Latest news with #IRP
News24
3 days ago
- Business
- News24
Ramokgopa announces preferred bidders for third battery energy storage
616MW of battery storage will be added across five sites in the Free State, with operation expected by 2028. The projects will store excess solar energy generated for use during the peak demand periods. Four of the five winning bids went to SA company Mulilo, reflecting increased local capacity and competitiveness. South Africa's push to stabilise its power grid through battery energy storage systems has advanced with the announcement of preferred bidders for the third bid window of the Battery Energy Storage Independent Power Procurement Programme. Electricity and Energy Minister Kgosientsho Ramokgopa announced this during a press briefing on Friday, confirming that 616MW of new battery storage capacity would be added to the national grid. This allocation is the final portion of government's 1 744MW target, as laid out in the Integrated Resource Plan (IRP). The latest bid window will see an investment of R9.5 billion, with project completion expected in January 2028. Battery storage to support solar during peak demand Ramokgopa explained that battery energy storage plays a critical role in improving grid flexibility by capturing excess electricity generated during the day, mostly from solar photovoltaic (PV) sources and discharging it during peak periods in the morning and evening. This approach aims to reduce reliance on costly diesel-powered open-cycle gas turbines during peak hours. 'During the day, our solar PV plants generate more electricity than we need.' Instead of wasting that surplus, these batteries will allow us to store it and release it later in the evening, when demand is at its highest. Kgosientsho Ramokgopa Currently, peak electricity demand occurs between 6am and 8.30am and again between 5.30pm and 7.30pm, with the evening peak particularly severe. The battery systems are designed to provide four hours of storage capacity, enough to cover both peak periods daily, adding up to 730 charge-discharge cycles annually. Five projects located in the Free State The 616MW capacity will be installed across five sites in the Free State, identified by the National Transmission Company of SA as strategically suitable for new grid support infrastructure. Each site has one preferred bidder assigned: Scatec was appointed for the Leander Substation site. Mulilo Energy was selected for the remaining four sites, including Everest, Harvard and Merapi. Ramokgopa noted the increasing competitiveness of domestic developers: 'We're seeing more South African companies winning bids in these programmes. Four out of five of the projects in this round have gone to a local developer, which is encouraging for the sector.' The minister also noted the geographic spread of the three bid windows to date: the first was concentrated in the Northern Cape and parts of North West; the second was mainly in North West and the third was focused on the Free State. Procurement process and technical considerations The third bid window was launched in March last year, following an open and competitive process. According to Ramokgopa, the process considered several technical criteria beyond pricing, including: Round-trip efficiency: The ability of batteries to return the same amount of electricity that was used to charge them. Rapid voltage change factor: A metric based on the battery's proximity to substations, affecting technical losses and bid scores. Government intends to improve fairness in future bid windows by pre-procuring land near substations to prevent distance-related disadvantages for bidders. The power purchase agreements signed with the preferred bidders will span 15 years, which aligns with global industry norms for battery storage contracts. Commercial close was targeted for January next year, with full commercial operation scheduled by January 2028. However, the minister encouraged developers to accelerate this timeline where possible. Programme outlook and future plans The 616MW announced on Wednesday concluded the initial 1 744MW target for battery energy storage outlined in the current IRP. This included: 513MW from bid window 1 615MW from bid window 2 616MW from bid window 3 The updated IRP, which will outline new targets and procurement rounds, is currently under review by the National Economic Development and Labour Council. SA is considered a continental leader in deploying battery energy storage and government aims to maintain this position as part of its broader transition to cleaner energy. However, Ramokgopa emphasised that coal remained the backbone of the country's energy generation capacity and plans involved a mix of energy sources rather than outright replacement. 'We are not pitting one energy source against another.'
