Innovative Energy Consultancy Ltd
Innovative Energy Consultancy Ltd

Year: 2020

COVID Crisis Slows Energy Efficiency, Increasing Need for Urgent Action

International climate goals are under threat following energy efficiency’s weakest progress in a decade. Global progress on energy efficiency has slowed this year due to the economic impact of the Coronavirus pandemic, making it more difficult for nations to reach international energy and climate goals. According to a new...

Oil Rises Towards $50/bbl following OPEC+ Supply Compromise

Following a cautious supply agreement between Russia and the Organisation of Petroleum Exporting Countries (OPEC), oil prices have reached their highest level since March. On Thursday 3rd December, Russia and OPEC (a group known as OPEC+) agreed to boost oil supplies by 500,000 barrels a day from January, a...

December Markets Update

Gas On 30th November, market close data revealed the one-year forward price for commercial gas closed at 38.81 ppt, a small rise since the end of October (88.60 ppt). With a cold weather forecast for the month ahead, this upward trend is expected to continue throughout December.   Power...

Solar Energy to Lead Renewable Power Surge

Although hydropower remains the largest renewable source, solar is predicted to grow astronomically in the next decade, followed by onshore and offshore wind. In the latest World Energy Outlook report, the IEA (International Energy Agency) found that solar projects are offering some of the cheapest electricity ever seen and...

The Future of Energy? Hydrogen, Nuclear, and Renewables

The Committee on Climate Change continues to advise the UK government on its target to reach net-zero emissions by 2050. Talks centre around electrifying transport and industrial processes and generating “green hydrogen”. As The Committee on Climate Change continues discussions with the UK on energy strategies to meet the...

November Markets Update

Gas Market close data on 30th October revealed the one-year forward price for commercial gas stood at 38.60ppt, a decrease since earlier in the month, though still an increase since the end of September (37.3ppt). Gas prices decreased sharply at the beginning of the month, pressured down by weakening...

Plans Unveiled to Make UK World Leader in Green Energy

Prime Minister, Boris Johnson, recently set out commitments to ensure the UK will be at the forefront of the green industrial revolution by 2030. As part of his plans to ‘Build Back Greener’, Mr Boris Johnson has developed new plans to make the UK a world leader in clean...

India Considers Closing Its Dirtiest Coal Plants as Green Focus Grows

India’s power ministry is considering a proposal that would force some of its dirtiest coal plants to close. The plan under discussion has arisen following the nation’s growing outcry against air pollution and global concerns over climate change. Evidence has shown that as renewable energy rises, coal plants in...

October Markets Update

Gas As of 30th September, market close data set the one-year forward price for gas at 37.2ppt – an increase since the end of August. Gas prices displayed heavy losses at the beginning of this month as traders reset their positions in preparation for Q1-21. Power The one-year forward...
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