Energy Procurement 2014/15 by The Energyst

2014/15

Published by

contents

Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4-5 Tim McManan-Smith, Editor, Energy Procurement

Power Market Analysis . . . . . . . . . . . . . . . . . . . . 6-7 Zoe Double, Head of Power, ICIS

Energy at Board Level . . . . . . . . . . . . . . . . . . . . 8-11 Janet Wood, Freelance

Demand Response . . . . . . . . . . . . . . . . . . . . . 12-14 Gary Swandells, Director, Smart Grid Consultancy

Finance & Energy. . . . . . . . . . . . . . . . . . . . . . 16-18 Andrew Jones, EAV Associates

Levelised Cost of Power . . . . . . . . . . . . . . .20-23 Georgina Bisby, Freelance

Viewpoint: Price Security . . . . . . . . . . . . . .24-25 Financing Energy Projects . . . . . . . . . . . . .26-28 Steven Fawkes, Founder and Principal at EnergyPro Ltd

Carbon Capture & Storage. . . . . . . . . . . . . 29-31 CCSA

Case Study: Ford Motor Company. . . . . . .32-33 Demand Side Management . . . . . . . . . . . .34-37 Robin Hale, Director, ESTA

Heat Strategy. . . . . . . . . . . . . . . . . . . . . . . . . 38-41 Carbon Connect

Case Study: Gatwick Airport . . . . . . . . . . .42-43 Editor Tim McManan-Smith Tel: 0203 714 4450 • tim@energystmedia.com

ESOS and ISO50001 . . . . . . . . . . . . . . . . . .44-46

Sales Director Steve Swaine Tel: 0203 714 4451 • steve@energystmedia.com

Energy Regulation . . . . . . . . . . . . . . . . . . . .48-49

Kit Oung, Consultant to may including IEA and BSI

Agency for the Cooperation of Energy Regulators (ACER); Council of European Energy Regulators (CEER)

Energy in Industry. . . . . . . . . . . . . . . . . . . .50-55 Energyst Media PO Box 420, Reigate, RH2 0PW Registered at Stationers Hall ISSN 0964 8321 • Printed by Headley Brothers Disclaimer: Opinions expressed by individual contributors may not necessarily be those held by the publisher. Although every effort has been made to ensure the accuracy of information published – this should be used at the readers discretion. The Maps within this publication are supplied courtesy of: The Petroleum Economist Limited (www.petroleum-economist.com)

Jeremy Nicholson, Director, EIUG

Gas-fired Generation . . . . . . . . . . . . . . . . .56-57 Platts

introduction

The wholesale prices are driven fundamentally by the available of It has to be extracted

fuel.

and shipped to a suitable spot where is can be used

to either generate electricity or burnt directly for heat such as the natural gas in the UK but will energy

efficiency become the bigger issue?

nergy saving is often spoken as the fifth fuel, and the question has always been how to do mine that rich resource? Much has been done already by industry; it is

slightly newer for many commercial and public sector buildings and has yet to take much hold on domestic properties. Industry needs to be efficient to survive but there is still much that can be done to reduce the demand side burden of excessive energy consumption. A recent IEA report shows that when the value of productivity and operational benefits to industrial companies were integrated into their traditional internal rate of return calculations, the payback period for energy efficiency measures dropped from 4.2 to 1.9 years. This is something that is often missed by the simple payback calculations that many businesses employ. The same report goes on to suggest that the market for energy

the national debate has in the past centred on generation and how to attain security, de-carbonisation and keep it affordable. Lately

efficiency is growing, with aggregate annual investment reaching

though that has changed, there has always been an

USD 300 billion in 2012 – equal to investments in coal, oil and

acknowledgement that it is cheap and easy to do compared with

gas generation. The resulting savings have been larger than the

building power generation, yet it has never been focussed by

energy provided from any other fuel, making energy efficiency

policy other than a cursory sentence within an energy bill.

