Latest news with #MarkHodgson
Cision Canada
6 days ago
- Business
- Cision Canada
ACQUISITION OF COMMON SHARES AND WARRANTS OF ATLAS ENERGY CORP. BY RICHARD F. MCHARDY
CALGARY, AB, July 7, 2025 /CNW/ - Pursuant to the early warning requirements of applicable Canadian securities laws, Richard F. McHardy (" Acquiror") reports that, on June 19, 2025, the Acquiror, together with joint actors, acquired an aggregate of 64,400,000 common shares (" Common Shares") in the capital of Atlas Energy Corp. (" Atlas" or the " Company") and 64,400,000 Common Share purchase warrants (" Warrants") for a total purchase price of $3.2 million under a non-brokered private placement of 300,000,000 Common Shares and 300,000,000 units (" Units") of the Company at a price of CDN$0.05 per Common Share and Unit, as applicable (the " Private Placement"). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of CDN$0.05 (the " Exercise Price") per Common Share at any time prior to June 19, 2025. The Warrants will vest and become exercisable as to one-third upon the 10-day weighted average trading price of the Common Shares (the " Market Price") equaling or exceeding 50% above the Exercise Price, an additional one-third upon the Market Price equaling or exceeding 75% above the Exercise Price and a final one-third upon the Market Price equaling or exceeding 100% above the Exercise Price. Concurrent with the Private Placement, the Company: (a) changed its name to "Atlas Energy Corp." from "Willow Biosciences Inc."; (b) consolidated its Common Shares on the basis of one (1) post-consolidation Common Share for every five (5) pre-consolidation Common Shares (the " Consolidation"); (c) appointed a new management team (the " New Executive Team") led by Mark Hodgson as President and Chief Executive Officer, Travis Doupe as Chief Financial Officer, Don Kornelsen as Vice President, Commercial, Ryan Giroux as Vice President, Corporate Development and Blair Anderson as Vice President, Geoscience of the Company and Richard Naden as a Senior Executive; and (d) reconstituted its board of directors, with the new board being comprised of Mark Hodgson, Richard F. McHardy, Gary Brown, Glenn McNamara and Scott Price. For the purposes of this Press Release, all figures are presented on a post-Consolidation basis. The New Executive Team will focus on investing in producing and growth-oriented oil and gas assets aligned with their prior operating expertise. With a disciplined and diversified strategy, the Company will aim to acquire economic interests in undercapitalized assets that have been overlooked amid recent shifts in capital allocation within the industry. The portfolio will be structured to manage risk and capture upside by balancing exposure across jurisdictions, asset stages, commodity price dynamics and offtake structures. The Company is uniquely positioned as one of the only royalty and streaming platforms dedicated to international oil and gas - offering a rare opportunity to generate strong shareholder returns in an underserved segment of the market. Immediately following the completion of the Private Placement, Acquiror beneficially owned or controlled, directly or indirectly, 64,400,000 Common Shares and 64,400,000 Warrants pursuant to the Private Placement, representing 10.23% (on a non-diluted basis) and 18.56% (on a fully diluted basis) of the voting securities of the Company. Prior to the Private Placement, Acquiror did not hold any securities of Atlas. Acquiror acquired the Common Shares and Warrants for investment purposes and may, in the future, increase or decrease its ownership of securities of Atlas, directly or indirectly, from time to time depending upon, among other things, the business and prospects of Atlas and future market conditions. For further details regarding the acquisition of the Common Shares and Warrants described above, see the Early Warning Report dated July 4, 2025, available on the Company's SEDAR+ profile. SOURCE Richard F. McHardy
Cision Canada
6 days ago
- Business
- Cision Canada
ACQUISITION OF COMMON SHARES AND WARRANTS OF ATLAS ENERGY CORP. BY MARK HODGSON
CALGARY, AB, July 7, 2025 /CNW/ - Pursuant to the early warning requirements of applicable Canadian securities laws, Mark Hodgson (" Acquiror") reports that, on June 19, 2025, the Acquiror, together with joint actors, acquired an aggregate of 80,000,000 common shares (" Common Shares") in the capital of Atlas Energy Corp. (" Atlas" or the " Company") and 80,000,000 Common Share purchase warrants (" Warrants") for a total purchase price of $4.0 million under a non-brokered private placement of 300,000,000 Common Shares and 300,000,000 units (" Units") of the Company at a price of CDN$0.05 per Common Share and Unit, as applicable (the " Private Placement"). