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Five things we learnt from Energy Spectrum | 662 - tmrw. test

Five things we learnt from Energy Spectrum | 662

In this week’s Energy Perspective, we consider Ofgem’s tightening of the rules for becoming an electricity supplier with company entry checks and fit and proper persons tests. We commend the regulator’s proposals but flag that it will be tougher for it to define and monitor an ongoing performance monitoring regime.

In policy we address BEIS’s much-anticipated updated long-term energy projections. They show that while the UK remains on track to meet its third carbon budget – to reduce emissions by 37% compared to 1990 levels by 2020 – it is currently off target to meet its fourth and fifth carbon budgets, and by a larger margin than was previously forecast.

In regulation we review Ofgem’s latest update on its compliance and enforcement activities. We argue that the review is useful in demonstrating Ofgem’s focuses, how it interprets and enforces the standards of conduct and the changing compliance environment and should be required reading for all suppliers.

In Industry Structure we review the latest Cornwall Insight Index of Domestic Energy Supply Costs which shows how the latest network and policy charges have put upward pressure on both electricity and gas bills, offsetting downwards pressure from weaker wholesale markets.

In this week’s Nutwood, Cornwall Insight Associate Peter Atherton discusses how Danish energy company Ørsted has bucked the trend of weak energy sector share prices through its ability to deliver significant offshore wind projects.

Related thinking

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...

Commercial and market outlook

BEIS opens consultation on CfD payment deferral

BEIS launched a consultation on a proposal to defer to Q121 part of the increase in electricity suppliers' obligations for Q220 for the Contracts for Difference (CfD) scheme. Launched on 12 May, the consultation is a follow up to the decision BEIS took on 24 April to provide a one-off...

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