Innovative Energy Consultancy Ltd
Innovative Energy Consultancy Ltd

Category: Latest News

Celebrating 10 years with IEC

We’ve recently celebrated a milestone here at IEC, marking the 10th anniversary of when Senior Energy Manager Gavin Williams joined the company. Gavin was joined by all the IEC team at a dinner at the Opera Grill in Chester hosted by MD Mike Jones, it was a great success...

Gas and power markets update

Gas market trends What’s been happening? All seasonal gas contracts experienced gains in November, with the front season contracts undergoing the greatest growth. Contracts from summer 2018 out to winter 2020 lifted 3.9% on average The largest growth was observed in the summer 18 gas contract, which increased 5.2%...

Gov’t uses Budget to control renewables impact

On 22 November, Chancellor Phillip Hammond delivered the government’s 2017 Autumn Budget. Although relatively light on energy announcements, the Budget still revealed several key changes. Major policy shifts included the implementation of a control on new-carbon spending and the maintenance of a Total Carbon Tax at current levels. The...

Commodities gain and power hits a 30-month high

Day-ahead power prices reached a 30-month high in November, whilst strong gains were observed across gas contracts. Brent crude oil, API 2 coal and EU ETS carbon prices extended from last month’s gains to reach fresh multi-year highs. Power prices climbed 9.0% to £50.9/MWh, reaching a 30-month high (£53.5/MWh)...

Gas and power market update

Gas market trends What’s been happening? Most seasonal gas contracts experienced gains in October, with contracts from summer 2018 out to summer 2020 lifting 1.2% on average Summer 18 gas experienced an uptick of 1.2% to average 42.3p/th, up from 41.8p/th the previous month. Though, the contract was 1.7% lower...

Gov’t targets boost to business energy efficiency

The government published its Clean Growth Strategy (CGS) on 12 October, outlining a range of policies and proposals to decarbonise all sectors of the UK economy into the 2020s. The strategy is intended to identify areas that need to see the greatest progress, both through technological breakthroughs and large-scale...

Power rises as commodities hit multi-year highs

Most power contracts experienced gains across October, broadly following gas prices higher. Brent crude oil, API 2 coal and EU ETS carbon prices all reached multi-year highs. An exception was day-ahead power, which dipped 0.1% to average £46.8/MWh. The month-ahead (November) power contract rose 3.2% to £52.9/MWh, with concerns...

Gas and power market update

Gas market trends What’s been happening? Most seasonal gas contracts experienced gains in September, rising 1.6% on average, with many reaching multi-month highs Winter 17 gas jumped 4.8% to 49.9p/th, 17.7% above its value of 42.4p/th in September 2016. Summer 18 gas gained 2.5% to 41.8p/th On 14 September,...

Gov’t auction delivers significant fall in low carbon power cost

The government announced on 11 September that a range of new energy projects, set to provide 3.3GW of new low-carbon electricity capacity, have been successful in the latest competitive auction for renewable technologies. The auction was limited to “less established” technologies, meaning some of the most familiar renewables like...

Commodities hit multi-year highs, power follows

A number of gas and power contracts hit multi-month highs in September, whilst Brent crude oil, API 2 coal and EU ETS carbon prices all reached multi-year highs. Day-ahead gas gained 8.1% to average 46.2p/th in September, its highest monthly average in seven months, as annual maintenance at a...