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Addressing the high real cost of renewable generation
Over the past few months we have been inundated with claims from interested parties that more renewables are the [...]
Energy security strategy: worryingly vague, worryingly long-term and worryingly still supply focused
Last night the Government announced its much anticipated energy security strategy, with the full version appearing this afternoon. The [...]
Price cap subsidies for every household as default tariff hits record highs
This morning Ofgem has announced a record increase in the level of the default tariff price cap, from £1,277 [...]
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The first Capacity Market Notice of Winter 22 indicates difficult times ahead
Just after 2:30 yesterday afternoon, National Grid ESO issued the first Capacity Market Notice (“CMN”) of the winter, predicting a spare generation margin of just 177 MW at 7pm – CMNs are issued automatically if the margin drops below [...]
Why Norway’s views on energy security should ring alarm bells across Europe
Norway's energy security would appear to be a done deal, yet the past couple of years have been very challenging for its electricity market. While the rest of Europe struggles with reduced access to gas, it seems strange that [...]
A depressing Autumn Statement introduces new taxes and cuts consumer support
Yesterday the new Chancellor. Jeremy Hunt, issued a new Budget for the UK in his Autumn Statement, reversing most of the policies in the Truss/Kwarteng Growth Plan. The Statement heralds significant tax increases for just about everyone, with several [...]
Stress corrosion continues to trouble the French nuclear fleet
This week EDF updated its expectations for its nuclear fleet for this winter, downgrading its output forecasts to 275-285 TWh, compared to the previous estimate of 280-300 TWh. The main driver of the downgraded forecasts is a refusal by [...]
Demand Flexibility Service allows households to participate in DSR for the first time
Today National Gris ESO has officially launched the Demand Flexibility Service it announced in its Winter Outlook after Ofgem approved the scheme. It will run from today until 31 March 2023 allowing both businesses and households to be paid [...]
Sale of Bulb to Octopus Energy should finally cap the bill for consumers
Over the weekend, the Government announced that failed supplier Bulb which entered Special Administration back in November last year, is to be acquired by rival Octopus Energy. Although the sale process was described as “competitive” it is widely believed [...]
European gas markets remain volatile: demand reduction will be key
In addition to the electricity winter outlook, National Grid’s gas operations division recently published its outlook for the gas market this winter. Despite the wider crisis in the gas markets, which is driving gas prices higher globally, including in [...]
UK Government energy price support schemes creating uncertainty
On Monday, the new Chancellor, Jeremy Hunt, shocked the energy market by potentially limiting the domestic Energy Price Guarantee (“EPG”) to just six months, rather than the two years initially promised only last month. Of course, the Government is [...]
NG ESO’s winter outlook still understates risks and focuses on demand reduction
Today, National Grid ESO published its Winter Outlook for 2022/23, updating its position since the early outlook issued in July, which was widely seen as unrealistic. The position in July was that a capacity margin of 4.0 GW was [...]
Business energy support maximum discount lower than expected
The Government has updated the maximum discount levels available to businesses through the Energy Bill Relief Scheme this winter. When the scheme was initially announced on 21 September, the expected maximum discount values were £405 /MWh for electricity and [...]
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