Energy - Power

Recent Articles

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  16.03.2023

  United Kingdom

  UK Spring Budget 2023: en­ergy and heat sec­tor im­plic­a­tions

  The UK government has made a number of announcements in its Spring Budget.  We have set out below the key measures that will impact the energy and heating sector. The full Spring Budget can be found here.The key announcements of measures in the energy sector are:£20 billion funding for early deployment of Carbon Capture, Usage and Storage (CCUS) projects The UK Government has allocated £20 billion over next two decades towards funding of CCUS (including BECCS) projects. The form that this support will take has not been specified.The Government has restated its support of the preferred...

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  09.03.2023

  United Kingdom

  Con­sulta­tion on In­flex­ible Of­fers Li­cence Con­di­tion (IOLC)

  In its Call for Input (see our previous Law-Now here) on 4 November 2022, Ofgem proposed a number of intervention options to address high balancing costs incurred by NGESO which are ultimately borne by customers. Ofgem’s preference was to introduce a licence condition that would prevent generators obtaining an “excessive benefit” in the Balancing Mechanism in certain circumstances, largely based on the Transmission Constraint Licence Condition (“TCLC”).Following the responses to the Call for Input, Ofgem has decided to press ahead with its initial preference, setting...

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  08.03.2023

  United Kingdom

  Four-year ahead (T-4) Ca­pa­city Mar­ket Auc­tion for 2026-27 de­liv­ery year

  National Grid Electricity System Operator (in its capacity as EMR Delivery Body) published the final results of the T-4 Capacity Auction, relating to the 2026/2027 Delivery Year, on 3 March 2023 (published here). The auction cleared at a record high of £63.00/kW/year, which is almost double the clearing price in last year’s T-4 Auction (£30.59/kW/year).In this article, we consider the CM auction results in detail, together with some industry context and implications.ResultsA total of 43,000MW in Capacity Agreements have been awarded to 542 Capacity Market Units (“CMUs”)...

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  16.02.2023

  United Kingdom

  Hytime to cer­ti­fy: UK con­sults on Hy­dro­gen Cer­ti­fic­a­tion Scheme

  On 9 February 2023, the Department for Business, Energy and Industrial Strategy (“BEIS”), and the Department for Energy Security and Net Zero (“DESNZ”) (noting that from 7 February 2023, the relevant functions of BEIS have been transferred to DESNZ) published a consultation (the “Consultation”), outlining the Government’s key proposals for the design, content and delivery of a globally-recognised low carbon hydrogen certification scheme. The overall objective of the low carbon hydrogen certification scheme is to support the decarbonisation of the hydrogen...

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  25.01.2023

  Bulgaria

  Bul­garia 2053 en­ergy out­look: re­new­ables, nuc­le­ar and stor­age

  On 23 January 2023, the Bulgarian Ministry of Energy published its Strategic Vision for Sustainable Development of the Energy Sector of the Republic of Bulgaria, which reflects the national priorities and objectives for the development of the energy sector up to 2053 and addresses European policies and goals while considering the local specifics in the field of energy resources, production, transmission, and distribution of energy. Developed by the Ministry through powers granted by the Energy Act, the document establishes the following main strategic priorities aimed at the development of the...

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  18.01.2023

  Bulgaria

  Bul­garia to de­vel­op elec­tri­city stor­age to en­hance de­vel­op­ment of re­new­ables sec­tor

  Early 2023 the Bulgarian parliament introduced legislative amendments to enhance the development of the renewables sector. By means of amendments and supplementations in the Energy Act (EA), three major steps were undertaken: the minimum power generation installed capacity (subject to licensing) was increased from 5 MW to more than 20 MW installed capacity; the initial legal framework for electricity storage was introduced; guarantees of origin in the exchange market was introduced. Licensing regime for power plants with installed capacity 20 MW or more As a result of the introduced amendments,...

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