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of CDN$0.05 (the " Exercise Price") per Common Share at any time prior to June 19, 2025. The Warrants will vest and become exercisable as to one-third upon the 10-day weighted average trading price of the Common Shares (the " Market Price") equaling or exceeding 50% above the Exercise Price, an additional one-third upon the Market Price equaling or exceeding 75% above the Exercise Price and a final one-third upon the Market Price equaling or exceeding 100% above the Exercise Price. Concurrent with the Private Placement, the Company: (a) changed its name to "Atlas Energy Corp." from "Willow Biosciences Inc."; (b) consolidated its Common Shares on the basis of one (1) post-consolidation Common Share for every five (5) pre-consolidation Common Shares (the " Consolidation"); (c) appointed a new management team (the " New Executive Team") led by Mark Hodgson as President and Chief Executive Officer, Travis Doupe as Chief Financial Officer, Don Kornelsen as Vice President, Commercial, Ryan Giroux as Vice President, Corporate Development and Blair Anderson as Vice President, Geoscience of the Company and Richard Naden as a Senior Executive; and (d) reconstituted its board of directors, with the new board being comprised of Mark Hodgson, Richard F. McHardy, Gary Brown, Glenn McNamara and Scott Price. For the purposes of this Press Release, all figures are presented on a post-Consolidation basis. The New Executive Team will focus on investing in producing and growth-oriented oil and gas assets aligned with their prior operating expertise. With a disciplined and diversified strategy, the Company will aim to acquire economic interests in undercapitalized assets that have been overlooked amid recent shifts in capital allocation within the industry. The portfolio will be structured to manage risk and capture upside by balancing exposure across jurisdictions, asset stages, commodity price dynamics and offtake structures. The Company is uniquely positioned as one of the only royalty and streaming platforms dedicated to international oil and gas - offering a rare opportunity to generate strong shareholder returns in an underserved segment of the market. Immediately following the completion of the Private Placement, Acquiror beneficially owned or controlled, directly or indirectly, 80,000,000 Common Shares and 80,000,000 Warrants pursuant to the Private Placement, representing 12.71% (on a non-diluted basis) and 22.55% (on a fully diluted basis) of the voting securities of the Company. Prior to the Private Placement, Acquiror did not hold any securities of Atlas. Acquiror acquired the Common Shares and Warrants for investment purposes and may, in the future, increase or decrease its ownership of securities of Atlas, directly or indirectly, from time to time depending upon, among other things, the business and prospects of Atlas and future market conditions. For further details regarding the acquisition of the Common Shares and Warrants described above, see the Early Warning Report dated July 4, 2025, available on the Company's SEDAR+ profile. SOURCE Mark Hodgson
Toronto Sun
22-06-2025
- Entertainment
- Toronto Sun
How to catch a cheating partner, according to a private investigator
Blurred shot of colleagues and making out late in empty office. Getty Images Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. More people are turning to TikTok to find out ways to catch their cheating partners, but some of the advice being thrown about by content creators isn't always reliable. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account 'Honestly, most of the time when someone's thinking about hiring an investigator or trying out those DIY TikTok hacks to confirm a suspicion about their partner, their instincts are probably right,' Mark Hodgson, a private investigator at Tremark, told The Toronto Sun. 'But in my experience, it's always better to trust your gut and just have an honest conversation.' He looked at several viral hacks and discerned which ones were effective and debunked the rest. Location tracking apps You may have apps such as Life360 for your children, so why wouldn't the same work for an adult? While many TikTok users have admitted to using them to monitor a partner's movements and whereabouts, the issue is more about how the use of such apps without consent can violate privacy laws. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. 'This kind of surveillance can cross legal boundaries and erode trust,' he said. 'It's far better to have an open and honest conversation with your partner about your concerns.' Monitor social media Checking a person's social media for hidden messages can sometimes work, Hodgson said, but noted that one must remember that not all interactions are indicative of infidelity or romantic/sexual intent. 'Always consider context — just because someone is messaging someone else doesn't mean they are cheating,' Hodgson explained. 'It's essential to look for patterns rather than isolated incidents,' he said. 'The key is to observe the overall behaviour and look for signs that go beyond just social media activity.' This advertisement has not loaded yet, but your article continues below. A sudden change in how a partner presents themselves online and in person can sometimes indicate a desire to impress someone new. 'While not definitive proof of cheating, noticeable changes in behaviour or grooming can be a sign that something is amiss,' Hodgson suggested, but added that 'other indicators' may need to be factored in. Join 'Are We Dating the Same Guy?' Facebook groups These groups can be a treasure trove of shared experiences, but it could also be gossip to land an innocent person in hot water. 