Innovative Energy Consultancy Ltd
Innovative Energy Consultancy Ltd

Year: 2016

December gas and power market update

Gas market trends What’s been happening? Seasonal gas prices decreased 1.6% on average, with a fall in oil prices. Seasonal gas prices were higher than their levels last year. In November, day-ahead gas gained 12.4%, after experiencing the largest monthly gain since at least 2012 last month. On Thursday...

Key announcements on future power mix

The government has announced plans to “upgrade” the UK’s energy infrastructure and incentivise the investment needed to support the nation’s low-carbon transition. Coal closure confirmed A consultation, issued on 9 November, sought views on the best approach to ensuring that coal-fired electricity generation is phased out of the electricity...

Highest rise in day-ahead peak power since 2011

Day-ahead peak power soared by 36.9% to average £91.5/MWh in November, the highest monthly rise since at least 2011. Near-term baseload and peak power contracts have been largely supported by continued French nuclear supply fears. Day-ahead baseload power jumped 16.7% to average £66.4/MWh. On Monday 7 November, the contract...

Business energy tax – what you need to know

You may be aware that the Government has announced its plans to abolish the Carbon Reduction Commitment Scheme (CRC) from April 2019. It is part of an overall plan to simplify the regulatory system whilst helping the UK to achieve its targets to reduce carbon emissions. The CRC Scheme...

November gas and power market update

Gas market trends What’s been happening? All seasonal gas prices increased in October. The annual April 17 gas contract climbed 13.9% to 45.3p/th. Summer 17 gas experienced the largest gain of 14.9% to average 42.5p/th. Day-ahead gas soared 50.6% higher, the largest monthly gain since at least 2012, to...

National Grid Confirms Energy Security

System operator National Grid has confirmed that the chances of blackouts during the coming winter have fallen. The company said that it expected the UK to have a capacity margin of 6.6% this winter, which is an improvement on its projection of 5.5% made earlier in the summer. Higher...

Day-ahead gas up 50.6% in October

In October, day-ahead gas soared 50.6% higher – the largest monthly gain since at least 2012 – to average 43.1p/th. On Wednesday 26 October day-ahead gas reached 48.0p/th, the highest price since April 2015, as gas demand for power generation and heating was expected to rise significantly the following...

Managing your business energy tax

While we appreciate that to most people business energy tax appears to be a rather dry subject, we’re always surprised at the number of companies which are not proactive in managing their charges. It is likely your finance team manages your corporation tax affairs in fine detail, it’s common for...

October gas and power market update

Gas market trends What’s been happening? All seasonal gas prices decreased in September. The annual October 16 gas contract lost 4.3% to 38.2p/th. Winter 16 gas experienced the largest drop (of 5.6%) to average 39.6p/th. Summer 17 gas decreased 3.1% to 36.8p/th. Day-ahead gas moved 10.2% lower to average...

Go-ahead for new power station

The government gave its final approval for the Hinkley Point C nuclear power project on 15 September, after reaching a revised agreement with the plant’s developer EDF. The contract – and therefore final confirmation that the project will be built – was signed two weeks later. Supply security The...