkon Borgen, Executive Vice President of Statnett said the link “is an important part of Europe’s future electricity system”.
For the UK’s business energy users, the development can only help companies cut electricity bills in the medium to long term. Indeed, longer term plans include using volcanic energy from Iceland to supply the UK market. But improvements from these projects could take a decade or more to be felt.
For immediate savings, SME business electricity compare and switch expert SwitchMyBusiness.com can offer a comprehensive comparison of the market and switch to a new supplier in just 20 minutes. Fill in the form on the top right of this page or give us a call on 0330 0100 251 to find out why we are the top rated business energy switch site.
Helpful, friendly and we saved lots of money!
"Jessica Purnell was helpful and friendly, she made the whole process easy and simple AND we saved lots of money thanks Jess"This review was posted by Melanie Baker on the 23rd of March 2017
Quick & Easy
"Kabibi was very helpful and the whole process was very efficient. The one small reservation I had was that I was phoned up by Kabibi almost immediately having received my online quote - which wasn't enough time for me to finish reading the quotes! Fortunately she was able to assist me in a greater savings on both Gas & Electricity, and so as long as the switchover is seamless I will remain very happy with the service."This review was posted by Amanda Brown on the 21st of March 2017
"I am very happy with Aaron's service. He has helped me save over £1000 a year on my businesses energy costs."This review was posted by R Thomas on the 21st of March 2017
So helpful and quick
"Prompt advice and help from Ashley. I hadn't realised changing energy suppliers could be so easy and quick. Thanks so much. Will definitely recommend!"This review was posted by charlotte on the 21st of March 2017
Easy and stress free
"I hate this time but f year when it's time to renew my electricity. I decided to use a comparison site this time round and never looked back. My advisor (Aaron Gallagher) was polite and knowledgable and efficiently changed my business."This review was posted by Kevin on the 21st of March 2017