Guy Turner

Dedicated Energy Hubs Needed to Transform Scotland into Leading Hydrogen Producer   The Net Zero Technology Centre (NZTC), has today [27 June 2024] launched its ‘Energy Hubs: Fill the Backbone’ report, providing recommendations that will help scale Scotland’s hydrogen production potential and establish itself as a leading exporter of green hydrogen through the development of large-scale energy hubs. 🔽 Find more info in comments below 🔽 #EnergyHubs #Scotland #HydrogenProduction #CleanEnergy #RenewableEnergy #GreenHydrogen #OilandGas #RenewableEnergy #GreenEnergy ⤵️ Click Follow on our page to keep up to date with energy news ⤵️

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Partner's News The Energy Hubs – Fill the Backbone report by Hydrogen Scotland member Net Zero Technology Centre highlights the emerging opportunity to export green hydrogen from Scotland into the expanding hydrogen market in Europe. Economic modelling indicates that a 10 GW scale Energy Hub in Scotland producing green hydrogen from floating offshore wind could produce hydrogen for £3.90/kg. To capitalise on this opportunity, Scotland will need to develop strategic Energy Hubs in time to meet this growing demand. https://lnkd.in/gPJgp5SC

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How can hydrogen power data centres, and industry? Our new whitepaper, which is being launched in partnership with Ceres and Centrica, explains everything. Like traditional thermal generation, an SOFC unit uses a gas to create power. Whether this is hydrogen, biomethane or natural gas it does it without combustion to provide highly efficient, quiet, clean power. Ben Richardson, head of electrolysers & SOFC at Bosch UK, said: “One of hydrogen’s strongest use cases is to use it for power. Coupled with local hydrogen production this not only bolsters the UK’s energy security but it provides power when renewables such and wind and solar cannot.” Click here to read the whitepaper: https://bit.ly/3Zc8Tvd

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Market brief - 9th July Rachel Reeves spoke of the need to “unblock” infrastructure projects and encourage private investment in public projects. She plans end the ban on onshore wind farms and re-introduce house-building targets. The Chief Executive of the industry body, Offshore Energies UK, said the sector and investors were deeply concerned over Labour's plans for a windfall tax on energy companies. Starmer is due in Washington for a NATO Summit and we can expect his position on Gaza to come under closer scrutiny. Over in the US there are growing fears that the Fed may have over-egged the pause in monetary policy. Powell has said that he wants the Fed to make pro-active decisions on monetary policy, rather than being forced to change rates due to economic conditions, but fewer jobs were created in Q2 than Q1 and GDP is expected to be lower in Q2 than Q1, so those concerns are creeping into the conversation. There have been some violent clashes in France as a left-wing coalition won the parliamentary elections, beating Le Pen’s far-right National Rally into third place but the Euro remains relatively unaffected, closing around 1.0825 yesterday. GBP was around 1.2810 against USD 1.1830 against EUR and EURUSD was around 1.0830 on the open. #Finance #FxPlew #news

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As of today Wednesday 9th October, the UK energy market remains volatile, with key developments shaping the landscape across gas, power, oil, and carbon markets. Gas prices have softened, with the UK NBP Day-Ahead (DA) price settling at 94.35 p/therm, reflecting a decrease from yesterday's levels. The market has reacted to forecasts of milder temperatures expected next week, easing some pressure on demand, particularly as LNG arrivals in Europe continue at a steady pace. Norway's gas exports remained stable at 311.2mcm/day, despite a five-day extension to maintenance at the Kristin gas field, now set to resume operations on October 14. Looking at UK gas demand, the system has opened 19mcm/day long this morning. Lower-than-average temperatures, around three degrees below seasonal norms, have led to a rise in UK LDZ demand. Gas-for-power demand is also up as wind speeds have dipped, reducing renewable generation over the next five days. However, wind levels are expected to rebound after this period. On the LNG front, send-out nominations remain stable at 12mcm/day, with three cargoes expected to arrive in the UK before October 27, alongside a number of deliveries scheduled for Northwest Europe. In the oil market, Brent crude prices edged higher to $77.18/bbl, bolstered by ongoing geopolitical tensions in the Middle East and lingering concerns over the Chinese economy. Despite this, the price reflects a sharp $3.75 drop from the previous day, suggesting uncertainty continues to cloud the market outlook. UK power prices have followed a similar downward trend. The Day-Ahead Baseload price has fallen to £81.19/MWh, down from £89.09/MWh the previous day. Cooler temperatures have driven up heating demand, but lower wind generation is expected to remain a factor in driving up gas-for-power demand in the coming days. Market sentiment indicates that the decline in power prices could be temporary as forecasts suggest wind generation will pick up next week, stabilising the mix of energy supply. Carbon prices, however, have eased, with the EUA Dec 24 trading at €60.29/tonne. The UK ETS also saw a slight uptick to £36.01/tonne, reflecting some of the broader market uncertainties linked to energy prices and upcoming weather forecasts. Storage levels across Europe remain high at 94.61%, keeping a lid on any further risk premium being priced into gas markets, despite the approaching winter season. UK individual gas storage sites are similarly well-stocked, providing some reassurance to market participants. The interplay of LNG arrivals, storage capacity, and weather-driven demand will continue to influence market prices across the board. With colder weather expected, gas demand is set to stay elevated, but a recovery in renewable output may ease the pressure. Keep an eye on developments in the geopolitical landscape and economic data from China, both of which will likely weigh on market sentiment and energy prices moving forward.

