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Market for new-build renewables doubtful to meet net zero

Market for new-build renewables doubtful to meet net zero: The current market and options available for new-build renewables are inadequate to keep the UK on track to its net zero target. According to National Grid Future Energy Scenario (FES), the UK needs approximately 87-113GW (scenario dependent) of renewables capacity by 2030 and 197-231GW by 2050.…
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British Utilities - Union Flag

Cornwall Insight spoke on launch of the UK ETS scheme

Cornwall Insight spoke on launch of the UK ETS scheme: The first auction for the UK Emissions Trading Scheme (UK ETS) was held last week on 19 May 2021, between 12:00-14:00, hosted by the Intercontinental Exchange (ICE). The auction cleared at £43.99/t, providing a total carbon price of £61.99/t. Following the launch of the first…
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British Utilities - Union Flag

Cornwall Insight comments on the revival of STOR

Cornwall Insight comments on the revival of STOR: On 1 April, National Grid ESO commenced procuring Short Term Operating Reserve (STOR) at the day-ahead stage, reviving the STOR procurement service since it was halted back in December 2019. The roll-out of this new post-fault response service aims to help respond to frequency events faster. It…
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British Utilities - Union Flag

Government to support 12GW renewable energy capacity

Government to support 12GW renewable energy capacity: The government has laid out plans for the upcoming round of support for renewable energy projects covered by its flagship Contracts for Difference (CfD) scheme. It looks to double the volume of renewable energy from the 5.8GW accomplished in the previous round to up to 12GW when the…
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British Utilities - Union Flag

Parameters for new capacity auctions set out

The parameters for the next Capacity Market (CM) auctions to ensure the UK continues to have sufficient electricity capacity to meet demand, have been set out by The Department for Business, Energy and Industrial Strategy (BEIS). In a letter from Kwasi Kwarteng, Minister for Business, Energy and Clean Growth, he confirms the parameters for the…
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