This week’s Chart of the Week looks at the Future Energy Scenarios (FES) for 2019, released by National Grid ESO today.
It provides an updated outlook for a range of energy sector variables. Its four scenarios continue to be benchmarked against the 80% emissions reduction target on 1990 levels by 2050, but the publication has introduced a net zero sensitivity to highlight the additional system requirements needed to meet the more ambitious target now enshrined in law.
Commercial and market outlook
The Federal Government has legislated emissions reductions of 43% below 2005 levels by 2030. Sourcing electricity from renewable technologies is fundamental to meeting this, with a much-publicised target of 82% renewables in the grid by 2030 – up from a current value of 38% over the last year. Fortunately, the...
Energy storage and flexibility
On 21 February, the T-4 Capacity Market auction for Delivery Year 2026-27 cleared at a record high price of £63.00/kW/year, procuring 43,000.955MW of capacity. In this week’s 'Chart of the week', we explore the key takeaways from the auction.
Power and gas networks
It is perhaps unsurprising to highlight that global energy markets have been exposed to significant volatility in recent years. Whether this be through the emergence of a global pandemic, dampening demand and drastically altering consumption behaviour thereafter, to the Russian invasion of Ukraine which resulted in significant changes to historic...
Home supply and services
Due to the current energy crisis, consumer energy bills have been exposed to substantial increases over the past year. The recent rise in wholesale prices has had knock-on effects in many non-commodity costs within consumer bills, some of which will be baked into charges for several years to come In...
Energy storage and flexibility
News this week that the UK government is mulling over a cap on green generation revenues comes at a time when our research finds that the investment pipeline for electricity renewables generation is the highest it has ever been. In our Renewables Pipeline Tracker (RPT) service we analyse the growing...
Low carbon generation
Balancing Service Use of System (BSUoS) charges have continued to be the dominant driver of Third-Party Charge increases in recent months, with costs remaining elevated since last autumn. In this 'Chart of the week', we present a view of past monthly BSUoS charges and expectations for future costs on a...
Commercial and market outlook
In 2017, the Victorian Government legislated a state target of net-zero greenhouse gas emissions by 2050. Since then, short-term targets have been set in five-year increments, with the 2030 target being to cut emissions by 45-50% below 2005 levels. The Government is currently consulting on the 2035 target, which must...
Low carbon generation
The Victorian Government launched Australia’s first offshore wind targets as part of its transition towards a net-zero emission future. According to the target, 9GW of offshore wind will be installed by 2040, nearly quadrupling the total wind capacity in VIC. In this Chart of the week, we dive into the...
