Scottish Renewables welcomes offshore wind price increase

Hello and welcome to our daily digest of business, financial and economic news from around Scotland.

1. Scottish Renewables has welcomed plans to increase the amounts offshore wind projects can receive for electricity generation.

The UK government is raising the sums available in next year’s contracts for difference auction, with offshore wind getting as much as £73 per megawatt hour (PMH).

It comes after prices of £44 PMH failed to attract any bidders in September and led to concerns about projects being delayed or cancelled.

Floating offshore wind will be offered prices of up to £176 PMH next year.

Claire Mack, the Scottish Renewables chief executive, said the increases “should go a long way to restoring investor confidence” in the sector.

2. Scottish shoppers are turning their backs on Black Friday, according to research published today by PwC.

The accountancy group found interest in the shopping event, traditionally associated with the Thanksgiving holiday in the United States, is waning and spending expectations are falling.

Only 13 per cent of Scots surveyed said they would definitely buy something while 37 per indicated they had no interest at all. Some 14 per cent said they had previously purchased items but would not be doing so this year.

Susannah Simpson, a partner at PwC Scotland, suggested cost of living pressures are causing many Scots to cut back on festive spending as well as spreading out purchases across more months.

3. Intelligent Growth Solutions has launched a research network to drive innovation in vertical farming.

The Scottish firm, which provides software and growing towers, has brought in academics across four continents with expertise in crop science, forestry, data analytics and engineering experience.

The group aims to look at areas including maximising growing conditions, energy and water reduction, speed breeding and introducing novel crops.

Dundee’s James Hutton Institute is involved alongside Nottingham Trent University, the University of Queensland, Australia, and Germany’s University of Applied Science.

Each member will build an IGS vertical farm on their site to study performance in their environment.

4. Apex Hotels has hired the former senior executive of DC Thomson as its new group finance director.

Mike Watson, 50, spent more than a decade with DC, the publisher of The Beano, including stints as its chief financial officer and chief executive of its media arm.

Watson, a chartered accountant, replaces Carol Nicklin in the role at Apex.

He is one of several recent hires, including Holly Hewlett, who is the group director of marketing.

5. The healthcare software provider Craneware has signalled a growing sales pipeline and further contract wins.

The Aim-listed company said it had had “positive financial and operational performance” since the start of its financial year in July.

The Edinburgh company provides a range of revenue-monitoring and analytics products for hospitals, pharmacies and other healthcare providers in the United States.