Mark Pickering

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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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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The Robert Gordon University Energy Transition Institute has just released a report entitled "'Pathways to a just and fair transition' and I have to say this is an informative must read. Like most people I scan reports, get the yellow highlighter out to score the the quotes that catch my attention and information of particular interest (so I can refer back if need be, and to make life easier for my team when I circulate internally. (❗ Note, we do like to keep our team up to date about industry developments to help build knowledge so they can pass this on to NOF members) . As we all know the UK stands at a pivotal moment and we need to shape a new energy future. By transforming the North Sea into a world class MULTI ENERGY basin, we can power the nation for years to come. The prize for the UK, its workforce, and the supply chain to get this right is huge. But what does a just and fair energy transition look like and how do we know when we are making progress and accomplishing what we set out to do? It comes down to jobs we are safeguarding and creating, investment levels, measuring economic benefit and developing communities whilst delivering a low carbon future, a cleaner greener future delivered by a capable, strong supply chain and a skills base ready to adapt and grow. And of course a clear, transparent and stable (and long term) policy framework to support the ambitions. It also means talking about how far we have come so far, as well as highlighting what still needs to happen in the future. The report also highlights the need for higher UK content in renewables to counter the decline in the UK's oil and gas sector (Totally agree with this one). However, the ongoing importance of oil & gas can not and should not be underestimated. Many NOF members are still very active in oil & gas and will remain so for the foreseeable and the sector remains a priority for NOF The UK has an opportunity to create its own energy future, it is in our gift, re-purposing the North Sea as a world class MULTI ENERGY energy basin. With £200 billion needing to be invested over this decade across oil & gas, offshore wind, CCUS and hydrogen (50% of this still subject to approval by operators and developers...) the supply chain opportunity is massive. An interesting extract.... "Over 90% of the UK offshore energy spend between 2024 and 2030 will be on oil & gas and offshore wind with 10% on a combination of hydrogen and CCUS. If you like facts and figures around investment levels, number of people employed in the industry and some very enlightening multi energy sector pathway scenarios then take a look, all this great information helps the supply chain to shape their future strategies. I thoroughly enjoyed this quick read. Well done Paul de Leeuw and the team at RGU. The full report can be accessed on www.rgueti.com #energytransition #netzero #oilandgas #offshorewind #CCUS #hydrogen

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🔋 Coal-Free UK Boosts Battery Energy Storage Revenues! ⚡ Gresham House Energy Storage Fund (GRID) has reported a significant rise in battery storage revenues following the decommissioning of the UK's final coal plant. This move has helped improve system pricing, boosting GRID's Q3 revenues to £11.7 million, with October marking its best month in 2024. 🚀 Key Highlights: 🔋Increased Revenues: Revenue rates rose to £59k/MW/yr (up from £49k/MW/yr earlier in the year). 🔋UK Leadership: The UK is now the first G7 nation to go completely coal-free, paving the way for clean energy growth. 🔋Market Outlook: Scarcity pricing is returning during periods of low renewable output, driving higher peak electricity prices and improved trading spreads. Fund manager Ben Guest emphasized GRID’s strong positioning to outperform 2023 revenues, supported by nearly doubled operational capacity by year-end. This marks a pivotal moment for the UK’s energy transition! 🌍 #BatteryStorage #RenewableEnergy #EnergyTransition #CleanEnergy #NetZero #CoalFreeUK #BESS #SustainableFuture

