GLEG

When signing a flexible contract, there is no requirement to initially purchase any projected usage, due to this, consumers can choose to purchase when a logical / opportunistic time arises. In addition, this can be done in tranches (known as hedges), opposed to purchasing all of the projected volume at a single time.

Great British Energy will be a company owned by the British people, to deliver power back to the British people.

What is Great British Energy?

Great British Energy (GBE) is a proposed publicly owned, clean-energy company announced by the UK government. GBE will manage and operate renewable energy projects, such as wind farms, across the United Kingdom. The company will be headquartered in Scotland and funded by a windfall tax on oil and gas companies.

Global electricity demand in 2024 and 2025 is set to grow at the highest levels in the past two decades, thanks to robust economic growth, intense heatwaves and increasing uptake of technologies that run on electricity, according to a report released by the IEA.

The International Energy Agency (IEA) report highlights a significant increase in global electricity demand, projecting a 4% rise in 2024, up from 2.5% in 2023. This represents the highest annual growth rate since 2007, excluding the short-term rebounds seen after the financial crisis and the Covid-19 pandemic. The IEA also forecasts that global electricity consumption will continue to grow by 4% in 2025.

With energy bills on the rise there has never been a better time to future proof your business with solar panels. Installing a solar PV system not only reduces your electricity costs but also provides green electricity that reduces your carbon footprint and helps your business reach its sustainability goals.

China’s imports of natural gas, including via pipeline and LNG cargoes, increased by 14.3% in the first half of 2024 compared to the same period of last year.

China imported 64.65 million tons of natural gas in the first six months of 2024, LNG Prime reported on Friday, citing data from China’s General Administration of Customs. The Chinese import bill for the first half fell by 0.8% to $31.7 billion, the data showed, as LNG prices were lower than year-ago levels early this year.

UK Energy Market Summary to Friday 12^th July 2024

The Labour government has made a significant initial step in its policy for renewable energy following its election victory last week by “blowing away” a nine-year moratorium on new onshore windfarms.

The lifting of a de facto ban on onshore wind development announced on 8 July marks a pivotal shift in the UK’s planning energy policy and is part of a broader suite of planning reforms that aim to facilitate the critical infrastructure needs of the UK. With a commitment to doubling onshore wind energy by 2030 to 35GW, the new government has given a strong signal of its increased focus on renewable energy.

UK-based developer Severn Trent Green Power (STGP) has announced it is to construct three new large-scale solar farms, with potential for a fourth.

By finalising a development rights deal with leading international solar company, Elgin Energy, STGP will transform its overall renewable energy output from around 350GWh per annum to around 500GWh.

The UK Labour Party secured a landslide victory in the country’s general election held last Thursday, ending 14 years of Conservative rule and potentially reshaping the UK’s future energy landscape while hastening decarbonisation.

In its pre-election manifesto, the Labour Party pledged to “work with the private sector” to triple solar and quadruple offshore wind capacity by 2030 as part of its push to achieve net-zero power emissions by the same year.