As the UK strives for a carbon-neutral society, fossil fuel figures continue to drop, leading to the electricity system being the greenest it has ever been on Easter Bank Holiday Monday. Last year saw many records broken for Britain’s electricity mix, with almost 68 days coal-free from 10th April...
The Department for Business, Energy & Industrial Strategy (BEIS) released its latest report on UK Energy Trends for 2021. Key points published within this document include: Energy consumption in 2020 was low, with energy requirements for industrial use and services down by 8% on 2019. In 2020, total production...
Gas European spot and near curve gas prices were bullish in early March, in response to the drop in temperatures below seasonal norms. Gas prices saw further support towards the end of the month as a result of the blockage of the Suez Canal and the potential impact on...
The UK Government has allocated £220 million for designing a prototype commercial reactor over the next 20 years, known as a Spherical Tokamak for Energy Production (STEP). Potential locations include Nottinghamshire and sites across the East Midlands. Since December, the government has been seeking sites to build the UK’s...
After decades as one of the UK’s biggest coal plant generators, Drax has scrapped controversial plans to build Europe’s largest gas power plant in North Yorkshire thanks to opposition from climate groups. Following its announcement to end commercial sales of coal-fired electricity from the end of March, the FTSE-listed...
Gas We have seen a continued erratic start to the year which saw gas prices peak in early February. However, gas markets have gradually declined and stabilised since (with the one-year-forward price closing at 43.98ppt on 26th February), led by temperatures returning to seasonal norms and optimism from the...
An IFA2 interconnector between Hampshire and Normandy began to flow at full capacity at 11 am on 22nd January. The UK, in collaboration with French power firm RTE, established a two-way interconnector across the channel as part of a £700million shared investment. The UK’s fourth power exchange with continental...
Oil giant, BP, has suffered an astronomical loss of £4.2billion this year after oil prices and demand fell throughout COVID-19. The oil company took an exceptional loss as Brent Crude oil prices dropped sharply from £44/b at the beginning of 2020 to less than £13/b in April. BP’s huge...
Gas Demand levels are forecast to increase strongly over the coming weeks as a result of colder weather and low renewable power generation. Gas prices have continued to rise throughout January, with the one-year forward price for commercial gas closing at 47.98 ppt on 29th January (an increase of...
Off the coast of North Yorkshire, the construction of the biggest wind farm ever built continues to progress, with almost 200 turbines erected at what has been named “Dogger Bank wind farm” in the North Sea. The construction of the Dogger Bank wind farm will allow for large growth...
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