Fourth Update of June 2019 – An overview of last week’s Energy news

Below is this week’s summary. It should be a one minute read relevant to UK energy with links to documents for those who wish to read more.

(Click a bullet point to open the relevant article)

Monday – 24th June

• UK energy bills are going up as government imposes caps but sees lags resulting from increased cost of purchasing energy. Costs currently declining but timing is set for changes to price cap.

• Offshore Wind industry body offers £100M over 10 years to help UK suppliers succeed to be part of supply chain.

• VAT to rise from 5% to 20% on material cost of installation of household solar and battery systems. UK Tax body (HMRC) says this is to comply with EU law.

Tuesday – 25th June

• This article summarises a UK energy expert panel event. It’s hard to summarise as there are, understandably, differing views but last line is that the panel, while highlighting challenges, is optimistic about achieving net-zero Carbon emissions by 2050.

• French nuclear fleet turns 40. 100 billion Euros of investment are required over the next decade in upgrade and maintenance costs. EU has ruled this doesn’t qualify for support from green energy label.

Wednesday – 26th June

• UK weather conditions have been unsuitable for solar or wind power generation this week, briefly causing electricity prices to reach 12 times the typical level.

Thursday – 27th June

• BEIS press release provides energy update for 1st Quarter 2019: 11% of final energy consumption came from renewable resources. Target for this period was 10%.