Delays to renewables investment ‘could cost £2.6bn’

Delays to renewables investment ‘could cost £2.6bn’

Consumers could have to pay an extra £2.6 billion for energy by 2025 if the UK Government continues to hold back the ability for renewables to bid for contracts under the CfD auction system, according to a new report.

The Green Alliance environmental think tank said the saving could be made compared to the cost of building more gas-fired power stations.

Its report said 65TWh of renewable power was ready to be developed, which could meet 20% of the UK’s electricity consumption and could be...

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Business need to invest more in energy managers to hit carbon targets

The role of the energy manager will change by 2030 and more investment is needed in training to ensure they help businesses deal with a changing market, according to a new report.

Energy consultancy Inenco said energy managers had gaps in their skills and the technology available to them.

By 2030, Inenco predicted that today’s energy manager will have evolved into the “future utilities manager” – a “senior-level, digitally savvy data scientist” who will be responsible for making key strategic ...

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More businesses sign up to 100% green energy

Breakfast cereal maker Kellogg, cosmetics firm Estee Lauder and Singapore-based DBS Bank are among the latest companies to commit to sourcing all their electricity from renewable sources.

Along with food company Clif Bar, the businesses have signed-up to the RE100 campaign, which is run by The Climate Group and carbon monitoring charity CDP.

Together, the 106 companies signed up to the campaign have taken global demand for renewables to around 150TWh a year.

The organisations’ next “EV100”...

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UK leading G20 in clean power growth

The UK is decarbonising its economy faster than its G20 rivals, according to new figures.

Accountancy firm PwC’s Low Carbon Economy Index (LCEI) found that the carbon intensity of the UK economy fell by 7.7% in 2016.

This fall was attributed to a decline in coal consumption, improved energy efficiency and moderate economic growth.

Britain’s decline was almost three times the global average, which stood at 2.6%.

Leading the ‘low-carbon revolution’

The UK has outperformed China, the United...

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Top firms fail to quantify sustainability achievements

Consumer goods makers and telecommunications companies are missing out on the chance to build investor confidence by not reporting on the financial benefits of their strong environmental performance, a pair of reports has said.

Carbon disclosure charity CDP, management consultancy Accenture and Hermes Investment Management said 42% of top brands were embracing environmental best practice but were failing to quantify the financial benefits.

Justin Keeble, managing director for Accenture...

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Ofgem confirms £200m cut to network allowances

Electricity distribution network operators (DNOs) will have £200 million less to spend in the next Revenue=incentives+innovation+outputs (RIIO) period after Ofgem confirmed cuts to their allowances.

The regulator said electricity demand during the RIIO period from 2010 to 2015 had been lower than expected and so DNOs spent less than expected reinforcing their grids.

This has allowed the watchdog to cut the allowances for the 2015-2023 RIIO period by £74m across some of the power lines...

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Sector Round Up - 19/09/2017

World’s first tidal-powered hydrogen

The European Marine Energy Centre (EMEC) on Orkney has produced the first hydrogen from tidal energy.

Electricity generated by Scotrenewables’ SR2000 and Tocardo’s TFS and T2 turbines was fed into an electrolyser at EMEC’s onshore station near its test site at the Fall of Warness, Eday.

Neil Kermode, Managing Director of EMEC, said: “Whilst the initial driver behind buying an electrolyser was to provide a storage solution to circumvent local grid...

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CfD auction marks milestone for UK renewables

A new era for renewable energy in the UK has been hailed after the latest Contract for Difference (CfD) auction results were announced.

Eleven new energy projects were awarded subsidy worth up to £176m per year in the auction for renewable technologies, including three UK offshore wind projects.

Contracts were awarded to offshore projects at a strike price as low as £57.50 per MWh, a 50% price drop over the previous round of CfD allocations in 2015.

The UK Government said the projects, which ...

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Energy efficiency could save economy £7.5bn

Energy efficient improvements to home heating, insulation, lighting and appliances could reduce the energy consumed in UK households each year by a quarter, according to researchers.

In total the savings could knock £270 off the average household energy bill of £1,100, a saving that is equivalent to the output of six nuclear power stations the size of Hinkley Point C.

The report, compiled by the UK Energy Research Centre and the University of Sussex Centre on Innovation and Energy Demand,...

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Managed decline on fossil fuels urged by global groups

More than 200 global organisations have joined forces to call for a rapid transition to a low carbon world.

Under the Lofoten Declaration, the organisations argue it is the “urgent responsibility and moral obligation” of fossil fuel producers to take the lead in managing the decline of existing production.

The agreement, named after an archipelago in Norway where drilling by the oil industry has been successfully blocked by environmental groups, calls for "unprecedented action to avoid the...

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