Low-carbon power is now the dominant form of energy supply in the UK. In 2018, it accounted for a record 54% of our total generation.
The low-carbon and renewable energy economy is also growing, and was worth £44.5 billion in 2017.
Staff from our Midlands-based offices also get involved, arranging volunteer days at the Birmingham house to do ad hoc jobs like decorating, cleaning, making tea and helping out at events such as Pancake Day or a Halloween Party
In less than ten years, we’ve moved from large-scale coal, gas and oil plant supplying 80% of our national power demand to a far more decarbonised, diversified and decentralised model of generation.
Our business is unusual. We sell a product (gas and electricity) – but a key focus is on helping our customers to use less of it.
That’s clearly good news in terms of helping the companies we supply to reduce their overheads.
But many of our customers are also concerned about the wider business implications of the large-scale emission reductions that will be required as we transition to a net zero economy.
Earlier this month, Ofgem published its ‘State of the Market’ analysis and National Grid its ‘Winter Outlook’ report.
What’s particularly interesting to note is the inclusion from Ofgem of what appears to be far more references to decarbonisation – and how, as the industry regulator, it can work to support the UK in achieving its ambitious targets.
This year has seen UK wholesale gas and power prices slide with much of the risk premium from 2018 eroded away. This was due, in part, to a rerouting of liquefied natural gas (LNG) cargoes from Asia to the UK and Europe.
We hope you enjoyed our first series of The Future of Business Energy.
When it comes buying energy and looking at efficiency projects, I often get asked whether it’s possible to balance cost effectiveness with meeting sustainability objectives.