This week's energy market update highlights several key developments affecting supply dynamics and pricing trends. The UK is set to receive four new LNG-laden vessels, a crucial addition due to the anticipated reduction in LNG flow from major Nordic refinery outages at Troll and Kollsnes....
Leading industry analysts anticipate a reduction in the price cap for average household energy bills this summer to £1574 annually, down by 7% from the current £1690 level, according to Cornwall Insights. Ofgem is set to announce the new price cap for the July to...
A new report forecasts that annual investment in the UK's offshore wind sector will increase from £7.7 billion to £15 billion by 2030, potentially climbing to £29 billion by 2035. A new report by Offshore Energies UK (OEUK) identifies significant opportunities and challenges for expanding offshore...
New data reveals a significant milestone in the global energy landscape, renewable sources accounted for over 30% of the global electricity supply. This surge is primarily attributed to the rapid expansion of wind and solar power, marking a notable shift away from traditional fossil fuel...
Climeworks has launched Mammoth, the biggest direct air capture and storage plant globally, in Iceland, aiming to trap around 36,000 tonnes of carbon dioxide each year Climeworks has recently unveiled Mammoth, a groundbreaking endeavor that stands as the world's largest direct air capture and storage plant,...
Energy Market Update In this energy market update we discuss the increase in temperature and its effect on gas consumption as well as wind power generation being expected to plummet by 50% This week's temperature outlook for Britain presents an unusual scenario, with meteorologists predicting a substantial...
In the first quarter of 2024, close to 6,000 new Electric Vehicle charging stations were installed In the dynamic landscape of the United Kingdom's transportation sector, the first quarter of 2024 marked a significant surge in the deployment of electric vehicle (EV) chargers, indicative of the...
The exponential growth trajectory of energy storage deployments continues to astound experts, with the momentum from 2023 showing no signs of slowing down in 2024. The latest insights from BloombergNEF underscore this ongoing trend, shedding light on China's predominant role in installations, driven by robust co-location...
In March, Solar Power installations peaked for the year, yet fell short of early 2023 figures As of the end of March 2024, the UK boasts a total solar capacity of 15.8GW across 1,483,386 installations, marking a 5.6% increase (837MW) since March 2023 in the solar power industry. There...
Geopolitical tensions in the Middle East have driven fluctuations in the UK energy market, reflecting its response to global events. UK gas and power prices experienced fluctuations throughout the week, but towards the end of last week and the beginning of this week, volatility began to...