Clue: Composer approaching peak, Weller & Co shortly to receive music award (8,7)
Answer: BENJAMIN BRITTEN
Explanation: Definition: Composer
BEN ("peak") + JAM (Paul "Weller & Co") + IN TEN ("shortly") to receive BRIT ("music award"). 
*I originally wondered if I might be misparsing this clue, with IN TEN not indicated in the clue, and thought it might have been an accidental omission in the clue, but Hovis in comment 2 below has put me right.