Belinda Ellington

So what should you focus on and invest into to support the UK's energy transition? 💹 Well, WBD's Sebastian Briggs outlines how you can take advantage of all of the investment opportunities the energy sector has to offer in his video ▶️ https://ow.ly/X0Pr30sC3I0

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According to a report by Oxford academics, approximately two-thirds of the UK’s 57 energy-from-waste facilities could readily accommodate carbon capture technology. This finding is significant as it suggests that implementing CCS in EfW plants could effectively address up to 78% of the sector's emissions. This makes EfW a prime candidate for CCS deployment amid the government's decarbonisation efforts. #CarbonCapture #EfW #Decarbonisation

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In this week's #EnergyTransition we look at: ⚡ The government's call for evidence to inform changes to the Capacity Market; ⚡ UK and Scottish governments' agreement to boost clean energy investment; ⚡ Extension to Climate Change Agreement tax incentive scheme; ⚡ Appointment of energy experts to Clean Power Advisory Commission #CapacityMarket #CleanPower #NetZero #EnergyTransition

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2 important UK consultations have landed if you're active in the #waste, #carboncapture and/or #greenhousegas removals space. One on the proposed expansion of the #ukets to cover #energyfromwaste and #wasteincineration. The other on plans to expand the UK ETS to include UK based greenhouse gas removal techniques. #energytransition #netzerocarbon

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CfDs have become a widely used instrument remarkably quickly but this does not mean that they are easy to design and implement.

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❗ 2 x updates for energy flexibility yesterday ❕ ➡ Ofgem announced that Elexon will serve as the Market Facilitator for local energy flexibility. ➡ Ofgem also launched a consultation for a Flexibility Market Asset Register (FMAR) aka a one stop flexibility shop. This new system which would provide a single point of registration for flexible consumer assets to participate in national Electricity System Operator (ESO) markets for ancillary and balancing services and local Distribution System Operator (DSO) markets (which currently cover five standard products). This would move away from the current system where Flexibility Service Providers (FSPs) (who aggregate assets on behalf of consumers) must sign up multiple times for each individual market. Data is instead 'collected once, stored as a single source of truth by a trusted entity, and can be accessed by multiple users who need it’. 🏡 The FMAR will first target >1MW small-scale domestic and small business assets, particularly flexible domestic assets like EVs, heat pumps, and home battery storage systems. Reducing barriers to entry for demand side flexibility is critical if we want to build a low carbon energy system & also ⬆ consumer participation. Tangible benefits in consumer bills & getting excited about flexibility -> spreading the word to your neighbours!

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2024 has been a busy year for the Grey Epoch team, celebrating multiple accomplishments in the energy industry. We are delighted to share we have been recognised in the following: • Energy Risk Awards - Liquidity Provider of the Year   • Energy Risk Commodity Rankings - #2 European Union Emissions Trading System; #2 UK Emissions Trading Scheme • Environmental Finance Rankings - #2 EU - Best Trading Company, Options & Futures #Winners #CarbonMarket #energy

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𝐔𝐧𝐢𝐩𝐞𝐫 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐬 𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐠𝐚𝐬 𝐬𝐮𝐩𝐩𝐥𝐲 𝐜𝐨𝐧𝐭𝐫𝐚𝐜𝐭𝐬 𝐰𝐢𝐭𝐡 𝐆𝐚𝐳𝐩𝐫𝐨𝐦 𝐄𝐱𝐩𝐨𝐫𝐭 Today, Uniper decided to terminate its long-term gas supply contracts with Gazprom Export. This was made possible after an arbitration tribunal on June 7 awarded Uniper the right to terminate the contracts. Additionally, the tribunal awarded an amount of more than €13 billion in damages for the gas volumes not supplied by Gazprom Export since mid-2022. Any amounts would flow to the German federal government. 𝐌𝐢𝐜𝐡𝐚𝐞𝐥 𝐋𝐞𝐰𝐢𝐬, 𝐔𝐧𝐢𝐩𝐞𝐫 𝐂𝐄𝐎, 𝐬𝐚𝐲𝐬: “This ruling provides legal clarity for Uniper. Our termination of the contracts with Gazprom Export is the latest in a series of consistent decisions over the last three years. During this time, Uniper has written off its share in the financing of the Nordstream 2 pipeline, its stake in the Russian subsidiary Unipro and allowed its coal supply contracts with Russia to expire. Since then, Uniper has worked hard to diversify its gas business and is now well positioned with its global LNG portfolio and pipeline gas supplies from various regions.” Link to press release: https://bit.ly/45nYfDh #Uniper #EnergyTransition #Sustainability #TheBeatingHeartOfEnergy

