UK flexibility market forecast to hit £6bn

UK flexibility market forecast to hit £6bn

Decarbonising, decentralising and digitising the power market in Great Britain will create a £6 billion flexibility market by 2030, according to a new report.

Aurora Energy Research calculated that around 13GW of flexible and distributed generation capacity will be commissioned, including gas reciprocating engines and batteries.

The report predicted that the balancing and ancillary power markets are set to double in size between now and 2030 to around £2bn per year, largely due to the roll-out...

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UK’s largest companies pledge hundreds of millions to tackle climate change

Around 30 of the UK’s largest companies, including HSBC and the John Lewis Partnership, have unveiled plans to help cut emissions as part of the UK Government’s first Green Week GB campaign.

The measures include switching to 100% renewables, installing solar panels on office roofs and overhauling fleets of diesel trucks.

Energy and Clean Growth Minister Claire Perry said business had a key role to play in helping tackle climate change.

“Governments cannot confront this unprecedented global...

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Economy-wide Carbon Tax urged in budget

Chancellor Philip Hammond should use this autumn’s Budget to introduce a carbon tax covering the whole economy, according to the Policy Exchange think tank.

Its proposal has received backing from former Chancellor Lord Darling and ex-Tory leader Lord Howard.

The think tank noted that Energy Minister Claire Parry has committed the UK to using some form of carbon pricing post-Brexit.

Options include introducing an independent carbon tax or remaining in the European Union Emissions Trading ...

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Fewer than two thirds of businesses have emissions targets

The majority of British businesses has no specific target for reducing company carbon emissions, according to research by polling firm YouGov.

While 61% of companies had no plan in place, 73% claimed sustainability was “very important” to their brand.

Some 45% of respondents with energy bills in excess of £2 million rated their buildings as “ok or poor” in terms of their energy efficiency.

The findings were published to accompany a white paper by waste management firm Veolia.

‘Yawning gap’

Nick ...

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Market share of Big Six falls to new low

A quarter of customers now buy gas or electricity from suppliers outside the “big six” according to the latest figures from the energy regulator.

Ofgem’s second “State of the Energy Market” report found that the six largest suppliers’ market share has fallen to a record low of 75% for gas and 76% for electricity.

Combined profits for the big six have fallen for the first time since 2014, dropping by 10% to £900 million.

The watchdog’s research also found that the carbon price on fossil...

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Warning over community renewables future

Ending the export tariff that pays small-scale generators to sell renewable energy to the grid threats community-owned projects, according to export.

Community Energy England and the Solar Trade Association have said that growth of the sector will stall without the financial support.

The #Fair4Solar coalition claims that axing the payment will mean that small-scale rooftop solar will be subsidising large companies by providing free electricity to the grid.

Ministers have been consulting on...

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16/10/2018 - Sector Round-Up

ScottishPower sells £702m generation portfolio to Drax

ScottishPower has struck a £702m deal to sell a number of generation projects to power firm Drax in a move to focus on wind power.

Under the deal agreed with the Glasgow-based utility’s Spanish owner Iberdrola, Drax will buy sites including the Cruachan pumped storage hydro station, run-of-river hydro locations at Galloway and Lanark (126MW) and a biomass-from-waste facility at Daldowie.

The portfolio also includes four gas turbine sites.

...

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Huge shift to renewables urged to avoid catastrophic climate damage

A dramatic shift to renewable energy will be needed in the years ahead to avoid catastrophic climate change damage, according to a stark report from leading scientists.

The report by the Intergovernmental Panel on Climate Change (IPCC) looks at the prospects of limiting global warming of 1.5C and warns achieving that target will require changes in all aspects of society.

Professor Jim Skea of Imperial College London, who co-chairs the IPCC, said: “Limiting warming to 1.5C is possible within the ...

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Advice from climate change experts ‘under threat’ from UK Government

A lack of funding and delays in recruiting experts is putting the work of the Committee on Climate Change (CCC) under threat, according to academics.

The London School of Economics (LSE) said that the CCC’s work could suffer due to a lack of support from the UK Government.

The CCC was set up by the 2008 Climate Change Act to offer independent advice to policymakers.

The LSE praised the committee for having “made a material difference to the way climate policy is conducted”, including...

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CfDs ‘costing less than expected’

The Treasury is paying less than it expected for renewable energy, according to the Energy & Climate Intelligence Unit (ECIU).

Under the UK Government’s preferred Contracts for Difference (CfDs) mechanism, renewable energy generators receive a top-up payment from the Treasury if market prices for electricity fall below an agreed strike price.

But the surge in electricity prices has meant ministers have had to pay out 25% less than expected during the current financial year, saving the...

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