RNZ News
22-05-2025
- Sport
- RNZ News
'Not involved': World Rugby accused of 'late stage' player involvement in sevens overhaul
HSBC SVNS Photo: Zach Franzen / World Rugby The global representative body International Rugby Players (IRP) claims players were not involved in devising World Rugby's new HSBC SVNS competition model. However, a World Rugby spokesperson told RNZ Pacific this is incorrect, stating that consultation with players and representatives did take place. In a statement, IRP chief executive Omar Hassanein said they were presented with the details of the new format at a late stage - just before its submission to the World Rugby Executive Board for ratification. World Rugby stated, during its 1 May announcement of the new competition format, that consultation took place throughout the process as part of stakeholder discussions. "Players were consulted on the proposed model changes throughout via the IRP," the World Rugby spokesperson said. World Rugby said after significant discussions in 2024, the model was presented to the IRP before it went out for a final round of consultation in February and March this year. It said during this final round of consultation feedback was received from IRP before the Rugby Sevens High Performance Committee (which included player representatives) considered the final proposal. They then recommended it to the Executive Board (which involved IRP representatives), which approved the final recommendation. However, Hassanein said in a statement issued by the IRPA that although early exchanges took place, "discussions on the actual mechanics of the model did not include the players". The statement, released 11 days after World Rugby announced the new three-division series, called for players to be at the heart of any future discussions on the future of the Sevens game. The global representative body for professional rugby players said the only way to make the code successful was to have players at the centre of all detailed decision-making. "During World Rugby's recent development of a new tournament model, IRP can confirm that players were not involved in devising the model and were instead presented with its details at a late stage, immediately prior to its submission for ratification by the World Rugby Executive Board," Hassanein said. "Following the incredible success of the 2024 Paris Olympic Games, there is a fantastic opportunity to grow Rugby Sevens globally, one which we must collectively embrace. "Players understand the game better than anyone, and therefore must be involved at each step to ensure the best outcome. This should include all discussions, not only on tournament structuring and welfare matters, but also the commercial aspects of the game," Hassanein added. IRPA's sentiments were endorsed by US Rugby Players Association president Chris Mattina. He said unions "want the series and Rugby Sevens to grow and believe that this is best done through collaborating with the players competing in these events". "We hope that World Rugby hears the voices of the players and includes them in the process moving forward. for the good of the game," Mattina said. Former All Black and IRP executive member Conrad Smith said the whole process has been very challenging to say the least. "We have had a number of exchanges with World Rugby. Obviously, the definition of "consultation" lies at the heart of the matter," Conrad Smith said. "In saying this, we don't see any benefit for the game of sevens in playing this out in public" adding that the IRP is "keen to now work with World Rugby to make the future of 7's as good as it can be". New Zealand v Fiji in a men's match at the 2025 HSBC SVNS Los Angeles at Dignity Health Sports Park on 3 May 2025. Photo: Alex Ho / World Rugby World Rugby said the sevens model has evolved to strengthen the longterm financial viability of the code, which needed a reset to support unions. It said teams were briefed on three separate occasions at sevens events in Dubai, Hong Kong and Singapore, with constant communication. It said the public announcement was the end of the process, not the first time teams heard. Pacific team Samoa, who were geared to finish in the top four of the World Sevens Challenger Series final playoff in Los Angeles in early May, missed out on requalification for the core SVNS Series after the change was announced at the event. Had the old format of 12 teams still been used, Samoa would have qualified as a core team in the 2025/2026 competition But since the new format was announced, it meant they lost out, and their loss in the final four play-off means they miss out of both the core series and the new division two. Fiji beat New Zealand 33–5 in a men's Pool C match at the 2025 HSBC SVNS Perth at HBF Park on January 25, 2025 in Perth, Australia. Photo: Alex Ho / World Rugby According to World Rugby, the new structure introduces a devolved, three-division hosting model that expands the series from 10 to 13 events in 2026. Division 1 will see core team numbers reduced from 12 to eight per gender in a six-tournament series, with all events adopting a two-day format. Division 2 features six teams per gender, competing across three events while Division 3, a standalone challenger event, will have eight teams per gender, qualifying from regional competitions. World Rugby Sevens general manager Sam Pinder said they are firmly committed to the success of rugby sevens on the road to the LA 2028 Olympic Games. "While change can be difficult, this is an evolution that ultimately secures the sustainable advancement of a sport that has proven to be a hit at the Olympic Games, showcasing some of the most gifted athletes on the planet," Pinder said. "We are grateful for all the engagement throughout an extensive stakeholder consultation process and now look ahead to an exciting future for the short format of the sport." A global host tender process will launch this month to determine the tournament hosts.
