Innovative Energy Consultancy Ltd
Innovative Energy Consultancy Ltd

Month: February 2020

BP Sets Net Zero Target

BP has said it will reduce its carbon footprint to net zero by 2050 or sooner. The company will need to remove more than 400m tonnes of carbon emissions a year from its oil and gas businesses through tree-planting and carbon capture technologies. Launching the initiative, BP stated: “These...

EU ETS and the impact of Brexit

The Government has stated that EU ETS will continue for the 2019 and 2020 compliance years during the Brexit transition period from 1 February 2020 to 1 January 2021. A new report by the Durham Energy Institute (DEI) is ‘making an urgent case for the UK Government to focus...

February Markets Update

Power update Wholesale power prices were bearish at the end of January due to strong supply and lower demand. Despite low wind generation, UK power contracts dropped 2.5% on average due to milder weather. Contracts dropped by 0.7% at £37.0/MWh while Summer contracts dropped by 1.5% (£35.84/MWh) and Winter...