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Daily Energy Market Report: As of 7th November 2024, the UK energy market reflects the ongoing volatility driven by fluctuating gas supplies, shifting currency values, and varied renewable generation forecasts. Natural gas and power prices are responding to both domestic and international pressures as the market navigates supply chain developments and seasonal demand. Today, the UK's natural gas market opened with a slight oversupply, at around 7 million cubic meters per day, suggesting a temporary buffer in meeting national demand. Despite low interconnector flows to the continent, the UK has a minor import of 1 mcm/day via the BBL pipeline due to retained premiums in the National Balancing Point (NBP). LNG sendouts are steady, with strong inflows from Norwegian gas sources further stabilising supplies as maintenance at the Teesside terminal concluded. Additionally, Norwegian gas continues to support UK imports with robust flows via the Langeled and Vesterled pipelines, which contribute to the steady supply amidst anticipated temperature drops later in the month. On the pricing front, NBP Day-Ahead gas closed at 102.40 pence per therm, while forward contracts for December and January 2025 also saw modest changes, reflecting a stable near-term market outlook. Meanwhile, UK power prices showed a downward shift, with the Day-Ahead Baseload price dropping by £16.38 to £102.10/MWh. Renewables have been contributing less than usual, as wind generation forecasts remain below average for the coming week. This lower wind generation has put pressure on N2EX prices, which peaked this year with an aggregate daily price of 127.15 GBP/MWh, further reflecting the importance of renewables in offsetting gas-fired generation costs. Looking to international influences, yesterday's US election results, marking a decisive victory for Donald Trump, spurred market reactions, with expectations of increased oil production and a stronger dollar potentially impacting future gas prices. Meanwhile, European hubs like TTF have shown price increases on the back of a bullish gas complex in the final hour of trading, partially driven by limited LNG inflows. UK storage levels remain healthy, with many sites nearing or reaching capacity, which should help mitigate the risks of winter supply shocks. Individual storage levels across major sites like Aldbrough, Hornsea, and Isle of Grain demonstrate solid buffers, keeping the UK well-positioned for anticipated demand spikes. Furthermore, two LNG cargoes are inbound, scheduled to arrive over the weekend, which should provide additional flexibility. As the UK braces for colder weather, short-term outlooks are centered on balancing renewable integration, currency fluctuations, and any shifts in natural gas flows from European neighbors. Continued monitoring of US and European energy policies will also be critical, as the global landscape remains dynamic.

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UK Energy Market Update – 19th August 2024 Gas Market: The UK gas market has opened today with the system 7 mcm/day short, driven by lower nominations from the Langeled pipeline, while UKCS production remains stable. Strong exports to the continent continue, incentivised by the NBP Day-Ahead discount to TTF. The NBP Day-Ahead price is up slightly, trading at 79.50 p/therm. On the curve, winter contracts remain firm, with continued focus on storage injections ahead of the winter season. Pan-European storage levels are strong, with a collective fill rate of 89.40%. Power Market: UK power prices are seeing mixed movements. The UK Day-Ahead Baseload is priced at £64.24/MWh, reflecting a slight firmness. However, renewable generation, particularly from wind, is expected to limit the need for gas-fired power this week, especially on Thursday, with forecasts showing up to 15,000 MWh/h of wind capacity. On the supply side, nuclear availability is impacted by planned outages at key sites, including Heysham and Torness, adding to the overall market tension. Oil & Coal: Brent crude is relatively stable, trading at $79.68/bbl, while ARA coal for Cal Y+1 remains elevated at $130.11/tonne, reflecting continued demand and supply-side constraints. Currency: The GBP/EUR exchange rate is currently at 1.1747, maintaining stability in the broader energy market context. Outlook: As we approach the end of August, the UK energy market remains focused on storage levels and the geopolitical risks that could impact supply. With cooling forecasts and robust wind generation expected, we might see some easing in power prices, but the gas market continues to be underpinned by storage and export dynamics.

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🏭 By 2030, green hydrogen production in the UK could hit up to 1 million kg/day. That’s still below the 2.4 million kg/day UK Government target, highlighting the need for more investment in renewable capacity! #HydrogenEconomy #FutureOfEnergy ⚡ A strong green hydrogen sector can drive the UK towards net-zero, but scaling costs and infrastructure remain hurdles. Will we see a hydrogen-powered UK by 2030? #NetZero Richard Winterbourne Peter Kristensen #RenewableEnergy #UKHydrogen

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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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Interesting article in The Telegraph today. The policy for 18GW of #interconnector capacity by 2030 was put in place by a Conservative government and for good reason, to enhance energy security. Current levels of electricty imports belie the fact that GB will pivot in the mid 2030s to be a major exporter of green power.

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On October 18th, 2024, the UK energy markets opened with tighter gas supplies and fluctuating power prices, reflecting a complex mix of operational challenges and evolving demand forecasts. The system started the day 7 mcm undersupplied, with Norwegian flows through the Langeled pipeline reduced by 4 mcm due to ongoing maintenance. Two offshore projects in the UK Continental Shelf are also impacting supply, though both are expected to conclude today. However, the Oseberg field’s outage, cutting 27 mcm/day, has been extended until tomorrow, and Gullfaks will remain offline until November 1st. Gas prices are moving with these constraints. The NBP Day-Ahead settled at 96.00 p/therm, slightly up from the previous session. Curve contracts were mixed, reflecting uncertainty around maintenance schedules and geopolitical tensions. Despite these disruptions, the UK is forecasted to receive one LNG cargo by month-end, while Belgium and France are set to take more significant volumes. In power markets, the UK Day-Ahead baseload price dipped to £86.58/MWh, down by £3.02 from the previous day. Peak power settled at £90.26/MWh, a noticeable drop from £96.70/MWh. Renewables are expected to support the grid with above-average wind speeds through October 26th, though forecasts suggest output may fall short of demand by around 2000 MWh/h towards the end of that period. Temperatures are expected to remain slightly above seasonal norms for the next week, providing some relief to heating demand before colder conditions return. Oil prices remain steady, with Brent at $74.45/bbl, while carbon permits hover around €62.98/tonne for EUA Dec-24 contracts. Overall, the market remains on edge, with winter risks looming and the geopolitical environment adding further complexity. Traders will closely monitor the completion of maintenance schedules and incoming LNG deliveries, both of which are critical to stabilising the market in the coming days.

