Fulcrum Utility Services Ltd EU ruling - British Capacity Market scheme
28 Octubre 2019 - 01:01AM
RNS Non-Regulatory
TIDMFCRM
Fulcrum Utility Services Ltd
28 October 2019
28 October 2019
FULCRUM UTILITY SERVICES LIMITED
("Fulcrum" or the "Company")
Outcome of EU Commission ruling on the British Capacity Market
scheme
The Board of Fulcrum Utility Services plc, the UK's market
leading independent multi-utility infrastructure and services
provider, note that, following an in-depth investigation, the
European Commission has approved under EU State aid rules the
British Capacity Market scheme ("the Scheme") introduced in 2014 to
safeguard security of electricity supply. Notably, the Commission
did not find any evidence that the Scheme would put demand response
operators or any other capacity providers at a disadvantage with
respect to their participation in the Scheme.
This ruling overturns the previous capacity market suspension by
the EU in November 2018, which was delaying a significant number of
customer investment decisions particularly in relation to Dunamis's
high voltage design and build business, which was reported in the
Company trading statement 28 March 2019.
Attached are the links to UK Parliament and EU Commission press
releases:
https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2019-10-24/HCWS38/
https://europa.eu/rapid/press-release_IP-19-6152_en.htm
Enquiries:
Cenkos Securities plc (Nominated adviser and broker) +44 (0)20 7397
Max Hartley (Nomad) / Michael Johnson (Sales) 8900
Camarco (Financial PR advisers)
Ginny Pulbrook / Tom Huddart +44(0)203 757 4992
Notes to Editors:
Fulcrum is a multi-utility infrastructure and services provider
based in Sheffield, UK. The Company's primary business is the
provision of utility infrastructure services to the residential,
commercial and industrial markets throughout the mainland UK. These
range from the design, installation or alteration of utility
services for single site properties to large complex multi-site
projects. Through its subsidiaries, Fulcrum Pipelines Limited and
Fulcrum Electricity Assets Limited, Fulcrum is also licensed as an
Independent Gas Transporter and Independent Distribution Network
Operator, owning and operating gas and electrical assets that
connect properties to the main UK gas and electricity networks.
Fulcrum is also a meter asset manager, owning and operating meter
assets across mainland UK.
http://www.fulcrum.co.uk/
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END
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