Innovative Energy Consultancy Ltd
Innovative Energy Consultancy Ltd

Year: 2019

August Markets Update

Gas market trends Gas supplies were tighter in July as only five LNG tankers arrived at UK terminals. Day-ahead gas prices increased for the first time since September 2018, rising 7.1% to average 30.0p/th in July. The contract peaked at 38.4p/th. August 19 gas rose 4.2% to average 29.8p/th....

Power cut causes disrupton

Two power stations disconnected from the National Grid for 15 minutes earlier this month, but caused havoc for rail commuters. While two power stations shutting down at the same time is a ‘very rare incident’, they can cause a ‘domino effect’ where other generators struggle to make up for...

Digest of UK Energy Stats published

The Department for Business, Energy and Industrial Strategy (BEIS) released its Digest of UK Energy Statistics for 2019 on 25 July. Key points published in the document include: In 2018, UK energy production was up 2.9 per cent on a year earlier. The rise was driven by growth from...

July Markets Update

Gas market trends All seasonal gas contracts fell in June, decreasing 1.5% on average. Winter 19 gas dropped 5.7% to average 51.3p/th. Summer 20 gas fell 1.7%, averaging 44.4p/th in June, a 1.1% increase from the same time last year. The annual October gas contract fell 3.9% to average...

Clean Energy Overtakes Fossil Fuels

Britain is now obtaining more power from zero-carbon sources than fossil fuels, according to a report by the National Grid. Annual power generation data from the last decade shows Britain’s reliance on cleaner energy sources such as wind, solar, nuclear and hydro power will overtake fossil fuels such as...

Brexit Could Leave UK Short on Energy

The UK would be vulnerable to gas supply shortages and price hikes after Brexit, according to a BBC report. The UK imports almost half the gas it consumes via pipelines from Europe. Brexit could mean that EU nations would be able to impose tariffs on their gas and electricity...

Labour Party Announces Nationalisation Plans

Last month the Labour Party announced that it would take the National Grid back into public ownership. Its Bring Energy Home plan would bring the four licensed electricity and gas transmission companies back into public ownership and ‘replace existing private monopolies with publicly owned and locally run institutions’. A...

Government consultation on energy efficiency for SMEs

Last month saw the close of the formal ‘Call for Evidence’ on the Government’s Energy Efficiency Scheme for Small and Medium Sized Businesses. It’s thought the scheme could help create up to £2.5 billion a year in savings for SMEs and support the government’s target to ensure all businesses...

June Markets Update

Gas market trends All seasonal gas contracts fell in May, decreasing 3.0% on average. Winter 19 gas dropped 3.1% to average 54.5p/th. Summer 20 gas lost 2.7%, averaging 45.2p/th in May, a 3.1% increase from the same time last year. The annual October gas contract fell 2.9% to average...

May Markets Update

Gas market trends All seasonal gas contracts rose in April, increasing 4.6% on average. Winter 19 gas gained 5.1% to average 56.2p/th. Summer 20 gas was 4.9% higher, averaging 46.5p/th during the month, a 17.3% increase from the same time last year. The annual October 19 gas contract rose...