We find ourselves in extraordinary times, but we’re bringing you our round up of news from the Energy sector as normal. We’ve seen Covid-19 have an impact on energy usage, which has had a knock-on effect on pricing, but many other aspects remain reasonably unaffected.
The Carter Jonas Energy team continues to work as normal despite the temporary closure of all Carter Jonas offices and, if you would like to discuss any of the issues mentioned in this month’s bulletin, please do not hesitate to get in touch – we can all be contacted on our normal numbers.
As import power prices tumble, the export market for generators via a Power Purchase Agreement (PPA) has also been on free fall over the last couple of months.
As a result, Carter Jonas has moved most generators renewing in April and May 2020 on to the FiT export tariff which is currently at 5.5p/kWh. Other clients have moved on to short-term fixed PPAs in order to manage the uncertainty in the market, which is anticipated to remain over the coming weeks, potentially months.
IS ONSHORE WIND ON THE CUSP OF A RESURGENCE?
Following several years’ hiatus due to policy prevention, it seems as though there will shortly be a resurgence in Onshore Wind in the UK, after a Bill was ordered to be printed and presented to the House of Lords on the 30th January 2020. The Bill, dubbed the “Contract for Difference and Onshore Wind Bill,” was put forward to the Secretary of State and intends to hold a Contract for Difference (CfD) auction a minimum of every two years until the UK hits its Net Zero targets, with the auctions proposed to include both onshore wind and solar PV.
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