GLEG

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.

Russia exported an estimated 2.55bcm of gas via two remaining pipeline routes to Europe, a monthly decline of 0.11bcm, or 4.1%, according to European gas TSO group Entsog. LNG shipments from Russia to Europe – excluding Turkey – were down 12.8% to 1.97bcm, showed ship-tracking data from consultancy Kpler. Of the total, Belgium was the largest importer, with deliveries accounting for nearly half of all Russian supply, or 0.95bcm. France was the second-largest importer, with shipments making up 30% of the February total, or 0.6bcm.

What are they and how do they impact me and my business?

When it comes to carbon emissions and carbon reporting there is a lot of terminology and complexity to get your head around.  If you can begin to understand the climate change language and net zero acronyms, you will be able to help your business perceive this as an opportunity not to just help the environment but to drive savings and influence company branding and perception across all business stakeholders.

Energy UK’s latest analysis has emphasised the critical need for a substantial rise in offshore wind capacity during the next two Contracts for Difference (CfD) auctions. Failure to secure additional projects could jeopardise the UK government’s aim of reaching a 50GW target by 2030, according to the report.

Energy consumption in the UK sees a decline while renewables reach unprecedented levels, according to the latest government data. During the October to December 2023 period, the UK experienced notable changes in energy dynamics, particularly in consumption trends, according to the latest government report.

“Countries continue constructing new LNG infrastructure: eight import terminals have come online since February 2022, and a further 13 projects are expected to be operational by 2030,” the think tank said.

Political momentum is swaying in favour of European solar panel manufacturers, as work progresses on a new EU law banning forced labour practices that would effectively block Chinese imports.

Cornwall Insight has announced its final forecast for the April-June Q2 2024 Default Tariff Cap (price cap) following the closure of the observation window on 15 February.

Based on analysis from Cornwall Insights, for a typical dual fuel household it is predicted the April price cap to be: £1,635 per annum. This is a fall of 15% from the current price cap which was set at £1,928 per year for a typical consumer.

The Orkney Islands Council’s Development and Infrastructure committee has endorsed the offshore plans for the West of Orkney Windfarm, situated 30 kilometres west of the Orkney Mainland and 25km north of the Sunderland coast. The council reviewed the offshore consent application, expressing support for the project.