Blog

What’s been happening in the Gas and Power Markets?

January 2022

Head of Sales Trading, Fanos Shiamishis and Spot Power Trading Analyst, William Lake comment on December’s wholesale market activity. They recap on another month of continued high prices across the forward and spot markets.

Seasonal gas and power prices

We continued to see extreme price volatility over the last month as the Summer-22 seasonal power price increased from £117.25 on 1st December to an in-month record-high of £264/MWh on 22nd December. However, gas prices did reduce,...

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Increased flexibility and accuracy with new smart meters, SMETS2 

As part of the Government’s plans to make the UK 'Smart grid’ cheaper and more efficient, a smart meter roll-out plan is currently underway. With 2nd generation smart meters (SMETS2) becoming available, last summer SmartestEnergy launched a pilot offering for free upgrades to our eligible customers to the latest meter. Kieran Williams, Metering Team Leader, explains the benefits of switching to the newest generation of smart meters allowing customers a hassle-free and accurate supply reading. 

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5 key insights from our new Energy Entrepreneurs: State of the Market Report

In this year’s Energy Entrepreneurs: State of the Market report, we benchmark UK independent renewable generation capacity and explore the role of energy entrepreneurs across the generation, business and transport sectors in the push to net-zero. Here are five key insights from the report, which is now available to download in full or as a quick 5-minute digest.

1.

During 2021, the UK’s renewable energy generation capacity reached 43.78GW, edging up from 43.62GW in 2020, a rise of just 0.4%.
...

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2021 Wrapped

2021 has been a busy year for energy, with record-breaking prices due to surge in global gas demand and the continued strive to net-zero with the eyes of the world on Glasgow as the UK hosted COP26. It's also been a memorable year for SmartestEnergy in the UK and internationally, we look back at the highlights of the last year in our Spotify inspired, ‘2021 Wrapped’ blog.

Net Zero Week Festival

This year we were proud sponsors of Net Zero Week from 17th -23 July. This was a great opportunity...

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Corporate PPAs and Direct Wires: The Future Landscape of Localised Renewable Energy

At the UN Climate Conference, COP26, Chancellor Rishi Sunak opened ‘Finance Day’ with the goal to make the UK the world’s first net-zero financial centre. He unveiled plans to force the largest firms and financial institutions to show how they intend to move their businesses to net zero. A number of businesses have accelerated their journey to net-zero and one-fifth of the world’s largest organisations have set net-zero targets during the COVID-19 pandemic; many will follow suit with the...

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Understanding Science-Based Targets

The pressures for businesses to build their net-zero plans are mounting but how to you set meaningful and measurable targets? Nathan Dad, Head of I&C Supply Sales, explains the importance of setting science-based targets as the first step to deliver the carbon reduction goals for your business.

During COP26’s Finance Day, UK chancellor, Rishi Sunak, outlined a requirement for UK corporations and financial institutions to declare their green plans by 2023. Whilst it’s been encouraging to...

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10 COP26 declarations, pledges and pacts

10 COP26 declarations, pledges and pacts

Last week the UN climate conference, COP26, came to a close with a final agreement that sets the global agenda for the next decade. Throughout the two-week conference in Glasgow, we heard from world leaders as they shared their net-zero action plans. In this blog, we recap on the deals that were made to tackle climate change and create a cleaner, more sustainable planet.

In 2015, the Paris agreement set a 1.5C global ambition for global warming and at ...

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October 2021: Day Ahead minimum prices drop to below £100 for the first-time for baseload in over 10 weeks

Head of Sales Trading, Fanos Shiamishis and Spot Power Trading Analyst, William Lake comment on last month’s forward and spot markets. They recap on the latest updates on Nordstream 2, Gazprom announcements and the first-time the minimum baseload price for Day Ahead N2EX has been below £100 for over 10 weeks.

Seasonal gas and power prices

Summer-22 decreased from £121.03/MWh on the 1st October to the £114/MWh on the 15th October. Continuing a downward trend, Summer-22 closed at £102.69/MWh on ...

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ROC recycle distribution to suppliers complete – what’s next?

Vishnu Aggarwal, Deputy VP Origination and Renewables Trading provides an update on the UK ROC market, following the compliance deadline for the submission of ROCs for 1st April 2020 – 31st March 2021, known as Compliance Period (CP)19.

The total CP19 RO obligation, as published by Ofgem, was 119,090,729 ROCs, down from the 130,183,968 ROCs submitted in CP18, which is predominantly due to the demand destruction throughout the pandemic.

Under the supplier obligation,105,263,447 ROCs submitted...

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Are you ready for Triad season 2021/22?

As we approach the start of Triad season 2021/22, Strategic Account Manager, Mark Cox explains the value of Triad avoidance for energy intensive businesses. With only two more winters available before the TCR comes into play, Mark offers up some suggestions to get your business operations ready by the 1st November to take advantage of cost-saving opportunities.

Back to basics

What are Triads? - Triads are the three highest half hourly periods of demand, 10 days apart, usually between 4pm-7pm...

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