Connect with us

Business

UK government abandons energy ‘zonal pricing’ plan | Energy bills

Published

on


The government has abandoned plans for “zonal pricing” that would have charged electricity users in the south-east of England more than those in Scotland, saying that a single national price would help ensure the system was “fair, affordable, secure and efficient”.

The energy secretary, Ed Miliband, had been considering proposals for zonal pricing that would mean different parts of England, Wales and Scotland being charged different rates for their electricity, based on local supply and demand.

It was intended to encourage heavy electricity users to relocate to areas that have more generation such as Scotland, where windfarms sometimes have to switch off because of a lack of demand.

But senior officials said earlier this week that the scheme could put off investors and make it more difficult to build renewables.

The energy department confirmed on Thursday it was abandoning the proposal after a lengthy consultation that had been running since 2022.

Miliband said: “Building clean power at pace and scale is the only way to get Britain off the rollercoaster of fossil fuel markets and protect families and businesses for good.

“As we embark on this new era of clean electricity, a reformed system of national pricing is the best way to deliver an electricity system that is fairer, more affordable, and more secure, at less risk to vital investment in clean energy than other alternatives.

“Our package of reforms will protect consumers and secure investment as we drive to deliver our clean power mission through our plan for change.”

Instead, ministers said new proposals would let the government take more responsibility for planning the system and determining where clean energy infrastructure was located, based on what is needed for the long term.

The long-awaited decision ends the bitter feud within the industry between those who believe that zonal energy pricing could make the market more efficient and those who argue the disruption would raise costs and jeopardise the UK plan to create a virtually carbon-free power sector by the end of the decade.

The energy regulator, Ofgem, welcomed the decision and said it brought “certainty and confidence for the future of the energy system”.

It added it would work with the government “to build a decarbonised system which will bring stability and protect consumers from international volatility and the rollercoaster effect that has on bills. We’ll be setting out our thinking on network charging reforms shortly”.

However, Ofgem’s chief executive, Jonathan Brearley, had previously spoken out in favour of zonal pricing.

Those who backed a move to zonal pricing included Greg Jackson, the founder and boss of Octopus Energy, whereas some of Britain’s biggest renewable energy companies including SSE, Scottish Power and RWE opposed the idea.

Responding to the government’s decision, a spokesperson for Octopus said: “We must reverse the spiralling costs of electricity, so we respectfully disagree with this announcement. The UK should have followed the majority of the OECD (Organisation for Economic Co-operation and Development) and put consumer interests ahead of producers.

skip past newsletter promotion

“The alternative to zonal pricing – reformed national pricing – is nonexistent. There are no published models, no cost-benefit analysis and no hope it’ll tackle the precipitously rising costs of the system.”

However, SSE said the move provided “much-needed policy clarity” for investors and consumers.

Chris O’Shea, the chief executive of British Gas’s owner, Centrica, said it was a “commonsense decision” and that the “theoretical benefits never stacked up against the real-world risks” in potential zonal pricing.

Under the dropped proposals, zones with an abundance of electricity generation relative to local demand – such as Scotland – would have had lower market prices. But densely populated areas in the south-east of England would have run the risk of higher energy bills due to higher market costs.

Those on both sides of the debate paid consultants to produce detailed analysis to serve as evidence, and engaged in rigorous lobbying to put forward their point of view.

Ana Musat, executive director of policy at RenewableUK, said: “This decision is good news for billpayers, in part because the prices set in the government’s auctions for clean power contracts will be lower than they would have been under the costly zonal pricing regime.

“It will give confidence to private investors that the UK is one of the best markets in the world to build new renewable energy projects, by ending the uncertainty that zonal pricing would have caused.”



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

How AI Can Support Healthcare Supply Chains With Predictive Tools

Published

on


Archie Mayani is the chief product officer at GHX, a global supply chain company that uses data and cloud-based technologies to connect healthcare providers like hospital systems and their suppliers.