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End of Day Market Update September 2nd: Energy Markets See Mixed Movements Amid Market Corrections As the trading day drew to a close, energy markets presented a complex and varied landscape, reflecting a mixture of retracement, corrections, and slight gains across key sectors. The UK front-month gas market, in particular, experienced a noticeable sell-off, likely driven by a retracement after reaching recent highs. This decline underscores a potential cooling off in market exuberance as traders reassess positions in response to evolving market dynamics. By the end of the day, the front-month UK Power contract had slipped to £79.00, marking a substantial decline of 2.71%. This drop reflects broader concerns about demand and supply imbalances in the energy market. In tandem, the National Balancing Point (NBP), which serves as a key benchmark for gas trading in the UK, also experienced a significant downturn. Prices fell by 2.97%, ending the day at 93.29p. This downward movement suggests a broader re-evaluation of gas market fundamentals, potentially influenced by factors such as fluctuating demand forecasts and the ongoing adjustments in energy supply chains. Conversely, the carbon market offered a different narrative, with the December 2024 European Union Allowances (EUA) posting a modest gain. The EUA's price edged up by 0.18% to close at €70.43, reflecting continued interest in carbon trading as market participants anticipate future regulatory impacts and the ongoing shift towards more sustainable energy practices. However, the UK Allowances (UKA) market diverged from this trend, with prices falling by 1.5% to settle at £42.66. This decline may indicate regional variations in carbon market dynamics or differing expectations regarding carbon pricing mechanisms within the UK context. Meanwhile, Brent crude oil, a global benchmark, maintained relative stability throughout the trading session. After slight fluctuations, Brent crude closed the day with a marginal loss of 0.04%, bringing the price to $76.90. This stability suggests that the oil market is currently in a holding pattern, with traders awaiting clearer signals from global economic indicators and geopolitical developments. Overall, today’s market activity paints a picture of a market in flux, with energy prices adjusting in response to a complex interplay of supply, demand, and regulatory factors. The divergent trends across different sectors—gas, power, carbon, and oil—highlight the importance of a nuanced approach to market analysis as participants navigate these challenging and unpredictable conditions. As these trends continue to evolve, market watchers will be keenly observing for signs of further corrections or potential rebounds in the days ahead.

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Watch our Weekly #EnergyMarket Review! 📈 This week we highlight the key drivers affecting UK gas and power markets last week. We review global gas prices, global power prices and provide analysis of the UK's power price curve. You can subscribe to our free Daily Market Reports here: 🔗 https://lnkd.in/ejmbhwns Or contact our trading desk via: 📧 [email protected] Watch our analysis below for more information! 👇 #EnergyMarkets | #EnergyTransition | #BusinessEnergy | #EnergyPrices | #EnergyIndustry | #LNG | #FossilFuels | #EV | #ClimateAction | #NetZeroTransition | Latif Faiyaz | Julian Hernandez | Alison Bierlaire | Edward Bilton | Ian Muir | lukas walsh | Kaspar Strugar | Amelia Santerre

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Watch our Weekly #EnergyMarket Review! 📈 This week we highlight the key drivers affecting UK gas and power markets last week. We review global gas prices, global power prices and provide analysis of the UK's power price curve. You can subscribe to our free Daily Market Reports here: 🔗 https://lnkd.in/ejmbhwns Or contact our trading desk via: 📧 [email protected] Watch our analysis below for more information! 👇 #EnergyMarkets | #EnergyTransition | #BusinessEnergy | #EnergyPrices | #EnergyIndustry | #LNG | #FossilFuels | #EV | #ClimateAction | #NetZeroTransition | Latif Faiyaz | Julian Hernandez | Alison Bierlaire | Edward Bilton | Ian Muir | lukas walsh | Kaspar Strugar | Amelia Santerre

