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Industry News Roundup December 2017

Friday 15/12 – BEIS issues a consultation on proposed amendments to the Contracts for Difference scheme, including classifying remote islands onshore wind as a less established technology. The Environment Agency, Natural Resources Wales and the Office for Nuclear Regulation approve Hitachi-GE’s UK Advanced Boiling Water Reactor nuclear power station. Barclays becomes the first UK bank to launch a range of green finance products to support corporate clients fund new low-carbon projects and investments.

Thursday 14/12 – Wirsol Energy announces the acquisition of two subsidy free solar park projects. A Hitachi Capital report says, if every van and HGV in Britain was powered by electricity, businesses could save approximately £14bn in fuel costs. 

Wednesday 13/12 – The Business, Energy and Industrial Strategy Committee concludes it is highly doubtful the UK will be able to deliver Euratom-equivalent nuclear safeguards by the time the UK leaves the EU. The Institution of Mechanical Engineers call on government to review the nuclear approval process to cut costs and speed up development in a new report.  It is reported Britain will be the first recipient of gas from Russia’s arctic gas Yamal project.

Tuesday 12/12 – Gas prices hit a four year high following an explosion at a compressor station in Austria and a crack in the North Sea Forties pipeline. Within a new report, the National Audit Office finds the government could have achieved a higher price in the sale of the Green Investment Bank. Flexitricity announces that it intends to launch a commercial energy supply service in order to gain benefits from the Balancing Mechanism. BEIS lists the development of reliable, low-cost and clean energy as one of its Areas of Research Interest.

Monday 11/12 – A hairline crack discovered in a section of the Forties Pipeline System, which transports 40% of North Sea oil and gas, forces it to be shut down for repairs. WWF Scotland finds wind turbines provided 77% of Scotland’s entire electricity demand in November. The International Energy Agency says a total of 330 exajoules in global energy savings could be achieved by 2060 through construction of high-performance buildings, and renovations of existing ones.

Friday 08/12 – BEIS confirms that it plans to invest around £100mn in low-carbon industrial innovation to reduce the risks and costs of accelerating the uptake of low-carbon tech. Carbon Bubble says the EU could avoid €22bn in losses by phasing out coal power in line with the Paris Agreement.

Thursday 07/12 – BEIS unveils its competition for funding for feasibility and development projects for nuclear advanced modular reactors, with up to £56mn available. In addition, EY research is issued showing the first small modular reactors deployed will be more expensive than conventional nuclear reactors. Analysis from the All-Party Parliamentary Group on Energy Storage finds that the deployment of battery storage could range from 1.7GW to 12GW by the end of 2021 is achievable.

Wednesday 06/12 – Electricity network companies announce a joint commitment to create new markets to enable flexibility services that will compete alongside traditional investment, potentially bringing £17bn into the UK economy. The government lays legislation before Parliament to bring forward the 2018 EU Emissions Trading System compliance date for UK operators. Research by the Energy Futures Lab at Imperial College London and 10:10 finds solar panels connected directly to UK railways could generate a significant amount of the electricity that the tracks consume.

Tuesday 05/12 – A report by the Grantham Research Institute on Climate Change and the Environment concludes that carbon pricing is the most effective policy instrument for reducing emissions in EU countries. The Scottish government reveals that in 2016, fuel poverty in the country fell by about 4 percentage points. The Welsh government reports that during 2016, 43% of Wales’ electricity came from renewable sources, up from 32% the year before.

Monday 04/12 – The government confirms that it will reform its Capacity Market and proceed with proposals to change how much money battery storage facilities that provide power for less than four hours can earn. A new report carried out by Oxford Economics finds the UK’s nuclear industry contributed £6.4bn to the UK economy in 2016. The Scottish government awards £2.6mn to innovative local energy systems, as part of its support for low-carbon energy.

Friday 01/12 – Ofgem consults on the separation of National Grid’s electricity transmission licence into Transmission Owner and System Operator functions. Also, Ofgem announces that five electricity projects and two for gas have collectively been awarded £57.6mn under the Network Innovation Competition.

Written By Graham Paul


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