For more than 20 years, Mayani has worked on clinical and supply-chain health technologies at companies like Change Healthcare and United Health Group.

At GHX, Mayani works to ensure that the company develops technology that can help hospitals procure patient supplies — like implants and IV fluids — as seamlessly as possible. By using AI-powered technologies that can anticipate supply chain disruptions, prioritize them in order of most critical, and identify substitutions, hospitals can be better equipped to provide effective patient care.

Business Insider interviewed Mayani about what sets healthcare apart from other industries when it comes to AI implementation.

This interview has been edited for length and clarity.

Rachel Somerstein: How is healthcare unique as an industry, particularly when we think about the integration of AI?

Archie Mayani: I’m based in Silicon Valley, where everybody wants to fail fast and move forward. But healthcare is very different from other sectors using AI.

When you are building a dating app and your AI hallucinates, it’s kind of funny and makes a great first-date story. When you have a patient on the operating table and you don’t have the right supplies delivered at the right time, it’s scary.

Can you talk about the goals of AI implementation in healthcare supply chain management?

Healthcare is about patient safety and how you use technologies responsibly, always putting the patient in the center. When we think about supply chain management, it’s almost like an invisible operating system in this shared ecosystem of patient care and delivery.

GHX’s mission with AI implementation revolves around delivering the right supplies at the right time to improve the quality of care and make it more affordable.

How did you arrive where you are now?

We have been leveraging AI and machine learning for the last 15 years. A lot of our work during the pandemic involved making supply disruptions more visible, with the goal of making supply chains more resilient and proactive.

One of the most important cases we thought about, coming fresh off the pandemic, was, “Can we look at backorder anticipation?”

It doesn’t matter what the cause is — it can be geopolitical conflict or meteorological tragedies. It could be that a trailer was dislodged and now we’ve lost the supplies on the freeway. But if we can anticipate back orders, we can anticipate disruption.

If the system is intelligent enough, it could recommend nearby substitutes within your distributed area. We started there, on a path of, “We’re going to build this machine-learning model that’s going to be intelligent, anticipate these disruptions, and make substitution recommendations.”

Where is AI in supply chain management working best right now?

We have an agile development approach at GHX, where our customers give us live feedback. We had an “aha” moment from our customers: They said, “This is absolutely what we’ve asked for for the past 20 years. You are starting to predict all of these disruptions, but the disruption of a Band-Aid is not the same as a disruption of IV fluid.”

They asked, “Can you make this technology even more intelligent for what I need, depending on where I think my most critical risks are and what kind of care delivery is most important to my organization?”

So we came up with the idea of clinical sensitivity and a confidence score, essentially to validate whether disruptions are clinically relevant to specific customers.

That was one of the things that changed the trajectory of our AI implementation road map: Just because we can deliver insights doesn’t make them useful; they have to be predictive and personalized.

What does the future of AI in healthcare supply chain management look like?

Since healthcare is different and unique from other industries, our approach is to automate workflows as much as possible using agents while keeping a human in the loop. Once the customer feels confident, we can start fully abstracting those workflows so that AI agents are handling them entirely.

The other place gaining traction is copilot environments. For example, we have a product called the perfect order dashboard, which marries data insights. A customer may say, “Show me the view of my world, of where the supplies are, of where I’m doing an exceptional job with my suppliers getting those supplies on time, making sure that the orders and invoices are paid on time, and show me all of the discrepancies.” Still, that’s not enough.

The copilot allows you to tell a story with that data, very similar to a ChatGPT-like experience: “Show me the top three defaulting suppliers not delivering supplies on time.”

Once you have those supplier lists generated, you can say, “Send an email to XYZ supplier, making sure we have a quarterly business review scheduled, and please attach the perfect order dashboard view showing the last quarter’s trend.”

It might seem small, but it’s a huge value-add. It used to take maybe three or four hours to understand the data, extract insights, and drive follow-up actions and decisions. Now, it takes minutes.