the “first fuel” for many IEA countries. IEA analysis has also

However, coming into force for all businesses that employ more

shown that the uptake of economically viable energy efficiency

than 250 or has an annual turnover exceeding £42.5m and a

investments has the potential to boost cumulative economic

balance sheet exceeding £36.5m, in effect all non-SME businesses,

output through 2035 by USD 18 trillion – larger than the current

is ESOS – is the energy savings opportunity scheme.

size of the economies of the US, Canada and Mexico combined

This requires energy audits for businesses and they need to be

and all of this from an investment of less than USD 12 trillion in

signed off at board level. This will improve awareness of the

more energy-efficient technologies.

energy management situation within an organisation and identify

These are interesting statistics and there has always been shining examples of what can be achieved by businesses, however,

opportunities for reducing energy consumption. The Government is also running a pilot scheme for electricity

how do you fulfil the broader potential? It needs leadership,

demand reduction. EDR will allow companies to bid into the

leadership within a company allows it to take advantage of the

Electricity Market Reform’s Capacity Mechanism. By guaranteeing

opportunities that exist but if you want it to work nationwide then

a permanent reduction and verifying it from 4-8pm in winter

the obvious leadership we need is from Government. In the main

months, payments will be made as it removes stress from the Grid

introduction

does not guarantee security, however, it does provide additional power on to the Grid if you pay the price and is also an outlet for renewable energy when the consumption in the UK is low. National Grid claims that if interconnector capacity could double to 8-9 GW there are potential savings of £1bn a year. This would also take the UK closer to the European benchmark of having interconnectors making up 10% of generation capacity. The is no one solution but the comparisons are bewildering. Another factor that will increase the bill that an energy consumer pays is the non-energy costs such as green taxes to encourage renewable energy, carbon reduction and energy efficiency. These allied to increasing infrastructure costs recovered through at this crucial time of day. Although it starts fairly modestly at £20

transmission and distribution costs will continue to make prices

it will again raise the profile and monetise energy efficiency as will

higher. Non-energy costs within a bill will soon rise to 50% meaning

the increasing uptake and popularisation of demand side

that whatever happens to wholesale prices the trend will be upwards.

response. This is where the grid pays for extra generation capacity

This is where businesses have be intelligent in the way that they

to be turned on or load to be shifted rather than an overall

procure energy and integrate it completely with their demand

reduction in consumption.

reduction initiatives that will balance these potential increases. By

There issues on the supply side with generation cost increasing

understanding not only how much you use but when you need to

which will in time lead to wholesale rises. The decarbonisation of

use it reduction in costs are possible as with the installation of

the Grid through renewable energy, nuclear power and potentially

new efficient technology. Total energy management; efficiency

carbon capture and storage will not come cheaply. The price

and procurement will give you the best chance of preparing for

guaranteed for the Hinkley C power station at £92.50/MW is high,

the future.

it is also adjusted for inflation. Compared to current wholesale prices this seems to be expensive yet without it experts believe that new nuclear would not happen in the UK. As a source of stable secure low carbon energy it is hard to beat but the costs will be hard to bear. It will cost £24.5bn to construct a 3200MW at Hinkley. Compare this to an interconnector that costs £600m for 1000MW, this would be the equivalent of £1.920bn. This is an unfair comparison as an interconnector is not a generating source and

Tim McManan-Smith Editor Energy Procurement tim@energystmedia.com

Power market analysis

moving in a volatile way in the last 12 months, with geopolitical concerns and capacity shortages shaking up prices. Zoe Double, head of power at energy market UK energy markets have been

information provider ICIS, explains the moves

K gas and power prices have been more turbulent over the last year. The last 12 months of the ICIS Power Index (IPI) – an index calculated from traded values

for electricity delivered the next winter and the next summer to reflect trends in the energy markets – shows that energy price

the winter to come. Since then, the long-term trend for gas and power wholesale prices this year has been downwards, due to a warm winter and oversupply in both commodities. Gas supply has been plentiful for the whole year, as a warmer

movements have been shaken up both by external factors and

than average winter over 2013/14 left more gas in storage than

structural changes.