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ESNZ Committee looking forward to exploring ideas with GB Energy about its role in the race for clean energy.   On Wednesday 20 November the newly reappointed Energy Security and Net Zero Committee will hold its first public evidence session in Parliament, looking at the role that Great British Energy (GBE) is expected to play in the energy market.     The flagship publicly-owned energy company, “designed to drive clean energy deployment, boost energy independence, create jobs” was announced with an initial £8 billion budget to 2029 as part of major new Government commitments on achieving clean energy.     But with only £100 million earmarked for investment in renewables in the next two years, questions have already been raised about the impact it can have on the Government’s 2030 clean energy target.   The Committee will question the new Chair of GBE Professor Juergen Maier CBE FRS FREng. Director at GBE Tim Cullen recently admitted that it is not yet clear how the remit of GBE to invest in clean power projects and infrastructure will sit alongside a newly created National Wealth Fund. One of the questions from the select committee on Wednesday will be whether it is being setup in an appropriate way to achieve its ambitions without distorting existing investment.   Will it learn the lessons from previous UK and current EU state-owned companies and be able to drive private investment? Will it have an impact on the core aim of lowering consumer energy bills?     The Committee will also question the Chair at Great British Nuclear (GBN), another publicly owned company, established only about a year ago with the remit to “drive the delivery of new nuclear energy projects in the UK” and contribute to meeting the UK’s legally binding 2050 target for a net zero economy.

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Today 16th October’s UK energy landscape reflects shifting dynamics across gas, power, and renewables, with mild temperatures and steady LNG inflows shaping the market. Gas prices on the NBP day-ahead market settled at 96.00 p/therm, slightly lower than the previous session, as the system opened this morning undersupplied by 22 mcm/day. While piped flows from Norway remained flat, UKCS production decreased to 102 mcm/day. LNG send-out from South Hook and Isle of Grain provided 14 mcm/day, with additional LNG cargoes expected in the coming weeks to support the UK’s supply. Power prices followed suit, with the day-ahead baseload settling at £67.88/MWh, a sharp decline from yesterday’s £87.12/MWh, reflecting higher wind generation and milder demand expectations. However, as wind forecasts predict output dropping below seasonal norms in the coming days, gas demand for power generation could increase, potentially influencing prices upward. On the supply side, nuclear availability remained steady despite several ongoing outages, including units at Heysham and Torness. Weather forecasts suggest today will be the warmest of the month so far, with temperatures expected to stay above seasonal norms until the end of October. This trend is contributing to softer demand for heating, easing pressure on both gas and electricity markets. Meanwhile, carbon prices also eased slightly, with EUA Dec 24 certificates trading at €65.09/tonne, and the UK ETS market at £39.04/tonne, reflecting reduced short-term emissions intensity. Currency movements saw GBP/EUR at 1.1997, while GBP/USD edged up to 1.3072. With three LNG cargoes set to arrive soon and strong Norwegian flows to the continent, market fundamentals appear stable, though fluctuations in wind generation may drive volatility in power prices in the days ahead.

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The UK renewable energy sector has seen significant growth due to governmental support, technological advancements, and a global shift towards sustainability. Collaborate with leading firms that are at the forefront of technological development and sustainability practices. Leverage the knowledge and expertise of our partners to identify robust investment opportunities that promise strong returns. Engage directly in renewable projects by investing in companies that are developing new technologies or expanding existing operations. Consider fixed-income investments that fund environmentally-friendly projects, providing stable returns while supporting sustainability. Utilise the expertise of our partners to stay informed about market trends, regulatory changes, and technological advancements. We invite you to explore these innovative investment opportunities within the UK’s renewable energy sector. Together, we can not only achieve financial growth but also contribute to a sustainable future. For more details on specific investment opportunities or to schedule a consultation, please get in touch with our investment team. #SustainableInvestment #RenewableEnergy #Sustainability #OnshoreWind #GreenFuture #ClimateAction #EconomicGrowth #iDiverse #alternativeinvesting

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Scotland’s climate targets revised: Industry response. Industry leaders express disappointment over the Scottish Government’s decision to retract climate targets, emphasising the importance of maintaining investor confidence. Climate Change Committee Scottish Renewables Claire Mack The Association for Decentralised Energy #energybills #energycosts #energycrisis #energyefficiency #energyprices #energytransition #gasprices

