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
Boris Lagadinov, Head of Analysis SandbagThe-EUETS-in-the-2020s-_Sandbag.pptx 258.2 KB
Laszlo Varro, Chief Economist, The International Energy Agency The International Energy Agency recently released the first ever detailed analysis of investment across the global energy system. In this inaugural annual report on energy investments around the world, the International Energy Agency (IEA) looks at the lifeblood of the global energy system: investment. The ability to attract and direct capital flows is vital to transitioning to a low-carbon economy while also maintaining energy security and expanding energy access worldwide. The success or failure of energy policies can be measured by their ability to mobilise investments. The new report measures in a detailed manner the state of investment in the energy system across technologies, sectors and regions. The analysis takes a comprehensive look at the critical issues confronting investors, policy-makers, and consumers over the past year.
Tags: IEAWorld-Energy-Investment-Varro-IEA.pdf 1.78 MB
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
In his speech, Iain Conn Centrica CEO talked about the rapidly changing energy landscape ‘a transformational moment for the energy industry, which bears comparison to the revolution we have seen in the communications sector over the past 20 years’. He focused on the consumer-driven trends that are transforming the energy market, arguing that it is customers who are the real enablers of change, and their behaviour is fundamental to where and how energy will be used. Iain considered the role that technology and big data will play in enabling those changes, the role natural gas will play in the future energy mix and explored policy pathways to achieve energy and climate change objectives more effectively. Download the Podcast
At the end of November last year, the Committee on Climate Change (CCC) provided its advice to the Government on the level of the 5th carbon budget (the limit on UK greenhouse gas emissions over the 5 years 2028-32). The Paris Agreement, in December, has greater long-term global ambition than current UK targets assume – in particular, it aims to hold the increase in global temperature to well below 2°C above pre-industrial levels, to pursue efforts to limit it to 1.5°C and to reach net zero global emissions of greenhouse gases in the second half of the century. What are the implications for UK targets and emission reduction measures? In follow-up advice to the Government, the CCC has repeated its recommendation that the fifth carbon budget be legislated at the level advised in November, but noted that a tighter budget may be needed in future. In this presentation, Adrian Gault, Chief Economist at the CCC, considered the implications of Paris, and explains the basis of CCC advice in relation to the level of the 5th carbon budget, with implications for Read more…UK_Carbon_Policy_Post_Paris-Adrian_Gault.pdf 801.61 KB
Following the UK government’s decision to cancel its £1bn competition for carbon capture and storage (CCS) technology at the end of November the future of of CCS in the UK now looks very uncertain. Energy Futures Lab in association with the British Institute of Energy Economics and the Energy Technologies Institute are hosting a panel discussion on the possible future of Carbon Capture and Storage in the UK. The event will include a panel of experts from industry and academia putting their view across and taking questions from the audience. After the event there will be a drinks reception to continue on the discussion around this pressing issue for the UK’s energy sector. The panel discussion at Imperial College London was chaired by Sir Ed Davey, the former Secretary of State for Energy and Climate Change. He was joined by a panel including: Professor Geoff Maitland, Director of the Qatar Carbonates and Carbon Storage Research Centre Dr Graeme Sweeney, Chairman of Zero Emissions Platform coalition Mike Thompson, Head of Carbon Budgets for the Committee on Climate Change Jim Ward, Business 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