Power firms switch on to online buying.
The rush online by UK industry continued this week as the electricity sector switched on its first internet-based trading exchange in London.
Stockholm stock exchange operator OM estimates the new UK Power Exchange (UKPX) could account for up to 20% of Britain’s electricity consumption.
Last week eight European utilities companies combined to set-up an online purchasing exchange with a joint spending power of almost $28bn.
Fourteen companies representing 80% of the UK electricity generation and 65% of power consumption are due to trade on UKPX, initially in future contracts, before a spot market is set-up in November.
‘We are encouraged by the number of members we have to date,’ said UKPX chief executive, Peter Cox. ‘We now want to build up liquidity and attract further members ready for the launch of the spot market in November.’
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resource61% say providing financial support for their family is of importance to them, with 77% currently doing so Read More...
View articleStartups face unique financial challenges, such as cash flow volatility and equity-based compensation complexities. Innovative strategies and technolo...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleIn 2019, the a survey conducted by the FRC highlighted that only 17% of women held partner-level positions Read More...
View articleDains believes a corporate structure is the best way to maximise the benefits of its growth strategy Read More...
View articleBoth employer and employee will benefit from flexibility and cost-saving Read More...
View articleThere are nine key areas that accounting practices must get to grips with as client expectations and technological developments rise, while team membe...
View articleWhen employees publish opinion and statements on social and other online mediums, they may be leaving themselves open to interpretation of codes of et...
View article