Innovative Energy Consultancy Ltd
Innovative Energy Consultancy Ltd

Year: 2019

Business Energy News

What’s happening in the wider world of business energy?  Here are some key current headlines. The world’s biggest fossil fuel producer, Saudi Aramco, was named as the most valuable listed company in history with a market value of £1.4tn. The valuation makes Aramco more valuable than Apple and Facebook...

Record fall in electricity production from coal

A new report published by Carbon Brief says this year will see the largest fall in electricity production from coal on record. It is projected to drop by 3% – which is a fall of 300 terawatt hours and raises the prospect of a slowing of global CO2 emissions...

December Markets Update

Gas Gas prices ended higher at the end of November. High levels of flows of LNG and hold-ups with Norwegian imports affected prices, as did above normal seasonal temperatures. Day-ahead closed the month at 42.25p/th which is higher than normal. Month-ahead increased to 42.55p/th. Electricity The electricity markets were...

Energy UK plan for carbon technologies

“While increased climate risks predominantly fall on the most vulnerable parts of society and the planet, it is mainly the developed countries that can make all the difference through the neutralisation of greenhouse gases.” This is according to a report by Energy UK. The organisation called on the government...

UK’s first deep coal mine to go ahead

The UK’s first deep coal mine in decades is to be built by West Cumbria Mining near Whitehaven. Woodhouse Colliery would extract coking coal from the seabed off St Bees, creating potentially hundreds of jobs.  The company leading the development says it hopes to begin work on the site...

November Markets Update

Gas Gas prices dropped at the start of the month as a result of increased supply. Day-ahead closed at the end of October at 28.25p/th. Month-ahead dropped by 5.4%, settling at 40p/th at the end of October but increasing to 42.65p/th at the start of November.   Electricity Day-ahead...

October Markets Update

Gas market trends Natural gas prices decreased by 2% on average at the end of September, though began to recover at the start of October, partly as a result of positive renewables generation. Day-ahead closed the month of September at 24.80p/th, that is 2.3% lower, week-on-week, while month-ahead decreased...

Should Britain invest more in floating wind turbines?

The floating wind turbine is the ‘next frontier for wind power’, according to a BBC report which stated that Scotland is currently the world leader in this technology, with 56% of the world’s capacity. It’s estimated that if floating wind power is expanded as currently planned, there could be...

New North Sea oil field begins production

A large new oil field in the North Sea is estimated to benefit the Norwegian government by £80bn over 50 years. Named the Johan Sverdrup after the man who ‘fathered modern Norwegian parliamentary government in 1880s’, the oil field was discovered in 2010 and will deliver 660,000 barrels per...

September Markets Update

Gas market trends All seasonal gas contracts fell in August, down 2.3% on average. Winter 19 gas was 5.5% lower with an average of 48.7p/th. Summer 20 gas was down 3.0% to average 44.7p/th. The Annual October 19 gas contract dropped 4.3% to average 46.7p/th. Day-ahead gas fell 5.6%...