Capacity Investment Scheme boosted from 6GW to 32GW
From Cornwall Insight Australia’s Energy Market Alerts service Last Friday, the Commonwealth announced a major boost to the Capacity Investment Scheme, with the scheme now expected to deliver 32GW (combination of 9GW firming capacity and 23GW renewable generation) – up from 6GW. Cornwall Insight Australia has released an Energy Market…
Regulation and policy
Building back: Autumn Statement seeks to deliver investment confidence
On 22 November, the Chancellor of the Exchequer, Jeremy Hunt, presented the government’s Autumn Statement 2023. The Statement contained a variety of measures related to energy including: £600bn of planned public sector investment over the next five years to underpin future growth and support energy security, net zero, and public…
Energy Market Design
Energy market volatility remains evident amid a delicate geopolitical landscape
Recent events, from the worker strikes at the Chevron-owned Wheatstone LNG facility in Australia to the Israel-Hamas conflict, have highlighted the potential for disruption to energy exports. The Wheatstone and nearby Gorgon facilities account for ~5% of global LNG supplies. Whilst Europe is not the recipient of notable volumes of…
Chart of the week
Energy storage and flexibility
R1 and L1 revving up the BESS revenues
In our ‘The VFF… Very Fast and Financially rewarding market so far’ Chart of the week, the two new contingency markets, the Very Fast raise contingency FCAS market and the Very Fast lower contingency FCAS, were analysed and demonstrated the high participation of big batteries along with VPPs and DERs….
Low carbon generation
An investigation into REZ capacity factors during Victoria’s dark doldrums
As the grid transitions to much higher levels of renewable penetration, the range of generation outcomes on any given day increases. The worst of these ranges are known as dark doldrums when there is a combination of poor conditions for wind and solar generation, usually a windless day in winter….
Commercial and market outlook
The VFF… Very Fast and Financially rewarding market so far
On 9 October 2023, 1pm (market time), we saw the start of two new contingency FCAS markets. The Very fast raise contingency FCAS market, and the Very fast lower contingency FCAS. Upon commencement of the VF FCAS market, a commissioning period of two weeks with an initial max requirement of…
Power and gas networks
The shifting sands of Liquified Natural Gas in Europe
As we look ahead to a second winter with heavily reduced levels of Russian pipeline gas being supplied to Europe, one of the key variables in the stability and security of European gas supplies and prices will be the supply of Liquified Natural Gas (LNG). In this paper, we discuss…
Net zero corporates and ESG
Corporate decarbonisation: What shapes success?
The focus of this research report is on the strategic measures that businesses can take to decarbonise their energy usage, with more practical measures discussed in Cornwall Insight’s published insight papers, “A corporate’s guide to decarbonising power” and “Business net zero: Making progress in a challenging economy”. This research centred…
Regulation and policy
Reform options for TNUoS and constraint management
This report explores the potential to enable the decarbonisation of the GB energy system and meeting net zero ambitions through evolutionary reforms to the transmission charging and constraint management arrangements. Cornwall Insight is an independent energy consultant with extensive experience in market and policy analysis. This report was produced by…
The Greater Manchester Local Energy Market – what is it?
Cornwall Insight is part of the Greater Manchester Local Energy Market (GMLEM), a project which is creating a modern energy system across the city. This world-leading scheme led by Greater Manchester Combined Authority (GMCA) involves 11 key partners, and is a key part of the GMCA’s plans for decarbonisation. Greater…
The Rewire-NW project was launched in spring 2020. Led by Pure Leapfrog, the project is developing plans to create a range of business models to implement locally-focused energy projects, leading the town of Warrington towards Net Zero. Rewire-NW is a forward-looking and innovative project that aims to connect Warrington using…