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Industry News Roundup June 2023

Friday 30/06 – Centrica announces that it has increased the gas storage capacity at the Rough gas storage facility. Following further engineering work and investment, the facility will now be able to store up to 54bcf of gas.

Thursday 29/06 – The Aldersgate Group announces that it has published its Net Zero Policy Tracker, which provides an assessment of the UK Government’s progress towards delivering net zero.

Wednesday 28/06 – The Climate Change Committee calls on the government to commit to more ambitious net zero delivery, following the Carbon Budget Delivery Plan (CBDP) being published. Scottish Power Energy Retail publishes its accounts for the year ended 31 December 2022, reporting that revenue increased by 58% to £6.3bn (2021: £4.0bn), while operating losses increased by 6% to £323.1mn (2021: £305.4mn).

Tuesday 27/06 – Ofgem publishes its decision to extend Centrica Storage Limited’s (CSL) exemption to negotiated third party access (nTPA) at the Rough storage facility from 30 June 2024 to 1 April 2030.

Monday 26/06 – DESNZ publishes a consultation on the Future of the Industrial Energy Transformation Fund (IETF), following a commitment to extend the fund as part of the Powering up Britain package on 30 March.

Friday 23/06 – DESNZ reports on the Public Attitudes Tracker for Energy Bills and Tariffs in the UK for Spring 2023.

Thursday 22/06 –Ofgem publishes updates regarding the audits of Renewables Obligation (RO) generating stations and Feed-in-Tariff (FIT) installations for the 2023-24 period.

Wednesday 21/06 – The Public Accounts Committee announces that it has published a report on Decarbonising the power sector.

Tuesday 20/06 – The Scottish Government publishes its Scottish Greenhouse Gas Statistics 2021, showing GHG emissions in Scotland over the period 1990 to 2021.

Monday 19/06 – Sir Keir Starmer delivers a speech unveiling the Labour party’s mission to cut bills, create jobs and increase energy security.

Friday 16/06 – The Public Accounts Committee (PAC) announces that it has published its Energy bills support report, stating that while the government’s energy bill support schemes were introduced quickly, approximately 1.7mn people were left waiting for months for help due to the government’s ‘lack of bandwidth’.

Thursday 15/06 – National Grid ESO publishes an Early View of Winter Outlook report, to give organisations across the UK energy industry time to prepare for the coming winter.

Wednesday 14/06 – The National Audit Office (NAO) reports on the progress of DESNZ and its predecessor department in delivering the smart meter rollout.
2023 to August 2024 for the new settlement arrangements.

Tuesday 13/06 – Ofgem proposes to make a Final Order (FO) requiring Foxglove Energy Supply to comply with Standard Licence Condition (SLC) 4A, the operational capability principle.

Monday 12/06 – Ofgem publishes its decision on changes to the Level One milestones of Market-wide Half-Hourly Settlement (MHHS) moving the MHHS from July.

Friday 09/06 – The government announces that Energy Profits Levy will remain in place for the next five years while oil and gas prices remain higher than historic levels but will return to 40% when prices consistently return to normal levels for a sustained period.

Thursday 08/06 – Prime Minster Rishi Sunak and US President Joe Biden announce the Atlantic Declaration: A framework for a twenty-first century US-UK Economic Partnership.

Wednesday 07/06 – Ofgem publishes a press release stating its support for the proposed legal mandate to prioritise the UK’s 2050 net zero target. The government’s amendment to the Energy Bill will give the regulator a statutory net zero duty, which Ofgem stated will add a specific duty to support the government in meeting its target for 2050.

Tuesday 06/06 – The government announces it will provide £7mn in funding as part of efforts to grow the rural economy.

Monday 05/06 – The Department for Transport (DfT) publishes a new position paper on Low carbon transport fuels from the DfT Science Advisory Council (SAC).

Friday 02/06 – National Grid ESO (NGESO) announces that it is introducing additional targeted reforms to speed up connections to the electricity grid.

Thursday 01/06 – Ofgem publishes a press release calling for investors to bid on up to 10 Offshore Transmission Owner (OFTO) assets worth £7bn during bidding rounds that are planned for 2024 and 2025. These assets comprise of prebuilt transmission connections for offshore wind farms and will provide guaranteed returns for 25 years.

Written By Graham Paul


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