Chancellor Rishi Sunak delivered his Budget on 3 March, a year on from the start of the COVID-19 crisis and his second in the job. Headline announcements included, among others, a sovereign green bond, the UK Infrastructure Bank, a freeze in Carbon Price Support and £20mn for floating offshore wind. Our alert covers all the important announcements for the energy sector.
Related thinking
Announcement
Daily Bulletin, I love you 4,000
We have just passed a notable landmark with our 4,000th issue of the Daily Bulletin being published today. Things started with the first Daily Bulletin on 13 September 2005 – the main news on that day was E.ON UK applying for planning to build a CCGT at Drakelow. It never progressed beyond planning, but the second story, negative reaction to tariff...
Announcement
Women in the energy sector: Enabling progress at Cornwall Insight
Today, the campaigning group POWERful Women* (PfW) will launch its 2021 statistics on gender diversity at the top of the UK energy sector (register here). Like many of you, I will watch with interest to see how the picture has evolved: last year it reported 13% of executive board directors in...
Commercial and market outlook
April Fools’ Day 2021: In today’s other energy developments
Our energy April Fools' day headlines... Netflix’s The Regulator set to return with Ofwat crossover Fans of Netflix’s Ofgem-set smash hit The Regulator will be thrilled to learn that season two starts filming today (Thursday 1 April). Although secrecy is as high as ever on set, producers have confirmed that...
Commercial and market outlook
In the midst of the Australian Energy Transformation Process
Australia is in the midst of an energy supply and distribution transformation. This transition is twofold and includes not just bridging the gap from conventional fossil fuels to renewable technologies (due to their reduced carbon footprint, lower levelized cost of energy and improved reliability levels by comparation), but also requires...
Low carbon generation
Nuclear energy and its potential importance for net zero
This article was originally written as a longer piece in Energy Spectrum on 21 March 2021. To find out more about a subscription to Energy Spectrum, please contact Nick on n.palmer@cornwall-insight.com. Nuclear energy has been an integral part of the UK’s electricity system for many decades. Currently, nuclear provides around...
Net zero corporates and ESG
The Emperor’s new clothes?
Institutional and governance reform forms a major plank of the energy white paper, with the inevitable result that industry commentators are proposing various and new institutional constructs to address the immense challenge of transitioning the energy sector to net zero. We have seen many ideas in this space over the...
Net zero corporates and ESG
Sleeving Pools could enable local authorities to procure local energy
This blog post is adapted from an article in March’s issue of Energy net zero, published on 31 March. To find out more about a subscription to Energy net zero, please contact Veronica at v.truman@cornwall-insight.com. For many local authorities and corporates, development of small-scale renewables and consideration of generation production...
Low carbon generation
New transmission charge forecast will help generators managing cost uncertainty and volatility
Transmission network use of system (TNUoS) charges represent a significant proportion of operating costs for many renewables generators, often exceeding 50% of annual running costs. For some, as recently highlighted by SSE in a recent report and to Members of the Scottish Parliament, they could present a barrier to investment in generation...
