Five things we learnt from Energy Spectrum | 674

We present five key themes and findings from this week’s edition of Energy Spectrum Issue 674

Our Energy Perspective considers the similar themes between the Committee on Climate Change’s (CCC) latest annual progress report to Parliament on reducing emissions and National Grid’s Future Energy Scenarios analysis for 2019. We find there is a tension between the need for urgent policy action and the requirement for a clear and workable framework to prime the pump for the scale of investment which is not easy to resolve.

In our Policy section this week, we look at the assessment and recommendations put forward by the CCC in its annual report to Parliament, as well as considering the BEIS Committee’s Energy Efficiency: Building towards Net Zero report, which urges immediate action from the government.

We also have a look at the responses to a BEIS consultation on establishing a market for energy efficiency alongside recommendations from the Committee on Fuel Poverty to provide new funding to reduce fuel poverty.

Ofgem summarised its progress against the projects described in its 2018-19 Forward Work Programme, as well as presenting yearly performance indicators and expenditure costs and audit results.  In our Regulation section, we look at Ofgem’s annual report and accounts for 2018-19.

BEIS statistics reveal that over half the UK’s electricity mix in Q119 was generated by low carbon sources. In our Industry Structures section, we look closely at BEIS’s Energy Trends report and look at what is generating the UK ‘s electricity.

If you are interested in any of these stories and would like to know more about the Energy Spectrum service, please contact Nick Palmer for a trial at n.palmer@cornwall-insight.com 

Related thinking

Announcement

Energy market and net zero transition learning and development: Role-relevant career development training

We’re well over halfway through the calendar year and are now beginning to see more of the government’s thinking and policy-shaping around what needs to change to meet the 2050 net zero target. For example, the flurry of documents issued towards the end of 2020, including the Energy White Paper...

Net zero corporates and ESG

Data critical for sustainable investments

On 24 June, attendees to our 'Financing net zero forum' tuned in to hear the expert panel discussions on the role of data in sustainable investment. Joining the meeting chairs, Cornwall Insight's Daniel Atzori and Emma Bill were our guest panellists from Mercatus and Victory Hill Capital Group LLP. For investors to make...

Low carbon generation

Our Renewables Pipeline Tracker: In with the new – scoping projects and progression through planning stages

Our latest Renewables Pipeline Tracker was published on 11 June, and this blog provides a summary of some of the recent developments in our coverage of the pipeline for new build and repowering renewables assets in GB. What’s new? Seabed leasing rounds, scoping projects and CfD announcements Since our previous...

Heat networks

Reallocating electricity policy costs to incentivise low carbon heating technologies

Funding the cost of decarbonising the power system has mainly been through the consumers' electricity bills. In fact, in 2020-21 these costs amounted to a whopping £10bn. But is this method of raising revenue for decarbonisation still fit for purpose when faced with the need to decarbonise the nation's heat?...

Regulation and policy

How will consumers take to Market-wide Half Hourly Settlement?

Ofgem published its decision to implement the move to Market-wide Half Hourly Settlement (MHHS) on 20 April. This confirms plans to move to new settlement arrangements over a four and a half year time period, with the Elexon-led Design Working Group’s Target Operating Model to be used as the blueprint. Meters...

Net zero corporates and ESG

Financing net zero panel advises policymakers for a long-term view of net zero to boost merchant renewable confidence

Last Thursday's 'Financing net zero forum' brought together 580 registered attendees across the renewables sector to listen to the expert panel discuss managing renewable merchant risk. Joining the chair of the meeting were experts from across the industry, with Shoosmiths sponsoring the afternoon discussions. Merchant renewables – the development of...

Regulation and policy

Ofgem raises modifications ahead of RCC and new switching arrangements

The latest edition of our Faster Switching Service Report due to be issued this week includes the latest developments in Ofgem’s Switching Programme and the associated Retail Energy Code (REC). Launched in November 2019, the Retail Code Consolidation (RCC) Significant Code Review (SCR) set out Ofgem’s intention to amalgamate the...

Net zero corporates and ESG

Get ready for climate risk reporting?

On 30 April we released the latest copy of our Energy net zero. The publication takes an in-depth look at the UK's transition to a low carbon economy. The below is an extract from our Energy Perspective on Task Force on Climate-related Financial Disclosure (TCFD). The article was originally published in the...