Electricity was cheaper and cleaner during lockdown

Electricity was cheaper and cleaner during lockdown: During the coronavirus lockdown the UK’s electricity system was cheaper and cleaner but harder to control. A new independent analysis has found that was conducted for Drax Electric Insights via Imperial Consultants by academics from Imperial College London. Lowered demand was caused by businesses closing and people working…
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2020 global gas demand could shrink by 4%

Equivalent to 150 billion cubic metres, global gas demand could shrink by 4% in 2020. An International Energy Agency (IEA) recent report claims and predicts the dip in demand across energy markets in North America, Europe and Asia could account for 75% of the total decline in 2020. The Covid-19 crisis could result in a…
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The effects of lockdown on the Balancing Mechanism

The effects of lockdown on the Balancing Mechanism: The COVID-19 pandemic and its subsequent lockdown restrictions have impacted GB’s energy market, with record low demand and wholesale prices. These changes in market conditions have seen National Grid as the Electricity System Operator (ESO) face operational challenges in balancing the electricity system.   Research from Cornwall…
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COVID-19 impacts on the TPI industry

COVID-19 impacts on the TPI industry: While the discussion continues around the impacts of COVID-19 on energy suppliers, the effects have reached all parts of the energy value chain. The latest research from Cornwall Insight’s ‘Third-party intermediaries in the business and industrial energy supply market report’ highlights the effects of the COVID-19 lockdown on the…
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Renewable generator revenues fall due to lockdown

Renewable generator revenues fall due to COVID-19 lockdown: Research from Cornwall Insight’s Green Power Forecast reveals there has been a sharp decline in generator revenues. Solar and wind technologies have been particularly impacted by low demand levels due to the COVID-19 lockdown.   Solar PV captured prices were, on average, 8.4% and 14.9% below baseload…
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COVID-19 impacts: reduction in inertia levels

COVID-19 impacts: reduction in inertia levels: Analysis by Cornwall Insight reveals that inertia* levels have been falling over time as the proportion of synchronous generation has declined. The below graph highlights the drop in inertia and shows 2020 levels are significantly lower.   While we are not even halfway through the year the shape of…
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20% drop in weekday Irish electricity demand

20% drop in weekday Irish electricity demand due to COVID-1: With a large proportion of specific sectors throughout Ireland having either closed or scaled back their operations due to COVID-19; a significant drop in Ireland’s electricity demand on weekdays has been observed.   In fact, research from Cornwall Insight Ireland, comparing the first week in…
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Negative wholesale prices in the SEM

Negative wholesale prices in the SEM –  comments by Cornwall Insight Ireland : On 5 April, the Irish Single Electricity Market (SEM) experienced a negative day-ahead trading price for almost the whole day.   The below graph shows the day-ahead market starting at -€6.0/MWh, before falling as low as -€14.5/MWh at 2:00 pm. Overall, the…
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Number of sub-800MW demand periods double and sub-700MW quadruples in just a year

Number of sub-800MW demand periods double and sub-700MW quadruples in just a year: On the 6 February, AEMO issued market notice 73857 in response to the enduring islanding of the SA network. The notice informed the market that when South Australian (SA) demand falls under 800MW several generators, including more than 500MW of wind and…
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The rise of collaboration in the electric vehicle space

The rise of collaboration in the electric vehicle space   Electric vehicle (EV) collaborations between global automotive manufacturers have started to gather pace. In fact, the latest research from Cornwall Insight’s Charged Up: Future Fleet shows that these ventures have steadily grown since December 2018. With eight of the 13 major car manufacturers having either…
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