Innovative Energy Consultancy Ltd
Innovative Energy Consultancy Ltd

Year: 2021

September Markets Update

Gas Despite Europe’s ongoing storage and supply issues over the past few months, UK gas storage has now reached average levels for this time of year after facing significant reduction for many months. Nevertheless, prices remain high, supported by poor supplies into Europe of both piped gas and LNG....

OFGEM Pledges £450m Funding for Greener Business Power

OFGEM has launched a new £450 million “Strategic Innovation Fund” to support greener innovation to heat homes and businesses, store energy, or transport goods and people across Britain. As part of the regulator’s support to reach the UK’s net-zero target by 2050 and lower energy bills for consumers, the...

August Markets Update

Gas Gas prices dropped slightly during the first half of July despite day-to-day volatility. However, by the end of the month, prices had rocketed to record highs. Supply uncertainty continues throughout July as the UK’s gas storage levels remain unable to start a recovery. This is due in part...

Grid Emissions Rise Amid 34-Day Coal Burning Streak

Figures from the National Grid ESO show the UK grid’s carbon intensity is already higher for 2021 than in 2020. 2020 saw the UK on track to meet its targets to cease burning coal for power generation by 2025. However, as the UK Government announced plans to bring this...

US and Germany Reach Deal Over Russian Gas Pipeline

A deal has been struck between the US and Germany to allow completion of the controversial $11 billion Nord Stream 2 pipeline. The nearly complete 1,230km (764 miles) pipeline under the Baltic Sea has been a long-standing point of contention between the otherwise aligned regions. The agreement, announced on...

July Markets Update

Gas UK gas storage levels are still struggling to recover from earlier in the year and even dropped towards the end of June, a period when we would usually see them increase. This was largely due to low gas flows from Norway (caused by maintenance and unplanned outages) and...

Clean energy swap historic first for Britain & Norway

A newly-completed 450-mile cable between Britain and Norway will soon begin to pass electricity between the two countries. The North Sea Link connects Blyth, north of Newcastle, with Norway’s coastal community of Kvilldal, in Rogaland. Hydropower from the Norwegian fjords will be brought to the UK whilst wind generation...

Coal Power Generation to End in October 2024

Ahead of the COP26 Summit in November, the UK Government has pledged to cease burning coal for power generation a year earlier than planned. In November, world leaders will meet in Glasgow at the COP26 summit to discuss the current climate crisis. Ahead of this, the UK Government has...

The IEA Sets-Out Pathway to Global Net-Zero by 2050

On 18th May, The International Energy Agency (IEA) published the world’s first comprehensive energy roadmap to rapidly boost clean energy and reduce fossil fuels to reach the UK’s net-zero target by 2050. The IEA’s report maps out a pathway with more than 400 milestones to guide the global journey...
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