BBC News
19-05-2025
- Business
- BBC News
Backing for £577 payrise for Sandwell councillors
A proposal to increase the basic pay for councillors in Sandwell has been basic allowance for all 72 Sandwell councillors will rise by £577 to £12,129 the first time it has risen since 2022. A report by the independent remuneration panel (IRP) – the body tasked with setting councillor allowances – recommended the Paul Moore, deputy leader and cabinet member for finance, said Sandwell's allowance was the lowest in the West Midlands and still £600 behind Solihull and £1,000 behind allowances paid to councillors in Walsall and Wolverhampton. "I would stress that this report is independent and Sandwell's member allowance is less generous than those adopted by neighbouring authorities and in no way can be considered excessive," he said at the annual council meeting on 13 move was approved by councillors with Conservative councillors Amrita Dunn and Les Trumpeter and Green councillor John Tipper voting against. 'Changing committee structure' The IRP had recommended three years ago that councillor pay should increase but when it was put to a vote a few months later, councillors went against the proposals and instead agreed to "freeze" the majority of panel had also again recommended that the council adopts yearly inflationary increases of up to 4%.In 2022, a pay award of £1,925 was offered to most local government staff across the UK, including those in councils and schools and while turning down the chance to increase pay, councillors also then voted to ignore the panel's recommendation and turn down set yearly inflationary Council is changing its committee structure which means the IRP, which also calculates how much councillors with "special responsibilities" such as the leader and deputy leader as well as chairs and vice chairs of committees should also be paid, will be meeting again to decide on changes to those amounts following the leader of the Labour-run council councillor Kerrie Carmichael receives two-and-a-half times the basic allowance for the role – which was £28,584 in 2023/ members receive £17,150 extra each, the chair of the council's budget scrutiny committee and the chairs of the planning and licensing committees each receiv£11,433 extra while the chairs of other scrutiny committees net a further £9,519. This news was gathered by the Local Democracy Reporting Service which covers councils and other public service organisations. Follow BBC Wolverhampton & Black Country on BBC Sounds, Facebook, X and Instagram.
Indian Express
16-05-2025
- Business
- Indian Express
NCLT to hear Gensol insolvency plea
The National Company Law Tribunal (NCLT), Ahmedabad, on Friday issued a notice to Gensol Engineering, directing it to file a reply over the insolvency plea filed by public sector Indian Renewable Energy Development Agency (IREDA). IREDA plea came before a two-member bench of the NCLT which posted it for hearing on June 3. The bench refused the PSU's request to appoint an Interim Resolution Professional (IRP) to take charge of the company as the top leadership had exited in the wake of the ban order passed by the market regulator Sebi. IREDA filed the insolvency petition under Section 7 of Insolvency and Bankruptcy Code 2016 before NCLT against the company in respect of the defaults and potential defaults under the five loan facilities availed by the company. IREDA had claimed a default of Rs 510 crore. 'The company's operations came to a complete standstill due to the SEBI interim order dated April 15, 2025 and due to the prejudice emanating from the SEBI, the Company is facing a barrage of litigation and claims from various parties,' the company said in an exchange filing. Market regulator SEBI passed an order on April 15, barring Gensol Engineering and promoters — Anmol Singh Jaggi and Puneet Singh Jaggi — from the securities markets till further orders in a fund diversion and governance lapses case. On May 12, Jaggi brothers resigned from the company following the Sebi's interim order, according to an exchange filing. Anmol Singh Jaggi held the post of Managing Director while Puneet Singh Jaggi was a Whole-time Director. Sebi also debarred Jaggi brothers from holding the position of a director or key managerial personnel in Gensol until further orders. The order came after the regulator received a complaint in June 2024 relating to the manipulation of share price and diversion of funds from GEL and thereafter started examining the matter. The company earlier this week said the Securities Appellate Tribunal (SAT) disposed of its appeal but allowed the company to file its response on Sebi's interim order to bar the firm and its promoters from the securities market. In a regulatory filing, the company said the appeal filed by it before the SAT has been disposed of, granting it an opportunity to file its response to Sebi's interim order within two weeks. It further informed that the markets regulator has been given directions to hear the company within two weeks thereafter and pass an appropriate order within four weeks. The company had raised a Rs 900 crore in equity capital through warrants convertible into equity shares on a preferential basis in February 2024.