usual. The high storage levels have persisted over the year, with more supply bringing prices downwards. Liquefied natural gas

Long-term price falls

(LNG) shipments into the UK have also been higher this year

At the end of last year, the ICIS Power Index was rising, with

than last.

memories of the cold snap in early spring 2013 boosting prices for

Power prices are closely linked to UK gas prices because natural gas fuels around 30% of Britain’s electricity generation. As a “flexible” form of electricity generation, gas plants only turn on when power prices are high enough to justify burning fuel. Meanwhile, the power markets have also been oversupplied, with more renewable energy sources connected to the grid. Renewable sources receive a subsidised rate for the electricity they produce, to make them economic to operate and help the UK meet its emissions reductions targets. Therefore wind, solar and biomass can meet more

Power market analysis

of the UK’s demand, bringing down prices for conventional

spikes on individual days if traders are nervous of electricity

generation.

shortages. But seasonal temperatures or above would bring

In addition, UK demand itself is also falling. Energy efficiency

forward gas and power prices down.

measures have helped both households and industrial consumers

Russia and Ukraine have struggled to sort out their differences

to cut their usage, leaving less demand for the existing generation

over gas pricing for many years – European gas traders have kept

to supply.

a close and nervous eye on the state of that relationship since the taps were last turned off in 2009. EU member states are required

Threats of supply disruptions

to show by 3 December they can meet one day of demand during

However, the downward trend has been disrupted by

20-year temperature lows if gas imports are disrupted. But

geopolitical tensions between Russia and Ukraine. Most of the

markets remain nervous over any possibility of disruption to gas

IPI’s largest day-on-day moves this year have been influenced by

supply, which could also encourage short-term price spikes.

triggers such as Russia annexing the Crimea in early March, and sanctions considerations in late July. The UK does not directly import gas from Russia, but traders

Long-term, more renewable energy and falling demand are likely to continue, causing gas and coal-fired plants to switch off because they are loss-making. But for energy buyers, the subsidies

are nervous that if Russian supplies to mainland Europe are

involved in encouraging a more environmentally friendly

disrupted during the winter, the UK may export gas to cover the

electricity supply for the UK are now accounting for a larger

shortfall, with a knock-on effect on UK gas prices.

proportion of energy bills. Government research suggests that the

UK power supply is also tighter, as two nuclear reactors

impact of higher subsidies will be offset by the resulting increase

totalling 1.2GW were turned off in August, which accounts for

in energy efficiency, but price trends in final bills are moving away

some 10% of the UK’s supply surplus during some weeks in the

from wholesale energy price trends – a slow but seismic shake-up

winter. Operator EDF Energy announced in early September that

of the market.

these could remain offline for the rest of the year, which triggered another price spike as traders were concerned that the grid supply

The ICIS Power Index is updated daily and available at www.icis. com/energy/electricity/icis-power-index/

margin was already uncomfortably tight. Coal-fired capacity has also been reduced as older plants come off line under the terms of the EU’s Large Combustion Plant Directive, and more plants are on maintenance this year than last. Looking forward For this year, as with last year, much will depend on temperature – a cold winter in 2014/15 could lead to some price

Zoe Double Head of power ICIS

energy at board level

Janet Wood, freelance writer, suggests

three questions

that the board should ask to their energy manager and also three for your broker

for a better procurement strategy

n the past couple of decades energy costs were relatively low,

the simplest example is when premises are too cold when staff

and were correspondingly low on the list of topics up for

arrive and still being heated long after they have left. Any

discussion at board level. That has changed in the last

company chief can look around the building and see whether you

decade: prices for the “raw material” that provides our energy –

are lighting and heating an empty building. But even the simplest

largely gas and coal – have mainly been increasing, partly in their

half hourly metering allows you to understand whether there are

own terms and partly because increasingly their environmental

invisible energy loads at unexpected times. Is your system heating

cost has been factored in via carbon pricing. Meanwhile the cost

water when it’s not required?

