I’ve been busy latey on some interesting client projects and a couple of reports which should be published shortly, but in the meantime, I’ve recorded several podcasts so far this year which are all linked below. From time to time I get requests to record my blogs as podcasts which is hard to find the time to do, but these podcasts cover many of the topics I write about on this blog, so hopefully will go some way to filling this gap. (If more people would like audio content, please let me know and I will consider again recording some of my blogs and speeches.)
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Canadian Global Affairs Institute Energy Security Cubed podcast
First up was my third outing with the Canadian Global Affairs Institute and its Energy Security Cubed podcast. The episode can be found here.
We discussed the impact of cold, still weather in winter in the context of high renewables penetration as both the UK and Alberta experienced cold snaps. Alberta had grid warnings as temperatures dropped and there were reduced imports from neighbouring provinces.
We also discuss the cost of renewables and the discredited LCOE approach to evaluating the cost of generation, as well as access to the critical minerals that will be needed for the energy transition.
Institute for Economic Affairs podcast
This was followed by my second outing with the Institure for Economic Affairs in London. The episode can be found here.
We covered a wide range of topics from the Energy Profits Levy and annual licencing rounds in the North Sea, to what should happen with Drax, and of course we cover the issue of windfarm costs and the fact they are not cheap and nor are costs falling, the failure of AR5 and the confused thinking over subsidies.
Also, the need for better nuclear regulation and a significant push for new large-scale reactors, with KEPCO being the most credible developer currenty delivering modern reactors.
Bloomberg Merryn Talks Money podcast
This was followed by my first podcast with Bloomberg, appearing on Merryn Talks Money. The episode can be found here.
Merryn opened by asking me if net zero is possible or desirable! We discussed issues with the narrow focus on carbon dioxide implied by net zero, and the economic and social impact of the huge increases in mining that will be needed to deliver against these targets, and the need for a more holistic approach to sustainability.
We also discuss the challenges of renewables in the context of a lack of seasonal energy storage and why nuclear power is the answer.
If you are looking for a topic for a future blog/podcast, I would greatly welcome an explanation of negative pricing in the wholesale electricity market – for the benefit of those of us without any economics expertise. A few months ago, I read a Norwegian article about how the new UK link was going to give them negative-price UK electricity for four hours the following day. They too seemed baffled.
How does this tie up with CfDs? If I am a solar farm with a £49/MWh CfD, why don’t I just bid -£500/MWh for the following day, win the contract (obviously), and then pick up the £549/MWh subsidy? I can’t be the only ignorant reader of your excellent blogs.
Hi Kathryn…thanks for the Bloomberg podcast providing an excellent wide ranging view of energy in the UK.
Together with Watt-Logic you must be pleased with the outcome.
So many topics will always raise several thoughts & questions, here goes:
For some 100 years the grid network has evolved, constantly being upgraded attracting 10’s of £m spend annually.
All the experience & skills over the period delivering almost 100% reliability must count for something.
Not sure that a rebuild is necessary.
Surprised no reference to hydro pumped storage.
David Meigh in his excellent reply to “Can Norway be the battery Europe ?” topic (10/2/2024) suggest there are 115 sites in the UK that could be possibles.
Energy storage serving renewables & big nuclear linked with a robust high capacity green supergrid network………so good so far.
However the elephant on the cumbrian coast remains which I find challenging to defend.
https://amp.theguardian.com/environment/2022/sep/23/uk-nuclear-waste-cleanup-decommissioning-power-stations
Briefly touched on but IMO deserved more prominence in the debate.
Such eye watering costs leads me to think can we as a nation afford this burden ?
Sure that management & clean up of nuclear waste is not factored in the end to end cost of new nuclear plants.
I remain a fan of big nuclear part funded by the taxpayer but I’m struggling with that favourite question “what about the costs associated with waste reprocessing & clean up” ?
The Guardian article above provides ammunition for all those doubters out there……..please help !
Barry Wright, Lancashire.
The costs relate for the most part to cleaning up legacy waste which was not disposed of properly.. Also waste from nuclear research often just left in place. Modern waste is not adding to this problem, so the argument does not apply.
Hi again…..I stand my original reply comment. I have never seen the full end to end cost of nuclear plants.
Why is there no clean up cost factored in beyond decommissioning ?
I have seen comprehensive end to end costing applied to the production of green hydrogen, wind turbines, LNG imports, Drax Biomass etc.etc.
I remain fully supportive of the EMBED model & Kepco APR-1400’s but would include pumped hydro where ever possible.
Several family members run successful businesses & have good financial knowledge plus a keen interest in politics. My neighbours are a mix of professionals across a broad spectrum of non engineering disciplines. I also chat regularly with the gardeners, postmen, delivery guys, cleaners etc. Once on board most warm to the idea of big nuclear linked into a high capacity green grid network delivering carbon free electricity across the UK. Energy security unaffected by weather plus dare I say independence from Scandinavia & mainland Europe well received.
The legacy of the Windscale years some 40 years ago continues to cast a dark cloud. Superseded by Sellafield, a government owned, heavily regulated multifunctional modern streamlined facility for the processing of nuclear waste. Most can sort of accept this but clarifying the post commissioning clean up is a stretch, particularly the lack of information.
Most agree that the favoured model is dead in the water on the basis that as a nation the UK just can’t afford to ramp up nuclear generation on such a scale.
Bearing in mind my group are representative of the many who will be eventually be footing the bill leads me back to the question why Merryn Somerset Webb didn’t raise the clean up cost post decommissioning with Kathryn.
Barry Wright, Lancashire.