'Misinformation can spread like wildfire in online communities,' Hodgson noted. 'It's crucial to verify claims before jumping to conclusions.' Read More This advertisement has not loaded yet, but your article continues below. This TikTok trend suggests putting glitter inside the mirror above the passenger seat, assuming the supposed affair partner will open it and be covered in the sparkly stuff, but Hodgson dismissed its impracticality. 'This trick relies on several unlikely scenarios — that your partner is cheating, that the other person will open the mirror, and that the glitter will spill visibly.' Check for secret apps on phone Many videos and articles about 'secret apps' have gone viral, creating a misconception that these apps are the go-to solution for uncovering infidelity. Ultimately, though, using such methods can breach privacy and seriously harm the trust in a relationship. 'Checking for secret apps may seem like an effective shortcut, but breaking your partner's trust by checking their phone can cause more harm than good.' Sports Sunshine Girls Columnists Editorial Cartoons NBA
Cision Canada
19-06-2025
- Business
- Cision Canada
WILLOW BIOSCIENCES INC. ANNOUNCES COMPLETION OF TRANSFORMATIVE RECAPITALIZATION TRANSACTIONS TO FORM ATLAS ENERGY CORP.
CALGARY, AB, June 19, 2025 /CNW/ - Atlas Energy Corp. (formerly Willow Biosciences Inc.) (the " Company") (TSX: WLLW), in connection with its TSXV Sandbox listing, is pleased to announce that it has completed its previously announced: (a) non-brokered equity private placement for aggregate gross proceeds of $30.0 million (the " Private Placement"); (b) appointment of a new management team and new board of directors; (c) name change to "Atlas Energy Corp." (the " Name Change"); and (d) consolidation (the " Consolidation") of the common shares of the Company (the " Common Shares") on the basis of one (1) post-Consolidation Common Share for every five (5) pre-Consolidation Common Shares. The post-Consolidation Common Shares will commence trading on the facilities of the Toronto Stock Exchange (the " TSX") under the new name "Atlas Energy Corp." and new symbol "ATLE" within 2 business days of TSX receipt and acceptance of the required documentation pertaining to the Name Change and Consolidation, which is expected to be on or about market opening on Monday, June 23, 2025. The post-Consolidation Common Shares are expected to be delisted from the TSX on or about market close on Monday, June 23, 2025 and to commence trading under the new name "Atlas Energy Corp." and new symbol "ATLE" on the facilities of the TSX Venture Exchange (the " TSXV") at market opening on Tuesday, June 24, 2025. "Listing Atlas Energy Corp marks a major milestone in our mission to redefine capital access for international energy producers. With $30 million now raised and a strong shareholder base behind us, we're actively evaluating a range of high-quality royalty and streaming opportunities across the globe," said Mark Hodgson, the Company's President and Chief Executive Officer. "This is just the beginning — we're building a new kind of energy partner: one that delivers flexible, non-dilutive capital to responsible operators in the world's most dynamic basins." Pursuant to the Private Placement, on a post-Consolidation basis, the Company issued an aggregate of 300.0 million units (" Units") and 300.0 million Common Shares at a price of $0.05 per Unit and Common Share, as applicable, for gross proceeds of $30.0 million. Proceeds from the Private Placement will be used to fund future acquisition opportunities and for general working capital purposes. Each Unit issued under the Private Placement was comprised of one Common Share and one Common Share purchase warrant (each, a " Warrant"). Each Warrant will entitle the holder thereof to purchase one (1) Common Share at a price of $0.05 (the " Exercise Price") until June 19, 2030. The Warrants will vest and become exercisable in accordance with the terms set forth in the press release of the Company dated May 7, 2025. Pursuant to applicable securities laws, all securities issued pursuant to the Private Placement are subject to a hold period of four months plus one day following the date of issuance of such securities. The Private Placement remains subject to the final approval of the TSXV. Following the Private Placement and the Consolidation, there are a total of 629,439,353 issued and outstanding Common Shares. New Management Team and New Board The new management team and new board were appointed concurrently with the completion of the Private Placement, led by Mark Hodgson as President and Chief Executive Officer, Travis Doupe as Chief Financial Officer, Don Kornelsen as Vice President, Commercial, Ryan Giroux as Vice President, Corporate Development and Blair Anderson as Vice President, Geoscience of the Company and Richard Naden as a Senior Executive and including Mark Hodgson, Richard F. McHardy, Gary Brown, Glenn McNamara and Scott Price as directors. In addition, Sanjib (Sony) Gill, a partner in the Calgary office of the national law firm Stikeman Elliott LLP, will act as Corporate Secretary. The new management team expects to focus on investing in producing and