What advice do you have for others in your position or who hope to be?

The hardest or most useful thing you can do is to say no.

In healthcare, everything is urgent — and it truly is. But not everything matters equally. So, the ability to say no to the right things and ensure that you’re focusing on the highest value-added items for your customers is critical when you’re in healthcare.

Big Tech, or even a smaller tech startup, can innovate as research labs and fail. We don’t have that option. So understanding what matters now, what will matter in 10 years, and finding the right balance to focus on the right innovations, becomes critical.

It’s about having the right data, the right governance and mechanisms, and always thinking about performance, security, and privacy. It’s also about making responsible choices on where to invest your energy, so that you’re ultimately not working on the sexiest, coolest, or hardest things.

It comes back to the patient: making care affordable and of the highest quality possible.





Source link

Continue Reading

Business

The AI Message From Silicon Valley: ‘No One’s Slowing Down’

Published

on


After a busy day at the Goldman Sachs tech conference earlier this week, I sat down with the firm’s internet analyst Eric Sheridan to take stock. His main takeaway: “No one’s slowing down.”

Despite spending massively on AI infrastructure, almost every tech exec told him AI demand is outstripping their ability to supply intelligence, he said.

This was summed up by executives at CoreWeave, which builds and runs AI data centers. “Unrelenting,” they said, while noting there’s been yet another upward inflection in AI demand in the past four to six weeks.

During the dot-com boom of the late ’90s, internet infrastructure was built out massively based on eyeballs — just the fact that people were looking at websites. This time, there’s actual revenue from consumers and companies paying for AI services, Sheridan noted.

The conference headliner was OpenAI CFO Sarah Friar. The room was packed for her talk. Even the overflow room was full, with many analysts and investors sitting on the floor. I’ve never seen so many loafers and crossed legs at the same time.


OpenAI CFO Sarah Friar

OpenAI CFO Sarah Friar

Mike Segar/REUTERS



OpenAI is on course to generate $13 billion in revenue this year, but the company is “still massively compute constrained,” she said. That leads to tough decisions such as holding back new products, running some services intentionally slower, and having to choose which research projects get resources and which ones must wait.

This situation is also creating “strange bedfellows,” Sheridan told me. At the Goldman conference, Meta CFO Susan Li said the tech giant is working with Google, an arch rival. Friar mentioned OpenAI is also tapping Google’s cloud for capacity. Those two are going to the mat over the AI search market.

One dark cloud

The only dark cloud at the Goldman conference: Software could be disrupted by AI and that’s weighing on shares of SaaS providers. Friar was asked about this and she didn’t hold back.

In the new world of autonomous software development, it’s now easier to create bespoke software in-house. “Why wouldn’t I code the kind of software that is exactly what OpenAI needs,” the CFO said. “That is going to change the whole face of how software is developed.”

I felt a shudder ripple across the room as attendees considered how much of the world AI might consume in the coming years.

“Short everything,” someone muttered beside me as the audience got up to leave. Analysts laughed nervously as we filed out in a long, slow line.

Sign up for BI’s Tech Memo newsletter here. Reach out to me via email at abarr@businessinsider.com.





Source link

Continue Reading

Business

IABHK C25 AI Digital Marketing Event Focuses on Intelligent Innovation

Published

on


Artificial Intelligence (AI) is transforming our lives and business models at an unprecedented pace. A recent local bank survey shows that over 70% of customers use generative AI daily, and businesses are actively embracing AI to enhance customer experiences, optimise data analytics, and explore new avenues for growth. As Hong Kong’s largest digital marketing community, IAB Hong Kong announces that its annual flagship event “C25” will take place on 24 September 2025 at the Hong Kong Convention and Exhibition Centre (HKCEC), bringing together industry elites from Hong Kong and around the world to explore the latest trends in AI within digital marketing and seize future growth opportunities.