of investing in new energy capacity has increased, partly because

In fact for most businesses a single meter is not enough, even if

we have been sweating assets over the previous decade, so now

it provides half-hourly information about how your energy use

much of our power capacity is due for replacement and partly

varies. It is better to understand exactly how much energy your

because some of our new capacity is early stage technology.

processes require. One company with a variety of sites that all

The future for energy costs seems likely to increase. That puts

have pumps has begun metering each to find out how their

energy bills on the agenda in many board rooms. Making sure

energy use varies. It found a huge variation in pumping efficiency

your organisation’s bills are as low as possible is the work of an

across the estate. That led to a rethink of the maintenance regime

expert: but board members can make sure they are getting the

for its pumps: not only have the least efficient been moved up the

best from the energy manager with three simple questions.

maintenance schedule but some have been replaced with more efficient versions.

Do we understand what energy we use? Earlier this year the energy regulator, Ofgem, began an

All companies should ask energy managers about metering: are we being metered half hourly and - for all but the smallest

investigation into three energy companies, accusing them of

organisations - do we have sub-metering that suits not just our

failing to install advanced meters in the premises of some of their

property portfolio but the processes taking place within it?

larger customers. The three – Npower, British Gas and E.On – were required, like other suppliers, to complete the advanced

What does our energy cost?

meter roll-out by April this year.

Ask your supplier to break down your energy bill. Larger

Why has the regulator acted so quickly? Because any company

companies will find it can have a dozen components and there

needs to be able to track and understand its energy usage if it

should be some flexibility about which costs are passed through

wants to cuts its energy bill. There are very few companies for

and which are charged on a standard basis.

whom a single monthly bill provides enough information to make changes. A common issue, even for the smallest companies, is a mismatch between energy demand and energy provision. Perhaps

The parts that get the biggest column inches are the wholesale price of gas and electricity, and government levies that support renewable energy, energy efficiency and the fuel poor. But take a look at some of the other costs. Network charges, for example, …continued on page 10

energy at board level

…continued from page 8

make up a third of the bill. Part is paid to the transmission system owner (National Grid in England and Wales), and part to the

Putting it together Armed with the information above, energy managers can take a

distribution network operator. These costs can vary considerably

deep look at organisation’s energy use and cost and re-examine

at different hours of the day and throughout the year – that is a

how to minimise both.

deliberate incentive for buyers to shift demand out of those hours. Alongside the direct cost of the energy bill companies may also

Martyn Newton is assistant deputy estate manager at the University of East Anglia. It is a complex site, with a variety of

be making other energy-related payments. Carbon cost is one

buildings. Some are academic and some of these have very

such: intensive energy users may be buying carbon emissions

specific heat and power demands. Some are accommodation, and

permits in the EU’s emissions trading scheme (ETS) and

their usage is very different from the buildings where research,

organisations with lower usage will account for – and pay for –

teaching and administration takes place.

their carbon emissions via the CRC scheme. You should be asking your energy manager: do we have

Newton says the university has a deep interest in sustainability and energy efficiency, and it had always, for example, managed

flexibility in our energy use pattern, and are we making the most

triad – reducing demand on the days of winter peak, which

of it?

reduces overall bills. The university is already replacing inefficient boilers installed in the 1960s with combined heat and power

What are our energy resources?

units, but there was a step change in its approach when energy

Not many companies have the space and investment

managers began receiving a disaggregated bill with the various

opportunity of M&S, which will spend the next six months

cost elements passed through. “There were 13 elements in the

installing over 20 acres of PV panels on the roof of its huge

bill,” Newton says. “Now we are aware of them we can vary them”.

distribution centre in the east Midlands, and will benefit from a

The university found it was being penalised by high network

guaranteed tariff for the next 20 years. But many companies have

charges between 4pm and 7pm, when the price paid in that slice of

the opportunity to use local resources on a smaller scale.

