Climate change to put considerable pressure on energy sector

It has been suggested by the World Energy Council that the energy sector will be put under considerable pressure over the coming decades because of climate change. The number of extreme weather events has increased by over 400% from 1980 to 2014, and it is because of statistics such as this that the World Energy Council are warning the energy sector.

A quarter of Europe’s electricity to be powered by wind

The European Wind Energy Association (EWEA) expects a quarter of Europe’s electricity to be generated by wind power by 2030. This is if all member states meet their pledges on climate and energy.

Europe can currently generate 128.8 GW of wind power on a normal wind year which is around 10% of the demand. Over the next 15 years this is expected to increase dramatically with the installation of 66 GW offshore and 254 GW of onshore.

Loan up to £50,000 interest free to buy electric vehicles

The Scottish Government have made a sum of money available for interest free loans for people wanting to make the switch to electric cars. The scheme is called The Electric Vehicle Loan and will allow people in Scotland to borrow up to £50,000 interest free to buy a new electric car. Grants are also available for people in Scotland to buy  electric charging points for their homes.

Wondering how P272 will effect your company's energy bills?

P272 is a mandatory change instigated by OFGEM which will effect all profile classes 5-8 that have Automatic Meter Reading (ARM) installed. When the changes take effect all metres that fall within these profile classes with AMR fitted will be charged using the half hourly data instead of a pre determined price.

This will be implemented by the 1st of April 2017, although some suppliers are campaigning to have that pushed back to avoid their customers having to change their contact mid may through their current arrangements.

National Grid puts supply security as top priority

The National Grid has taken steps towards securing Great Britain’s electricity supplies for this coming winter. The National Grid is the system operator which connects power plants to major substations and is responsible for ensuring that the electricity generated in Great Britain can be spread efficiently throughout England, Scotland and Wales.

Gas and electricity contracts at new lows

Annual gas contracts fell in June after they had initially risen to 47.0p/th due to worries over a production cap in Groningen, which limited the supply. Groningen is Europe’s largest gas field and has imposed an output cap of 30bcm after an EU court ruling. However, this rise was then counter balanced by strong Russian and LNG supplies, eventually pushing down prices. The Greek crisis has also had an effect on gas prices, with the euro weakening against the pound, imports have been a lot cheaper.

UK power prices fall due to hot weather

The UK’s day-ahead prices fell this week due to much higher temperatures than seasonal norms, which increased the amount of electricity generated by solar power. This also caused a drop in peak power demand, which pushed prices even lower. The wholesale cost of electricity is now fast approaching the lows seen in January after a downward trend over the last couple of months.

Energy Secretary confirms power capacity auction

The UK’s Energy Secretary Amber Rudd has confirmed that the government will again hold an auction for power capacity delivery for 2019-2020. This will be the second time this has happened after the Conservative-Lib Dem coalition did the same last year.

The announcement was made after a letter was sent to the national grid by Amber Rudd, outlining the governments plans for the auction. The auction parameters will be published closer to the auction date on the 1st of September.

New national hotline to be launched for reporting power cuts

Ofcom have announced that they will be following the NHS and the Police in introducing a 3 number hotline to report none emergency’s. The service will be available from April 2016 and can be used by people wanting to report a power cut and find out an estimated length of time before the problem is fixed. People will simply have to dial 105 to get in touch with their electricity operator.

Gas and electricity prices fall after strong supply

During May the price of gas and electricity fell despite oil and coal rising. Day-ahead electricity contracts were down from an average of £43.9/MWh in April to £41.9/MWh in May due to an increase in supply and a lower demand than usual. A healthy supply also pushed gas prices down with day-ahead prices falling by 5.6% from April to average 44.2p/th.