growth-oriented oil and gas assets aligned with their prior operating expertise. With a disciplined and diversified strategy, the Company will aim to acquire economic interests in undercapitalized assets that have been overlooked amid recent shifts in capital allocation within the industry. The new management team is actively evaluating numerous opportunities. Transition to TSXV Sandbox Program and Voluntary Delisting from TSX As previously announced, the Company has received conditional approval to list its Common Shares on the facilities of the TSXV as a Tier 2 Investment Issuer under the TSXV Sandbox Program. The TSXV Sandbox is an initiative intended to facilitate listing applications that may not generally satisfy the requirements and guidelines of the TSXV, but due to facts or situations unique to a particular issuer otherwise warrant a listing on the TSXV or an exemption from certain requirements in the TSXV Corporate Finance Manual. The Company does not currently meet certain of the original listing requirements of the TSXV set out in Policy 2.1 – Initial Listing Requirements because the Company will have no specific investments at the time of listing on TSXV and will therefore not meet the initial listing requirement of having 50% of its available funds invested in 2 specific investments at the time of listing to meet initial listing requirements for a Tier 2 Investment Issuer. As such, the TSXV has exercised its discretion to waive certain original listing requirements in granting the Company conditional approval for listing pursuant to the TSXV Sandbox. The Company's press release dated June 16, 2025 provides an overview of all waivers granted in connection with the Company's listing, details on the listing conditions imposed by the Company, the exit conditions the Company must meet in order to exit TSXV Sandbox, and any consequences if the Company does not meet these exit conditions. Once listed, there can be no assurance that the Company will meet all the exit conditions. Additional Information for Willow Shareholders The Name Change and the Consolidation have not affected the validity of previously issued share certificates of the Company. However, registered shareholders are required to exchange their share certificates for share certificates evidencing the post-Name Change and post-Consolidation Common Share amount. Registered shareholders have been mailed a letter of transmittal today containing instructions on how to surrender share certificates evidencing the pre-Consolidation Common Share amount to Odyssey Trust Company (the " Depositary"). A sample letter of transmittal is also available on the Company's profile on if a registered shareholder does not receive a letter of transmittal in respect of its Common Shares represented by share certificates. The Depositary will forward to each registered shareholder who has sent the required documents set forth in the letter of transmittal new share certificates evidencing the new post-Name Change and post-Consolidation Common Share amount. Until surrendered, each share certificate representing pre-Consolidation Common Shares will be deemed for all purposes to represent the post-Consolidation Common Shares to which the holder is entitled following the Consolidation. Non-registered shareholders (eg. beneficial shareholders holding Common Shares through an intermediary (a securities broker, dealer, bank or financial institution)) should be aware that the intermediary may have different procedures for processing the Consolidation than those that will be put in place by the Company for registered shareholders. If shareholders hold their Common Shares through an intermediary and they have questions in this regard, they are encouraged to contact their intermediaries. No fractional shares have been issued pursuant to the Consolidation. Any fractional interest in Common Shares that is less than 0.5 resulting from the Consolidation has been rounded down to the nearest whole Common Share and any fractional interest in Common Shares that is 0.5 or greater has been rounded up to the nearest whole Common Share. The Company's new CUSIP number is 048924104 and new ISIN number is CA0489241046. The Company's outstanding Common Share purchase warrants have been adjusted on the same basis as the Consolidation with respect to the underlying Common Shares exercisable pursuant to the warrants with proportionate adjustments being made to exercise prices. National Bank Financial Inc. and DeltaCap Partners Inc. were engaged as financial advisors in connection with the Private Placement and received cash advisory fees in the aggregate amount of $750,000. About Atlas Energy Corp. The recapitalized Company is an international upstream royalty and streaming company focused on the identification, acquisition, management and monetization of a well-diversified portfolio of international upstream oil and gas royalty and streaming transactions. The Company will also evaluate royalty and streaming opportunities in the North American market should such opportunities become available at similar attractive metrics. Reader Advisories Investors are cautioned that, except as disclosed in the Company's TSXV Form 2B – Listing Application dated June 17, 2025, which