Will a UK Carbon Border Adjustment Mechanism keep UK industry competitive?
npower Business Solutions
Sharing information and opinions about the issues affecting medium to major energy users, generators and consultants.
Welcome to the May issue of Energy Bulletin. This is your monthly round up of all the latest news to help you to navigate the complex energy market, providing helpful insight so you can plan your energy strategy in the most effective way possible.
In this edition, we cover:
Is a new carbon tax good news for your business?
In December 2023, the UK government announced plans to introduce a UK Carbon Border Adjustment Mechanism (CBAM) on 1 January 2027, following an initial consultation on a range of potential domestic carbon leakage mitigation measures.
The purpose of a UK CBAM is to protect against the risk of carbon leakage, with the ultimate aim of ensuring the competitiveness of UK energy intensive industries (EIIs), such as manufacturing, cement and steel.
With a new consultation on CBAM due to close on 13 June 2024, our new blog from James Thompson, Senior Finance Manager, looks at how a UK CBAM could work, and why it’s important for UK industry.
Energy update: key energy market drivers this summer
As we head into summer, identifying the main market drivers is important for businesses that are keen to understand where energy prices may be heading.
Here, Louise Ward , Head of Optimisation and Customer Costs, shares the outline of our first Summer Outlook paper.
You can read the highlights of the paper, and request access to the full findings here in our new blog.
What to read and watch this month
Expert view: discover alternative options for selling your power
In this short video, our two energy experts, Michelle Stephens and Gareth Metcalf discuss:
领英推荐
For further information about how to sell your power to meet business demand for renewable energy, you can access our report here.
A key enabler for net zero?
The aim of Market-wide Half-Hourly Settlement is to gain more timely insight into how much electricity consumers are using – and when – so that as a nation, we can better understand, plan and generate the volume of power we need to meet our needs.
This is especially important if we are going to meet our 2050 net zero target, as output from 24/7 fossil fuel plant is reducing, and we’ll need to factor in more intermittent renewable generation – and also energy storage.
You can read more in our latest blog here.
Understanding rising electricity prices
Despite wholesale power prices hitting three-year lows, electricity prices are not shrinking to the same degree. This is because the non-commodity element is increasing – and is set to continue growing for at least the next decade.
To understand the reasons for this, in our forthcoming update, our industry cost expert, Stephen Evans ? , will tell the story of our changing electricity system – and the policy decisions and commitment to decarbonisation that have led to a raft of new and growing costs, as we to switch from fossil-fuel to renewable generation.
You can pre-register for your copy here.
Supporting Solihull Moors
Earlier this month, we announced a partnership between the npower Business Solutions Foundation and Solihull Moors Football Club’s charitable arm, the Solihull Moors Foundation .
It kicked off with the sponsorship of the team’s shirt sleeve and training kit when they played in the Izuzu FA Trophy final at Wembley Stadium and will continue with support for various community initiatives with the club.
Find out more about the npower Business Solutions Foundation here.
Guiding businesses through wholesale markets and non-commodity costs
6 个月We're really excited to be able to share the first summer outlook paper from the Optimisation Desk! Great insights from the team on the key drivers to track (blog link via this Bulletin).