Charles Hendry recently published his review of tidal lagoons, commissioned by Energy Secretary Amber Rudd in May 2016. Charles has looked at how tidal lagoons would help meet our energy priorities – security of supply, decarbonisation, UK economic opportunities/jobs and affordability. He has concluded that there would be ‘no regrets’ in moving forward with a pathfinder project at Swansea and in order to develop a wider fleet of tidal lagoons, the Government should prepare a National Policy Statement and create a Tidal Power Authority.
Tags: Tidal lagoon powerThe-Hendry-review-Tidal-lagoon-Energy-final-report.pdf 2.65 MB
Prof Nick Eyre, ECI , University of Oxford
Tags: parker seminarsDecarbonising-Heat-Eyre.pdf-final.pdf 739.1 KB
As the controversy surrounding the building of Hinkley Point C continues, Dr Simon Taylor will review the state of the new nuclear programme in the UK and analyse what, if anything, might be done differently, including the role of the state. He will argue that nuclear construction is de facto impossible without state involvement. This is not a market failure but the result of huge idiosyncratic risk that private investors rationally will not bear. The question is whether there is an efficient form of state intervention that justifies new nuclear as part of a UK energy policy which seeks sustainable and affordable electricity. Dr Simon Taylor Simon studied economics at Cambridge before doing a masters at Oxford and a PhD at the London School of Economics. After two years as an Overseas Development Institute Fellow in Lesotho in southern Africa and a summer as consultant at the World Bank, he spent nine years as an equity analyst at a number of investment banks, including BZW, JPMorgan and Citigroup, where he was involved in several major equity transactions and takeovers Read more…Economics-of-new-nuclear-Simon-Taylor.pdf 2.15 MB
Spencer Dale, Group Chief Economist. Global primary energy consumption decelerated sharply in 2014, even though global economic growth was similar to 2013 Consumption increased for all fuels, reaching record levels for every fuel type except nuclear power; production increased for all fuels except coal. For oil and natural gas, global consumption growth was weaker than production. The data suggest that global CO2 emissions from energy grew at their slowest rate since 1998, other than in the immediate aftermath of the financial crisis. Emerging economies accounted for all of the net growth in energy consumption, as they have on average over the past decade, although growth in these countries was well below its 10-year average. Chinese consumption growth was the slowest since 1998, yet China still recorded the world’s largest increment in primary energy consumption for the fourteenth consecutive year. OECD consumption experienced a larger than average decline, with weakness in the EU and Japan offsetting above average growth in the US. Energy consumption in the EU fell to its lowest level since 1985. Energy price developments in 2014 were Read more…
Dieter Helm, Professor of Energy Policy, University of Oxford. In 2015 British energy policy faces big challenges for EMR, for the capacity and feed in tariff auctions, the Green Deal and the demand side. The presentation sets out the options and proposes major reforms.Energy-Policy-after-the-election-DHelm.pdf 322.38 KB
The BP Energy outlook 2035 identifies long-term energy trends, building on the BP Statistical Review of World Energy, and then develops projections for world energy markets to 2035, taking account of the potential evolution of the world economy, policy, and technology. The Energy Outlook contributes to the wider debate on global energy issues by asking key questions.Which fuels will gain – and lose – global market share? What is the outlook for US tight oil and shale gas supply, and what will the US energy renaissance of recent years mean for global markets into the future? What changes are likely for China (the world’s biggest energy consumer)? What are the implications for CO2 emissions? And, with the oil price in the spotlight, what are the forces that will influence energy prices over the decades to come? The 2035 report tables and presentation are available here
Spencer Dale Group Chief Economist BP plc The Outlook highlights the continuous change in the energy system – the changing fuel mix, the changing patterns of trade – as it adapts to meet the world’s growing energy needs. It also highlights the challenge of delivering energy supplies which are sustainable, secure and affordable. The Outlook emphasizes the role of competition and market forces in driving technology and innovation to help us meet that challenge. Despite the dramatic recent weakening in global energy markets, ongoing economic expansion in Asia – particularly in China and India – will drive continued growth in the world’s demand for energy over the next 20 years. Global demand for energy is expected to rise by 37% from 2013 to 2035, or by an average of 1.4% a year. BP Energy Outlook
Prof. David Newbery, Director, EPRG, University of Cambridgesecurity-of-supply-and-capacity-market-newbery-2.pdf 887.25 KB
The Statistical Review provides an objective global overview of energy production, consumption, trade, reserves and prices. During 2013 the world’s energy markets were affected by a weak global economy, an historic increase in US ‘tight’ oil production, and ongoing supply disruptions amid continued geopolitical uncertainty. Technology, policy, and investment have also affected global energy markets. Through the Statistical Review, interactive tools, supporting materials, and our webcasts, we will unlock the story from the data, sparking a frank and valuable discussion about global energy economics. Download Statistical Review report and tables.