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Here's a snapshot of the #WESM trading results for 15 August 2024: For other daily significant variations reports, visit our website or click this link: https://bit.ly/IEMOP-DSVR *the prices in WESM only affect the volume of energy bought from the spot market. Energy sourced by Distribution Utilities through Power Supply Agreements are settled outside WESM where the contractual agreement determines the price. For other concerns or inquiries, feel free to send them in via the IEMOP Central Ticketing System at https://cts.iemop.ph #IEMOP #ElectricityMarket #WeRunMarkets

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November 18th, 2024: The UK's energy market this morning is marked by a mix of market reactions and geopolitical developments. The gas market is seeing notable attention following Russia’s move to halt gas supplies to Austria over the weekend. This suspension follows OMV’s arbitration case win and previous warnings about potential contractual breakdowns with Gazprom, signaling wider implications for European energy security. However, as of today, the impact is somewhat moderated with a recorded drop of 40 GWh/day, rather than an abrupt cessation. UK gas prices reflect these tensions but remained mixed overall. The NBP day-ahead price settled at 115.50 p/therm, down by 1.25 p/therm compared to the previous session. This decline comes amid ongoing cooler weather patterns projected to deepen until November 22nd before temperatures rise slightly. Additionally, seven LNG cargoes are set to arrive in the UK over the next month, providing some balance to supply concerns despite interruptions in the Norwegian shelf, which saw an unplanned 7 mcm/day outage expected to be resolved by tomorrow. Total Norwegian gas exit nominations stood at 333.7 mcm/day. The UK power market also saw fluctuations. The day-ahead baseload price dropped significantly to £89.10/MWh from £101.00/MWh, indicating a decrease of £11.90. Peak power prices followed a similar trend, falling to £96.83/MWh. Despite these declines, forward contracts for 2025 showed support, with renewable generation potential bolstered by the recent UN Climate Change Conference’s commitment to a Global Energy Storage and Grids Pledge aimed at expanding energy storage infrastructure to 1.5 TW by 2030. In broader commodity movements, Brent crude oil saw a dip, with M+1 contracts trading at $71.04/bbl, reflecting a decline of $1.52 from the previous session. This softening in oil prices comes amidst global market recalibrations and expectations around economic activity. Coal prices, conversely, strengthened to $127.28/tonne for ARA CIF Cal Y+1 contracts, signaling continued demand despite a shifting focus toward lower-emission energy sources. Carbon markets remained relatively stable, with EUA Dec 24 certificates trading at €68.01/tonne and UK ETS Dec 24 at £38.16/tonne. The currency market today shows the pound trading at 1.1983 against the euro and 1.2617 against the dollar, both marking slight decreases from last week’s levels. These fluctuations come as investors digest ongoing economic data and potential impacts from geopolitical tensions in the energy sector. This mixed landscape underscores the complex interplay of geopolitical, supply, and policy-driven factors currently shaping the UK’s energy market.

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An interesting and more in depth look at Labour’s GB Energy proposals. If GB Energy is to succeed (in the long term) then supporting newer technologies like #hydrogen will be important, and it was interesting that hydrogen was the first word out of Keir Starmer’s mouth on energy during the first #debate. #energy #cmslaw #cmsplanning

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The EU is making changes to cultivate a secure, diverse and sustainable supply of critical raw materials 🆕 As these are important for renewables technologies, the CRMA was signed to achieve this goal ✅ WBD UK and US' article explains all ▶️ https://ow.ly/e6EZ30sCbz9

