Global oil demand, struggling to recover from the coronavirus pandemic, could peak during this decade as electric vehicles become more widespread, according to a new report. Demand for crude worldwide plunged by 16 million barrels per day during the second quarter, the largest drop in a single quarter, according to a Bank of America Securities
Over five million SMETS2 smart meters have been installed in the UK according to the Data Communications Company (DCC). The milestone was reached with the installation of a meter at a location in Lincoln by Bulb Energy yesterday (7 September 2020). It has been achieved despite installations pausing from March due the COVID-19 lockdown, and
The British government has relaxed planning legislation, in a move that could triple the number of batteries serving the grid. Ministers have today (14 July) passed secondary legislation that removes barriers for storage projects above 50MW in England and 350MW in Wales. The government hopes that this will lead to storage cells five times
Batteries can offer a cost-effective option for upward and downward reserve to the UK grid, a project run by AI and automation tech firm Arenko with transmission network operator National Grid ESO has found. The trial, first announced in May, found that the Electricity National Control Centre (ENCC) can effectively request the availability of
A 25-megawatt battery-based energy storage system has been connected to the electricity grid to store surplus power from wind and solar plants. Located in a field near Taunton, it works by buying and storing electricity when it is cheap and then selling it at peak demand for a profit. It also helps the National
There have been some memorable scorelines over the years. The two most important of all time are, of course, Nottingham Forest 1 : Malmö 0 and Nottingham Forest 1 : Hamburg 0, to win the 1979 and 1980 European Cup finals. And, yes, I’d really like East Fife 4 : Forfar 5 to actually
Renewable power shares are outperforming fossil fuels in the stock market, but obstacles are still standing in their way. A new report produced by Imperial College London and the International Energy Agency (IEA) found that renewables offered investors higher total returns than fossil fuels, and had a lower annualised volatility, making them lower risk
McDermott continues its dialogue with renewable industry leaders to provide the latest market updates on the disruption, challenges and opportunities COVID-19 presents to the industry. This week, we focused on the energy storage market and hosted Chris McKissack, CEO at GlidePath Power Solutions. Glidepath was an early mover in energy storage. GlidePath is now
UK Power Networks (UKPN) is installing new steel core transformers at substations that are set to help support decarbonisation. The amorphous steel core transformers are high efficiency, with the distribution network operator (DNO) to replace around 15,000 transformers over time. This is set to save over 8,500MWh per year and result in a carbon
For the first time ever, more electricity came from renewables than fossil fuels throughout the whole of Q1 2020. During the first three months of the year, over 40% of Britain’s electricity came from renewable energy sources, with 30.6% coming from gas according to Drax’s newest Electric Insights Quarterly. This was bolstered by a