Five things we learnt from Energy Spectrum | 660

Despite being championed regularly by the government during the mid-2020s, more recently, the embryonic shale gas industry in the UK has had to make its own case. Support for that case could be seen in recent reports by UK Onshore Oil and Gas and others which demonstrate the potential for developing indigenous gas production in GB (in the case of the former), as well as highlight a growing LNG sector globally. Against this context, this week’s Energy Perspective considers the prospects for building a new onshore GB gas production base.

Government policy has become gradually more sympathetic to intensive industry as its electricity prices have risen against neighbouring countries. But cost reliefs and support remain limited compared to several of those markets. Against this background – as we suggest in this week’s Policy section – the government’s new £315mn Industrial Energy Transformation Fund is an important initiative.

Although the Renewables Obligation is now closed to new capacity, the threat of mutualisation means the scheme is now trickier than ever for suppliers to manage. In our Regulation section, we look more closely at Ofgem’s Renewables Obligation Annual Report 2017-18, published 21 March, finding that lessons from setting the target over recent years seem to have been learned, with headroom delivering good prices for generators.

Our Industry Structure section takes a look at National Grid’s Summer Outlook 2019, the latest iteration of its annual report, published on 26 March. It demonstrates that current indications show a stable summer forecast, with ample gas supplies and the ability to meet both gas and power demand.

In November 2018, the final changes through BSC modification P305 were implemented. In this week’s Nutwood we consider recent developments including last weekend’s record sequence of negative prices.

Related thinking

Regulation and policy

Calm before the storm? 2021 energy supplier compliance developments

The latest update to our Energy Supplier Compliance Portal went live on 4 May and includes changes to the compliance landscape during February to April 2021. While the previous quarter’s update reflected new principles resulting from Ofgem’s Supplier Licensing Review (SLR) and protections for prepayment meter customers facing self-disconnection, Q121...

Energy storage and flexibility

How nuclear energy can help the UK reach its net zero goals

This article was originally written 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. There are several challenges to reaching net zero, where its proponents believe nuclear could add value. Some of tomorrow’s main issues concern: How to provide low...

Announcement

Introducing Energy Spectrum Europe

Cornwall Insight is pleased to announce the launch of Energy Spectrum Europe. This new addition to the Energy Spectrum stable will provide the authoritative, independent insight and analysis of energy markets for which its peers covering Great Britain, Ireland and Australia are rightly renowned. Every month Energy Spectrum Europe will...

Commercial and market outlook

A look back at 2020

As we take our first steps into 2021, we look back at the biggest developments in the UK energy markets in 2020, setting us up for the significant year ahead. As 2019 turned into 2020, we were still waiting for the Energy White Paper (EWP), a document which had been...

Announcement

15 years on…

2020 marks 15 years since the inception of Cornwall Insight. Take a look at the infographic to see how the UK energy economy and Cornwall Insight have changed.

Commercial and market outlook

The PM’s 10-point plan: Further thoughts from our Energy Spectrum webinar

In our regular Energy Spectrum webinar on Tuesday 24 November, Senior Writer Nick Palmer and Head of Relationship Development Robert Buckley discussed the government’s 10-point plan for a green industrial revolution. They considered what has led to this point, what is in the plan, what the reaction was to it...

Announcement

15 years of Energy Spectrum and the Daily Bulletin

We have just passed a notable landmark with the 15th anniversary of the launch of the Energy Spectrum Service. 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...

Business supply and services

Plus ça change, plus c’est la même chose: the RO late payment deadline

Today (11 November 2020) Ofgem has confirmed that there will be mutualisation of the 2019-20 Renewables Obligation. On Monday, in our 'Energy Spectrum' Perspective, we explained to customer’s why this was important and likely and what it means for the energy industry. Find out more about a free trial to Energy...

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