Innovative Energy Consultancy Ltd
Innovative Energy Consultancy Ltd

Category: Latest News

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...

Ofgem Invests £300m to Support Electric Care Take-Up

UK energy regulator, Ofgem, has agreed to invest £300m over two years to support the provision of low-carbon electric heating for homes and businesses as well as 3,550 charging points for electric vehicles. With the announcement that the UK will cease sales of new petrol and diesel cars from...

June Markets Update

Gas Across May, Gas prices have continued to follow the increasing trend seen in March & April. The increases have been due to several reasons including below-average temperatures since the start of the year causing increased consumption and lower than expected renewable generation and supply issues caused by both...

May Business Energy Markets Update

Gas In contrast to March, temperatures dropped below the seasonal norm which resulted in undersupply due to high demand and reduced LNG output. Prices were also affected by limited renewable power. The one-year-forward price has increased since last month, with commercial gas closing at 56.14ppt on 30th April, compared...

Clean energy demand from IEA for critical minerals

The International Energy Agency has called on the UK government to ensure the reliable, sustainable supply of critical battery minerals, important for clean energy technologies like electric vehicles and wind turbines. Announcing the report, the IEA said: “Supplies of critical minerals essential for key clean energy technologies like electric...

Efficiency could be underpinned by Super-deduction tax

In the March Budget, Chancellor Rishi Sunak announced ‘super-deduction measures’ which mean that businesses can deduct 130% of their tax bill on capital expenditure connected with plant, machinery and efficiency work. The government aims to incentivise businesses to make additional investments and increase spending, in a bid to improve...

Britain’s Electricity System ‘Greenest Ever’ Over Easter

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...
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