An ever-increasing number of large corporates are responding to pressure from investors, customers and the wider stakeholders’ community by making highly visible commitments to decarbonize. This accelerating trend is in turn increasing the demand for finance-grade greenhouse gas (GHG) accounting to underpin not only emissions disclosures but also wider efforts to develop sustainable Environmental, Social and Governance (ESG) strategies.
OPEC Agrees to Increase Output Gradually During 2021
180th OPEC Conference & 12th OPEC and Non-OPEC Ministerial Meeting – 3rd December 2020
In spite of the pandemic, OPEC would still like to celebrate its sixtieth anniversary, and like all long-term relationships, attitudes change and for OPEC, so too do partners. There is always talk of discord in the relationship and that it is on the verge of collapse, but reality always kicks in as the members realise that without the support of each other, and particularly the main players, their voices would never be heard, individual policies would falter, and they would lose any sense of direction. As one of the smaller members said to me some time ago, we each have one vote, yet those with a bigger output seem to have a bigger vote! Not all are equal. (more…)
Turning up the Heat: The Green Gas Levy
UK gas prices are currently amongst the lowest in Europe. Wholesale prices are highly competitive, taxes are relatively low, and for business users, at least, network costs account for a relatively low proportion of the bill. There is only one big problem – the carbon emissions from using the gas itself. (more…)
A Question of Balance
Why balancing the grid has been getting more expensive
There’s plenty of good news about Britain’s electricity supplies. Carbon emissions are down. Renewable generation is at record levels, wind and solar costs are falling, and wholesale prices have fallen too – at least for the time being. What’s not to like? (more…)
Don’t Delay Your CCA
Government gives green light to those eligible to save money and set course for net zero
For any business with eligible processes and plans to reduce energy or carbon emissions, applying for a Climate Change Agreement (CCA) should be a no-brainer.
The government has published its response to the consultation on an extension to the current scheme for CCAs, which relieve eligible energy-intensive users from most of the costs of the Climate Change Levy (CCL). The consultation outlined proposals to extend the scheme by two years and open it up to new entrants, allowing eligible facilities not currently participating to apply to join in 2021. The consultation received 101 responses, which fed into the final decision-making.
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All About Carbon
The surprising strength of carbon prices and their impact on the power market
Supply and demand – or not
At first glance it seems at best ironic, possibly even perverse, that carbon prices should have been so strong in recent months. After all, the COVID crisis has caused a collapse in industrial activity and power generation across Europe, reducing carbon emissions and, therefore, also the need for emitters to hold carbon allowances under the EU Emissions Trading System.
Ample supply and reduced demand hardly seem the sort of conditions to cause a surge in prices – so what has been going on?
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