Ofgem runs into resistance over energy bill plan | Business News

Ofgem has run into opposition from energy network companies after it told them to spend more of customers’ bills on green investment and less delivering returns to shareholders.

The regulator said its plans for the next five years would see £25bn allocated to maintain and operate the networks as well as supporting the growth of clean energy.

A further £10bn could also be made available for net-zero investment on a case-by-case basis for projects “that deliver decarbonisation at the lowest cost to consumers”.

‘Big moment’ for economy and net-zero

National Grid and SSE, two of the biggest operators in the sector, claimed that the plans jeopardised the transition to a net-zero carbon economy, though they were welcomed by Citizens Advice.

Under Ofgem’s price control system, the regulator assesses plans by network operators over the next five years and sets limits on the profits that they make.

The companies – separate

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Ineos could scrap plan to build new 4×4 vehicle in Wales | Business News

Ineos has suspended plans to build a new 4×4 vehicle in south Wales and may make the vehicle at a site in France instead.

The factory in Bridgend had been expected to create up to 500 jobs, providing a boost to automotive workers just as Ford closes its engine plant in the town with the loss of 1,700 roles.

But now Ineos Automotive – part of the business empire controlled by chemicals billionaire Sir Jim Ratcliffe – has revealed that it is in talks to buy the alternative Hambach site in Moselle which is being sold by Mercedes-Benz.

Ineos is controlled by billionaire Sir Jim Ratcliffe

The earlier decision to build the company’s new Grenadier model in Bridgend was hailed by Boris Johnson as “a vote of confidence in UK expertise” at the time it was announced last autumn.

It would have seen the vehicle assembled at the south

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Coronavirus: ‘Think, plan and book’: Cornwall re-opens for business but with a new normal | UK News

Tourism bosses in Cornwall say COVID-19 has already cost the sector more than £650m in lost revenue and are warning there will be no “speedy recovery” when the industry re-opens on Saturday.

Hotels and holiday parks can open their doors once again in England this weekend, but new guidelines and reduced capacity mean many businesses continue to be at risk of closure.

Malcolm Bell from Visit Cornwall says the remaining summer season will be about “damage limitation”.

“It’s great to be able to open after over 100 days – but the fact is we’ve lost £655m in business,” he says. “We won’t be all be to operate fully because of social distancing, so it’s great to open but the summer will be damage limitation, not a speedy recovery.”

He added: “A lot of businesses are just concentrating on re-opening. They’ll all be doing their cash flows every week now to

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Coronavirus: Hancock urged to back Swissport testing plan | Business News

The health secretary, Matt Hancock, is under mounting pressure to back an airport-based COVID-19 testing programme amid continued uncertainty over government plans to establish international “air bridges”.

Sky News has seen a letter to Mr Hancock from Swissport, the ground handling company, and Collinson, a medical assistance provider, which urges him to back a test-on-arrival approach that would remove the need for coronavirus-free passengers to be quarantined.

The two companies have agreed a pilot programme with one of Britain’s biggest airports, which they say could be operational within a fortnight.

“Test-on-arrival could sit alongside quarantine, offering a voluntary alternative for those travelling from medium or higher risk countries, who do not wish to be subject to 14-day restrictions,” said the letter, sent on Wednesday by Swissport’s chief commercial officer for western Europe, Richard Cawthra, and Simon Worrall, Collinson’s global medical director.

“Incoming passengers would undergo a PCR Test on arrival

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