was prepared and filed in connection with the recapitalization transactions, as available on the Company's profile on any information released or received with respect to the recapitalization transactions may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative. The TSX Venture Exchange has in no way passed upon the merits of the recapitalization transactions and has neither approved nor disapproved of the contents of this press release. Investors are advised that the Company is expected to be listed on TSXV as a TSXV Sandbox Listing as the Company will not meet all TSXV's listing requirements at the time of listing. Investors are advised to review the Company's news release dated June 16, 2025 to review all waivers granted in connection with the Company's listing, details on the listing conditions imposed by the Company, the exit conditions the Company must meet in order to exit TSXV Sandbox, and any consequences if the Company does not meet these exit conditions. Once listed, there can be no assurance that the Company will meet all the exit conditions. For details on TSXV Sandbox Listings, please visit resources/tsxv-sandbox. Forward-Looking and Cautionary Statements This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward-looking statements and information concerning: the use of proceeds from the Private Placement; final approval of the TSXV in respect of the listing of the Common Shares on the facilities of the TSXV; the business plan of the Company; and the Company's ability to meet the exit conditions. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning TSXV and regulatory approvals, the use of proceeds from the Private Placement and the ability of the new management team to implement the corporate strategy of the recapitalized company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, the parties being unable to obtain the required TSXV approvals, fluctuations in commodity prices, changes in industry regulations and political landscape both domestically and abroad, foreign exchange or interest rates, stock market volatility, the imposition or expansion of tariffs imposed by domestic and foreign governments or the imposition of other restrictive trade measures, retaliatory or countermeasures implemented by such governments, including the introduction of regulatory barriers to trade and the potential effect on the demand and/or market price for the oil and gas production and/or otherwise adversely affects the Company, the availability of investment opportunities meeting the new management team's investment criteria, the retention of key management and employees and obtaining required approvals of regulatory authorities. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. All dollar figures included herein are presented in Canadian dollars, unless otherwise noted. SOURCE Willow Biosciences Inc.
Scotsman
06-06-2025
- Business
- Scotsman
'Scandalous waste of money' - Households to feel increased weight of £500m windfarm bill for creaking grid
Some of the ever increasing number of turbines are having to be turned off due to lack of grid capacity. Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Household bills are projected to increase because the UK Government's obligation to cover for windfarms to stop overloading an already at-capacity grid has reached the highest level on record. Some £500 million has been paid to developers so far this year alone to pause wind generation or turn on gas plants in their place because of a creaking grid network. Advertisement Hide Ad Advertisement Hide Ad The figure is roughly a £150m increase on the figure from the same time period last year. One estimate, by think tank Carbon Tracker, showed curtailment costs - where windfarm developers are paid to switch off turbines because the grid network is too congested to accept their power - were already costing the average household about £40 per year in 2023. At the time, researchers said this was set to triple by 2026 in the context of increasing renewable energy projects and delayed upgrades to the grid. Octopus Energy, the nation's leading power supplier, estimates that by 2030, these payments could be adding £6bn a year to consumer bills – roughly equating to £200 a household. Advertisement Hide Ad Advertisement Hide Ad Energy experts have said Scottish communities having to host landscape-scale developments on their doorstep because of the renewable energy rush are, per unit of power, paying proportionally more than those who do not live near where the power is being generated. A derelict property in the middle of windfarm alley which appeared to have work being done on it | Katharine Hay Campaigners have regularly described this as an injustice and called for better compensation measures, such as cheaper energy prices, or to pause Net Zero-related developments in rural areas altogether until policy is improved. Mark Hodgson, a member of Scotland Against Spin (SAS), a campaign group opposing wind energy policy, said: 'Scottish consumers are paying through the nose for electricity because of the crazed rush to substantially 'decarbonise' the grid by 2030, and rural communities are being damaged by renewables developments which are adding to their electricity bills. 