As of midnight today (10 June), Britain has had no coal-fired power generation on its grid for a full two months – the longest period since the Industrial Revolution.
Edie 10th June 2020 read more »
With wind and solar power performing strongly, new data from Carbon Brief this week suggested that to date renewables have provided more power than fossil fuels to the grid this year. Renewables are thought to have been responsible for 37 per cent of electricity supplied to the network compared to 35 per cent for coal and gas. Nuclear accounted for around 18 per cent and imports around 10 per cent, according to the website. “So far this year renewables have generated more electricity than fossil fuels and that’s never happened before,” Carbon Brief’s Dr Simon Evans told the BBC. “With gas also in decline, there’s a real chance that renewables will overtake fossil fuels in 2020 as a whole.”
Business Green 10th June 2020 read more »
FT 9th June 2020 read more »
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Global consumption of natural gas will drop this year by the most in history, according to the International Energy Agency, as measures to contain the spread of coronavirus lead to an unprecedented shock to demand. The Paris-based IEA said on Wednesday that the effects of the pandemic, combined with a mild winter in the northern hemisphere, will cause global natural gas consumption to drop 4 per cent in 2020, or 150bn cubic metres, with the impact spanning every region in the world. Such a fall would be twice as severe as that registered after the global financial crisis in 2009, when demand fell 2 per cent. This year, however, gas used for power generation will take the biggest consumption hit, making up half of the total decline in demand. Gas-fired generation will see a particular heavy fall in Europe, according to the IEA, as lower electricity demand coincides with growing use of renewables for power.
FT 10th June 2020 read more »
Some of the world’s biggest oil companies are set to emulate BP and slash staffing levels, analysts say, as the sector undergoes seismic changes. BP said on Monday that it would axe more than 10,000 jobs this year as low oil prices bite and the energy titan accelerates its switch to green power. Chief executive Bernard Looney told staff that 15pc of the global workforce will be laid off following a collapse in the oil price that has left the industry reeling. Across the oil industry, bosses are fighting to shore up their companies’ finances amid the worst crisis in the oil market’s history after coronavirus lockdowns sunk global demand.
Telegraph 9th June 2020 read more »