Britain ‘on track to meet its 78% emissions reduction target by 2035’

Britain ‘on track to meet its 78% emissions reduction target by 2035’

Jul 21, 2021

According to two out of the four new National Grid ESO’s Future Energy Scenarios (FES), Britain could meet its 78% emissions reduction target by 2035.

Net zero by 2050

The National Grid’s FES outlines four scenarios considering the future of energy from now until 2050, with each considering both the amount of energy needed and where it might come from. According to the analysis three out of four scenarios suggest the country is currently on track to meet net zero by 2050 or earlier. With the modelling predicting the power sector’s carbon dioxide emissions will become negative by 2034.

Within the report it’s also suggested there would be no unabated natural gas generation from 2035. This is when gas power stations are not fitted with carbon storage technology to prevent carbon emissions from being released into the atmosphere and ultimately contributing to climate change. Hydrogen has also been highlighted as being key to help the UK’s achieve its climate goals.

Changes in consumer behaviour

The National Grid ESO also stresses that changes in consumer behaviour and policy in areas such as energy efficiency are pivotal to achieving net zero.

In the most ambitious decarbonisation scenario analysed, consumers in 2050 will be turning down their thermostats by an average of 1°C leading, to a reduced heat demand of 13%. Alongside this as more people transition to electric vehicles emissions will be reduced. With it being estimated that more than 80% of households will be smart charging their vehicles.

Two scenarios of the National Grid ESO’s modelling also agree that the UK would see 600,000 heat pumps installed every year with up to 2.6 million installed by 2025, rising to 25 million by 2050.

British Gas Business

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Balancing planet and profit during unprecedented market volatility

06 Jul, 2022

Balancing planet and profit during unprecedented market volatility

Why are energy prices high compared to a year ago?

By Vander Caceres • 14 Jun, 2022

Wholesale energy prices have experienced unprecedented levels of volatility since the end of summer 2021, with both day ahead/spot and future contracts surging to all-time highs. In the last couple of months, prices have decreased but still remain high compared to a year ago. This period of high energy prices is expected to continue for the foreseeable future (see next section). Energy prices have surged for a number of reasons: A global increase in gas demand following the ease or end of Covid-related restrictions throughout 2021. After the pandemic, economies across the world started to recover. Asian countries like China saw their imports of Liquified Natural Gas (LNG) increase. This resulted in lower LNG shipments to the UK and Europe. On the supply side, the Covid-19 lockdowns pushed some maintenance work from 2020 into 2021 at a time when demand was recovering. In 2021, gas production hit a record low of 363TWh, 47TWh below the previous record low in 2013. Low production was the result of an extensive summer maintenance schedule which saw shutdowns at several major terminals, as well as the Forties Pipeline System which serves a significant proportion of UK gas and oil production. A lack of wind in the summer resulted in higher demand for conventional power. European gas storage in 2021 and Q1’22 remained far below previous years and it’s unclear how these are going to be replenished in the summer given the concerns around supply including the potential suspension of Russian gas flows due to sanctions. The 1,234km offshore Nord Stream 2 gas pipeline, which was designed to double the flow of gas between Russia and Germany (and by extension the rest of Europe) has been abandoned following the invasion of Ukraine. Gas storage in the UK is extremely minimal with capacity at less than 2% of the UK’s annual demand, compared with 22% for other European countries. Whilst the UK is not heavily reliant on gas coming from Russia, it sources almost half it’s gas supply from Europe. Hence, wholesale gas and power prices in the UK are now subject to knock-on-effects from the conflict in Ukraine.

What does volatility mean for your journey to net zero?

20 May, 2022

Amidst rising energy costs, digitalisation, growing pressure from stakeholders and increasing regulation, organisations may struggle to define their pathway to a low-carbon future. What can you do to protect your business’ net zero plans from the challenges of volatility? Disruption and volatility are putting organisations under pressure. Digitalisation and new technology developments continue to challenge existing business models. Its increasing dependence on energy and encouraging businesses to drive change to secure competitive advantage. And as customers, employees and shareholders look to engage with companies who understand the importance of decarbonisation, pressure is mounting to prioritise sustainability.

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