Energy system modernisation plans unveiled

Energy system modernisation plans unveiled

A much greater role for battery storage is a central part of plans unveiled by the Government and Ofgem to give businesses and homes more control over their energy.

Ministers and the regulator said the innovative plans will “transform how homes and businesses store and use energy” and will deliver a smarter, more flexible energy system by removing barriers to smart and battery technology, reducing costs for consumers.

Key moves aimed at enabling faster rollout of storage include moves to...

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Energy intensives exemption pushed back to 2018

Moves to exempt energy intensive industries (EII) from paying towards the cost of the Renewables Obligation (RO) have been delayed.

The Department for Business, Energy & Industrial Strategy (BEIS) confirmed that the RO exemption won’t be introduced until 1 January 2018 at the earliest.

Plans to exempt EIIs from the costs of the Contracts for Difference (CfD) and Feed-in Tariff (FiT) are also underway but these are not included in the latest update from BEIS.

The exclusions had been due...

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World on course to miss Paris climate change targets

A new report from asset manager Schroders has warned that global temperatures are on course to rise by up to 4C, twice as much as safe levels laid out under the Paris Agreement.

The investment firm has developed a dashboard that measures current progress towards tackling climate change and predicts the outcome if the current path is followed.

If current political pledges are carried out then the temperature rise could be limited to 2.8C, but current actual progress puts the figure at 3.6C.

...

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UK Power Networks unveils transformation plan

Great Britain’s largest electricity distributor, UK Power Networks, has launched a consultation on its strategy for a future electricity grid.

The company has outlined how it plans to switch from being a Distribution Network Operator (DNO) to a Distribution System Operator (DSO).

Basil Scarsella, Chief Executive at UK Power Networks, said: “We are on the verge of a change as significant for electricity as the advent of broadband was for telecommunications.

“We are working with policy makers, ...

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Just 20 nations responsible for over 90% of energy use

More than 90% of the world’s energy is used by only 20 countries, according to a report by price comparison website Go Compare.

China is the world’s biggest energy consumer, using 4,900TWh each year, or 24% of global consumption.

The United States is in second place, consuming 3,800TWh or 19%. India, which took third spot, only uses 5%.

UK in top 20

The UK was ranked as the world’s 11th largest energy consumer, using 312TWh, which is six times higher per square kilometre than the average...

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Hinkley Point cost to consumers ‘could rise to £50bn’

The cost to consumers of supporting the construction and operation of the Hinkley Point C nuclear power station in Somerset could hit £50 billion, according to UK Government figures.

The total would be eight times higher than the estimated cost given in 2013.

French power producer EDF Energy is guaranteed a strike price of £92.50/MWh generated by Hinkley.

In 2013, the UK Government estimated that it would have to make top-up payments to EDF of about £6bn over the life of the station, but...

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Sector Round Up 25th July 2017

Renewable fund passes £1bn mark

Blackrock, the world’s largest asset manager, has raised £1.1 billion to invest in renewable energy projects in the UK, making it the largest fund in the country.

A further £475 million was added to the fund in the latest round, with pensions funds investing heavily.
More than £600m from the fund has already been invested in 40 wind and solar projects.

> Read about Blackrock's previous renewables deal

 

Offshore wind farm back on track after appeal...

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Ofgem warns of tougher network price controls ahead

Energy networks should prepare for tougher price controls from 2021 to maintain good value for consumers, Ofgem has warned.

The regulator said the move was in line with other utility regulators, as it said there was clear evidence pointing towards the cost of investment required for networks being significantly lower.

Ofgem said price controls also needed to evolve to meet the “rapidly changing and uncertain needs of an energy system” where changes including renewable generation growing from...

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Major milestone for 100% renewables initiative

An initiative aimed at encouraging major companies to commit to sourcing 100% renewables has reached a milestone of 100 members.

The Climate Group's RE100 initiative achieved the goal as AkzoNobel, AXA, Burberry and Carlsberg Group joined.

RE100 members have a total revenue of US$2.5 trillion and operate in a diverse range of sectors – from Information Technology to automobile manufacturing.

Together, they are creating around 146 terawatt-hours (TWh) in demand for renewable electricity...

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Electric vehicles boom could see electricity demand surge

Major growth in electric vehicles could see electricity demand jump by up to 18GW by 2050 in the UK, according to the National Grid’s latest forecasts.

Electricity peak demand could be as high as 85GW in 2050, compared to around 60GW currently, driven by a number of factors including increase in electric vehicles.

The network operator’s latest Future Energy Scenarios report said there may be as many as nine million electric vehicles on roads by 2030, up from around 90,000 today.

It said car...

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