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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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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 now to £ 1,971 from 1 April, an increase of 54%. About 80% of this rise is a result of [...]
Unexpected uplift to capacity market T-1 target for next winter
Last week the Government authorised the procurement volumes for the Capacity Market auctions to be held in February. While Kwasi Kwarteng accepted National Grid ESO’s recommendation for the T-4 auction to be held on 22 February, he decided to [...]
Can Norway be the battery of Europe?
In October, the 1,400 MW interconnector between Britain and Norway, known as the North Sea Link, began commercial operations. The €1.6 billion project is a joint venture between National Grid and Norwegian system operator Statnett. Unlike the other markets [...]
EPR: progress at Olkiluoto but Flamanville sees new delays and cost increases
Yesterday EDF announced a further delay to the schedule for its troubled flagship European Pressurised Water Reactor (“EPR”) at Flamanville: fuelling is now expected to start at the end of Q2 next year, delayed from late 2022. The project [...]
After the energy market chaos in 2021…expect more of the same in 2022
A year ago I wrote a post about all the words we used in 2020, and it’s interesting how many of these were forgotten in 2021. Of course, covid was still a key theme of 2021, but it didn’t [...]
LNG diversions see gas prices ease, but the ships can still re-divert
I didn’t really go out on a limb in my last post when I predicted that energy markets would continue to make headlines this year – the last few days have seen a lot of people wondering what on [...]
Accelerated SOLR cost recovery eases pressure on suppliers but will add to bills
Several people have reached out to me today asking me to comment on Ofgem’s announcement about the SOLR cost recovery, so I’m writing this quick blog on the subject. Back in October, Ofgem published a letter setting out its [...]
An alternative Christmas Carol
Had a certain Mr Dickens been around this year, I like to think that his Christmas-themed morality tale might have gone a little differently... It was a cold, dark Christmas eve, and the Prime Minister, like most other souls [...]
Nuclear update: EDF brings forward AGR closures, while progress at Hinkley Point C is under threat
EDF announced this week that it is bringing forward the closure dates of two of its nuclear power stations - Heysham 2 in Lancashire, and Tornesss in East Lothian, are now expected to close in 31 March 2028 instead [...]
Will Ofgem’s plans for prudential regulation in energy pay off?
In recent months there have been increasing calls for the introduction of prudential regulation in the energy markets, in response to the large number of suppliers that has failed this year. Supplier failures are a cause for concern because, [...]
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