Following the increases in household energy bills announced by the big six power companies today, ILI Group PLC has responded that Pumped Storage Hydro (PSH) can save at least £100 on every household’s energy bill, reduce power price fluctuations for customers and offset millions of tons of CO2 emissions every year.
There is now over 4.2 GW of PSH in the UK pipeline and this technology, working with renewables such as solar and wind, is a perfect fit in delivering the next generation of clean, reliable, affordable and predictably priced energy.
In fact, the ILI Group have a 450 MW PSH project at an advanced stage of development near Loch Ness in Scotland called Red John which will be able to power almost half-a-million homes.
“By allowing us to store more clean energy generated from renewable sources for when we need it most, Red John stands to save one million tonnes of CO2 every year – truly unlocking the potential of wind and solar to decarbonise our energy systems” said Mark Wilson, CEO of ILI Energy. “It’s a pivotal time for the UK Government and how we proceed with our energy mix. It is clear that the next generation has a real passion for our world, which is great to watch with the protests at Parliament. I’m speaking tomorrow at a local primary school to my daughter’s class and I expect their knowledge to be advanced in this subject.”
PSH is a well-proven technology and new projects are being developed successfully alongside battery storage in the US, Spain and Australia.
Intelligent Land Investments (ILI) Group PLC is a company whose main aim is to bring over 1.5 GW of energy storage to the UK electricity market via three new pump storage hydro installations in Scotland.