Only 20% of top firms have set emissions goals

Around 20% of the world’s biggest stock market-listed companies have strategies in place to reduce their carbon dioxide emissions, according to a new report.

Thomson Reuters studied the 250 largest listed businesses, which together account for one-third of global emissions.

The report found that the combined emissions from the companies was flat over the past three years, but that the figure should have been falling by 3% each year in order to hit the Paris agreement targets.

Tim Nixon, Head ...

Read more

Ofgem says retail markets working well for larger consumers

The energy markets “typically work well” for larger businesses, according to the Ofgem’s State of the Energy report.

Ofgem found that bigger customers were negotiating better deals with their energy suppliers.

But it warned that electricity prices are 50% higher for small businesses than for larger firms.

Gas prices for smaller firms can be almost twice as high, the report added.

Big suppliers losing ground

The report found that the number of non-domestic suppliers has increased over the...

Read more

Large scale battery storage sites hit 100MW milestone

The installed capacity of the UK’s large-scale battery storage projects has broken through the 100MW landmark, according to new figures.

Solar Media’s UK Battery Storage Project Database now lists around 50 battery storage sites with individual capacities above 250kW.

Nearly 60% of the capacity added during 2017 has been co-located with renewable or non-renewable power sources.

The report highlighted the large number of batteries now being connected to solar farms.

Importance of capacity...

Read more

07/11/2017 - Sector Round Up

EDF sells wind farm stake

French energy giant EDF has sold an 80% in five of its UK wind farms to London-listed Greencoat UK Wind.

EDF will retain a 20% stake in the Bicker Fen, Deeping St Nicholas and Red House sites in Lincolnshire and the Glass Moor and Red Tile farms in Cambridgeshire.

The French company will continue to run the sites and buy their electricity, and said it will use the cash raised to invest in other projects.

> Read EDF Energy Renewables' announcement

 

Orsted...

Read more

Radical simplification of energy market urged

Dieter Helm, a Professor at the University of Oxford, has called for a radical simplification of Great Britain’s energy market in his Cost of Energy Review report.

His review, which was commissioned by the UK Government in August, said that market forces should be allowed to find the cheapest ways to decarbonise the power grid.

He argued that successive government policies – including Contracts for Difference, Feed-in Tariffs and Renewable Obligations Certificates – have distorted the market.

...

Read more

Greenhouse gas concentrations surge to new record

Concentrations of carbon dioxide in the atmosphere surged at a record-breaking speed in 2016 to the highest level in 800,000 years, according to the World Meteorological Organization's Greenhouse Gas Bulletin.

It blamed a combination of human activities and a strong El Niño event for the rise. Rapidly increasing atmospheric levels of CO2 and other greenhouse gases have the potential to initiate unprecedented changes in climate systems, leading to “severe ecological and economic disruptions”,...

Read more

Companies urged to ‘pick up pace’ on emissions targets

Paul Simpson, Chief Executive at the Carbon Disclosure Project (CDP), has called on companies to speed up their decarbonisation efforts if the Paris Agreement’s 2C target is to be reached.

In the CDP’s second annual progress report, the organisation said businesses were at a “tipping point” and that “enormous opportunities” lie ahead for companies that are prepared for the low-carbon transition.

Simpson said: “There are some encouraging trends emerging, with more companies setting further...

Read more

New industry Smart Power Alliance formed

Eleven trade bodies have formed a Smart Power Industries Alliance (SPIA) to lobby government to support the creation of a “smart” power system.

The group wants to see support enabling people to generate and sell their own electricity easily, supporting the efficient growth of electric vehicles, storing clean electricity, and building interconnectors between countries.

Charles Hendry, Chair of the SPIA and a former Energy Minister, said: “We want to explain the huge environmental, social and...

Read more

Initiative aims to see 1,000 cities go renewable by 2040

Two organisations have launched a campaign to convince 1,000 cities to switch to using only renewable energy by 2040.

Care2 and Pathway to Paris want residents living in cities to petition their leaders on the issue.

Once residents sign the online petition, a letter will be automatically emailed to their city leader.

Martin Walsh, the Mayor of Boston, is among the public figures who have supported the project.

Bypass Trump

Randy Paynter, Founder and Chief Executive of United States-based...

Read more

Onshore wind could save UK £1bn says report

Continuing the effective ban on the construction of onshore wind farms could cost the UK an extra £1 billion over the next five years, according to a new report.

The Energy & Climate Intelligence Unit (ECIU) calculated that erecting wind farms with a combined capacity of 1GW would be £30 million per year cheaper than constructing offshore wind farms.

The report said 1GW of onshore wind would be £100 million cheaper than biomass or nuclear power, and also cost less than gas-fired power...

Read more