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Jacob Hayler, executive director, ESA: “These cuts will not only cause serious damage to the UK’s transition to low-carbon energy sources, but will threaten our resource efficiency ambitions by raising costs of waste management for local authorities and disincentivising resource efficient use of waste as a fuel. ” Network charging is highly complex and we are concerned that Ofgem is rushing through changes that will have unintended consequences. Energy generated from waste is a reliable source of low-carbon baseload electricity which contributes to the UK’s security of supply whilst keeping costs down for consumers. Ofgem appears to be ignoring this and will inadvertently force smaller more sustainable generators out of the market. “Rather than targeting embedded benefits in isolation, Ofgem should undertake a holistic review of network charging to avoid wider distortions.” Tim Rotheray, director, ADE: “Ofgem’s proposal will support increased coal generation at the expense of the smarter, more flexible and innovative energy solutions we should be supporting. “Ofgem has depended on a rushed industry review, led by large coal and gas generation interests, and has not undertaken the kind of robust evidence gathering that we would expect for a decision worth hundreds of millions of pounds. Ofgem’s assumptions for consumer savings are entirely dependent on new large gas power stations being built, an assumption which was not born out by the last Capacity Market auction. “Ofgem’s approach could just as easily result in higher energy costs for everyday householders, and the consequences for industrial manufacturers, hospitals, and local authorities who generate their own power could be devastating.”

I have been looking at opposition to the Ofgem proposal and it is widespread. Here are some key opponents statement; Tim Emrich, chief executive, UK Power Reserve: “We agree that reform is needed which balances the requirements for security of supply, value to consumers and decarbonisation of power generation. However, the current proposal to reform the long-standing triad system so quickly cuts across the need to maintain investor confidence by not enacting retrospective changes on historic investment decisions. ” Our analysis demonstrates that changes of this sort, whilst superficially appearing to deliver short term benefits for consumers, will in the long run result in higher costs: further subsidies will be required to keep old and unreliable coal plant open as investment in new, flexible gas plant is deterred. The energy system is already hugely biased towards maintaining the status quo. And the result of these changes will be to sustain legacy coal and gas power stations which are dirty, inflexible and uneconomic. Our journey towards a smarter, cleaner and more affordable energy system is being dealt a big blow today.” Stefan Leedham, acting head of governance at ElectraLink: “The energy industry has been grappling with how best to address this issue for a number of years. The plans outlined today will affect a large number of generators. Cutting embedded benefits could impact much needed investment in the sector and more broadly affect the energy market which is already in flux. The level of the proposed changes demonstrates the impact that could occur if these issues are not addressed quickly. The increasing volume of embedded generation has meant that more GSPs have started to export energy as the volume of embedded generation increases. We continue to believe there is value in undertaking a holistic review of the electricity charging regimes covering transmission and distribution to ensure they are set up to accommodate increasing levels of storage and smart grids; and avoid step changes which harm investor confidence.” James Court, head of policy and external affairs, Renewable Energy Association: “This decision flies in the face in the face of where the industry is trying to move, making decentralised and renewable technologies more expensive whilst rewarding existing incumbent fossil fuels. “Grid charging is complex, trying to unpick one area seriously distorts the whole market. We, along with the vast majority of the industry, have been calling for a significant code review to look at the entire area to ensure that charges are fair and appropriate. This highlights the problems of a selected few making decisions on behalf of the whole sector.”

As usual people have only read the bad news which is not even news!! It is a "minded to " proposal which represents a part of Plutus's income stream. I won't patronise people by copying the RNS but suggest you all read it in full. Way oversold

Interesting email from a contact at Rockpool. I asked whether the announcement would be disastrous for the business model. Here is the response ; "We've been expecting a reduction in Triad payments, although this is at the bottom end of the range of outcomes. It doesn't destroy the business model as the companies have capacity payments (which we always viewed as upside) and balancing services (STOR, FFR etc). Furthermore the changes in Triad are being phased in and won't be fully effective until the winter of 2020/21. Our current expectation is that all the peak power companies can achieve a return in-line with the base case in the original blueprints." That is exceptionally re-assuring.

Just one comment on this. Some people have accused people selling last week as insiders knowing this was coming. The announcement made yesterday was out of the blue. I spoke with Green Frog today and they confirmed that this was not expected. Furthermore they will be contesting the proposal along with Plutus and other affected parties. Oversold.

So much good news but price dropping back . This is seriously oversold

You mean a sell first thing!! Let's hope it is the final dump of the seller and we can build positivity back. I have been surprised by the amount of selling in a share that has excellent prospects going forward

I reckon we might find out this afternoon. The pattern has been afternoon sells.

It is my sincere hope and belief that the seller should be nearly done. Price rose quite quickly today until he / she reappeared. Once done we should move quickly up

Maybe cantor wanted it.

Just noticed that Plutus have a new website. Very informative

Sell at 2.45 was a buy . Me. Following trades also buys . This is a non sensical drop and will be laughed at in a years time. Plutus is probably at its strongest moment ever with amazing prospects

New broker appointed. Much higher profile . Should be good news

episode 713

/www.**********.co.uk/blogs/713-energiser-investments-engi-plutus-powergen-ppg-and-nu-oil-and-gas-nuog/ or on iTunes - https://itunes.apple.com/gb/podcast/vox-markets-podcast-justin/id910474791?mt=2

I suggest anyone interested Listens to the vox markets podcast by CEO Charles Tatnal . Excellent.

1000 posts on CTAG and it's a pile of....... 2 on here and its gold!!

And no comment on here. Everyone chasing the dream if ctag. This is real!!

Feels like there could be one final sell lurking. Can't get a sell price but bid rising

http://www.toynews-online.biz/news/read/rubik-s-celebrates-record-year-of-retail-sales-with-slew-of-announcements/048090 The puzzle brand has also partnered with Paragon Entertainment to create a series of escape rooms, titled Rubik’s Challenge Rooms. These will feature a host of different logic puzzles and conundrums to solve before participants can escape. The Rubik’s escape rooms are slated to appear at theme parks and entertainment centers across the globe.