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Ofgem today published a consultation proposing the removal of some of the payments embedded generators receive — known as embedded benefits. The regulator has argued the payments are distorting the market and the changes will level the playing field for generators. The changes also appear to be an effort to push all generator revenue streams through the Capacity Market.
Centrica Storage today announced that Rough will not be available for injections from 1 May 2017 until at least 1 July 2017 as the facility will be undergoing calliper and well tests. The tests are expected to be completed by July, but it is the operator has not confirmed injection availability will resume thereafter.
The first T-1 Capacity Market auction has clear at just £6.95/kW, well below expectations. This will reduce the increase in non-commodity charges this year, but the low clearing prices being struck at auction could contribute to security of supply issues on the horizon.
This article provides a brief overview of the auction results and highlights the wider issues at hand.
2016 has been a volatile year for energy commodities. This article takes a look at the key changes that have occurred in the past 12 months and reviews how the energy market has changed. It also offers some outlook into the pricing environment in years to come.
This note briefly discusses the results of the third Capacity Market auction, which were published by National Grid on Friday.
The Chancellor has announced his Autumn Statement. Mr Hammond had previously stated he would “reset fiscal policy” in the wake of the Brexit referendum at today’s address. This note briefly looks at what was announced today and whether it will have an impact on energy costs.
Donald Trump has won the US election. This article looks at the initial impact the surprise result has had on markets before briefly looking at what some of the longer-term implications of his presidency could have on the global economy, geo-politics, energy commodities and climate change policy.
This note briefly details the changes in Chinese policy, how they have tightened the coal market and what impact they are likely to have on the future demand outlook. It also highlights additional drivers supporting the coal market this winter and explains how they are supporting power prices.
Recent media reports have highlighted concerns within the energy industry that the government could scrap the carbon floor prices in the upcoming Autumn Statement on 23 November.
This article highlights the impacts such action would have on power prices, the competition between generating fuels and the risks to UK security of supply it would have. It also argues that such a move is unlikely.
UK power prices have continued to climb higher in recent weeks as concerns over the ongoing Nuclear outages and safety probe in France have grown. The concerns are focused on particular parts that are subjecting to high carbon concentrations within the steam generators of the units. This can have impacts on the steel in the plant and pose safety risks.