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Cornwall Insight reacts to BEIS meeting on REMA

Cornwall Insight reacts to BEIS meeting on REMA Gareth Miller, Chief executive at Cornwall Insight said: “Confirming the Review of Electricity Market Arrangements (REMA) opens the prospect of a complete overhaul of the electricity market in Great Britain, for the first time in over 20 years. The scope is very wide, and the perceived need…
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Profound transition for UK energy sector

Profound transition for UK energy sector The UK’s electricity sector is in a process of profound transition, Energy UK has stated. As the UK needs to cut out the sector’s resting carbon emissions, it also needs to increase domestic power generation capacity to meet electricity needs that is set to boost up by more than…
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£285m of government funding earmarked for renewables

£285m of government funding earmarked for renewables: Applications for the government’s largest ever Contracts for Difference (CfD) auction have closed with applicants competing for a slice of £285mn a year worth of investment in a wide range of both established and less established renewable technologies. Allocation Round (4) is loosely aiming to secure around 12GW…
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PM: UK will be the Klondike of carbon capture & storage

PM: UK will be the Klondike of carbon capture & storage: Boris Johnson has now revealed the government’s aspiration to make the UK the Klondike of carbon capture and storage also the Qatar of hydrogen. Talking to the Global Investment Summit Boris Johnson said the private sector has an important role to play in the…
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Network & policy reforms affect private wire arrangements

Network & policy reforms affect private wire arrangements

Network & policy reforms affect private wire arrangements: In recent years, many businesses have been able to save money by consuming power generated from their own sites. Many of these savings have arisen because some network and policy costs are avoided in comparison to purchasing electricity off the grid. As a result, these private wire…
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48.9GW of new renewables projects in the scoping stages

48.9GW of new renewables projects in the scoping stages

48.9GW of new renewables projects in the scoping stages: Renewables projects labelled as “scoping” currently represents 50% or 48.9GW of the total viable pipeline capacity*, according to the latest analysis from Cornwall Insight. Of this 48.9GW “scoping” total, 38.6GW is from offshore wind, 5.0GW from battery projects, 3.0GW from onshore wind and 1.5GW from solar…
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High wholesale prices & negative pricing expected to grow

High wholesale prices & negative pricing expected to grow: Research from Cornwall Insight’s Benchmark Power Curve, which forecasts the power market to 2045 under different net zero scenarios, highlights volatility in the wholesale power market is set to increase. Its central case scenario predicts that the standard deviation of hourly wholesale prices could reach £41.8/MWh…
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Cornwall Insight PPA Market share survey

Cornwall Insight PPA Market share survey: The Power Purchase Agreement (PPA) market for renewable assets continues to be highly competitive, according to the latest survey results from Cornwall Insight’s PPA insight service. In fact, the PPA market for renewable generation assets has seen a significant rise in the £/MWh value achieved by generators, particularly in…
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Brexit impacts | Divergent

Brexit impacts | Divergent electricity prices

Brexit impacts | Divergent electricity prices: Since the start of the year, as a result of Brexit, Great Britain‘s (GB’s) internal and cross-border trading has been temporarily decoupled from European power exchanges. This is expected to result in less efficient trades; interconnector flows and divergent electricity prices between power exchanges. Research from Cornwall Insight examining…
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Current offshore wind pipeline falls short of 40GW by 2030

Current offshore wind pipeline falls short of 40GW by 2030

Current offshore wind pipeline falls short of 40GW by 2030: Latest figures from Cornwall Insight’s ‘Renewables pipeline tracker report‘ show that even if all current offshore wind sites with leasing are developed in the coming years, total offshore wind capacity would only reach 29.7GW by 2030. The report currently tracks 22 sites across both floating…
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