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6th November 2024: UK energy markets are navigating a landscape marked by tightening gas supplies, volatile power demand, and the shifting influences of global commodities. This morning’s gas prices settled with NBP Day-Ahead at 102.60 p/therm, reflecting mixed market signals. Reduced output from Norway’s Visund gas field yesterday, due to unplanned maintenance, has now resumed but highlighted the delicate balance of UK gas supply. Meanwhile, demand for gas in power generation remains elevated, exacerbated by limited wind generation expected over the next few days before a brief pickup ahead of the weekend. Today’s power market sees UK Day-Ahead Baseload at £118.48/MWh, with peak prices reaching £146.12/MWh. This surge is tied to reduced renewable generation as both wind and solar production remain low, primarily due to persistent cloud coverage and minimal wind speeds. Nuclear constraints also weigh in, with two reactors offline, totalling 1.2 GW of unavailable capacity. These reactors are expected back online in late November and early December, underscoring the near-term pressure on UK baseload power stability. The UK’s reliance on LNG continues, with three cargoes inbound over the coming days to ease the supply strain. LNG has become an increasingly vital component in balancing UK energy needs, especially as colder months approach. Across the continent, Northwest Europe is also set to receive substantial LNG imports, adding to the supply pool yet facing the same regional weather constraints affecting renewable generation. In the broader energy landscape, Brent crude oil is steady at $75.53 per barrel, while coal remains strong at $120.97/tonne for next year’s ARA CIF contract. Carbon markets reflect moderate changes with EU allowances (EUA) at €64.30 per tonne and UK ETS at £38.34 per tonne. These values underscore the dual pressures of regulatory carbon targets and market adjustments to evolving demand. Today’s session highlights the ongoing dynamics between domestic production, international imports, and the variable output of renewables in shaping the UK’s energy market. As supply adjustments unfold, close monitoring of gas flows, nuclear capacity, and renewables will be key to maintaining equilibrium in both pricing and availability across the market.

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Infrastructure is key to delivering Scotland's offshore wind ambitions. Strategically placed at the heart of Scotland's offshore renewables opportunity, global hub for floating offshore wind Inverness & Cromarty Firth Green Freeport is brimming with potential. With Green Freeport status, its benefits include: ✅ Tax relief incentives ✅ Enhanced capital allowances ✅ Streamlined customs procedures ✅ Duty-free import and export Choose this location and you can be part of our huge 45GW offshore wind market with a 20-30 year project pipeline. Not to mention our commercial-scale green hydrogen production and export opportunities 📈 With plans to establish itself as a world-leading floating offshore manufacturing hub, discover why this net zero driven prospect is too valuable to overlook 👉 https://ow.ly/ole650SjUgB I'll be speaking about Scotland's collaboration efforts to deliver transformational supply chain growth at next week's Australia Wind Energy 2024 conference. Inverness & Cromarty Firth Green Freeport is a key part of this effort. #ScotlandIsNow #Renewables Baris Atayman Cindy Callander Linda Miles Ben Jowett Richard Baker Richard Burch David Rennie Simon Wallace Stefan Bengtsson

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Is delivering the energy transition the hottest topic in utilities right now?🔥 Ben Wilson, Chief Strategy & External Affairs Officer, National Grid is live on Green Stage giving his keynote 'Delivering the energy transition: a view from National Grid’. Join him now to discover what the road to Net Zero holds. #FoUSummit24 #energy #utilites #NetZero #energytransition  

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NEW REPORT on GB Energy, and the role of the state by @nesta_uk and @Baringa. This work underpins some of what is being announced today. 🧵 https://lnkd.in/eD75Rw3j Report argues for 4 enhanced roles for the state: first, as a planner or 'system architect', second, as a 'pre-developer'; third, as investor; fourth as enabler. What benefits will this bring? 1) Speed: offshore wind deployed 2 to 4 years faster due to enhanced coordination and efficiencies in project development and deployment. 2) A transfer of up to £35bn from producers to consumers out to 2050 for offshore wind alone 3) Savings of up to c. £1bn in regret development expenditure for offshore wind projects that ultimately fail, with similar benefits possible for onshore projects. 4) A reduction in constraint costs which are projected to reach £3bn per year in the late 2020s. 5) Greater certainty for supply chain, leading to more investment and domestic capacity. 6) More efficient and resilient deployment of network infrastructure and system assets, reducing total cost. 7) Acceleration of innovation and commercialisation of new technologies.

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