Energy weekly highlights—18 July 2019

Energy weekly highlights—18 July 2019

This week’s edition of Energy highlights includes the publication of the 2019 Future Energy Scenar-ios report which states that ‘immediate action across all key technologies and policy areas’ is re-quired in order to meet net zero emission by 2050, the Office of Gas and Electricity Markets’ (Ofgem) announcement of its key medium term objectives for the UK energy market, the Electricity Market Reform (EMR) Delivery Body has published auction parameters, an electricity capacity report (ECR) and Average Cold Spell (ACS) methodology for the 2020 Capacity Market Auctions. Also this week, RenewableUK has revealed a report presenting potential benefits of UK onshore wind power growth and the Oil and Gas Authority (OGA) has launched the 32nd offshore licensing round with 768 blocks or part-blocks available across the UK continental shelf. We also include the latest Brexit-related legislation and some key upcoming dates for your diary.

Electricity and gas market regulation and licensing

Net zero carbon emissions by 2050 is ‘achievable’ with ‘immediate action’

The future energy scenarios (FES) report for 2019 has been published, concluding that reaching net zero carbon emissions by 2050 is ‘achievable’ but this requires ‘immediate action across all key technologies and policy areas’. The FES report provides an overview of key areas in decarbonisation and is published to stimulate debate to influence decisions surrounding carbon reduction and the future of the energy system. The analysis also presents an approach to achieve the net zero emission target, which includes action on electrification and transforming the gas system to accommodate hydrogen. See: LNB News 11/07/2019 103.

Ofgem announces new strategy for UK energy market

Ofgem has announced its key medium term objectives and priorities to help carry out its duty to protect the interests of consumers in a changing energy sector. The strategy covers the period until 2023, when the price cap on default tariffs is due to expire and all networks are subject to Ofgem’s next price control. It has been designed to

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