Yahoo
16-05-2025
- Business
- Yahoo
Trump revives plan for IRP use in US via MFN executive order
US President Donald Trump has resurrected a plan he failed to achieve during his first term that entails setting US drug prices by benchmarking them to the prices of the same product in other countries. The mechanism, referred to as Most Favored Nation (MFN) status in Trump's May 12 Executive Order (EO), amounts to International Reference Pricing (IRP) – a price-setting system on which GlobalData is the world's leading expert. IRP is currently used by more than 75 countries worldwide to set drug prices. GlobalData analysts track changes to all countries' IRP systems daily and can judge the implications of small tweaks to existing external reference pricing (ERP) rules for drug prices and the ability to reference. As such, GlobalData is perfectly positioned to judge whether Trump's MFN EO will produce its intended result. In short, the EO aims to secure US drug prices that are the lowest among the reference countries through the following measures: The Department of Health and Human Services (HHS) informing pharma companies in the next 30 days what prices will be acceptable If 'significant progress' is not made, the HHS is directed to impose rules that will result in achieving MFN prices If companies fail to comply, the US Government may: 1) take enforcement action against anti-competitive practices, 2) review export licenses for finished pharmaceuticals and APIs, 3) review and potentially revoke marketing authorisations for medicines found to be 'improperly marketed' The approach taken in the EO is to threaten pharma companies into lowering drug prices, but it belies the administration's lack of awareness of how IRP actually works. An ERP system's details are essential for determining the allowed prices under IRP. Among them are: The formula for calculating the price (which, based on the EO, appears to be 'the lowest' price among the reference countries) The basket of reference countries and any specific order of referencing within it Which products will be subject to pricing under IRP (e.g., all prescription drugs, or only some; reimbursable drugs, or non-reimbursable drugs as well; patent-protected drugs only, or generics and biosimilars; and retail drugs, hospital drugs, or both) How often prices will be set under IRP (e.g., only at launch or also at certain intervals after launch) Whether prices from the reference countries will be adjusted in any way before being used for US pricing (e.g., whether mandatory discounts will be incorporated, or will foreign prices – as best IRP practice guidelines recommend – be adjusted by Purchasing Power Parities) What constitutes a suitable product for referencing (e.g., should it have the same formulation, number of units per pack, etc.) What exchange rate will be used to convert foreign prices These and other IRP system features will determine the final IRP drug prices under Trump's MFN plans. They are examined in minute detail in GlobalData's IRP360 country profiles, which are regularly updated when regulations change – as they frequently do. So far, the Trump administration has only provided the formula (i.e., achieving lowest price among reference countries), but all other aspects of the IRP system are subject to conjecture. Without the details for the mechanism specified, it is impossible to precisely quantify the impact of IRP introduction in the US. However, two outcomes are obvious, even at this early stage. One detail that may have escaped US policy makers is that IRP works by affecting the list price – i.e., the 'official' price – of a medicine. US list prices are undoubtedly higher than those in other countries for most originator medicines; however, they are not the real prices. Pharmaceutical manufacturers provide significant discounts, which are at the moment internalised as profit by various third parties involved in the US pharmaceutical distribution process. By forcing the pharma industry to lower US list prices, the Trump administration would be directly hitting the profits of pharmacy benefit managers (PBMs) and private health insurers. The reason for this is that pharma companies, faced with strong pressure on the list price, would have no choice but to cut the confidential discounts they grant to third parties. In other countries, the introduction of IRP in the US would only affect list price levels marginally, but it will cause launch delays – an adverse effect of IRP that disproportionately affects patients in low-priced, frequently referenced markets. This effect will occur because once the basket of reference countries that the US plans to reference becomes clear, companies will be motivated to keep prices in these countries high, in a bid to protect their US prices. However, companies may not be able to keep prices high if most countries in the US reference basket have strong price control measures and themselves use IRP to set drug prices. Therefore, Pharma's only recourse to safeguard US prices will be to delay launching affected products in the countries the US is referencing, or to remove the specific packs/formulations the US is referencing from those markets, or both. To employ an often-used Trump figure of speech: politicians don't hold all the cards. The pharma industry has some cards in its hand, and how it chooses to play them will determine the outcome of Trump's IRP policy. "Trump revives plan for IRP use in US via MFN executive order" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
