2024 in review: energy hits (and misses)

Welcome to our final Energy Bulletin of 2024. In this edition, we cover the energy positives and negatives of 2024, helping you plan your energy strategy in the most effective way possible in 2025:

?? Anthony Ainsworth talks about the key energy policy announcements of 2024 that he will be watching into 2025

??? Could 2025 be a pivotal year for independent generators? Michelle Stephens looks at whether the concerns voiced by generators in our latest report will be addressed next year

? 2025 will be a big year for data and metering, thanks to the start of the Market-wide Half Hourly Settlement reform. Scott Thompson asks, are businesses ready??

?? Energy prices continued to be a hot topic in 2024. Will 2025 be a year of stability? Louise Ward looks ahead to the factors that could impact business energy costs next year

?? While energy prices have decreased in this year, non-commodity charges have continued to rise. Stephen Evans ? examines whether this will be a trend to keep an eye on in 2025

?? Finally, we take a look at the work we’ve done in 2024 with Mind and the launch of our new community fund, the npower Business Solutions Foundation.

What will be the key energy market movements to watch in 2025?

2024 was a busy year for the energy markets, with a new Labour government bringing new policies, ideas and plans. In an ever evolving landscape, what are the main things that businesses need to be aware of that could continue to impact into 2025?

In this update, our Chief Operating Officer, Anthony Ainsworth , looks at the energy developments to watch, as well as rounding up another busy year at nBS.

Policy, PPAs and planning reforms - what did 2024 bring for independent generators?

Could next year be a pivotal year for independent generators?

The policy announcements seen in 2024 could address some of the barriers to the development of more assets that were identified in our recent report - Clean power 2030: Harnessing the power of the UK's independent energy generators.

But, what else happened this year that could impact independent generators? Here, Michelle Stephens outlines her top reflections for 2024:

• The Labour government has made expanding the generation of clean energy a major priority, along with solving many of the planning and connection issues that impede this
• The Power Purchase Agreement (PPA) market is also growing, with many more businesses seeking direct arrangements to secure power from generators
• And for those generators that also import power for consumption, the rising cost of non-commodity charges makes the business case for generating on site even strong

However, independent generators still want to see more progress in 2025 and beyond – including less ‘red tape’ around renewables and more financial support for investment in generation assets.

Metering and Market-wide Half-Hourly Settlement - are you ready for change?

Getting a better understanding of energy data has become a key priority for businesses who want to save costs and carbon emissions. This will become more important with the start of the Market-wide Half-Hourly Settlement (MHHS) migration in 2025.

Listen as Scott Thompson from our data and metering services team looks at whether businesses, third party intermediaries and the wider energy sector are ready for this major change.

?For further information, you can visit our MHHS hub here - or register for our next webinar.

Was 2024 a turning point for energy prices?

The good news for businesses in 2024 was that, after two years of volatility, energy prices finally started on a downward trajectory. Here, Louise Ward looks at whether the signs of stability will continue into 2025, or if geopolitical factors will continue to cause energy risks.

??For further information, access our Winter Outlook paper here.

Will non-commodity charges continue to rise in 2025?

It has been another year of ups and downs in the energy markets. For every positive - such as summer day-ahead price drops thanks to the growth of wind - there has been a counter, particularly when it comes to non-commodity charges.

In less than 60 seconds, Stephen Evans ? looks at whether these will continue to rise next year.

?? To understand more about why these charges are increasing, read our blog.

Giving back in 2024

We are very proud that nBS has continued to support charities that are close to our hearts, from raising over ￡30,000 for mental health charity, Mind , to supporting local communities close to our offices.

“Mind is a charity close to our hearts and we’re so proud to raise money to support mental health awareness and care. Together, we really are making a difference to people’s lives.” - Sally Phillips

This year’s highlight was the launch of our own community fund, the npower Business Solutions Foundation. So far, the Foundation has provided funding for almost 50 amazing community projects and charity initiatives in the West Midlands and Yorkshire.

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