GLEG

Gas production in the UK dropped by 9% in the three-month period leading up to February 2024 compared to the same period in the previous year.

Global independent solar power producer Sonnedix Power Holdings Ltd has started building a 120-MW solar farm complex in County Durham, England, the company said on Thursday.

The project, named Cowley Complex, will create three connected solar farms of 60 MW, 43 MW and 17 MW, capable of generating approximately 124.6 GWh of electricity per year. It will be largest solar plant in Sonnedix’s 300-MW portfolio in the UK.

National Grid, a British electricity and gas utility, has formally launched the 1.4GW Viking Link Interconnector project, a subsea cable connecting UK and Denmark electricity grids. The £1.7bn ($2.11bn) project comprises a 764km-long land and subsea cable, which for the first time has connected electricity grids between the two countries. Cables extend from the Bicker Fen converter station in Lincolnshire to a counterpart in southern Jutland, Denmark.

The EU’s emissions trading scheme sectors, industry and power, saw emissions drop by 15% in 2023, putting them on track for their 2030 targets, but expert’s questions whether this was because of – or despite – Europe’s carbon trading framework. The EU’s emissions trading scheme (ETS) puts an annual cap on emission in industry and the power sector – covering 40% of the economy. Companies can buy and sell the right to emit, setting a CO2 price that now hovers above €50 following a slump through 2023.

Elexon, the UK electricity regulator, has a introduced a change called P432 as the next stage of the programme to implement half hourly settlement meters across the UK electricity network. P432 means that from 1st April 2024, all new Current Transformer (CT) Advanced meters must be treated as Half Hourly (HH) for settlement and billing. If your business has non-half hourly Current Transformer meters they will need to be updated to work by March 2026.

Europe has ended the winter season with record levels of natural gas in storage, putting the region in a much better position to move on from the energy crisis that has overshadowed it for more than two years. Gas storage for the EU at the end of March, considered the end of the winter season by the industry, stood at just under 60% full. This is about 3 percentage points higher than the previous high, set last year.

Britain has launched a consultation on how it should apply a new carbon import levy on some products from 2027 to help to protect businesses against cheaper imports from countries with less strict climate policies.

Britain’s National Grid has proposed a 58-billion-pound ($74 billion) investment programme to boost grid networks beyond 2030 to accommodate expected growth in electricity demand and an increase in renewable power projects.

The climate change levy rates are changing which may mean your business needs to complete new PP10-11 form for your supplier and for HMRC. Below summarises the new rates from 01.04.2024…

Governments around the world are expected to tender at least 102 GW of renewable energy capacity in 2024 after auctioning 137 GW in 2023, according to Wood Mackenzie’s latest analysis. The research firm says in its report that more than 60 GW of offshore wind will be tendered this year and that, as the year progresses, the overall volume could even match 2023 levels.