Under the theme “AI in Action”, C25 2025 will showcase real-world AI business applications through keynote speeches, expert panels, and practical case studies. Attendees will gain actionable insights into how AI is enhancing customer engagement, boosting efficiency, and unlocking fresh growth opportunities in Hong Kong and beyond.

A key highlight this year is the launch of the inaugural “Agentic AI Challenge”, a groundbreaking competition designed to fast-track the industry’s move from theory to practice. Participants will develop advanced AI agent solutions capable of autonomously planning, executing, and optimising complex tasks—accelerating local adoption of automation and AI-driven marketing strategies.

C25 Organising Committee Chair, Tania Lau, “Agentic AI has transcended its role as a supporting tool to become a transformative force, redefining how businesses operate and roles are shaped. In Hong Kong, we’re witnessing workflows revolutionized, roles reimagined, and new opportunities unfolding at an unprecedented pace. This evolution doesn’t replace human creativity—it elevates it, empowering marketers to achieve more, drive groundbreaking innovation, and set new benchmarks for our industry.”

Prominent Speaker Panel Leading Industry Discussions

C25 features a world-class lineup of over 50 industry leaders and tech innovators, including marquee names such as Amazon Web Services, Google, Meta, WPP, Microsoft and Baidu. Attendees will access insights and witness practical expertise through 30+ dynamic keynotes, panels, and live case studies, focusing on the future of digital marketing and the business impact of AI.

The conference is structured across four action-driven tracks:

  • AI HORIZONS – Big-picture trends and future-shaping innovations, including keynotes from top AI chiefs on search, disruptive applications, and practical deployment.
  • AI DRIVERS – Sector-focused strategies with deep dives into finance, retail, travel, and global video content—showcasing how AI delivers personalisation, efficiency, and overseas expansion.
  • AI ACCELERATORS – Breakthroughs in health, entertainment, and culturally-inspired marketing, illustrating how AI is transforming industry practices and audience experiences.
  • AI CATALYSTS – Innovative solutions for smarter analytics, omni-channel ad automation, and AI-enabled influencer strategies that maximise business effectiveness.

New Features: “Agentic AI Challenge” and “VIP Speaker Lounge”

This year’s C25 introduces the first-ever Agentic AI Challenge, where participants will design innovative AI agent solutions capable of understanding, planning, and executing complex tasks. The competition is structured in two phases:

  • Proposal Submission – Contestants must submit their concepts by the designated deadline. A panel of judges, including university professors and experts from Google, Adobe, Microsoft, HKT, Cherrypicks, and Votee, will shortlist up to 10 finalists.
  • Live Presentations – Finalists will present their solutions during the afternoon of C25. An expert jury will evaluate and award the Champion, 1st Runner-up, 2nd Runner-up, and Merit prizes.

Winners will not only receive cash prizes but also industry accreditation, signalling both technical excellence and strategic creativity. Designed to merge innovation with practical application, the Challenge aims to encourage the local industry to move beyond theory and embrace AI-powered marketing execution.

More details: C25 Agentic AI Challenge

VIP Speaker Lounge: Driving Deeper Industry Conversations

C25 2025 also debuts the VIP Speaker Lounge, a premium and exclusive networking platform designed to foster collaboration across industries. The Lounge will bring together senior leaders from brand management, advertising, technology startups, and academia for in-depth dialogue, interactive discussions, and small-group forums. By encouraging knowledge exchange and thought leadership, the Lounge will aim to expand networks, spark partnerships, and accelerate the healthy development of Hong Kong’s AI marketing ecosystem.

Exhibition Zone: Experience Next-Gen AI AdTech

The C25 Exhibition Zone brings together advanced AI and advertising technology solutions from top local and global providers, including intelligent SEO tools, AI-powered analytics platforms, and digital transformation services. Attendees can try out these innovative platforms firsthand, explore their technical advantages, and connect with solution experts for tailored advice. Throughout the event, AI-driven real-time translation will ensure seamless communication, fostering technology-business integration and active industry collaboration.



Source link

Continue Reading

Trending