'This is to add insult to injury and is no way to run a 21st century economy's energy needs.' Advertisement Hide Ad Advertisement Hide Ad The curtailment cost analysis, carried out by energy specialist website Wasted Wind, said turbines having to be switched off cost the grid £6m alone on Tuesday this week. Meanwhile, another £10m was paid to gas-fired plants to provide replacement power elsewhere in the system. These figures, plus 2025's overall UK bill of about £518,000,000 in curtailment payments to date, were confirmed by the nationalised National Energy System Operator (NESO), which manages the grid for the UK. NESO said in its own report from 2023/24, balancing costs from curtailment equated to about 4 per cent of consumer bills which amounted to roughly £4 a month. While it did not have figures for the impact on household bills for this year, another report from the organisation showed curtailment costs could potentially reach £6 billion by 2030 which would be passed on to consumers and felt in their electricity bills. Advertisement Hide Ad Advertisement Hide Ad One of Scotland's biggest onshore windfarms, Viking, on mainland Shetland, is one development that has had to be switched off at times due to overcapacity on the gird. Energy giants at SSE have announced the completion of what is expected to be the most productive onshore wind farm in the UK (Picture: SSE/PA Wire) | (Picture: SSE/PA Wire) Reports show in August last year alone, the developer, Scottish and Southern Electricity Networks (SSEN), was paid more than £2m in constraint payments because of the grid reaching over capacity. Residents on the ground have said the turbines are currently standing still despite windy conditions. Frank Hay, of Sustainable Shetland, a campaign group set up to promote social, environmental and economic sustainability on the islands, said: 'As we look at the Viking turbines standing idle in what should be optimal conditions for wind energy the nonsense of constructing windfarms without ensuring that the energy produced can be utilised is painfully obvious. Advertisement Hide Ad Advertisement Hide Ad 'It has led to a scandalous waste of money for constraint payments.' SSEN has previously said ultimately the solution is to invest in more electricity grid infrastructure so that the energy can be transported. The company is investing £20bn by 2030 in transmission infrastructure and has advocated to reform planning and consents to speed up investment and upgrades. Energy experts have said the ball was dropped in terms of keeping up the pace of upgrading electricity grid infrastructure over the last few decades alongside what has been a significant buildout of renewable energy developments. Advertisement Hide Ad Advertisement Hide Ad This underinvestment, they said, has led to capacity constraints at the costs seen today. Researchers in energy policy have said while curtailment costs are being felt in households, renewable energy developments can bring positive changes to the economies of rural communities by bringing in jobs. These include increased employment in construction and jobs created for servicing developments, including windfarms. The industrialisation of some areas is also favoured by some parties for providing jobs in areas where people have otherwise had to travel to the Central Belt for work. Advertisement Hide Ad Advertisement Hide Ad Campaigners in Scotland, however, have pushed back, arguing the industrial developments will threaten the environment and one of its main industries: tourism. Campaigners living in rural Scotland, including the Highlands, have repeatedly raised concern over the renewable energy rush and its impact on the landscape and subsequently Scotland's tourism industry |Activists argue the Net Zero push will damage the very reasons the country is on the international stage - that being for its landscape. A letter, signed by more than 40 different campaign groups across Scotland from Skye to Dumfries and Galloway has been written to First Minister John Swinney calling for a freeze on further windfarm developments and related projects over what some campaigners have previously described as 'a wild west approach' in the race to reach Net Zero goals. In response to the increasing curtailment costs, a UK government spokesperson said: 'The National Energy System Operator's independent report shows we can achieve clean power by 2030 with cheaper electricity, even factoring in constraint payments, and a more secure energy system for Britain. Advertisement Hide Ad Advertisement Hide Ad 'Through our Clean Power Action Plan, we will work with industry to rewire Britain, upgrade our outdated infrastructure to get renewable electricity on the grid, and minimise constraint payments." Energy statistics released by the Scottish Government in March this year showed that by the end of December last year, there were 904 projects with an estimated capacity of 65.4 GW in the planning pipeline in Scotland. Of these, 640 were renewable electricity generation projects with an estimated capacity of 37.5 GW and 264 were electricity storage projects with an estimated capacity of 27.9 GW. The report said Scotland continues to generate more electricity than it needs.
