ENERGY watchdog Ofgem is slashing red tape to allow new wind and solar farms to connect to the electricity grid faster.
Projects that can be up and running by 2030 will be fast-tracked in a bid to help the Government hit its .
said the changes should benefit “houses, hospitals, electric vehicle charging stations, data centres and the emerging AI sector”;.
Developers have complained for years about the time it takes to get a cable to connect their wind or solar farm to the grid.
The current first-come, first-served approach means that a major project which could provide electricity to millions of homes is often stuck behind more speculative schemes in the queue.
Some companies have waited up to 15 years to be connected, leaving promising businesses “gridlocked”;.
Ofgem chief Jonathan Brearley, said the regulator had taken action because the grid-connection queue had grown tenfold in five years.
He said: “These reforms cut through red tape, consigning zombie projects to the past and accelerating homegrown storage connections.”;
Mr Brearley claimed the new streamlined fast-track approach “will help boost energy security and drive down bills”;.
said: “Too many firms are facing gridlock because they cannot get the clean energy they need to drive growth and create jobs.”;
He added that the lack of access to grid connections has been a significant factor holding back investment in UK industries, but he hoped that would now change.
Ofgem reckons the new more targeted approach will help unlock up to £40billion a year of mainly private investment.
The new system will be managed by the National Energy System Operator.
The regulator wants the first energy projects to be connected under the new regime in 2026.
B&M’S BOSS BID
BUDGET retailer B&M said it is acting to halt falling sales — with a new boss confirmed “in the coming weeks”;.
In February, chief exec Alex Russo after sales fell in each of the last four quarters.
Its UK business saw a 3.1 per cent drop in like-for-like sales over the year, with a 1.8 per cent slide in the last three months.
However, positive sales at its French arm saw revenue climb by 3.7 per cent.
Some 45 new shops were opened, with 45 more planned over the following 12 months.
CHANGING GEAR
MOTORING and cycling business has got a new boss who aims to help the business bounce back.
Henry Birch, formerly at retailer Very Group, has replaced Graham Stapleton, Halfords’ chief of seven years.
In his first move, Mr Birch warned that the “challenging consumer and economic outlook appears unlikely to subside in the short term”;.
However, sales rose 2.3 per cent in the last year and profits were close to £37million.
Mr Birch added Halfords is “well-positioned for success”;.
PAY RISES BUT JOBS DROPPING
AVERAGE weekly by 5.9 per cent in the three months to the end of February, official figures show.
But the number of vacancies fell below pre-pandemic levels for the first time since 2020.
The number of available jobs slipped to 781,000 for the three months to March, according to the Office For National Statistics.
ONS economist Liz McKeown said yesterday: “Regular pay growth remains strong having increased slightly in the latest period.”;
Growth accelerated in the public sector, she added, while pay in the private sector saw little change.
The figures showed that the UK stayed at 4.4 per cent in March.
Analysts warned that could grow amid “a backdrop of significant uncertainty”;.
The employment rate for those aged 16 to 64 was 75.1 per cent. Labour hopes to increase it to 80 per cent.
ASHLEY’S OZ PUSH
MIKE Ashley’s Frasers Group has signed a deal with Accent Group to launch in Australia and New Zealand.
The move is the retailer’s latest step in its bid to spread its brands across the globe.
Accent said it plans to build a large Sports Direct business in Australia, with an initial roll-out of at least 50 stores in the next six years.
It will have access to Fraser brands Everlast, Slazenger, Karrimor and USA Pro.
