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UK Energy Market Update

pepgb.com

Despite gas stabilising over the last few weeks and the forecast severe weather not coming to fruition, short-term energy prices remain unusually high. The electricity commodity market is in a state of backwardation which means near-term contracts are more expensive than those that are further out. This is a result of short-term market pressures. Normally the energy market...

Rush for carbon credits spurs surge in power company schemes

ft.com

A rush by companies to buy credits to offset carbon emissions has led to contentious schemes being developed by large power companies...

UK pubs hit by higher energy costs as suppliers limit Covid debt exposure

ft.com

Energy suppliers are refusing to renew gas and electricity contracts for pubs or forcing publicans on to higher rates while they renegotiate terms, as they limit exposure...

Gravitricity battery generates first power at Edinburgh site

bbc.co.uk

A project to create electricity from gravity has generated its first power at a demonstrator site in Edinburgh.

The Gravitricity system acts like a giant battery to balance...

Council greenlights plans for ‘Europe’s first’ rare earth metals processing facility in Humberside

energylivenews.co.uk

A £100 million chemical engineering project that is believed to become Europe’s first rare earth metals processing facility...

IKEA owner vows to inject €4bn into renewables

energylivenews.co.uk

IKEA owner, Ingka Group, has unveiled plans to invest €4 billion (£3.4bn) in renewable energy projects.

The new investments will be spread across new solar and wind assets in countries that the company has not already invested in.

Visa pledges to reach net zero by 2040

energylivenews.co.uk

Payments technology company Visa has committed to reach net zero global emissions by 2040. The firm outlined plans to become a ‘climate-positive’ company through...

Climate change: Carbon 'surge' expected in post-Covid energy boom

bbc.co.uk

The International Energy Agency (IEA) is predicting a major surge in CO2 emissions from energy this year, as the world rebounds from the pandemic. Total energy emissions for 2021 will still be slightly lower than in 2019, the agency says...

Amazon ramps up purchases of renewable energy amid worker battle on climate change

nbcnews.com

The retail giant came under fire earlier this month when the National Labor Relations Board found Amazon illegally retaliated against two employees who criticised the company’s impact on climate change...