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Industry News Roundup February 2019

Friday 08/02 – Drax says that the first bio-energy with carbon capture and storage (BECCS) pilot project of its kind in the world, located at its North Yorkshire power station, is now capturing carbon dioxide. Energy company SSE publishes a trading update for the quarter ending 31 December 2018. It said that the suspension of the Capacity Market (the scheme to ensure UK security of supply) means that it is unlikely to receive the £60mn income it is owed before the end of the financial year 2018-19 and has therefore led it to reduce its full-year forecast for expected adjusted earnings per share for 2018-19 by around 6p, to between 64p and 69p.

Thursday 07/02 – Government data finds support for renewables has fallen from an 85% peak in March 2018 to 77% in December 2018, while awareness of the concept of clean growth has continued to fall. EDF Energy announces that it is to end generation at the 2,000MW Cottam coal-fired power station in north Nottinghamshire from September, citing “challenging market conditions over the last few years and the context of the drive to decarbonise electricity generation”.

Wednesday 06/02 – Business and Energy Secretary Greg Clark tells the MPs on the Business, Energy and Industrial Strategy Committee that the Regulated Asset Base (RAB) model for nuclear projects is under active consideration and confirms that the government has no plans to nationalise the suspended Wylfa Newydd project. The RAB model means that investors can receive returns on a project before it has been completed, helping to mitigate the construction risks of the project. Energy company E.ON announces that it has entered a partnership with vehicle leasing firm ALD Automotive to develop electric vehicle charging infrastructure for corporate sites and homes.

Tuesday 05/02 – Government greenhouse gas emissions statistics show that the UK has met its second carbon budget (covering 2013-17) and that from 2016 to 2017 overall emissions decreased by 3%, with energy supply accounting for the greatest reduction. A new report by the Oxford Institute for Energy Studies concludes that the EU’s gas sector has failed to convince governments, NGOs and the media that it can achieve post-2030 decarbonisation targets.

Monday 04/02 – More than 30 global corporates pledge to replace their road fleets with electric vehicles (EVs) as part of the EV100 initiative, which targets 2mn EVs by 2030. A group of six trade associations has responded to the energy regulator Ofgem’s Targeted Charging Review consultation, arguing that the changes proposed would result in “a year or two with limited network benefits for flexibility and storage”. Flexibility can enable energy consumers to change their consumption behaviour or use onsite generation to help balance the grid during times of high demand and benefit from cheaper electricity.

Written By Graham Paul

Friday 01/02 – The UK Offshore Wind Industry Supply Chain Review recommends clear targets from the government for the scale of offshore wind deployment, with developers encouraged to publish clear life-cycle plans. Business Green reports that the UK low carbon and renewable energy economy grew at close to 7% in 2017.

Written By Graham Paul

Graham Paul


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