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🌍 Green Hydrogen: The Key to Solving the UK's Energy Trilemma? 🌿 As the UK navigates its "Energy Trilemma" of balancing energy security, affordability, and sustainability, green hydrogen is emerging as a powerful solution. Imagine a future where hydrogen powers not just homes, but heavy industry, transport, and more. The potential is massive! 🚀 #HydrogenRevolution Green hydrogen could be the game-changer in decarbonising industries, transport, and power generation, supporting a clean and resilient energy future. 🚀 #GreenHydrogen #Sustainability #EnergyTransition #NetZero https://lnkd.in/evNmG_gA #CleanEnergy #Decarbonization #HydrogenEconomy #EnergySecurity Hilton Supra Peter Kristensen Gary Spicer Mads Bondergaard Jan Holm Martyn Price

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Great article from one of our ESG assurance experts on the pending changes and impact on business when the CBAM scheme comes into effect.

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This is very good and we are set for a great 5 years of biomethane. Larger projects with CO2 capture (remember- never burn biogas, never vent CO2) No capacity issues and no need to add propane Also, these new NTS connections for biomethane also provide NTS gas for low load factor Dunkelflaute back up plants which we need in vast numbers And, obviously again, don’t burn any diesel! Taking gas out of the NTS at 60 bar means a pressure ratio of 5 to get to 300 bar Bio-CNG. That’s like climbing Everest but starting at 25,000 ft Its a Golden Age for biomethane CNG Services Limited CNG Fuels National Gas Transmission

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Challenger Energy Group Plc (AIM:CEG, OTC:BSHPF), the exploration group focused on the Atlantic margin, said a £1.5 million strategic investment from Charlestown Energy Partners allows the company to kick off technical work on licence AREA OFF-3 offshore Uruguay at the 'earliest opportunity'. This investment, initially structured as a loan, includes terms to convert into shares at a fixed price of 0.168 pence per share on the successful closure of the AREA OFF-1 farm-out agreement with Chevron.  This conversion rate represents a roughly 20% premium over the current share price, potentially resulting in Charlestown holding approximately 8.7% of Challenger's shares, making it one of the largest shareholders. More at #Proactive #ProactiveInvestors #challengerenergyplc #oilandgas #offshore http://ow.ly/RWAQ105pRpm

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This article in todays UK times highlights the UK’s future dependence on gas while not actually planning future gas supplies. Irelands policy is to rely on importing gas from the UK! The most secure form of gas supply is local. https://lnkd.in/eXpDF2qB

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Jobs boost for renewable energy supply chain, report from trade body finds. Scottish Renewables #ScottishRenewables #SupplyChainImpactStatement #RenewableEnergy #CleanPower #EnergyTransition #OffshoreWind #NetZero #GreenJobs #EconomicGrowth #SustainableFuture #Scotland

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AUGUST ENERGY NEWS 📰 August 2024 has been a pivotal month for the UK’s energy sector 🌎 - The UK energy price cap will rise by 10% in October, increasing the average bill to £1,717 due to higher wholesale costs. - Electricity prices spiked this August, driven by increased demand and geopolitical tensions, raising energy security concerns. - The Great British Energy Bill is being fast-tracked to create a state-owned company, vital for hitting 2030 decarbonization targets. - Labour's election win boosts clean energy initiatives, with industry backing policies to speed up renewable projects. - The UK hit a record 46.4% in renewable energy generation in 2023, with wind and solar leading the charge. - Offshore wind capacity expansion in the Celtic Sea is key to the UK's plan for energy independence and fossil fuel reduction. If you’re concerned about these changes, contact us to see if you qualify for free heating and insulation grants. Contact us at 01554 788766 or check your eligibility at www.stellarenergy.org 🌐

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Natural gas must be part of the wider energy reliability conversation. Listen as Paul Ruppert, INGAA Board Chair, explains why policymakers need to prioritize expanding our natural gas infrastructure network to ensure a reliable energy future. https://lnkd.in/egzBhaUa

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