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Foresight Solar held its Annual General Meeting today and the board was pleased that a significant majority of shareholders supported their recommendations. The directors acknowledged, however, that 16.1% of the fund’s total issued share capital—24.5% of the valid votes at the AGM—were cast in favour of Resolution 16. The Board and its advisors maintain an active engagement programme and have regularly consulted with shareholders to better understand their views. Investors expressed a range of preferences to address the headwinds affecting the alternatives sector.   The challenging macroeconomic landscape has also impacted FSFL, and the directors share the frustration with the share price trading at a significant discount to net asset value. Several initiatives are already underway to address the issue, including paying down debt and returning capital via the sector's largest buyback programme relative to NAV.   Alex Ohlsson, chair of Foresight Solar, said: "The board recognises shareholders' concerns and will continue to engage with all shareholders, particularly those that voted for discontinuation. In the meantime, the directors will deliberate further on what additional strategic actions may best address these views in the near term." Read the full announcement here: https://lnkd.in/e_2rVp_3

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In Glencore Energy UK Ltd v NIS JSC Novi Sad [2023] 370 (Comm), based on the prevailing market rate for storage charges in respect of contaminated oil, the defendant had been paid 50% too much under a performance bond. But was the claimant oil trader entitled to repayment of sums paid out to the defendant under a performance bond? In this latest insight article, Emlyn Hudson, Hayley Sullivan and Holly Howarth detail the outcome of the case and the important reminder it provides around bond wording if there is a risk of overpayment 💡 Read more here 👇 #suretybond #sureties #constructioninsight

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Here’s a sneak peek at an article by Pickering Energy Partners from our October issue of LNG Industry for the #PreWeekendPreview. In this article Dan Romito, Managing Director, Consulting & Advocacy, considers how generative artificial intelligence will inevitably aid in the proliferation of LNG across Europe. As the EU’s LNG market becomes increasingly burdened with additional regulations, it is important to remember Milton Friedman’s words about judging policies by their results, not just their intentions. Countries, particularly those reliant on imports, must balance managing emissions, fostering artificial intelligence (AI), and maintaining capital discipline to ensure future competitiveness. However, recent policy decisions in Western economies seem to pre-emptively select winners rather than take a balanced approach that respects the laws of the market. Understandably, the EU wishes to compete in the generative AI economy. In contrast, the EU is also drastically augmenting the regulatory barriers prohibiting member countries from accessing natural gas. Natural gas is the proverbial peanut butter to generative AI’s jelly. Luckily for the world, it is also an energy source that allows economies to decarbonise and expand GDP per capita. For the foreseeable future, the reliance on natural gas and the evolution of AI will be connected at the hip, with natural gas serving as the lifeblood of the broader AI ecosystem. This interconnectedness is not a matter of preference, but rather a fundamental reality that must be accepted. Natural gas is the cleanest and most efficient energy source readily available to man, and it can effectively handle the forecasted demand for power. Regardless of the preferences of certain policymakers, everything is bound by the laws of physics, mathematics, and economics. The recent dynamics of the energy debate in the EU highlight a significant disconnect, where energy policy, long-term government goals, capital discipline, and economic reality are completely misaligned. It is crucial for developed economies to recognise generative AI as the next wave of economic prowess and opportunity. Therefore, a clear and realistic strategy is important and urgent to support generative AI’s capabilities and enormous energy demand. To read the rest of the article, and for more on all things LNG, sign up for your FREE trial of the magazine here 👉 https://bit.ly/3p3QotC #PreWeekendPreview #LNG #Decarbonisation #EnergyEfficiency

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We’ve released a draft Gas ring-fencing decision guide to inform pipeline operators of their obligations and how the AER will go about making decisions in this area of regulation. It’s a new guide that’s come about from changes in the National Gas Rules following the AEMC’s review into extending the regulatory frameworks to hydrogen and renewable gases. We are seeking feedback from interested stakeholders on whether the content of the draft guide is fit for purpose and clear on the processes for applications and AER’s assessments. Submissions close on 4 October 2024. To find out more and have your say, go to >> https://lnkd.in/dPwdz9K3 #Energy #Gas #Transmission #Distribution #Consultation #Stakeholders

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We’re launching a new consultation to discuss reforming the retail energy market and champion consumers through the direct regulation of Third-Party Intermediaries (TPIs), such as bill aggregators, energy brokers and price comparison websites. This will: ☑️ Tackle rogue TPIs and other poor practices ☑️ Protect businesses and consumers from unethical practices like hidden fees and lack of access to dispute resolution ☑️ Boost fair competition, technological innovation and encourage energy-saving measures and carbon reduction in a new, greener and more transparent market https://lnkd.in/eRQPnRSs

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