Sustainable investing now mainstream says report

The world’s largest investment manager has hailed sustainable investing as part of the “mainstream” and no longer “niche”.

In its latest global insights report, BlackRock said about $760 billion (£581bn) was invested in sustainable funds across Europe and the United States in 2018, up from $453bn five years earlier.

The report said that financial products with an environmental, social and corporate governance (ESG) focus gave an annual return of 14.5% last year in the United States, compared...

Read more

Utilities urged to invest in grid technology

Distribution Network Operators (DNOs) must invest in new technologies if they are to slash the cost of connecting more renewables to the grid, according to a new report.

A report from Smarter Grid Solutions (SGS) said utility companies should install Distributed Energy Resource Management Systems (DERMS) immediately if they are to save money and meet decarbonisation targets.

Bob Currie, Chief Technology Officer at SGS, said: “The number of electric vehicles, solar panels, batteries and other...

Read more

New energy reporting rules set to come into force

The Department for Business, Energy & Industrial Strategy (BEIS) has issued guidance for companies preparing to report on their energy usage.

All large businesses must disclose their global energy use and greenhouse gas emissions from 1 April.

More than 11,000 companies will be affected by the Streamlined Energy & Carbon Reporting (SECR) regulations.

SECR replaces the mandatory greenhouse gas reporting requirements that have been in place since 2013, and introduces new energy and...

Read more

12/02/2019 - Sector Round Up

Another coal-fired station to close

French company EDF Energy has announced the closure of its Cottam coal-fired power station in North Nottinghamshire.

The 2GW plant, which opened in 1969, is due to close on 30 September.

EDF said it will review the future of its 2GW West Burton A coal power station in North Nottinghamshire once the capacity agreements for three of its four units expire in 2021.

> Read EDF's announcement

 

UK cities to become climate hubs

Belfast, Edinburgh and Leeds ...

Read more

Renewables help drive dramatic fall in UK emissions

The UK’s continuing shift to renewables and falling demand for energy across homes and industry have seen cuts in carbon emissions of nearly two-fifths since 1990, faster than any other major developed country according to new research.

The analysis by Carbon Brief found that emissions would have been twice what they are today if these underlying factors had not changed and emissions from the electricity sector would have been nearly four times higher.

The largest driver in the 38% fall in...

Read more

European Commission lodges appeal over Capacity Market ruling

The European Commission (EC) has lodged an appeal over the court ruling which has seen the UK’s Capacity Market suspended since November.

The EC is appealing against the European Court of Justice’s ruling that it failed to examine the UK's capacity market in enough detail before approving it under EU state aid rules.

Appeals to the court can typically take up to a year to be held.

Energy UK’s chief executive, Lawrence Slade, voiced support for the EC’s decision to challenge the ruling.

“The ...

Read more

Power sector could be decarbonised by 2045

A further expansion of solar and wind power is expected to lead to Europe’s power sector being decarbonised by 2045, according to a new report.

The survey of industry leaders by EY found they expect renewables will meet 80% of the energy requirements of Europeans by then. Onshore wind capacity is forecast to triple to 640GW by 2045, accompanied by offshore wind increasing to 470GW and solar posting a seven-fold rise to 950GW.

Overall, as much as 63% of the continent’s economy could be...

Read more

Government publishes energy and climate plan

Ministers have laid out how the UK would meet its obligations under the European Union’s clean energy package.

The UK’s National Energy & Climate Plan covers the five dimensions of the Energy Union: decarbonisation; energy efficiency; energy security; the internal energy market; and research, innovation and competitiveness.

The Department for Business, Energy & Industrial Strategy (BEIS) said its Clean Growth Strategy laid out its commitment to: enhance energy security by making the...

Read more

Offshore wind set for six-fold growth

Bigger turbines and lower costs are expected to lead to a six-fold increase in offshore wind capacity during the next decade, according to a new report.

Energy analysts at Wood Mackenzie think 18 countries will be using offshore wind by 2027, up from just seven in 2017, when the UK and Germany accounted for 68% of the market.

Soren Lassen, an Offshore Analyst at Wood Mackenzie and the lead author of the report, said: “The proliferation of demand in new markets globalizes the European supply...

Read more

National Grid awards £300,000 Hinkley contracts

Balfour Beatty, J Murphy & Sons and Siemens have won contracts worth a total of £300 million to connect the Hinkley Point C nuclear power station to the grid.

National Grid, which awarded the contracts, said that Balfour Beatty will erect pylons, while J Murphy & Sons will lay underground cables between Nailsea and Portishead, and Siemens will build a substation at Sandford.

The “Hinkley Connection” will be 57km long, consisting of 48.5km of overhead lines and 8.5km of underground...

Read more