the bill increased by 6p/kWh. That had a noticeable effect on bills

The publicity around PV has been such that few are unaware of

and it applied all year round, Newton says. The benefit of not buying

it as an option, and government is focusing its subsidy payments

power during that period was quite considerable. The university has

this year on rooftop versions. But the government is also keen to

built that realisation into its planning in exactly the same way it built

support companies using “green” options to source the heat they

in charging peaks and troughs in other parts of the bill. “You have to

need, including solar thermal rooftop arrays, biomass-fuelled

play the game to get the best out of it,” Newton says “we are looking

boilers and heat pumps.

at our daily profile and various means of providing it,” and for

Nor is generation the only option to get paid for doing your bit to help balance our energy supply. In its role as system operator National Grid calls on companies to provide so-called “ancillary

example the group now schedules maintenance of its equipment and its engines to take account of the price paid to the network. Newton says the university runs different amount if generation at

services”. Some arise not because the country doesn’t have enough

different times of the year to meet hot water and power needs. But

power to meet its needs, but because maintaining our electricity

the two are not necessarily in tandem.“ The university could run

supply to its set parameters – 240V and 50Hz - requires second

more CHP in the network “red tariff ” periods and that works in

by second management locally, as well as across the country.

winter, but “During the summer we need the electricity but we can’t

Increasingly, National Grid calls on companies to help do that,

dispose of the heat” he says. The university’s solution is a heat store

and specialist companies can act as intermediaries to help you

– an option that should also reduce the need to bring extra boilers

automatically take advantage of the flexibility available in UPS

into play to meet peak hot water needs. “It will smooth the

systems. backup generation, and altering your demand pattern in

operation of the CHP,” Newton says, “and it will also mean we can

a way that protects your processes.

reduce boiler running and do it at optimum efficiency.”

You should be asking your energy manager: do we have a selfgeneration or demand response option?

The university is also considering installing a district heat network to add extra flexibility to the system – and it has cooling

energy at board level

…and three questions for your energy broker Most companies buy their energy with the help of a third

If the Code goes ahead Ofgem would likely place a

party intermediary (TPI), which may play a role as simple as

requirement on energy suppliers – which it does have power to

collecting and comparing quotes. At maximum a TPI may buy

regulate – to work only with TPIs who abide by the Code of

all a company’s energy and manage its exposure to wholesale

Practice.

energy market. It may even have a “performance contract”,

Ofgem has yet to make a final decision and implement any

whereby the TPI invests in energy efficiency and onsite power

change. In the meantime, how should you ensure you have the

on the end-customer’s behalf, sharing the ultimate savings.

best service from a TPI? It’s worth asking first what their

TPIs often play a useful role on behalf of the company,

response is to Ofgem’s Code of Practice proposals. A good TPI

especially where they can bring expertise and buying power,

should be able to satisfy you on the main points, whether or not

leaving companies to focus on their core business. But energy

the Code is in place.

regulator Ofgem has been concerned for some time that not all give value for money and some are not transparent about the commission they receive from energy suppliers. Ofgem has been consulting over how to improve the

When you work with your TPI: First be aware of what they provide: TPIs are not obliged to research the whole market or even to find the best deal, and

transparency of TPI charging and their quality of service – a

some represent a small number of suppliers. This should be

move made more complicated by the fact that TPIs are not

clear from the outset.

licensed by the energy regulator. Instead they operate under

Secondly ask for transparent charging. TPI’s are always

consumer protection rules. If they fail, your recourse is via the

paid for their service and if you are not paying commission

Office of Fair Trading and the Trading Standards Service.

it is likely being paid by the supplier. This may work for you

Ofgem has been trying to tighten up TPI standards and its current proposals would see a Code of Practice introduced. It has not been finalised, but Ofgem’s key points are: • Complete and clear information on every aspect of their

– but you must understand where the payment is being made. Thirdly, as with any supplier, make sure you understand your contract. As we have seen elsewhere in this article there are big

service to customers (and in particular the fees involved and

gains to be made from picking apart your energy usage. The

other ‘principal terms’)

information and help you get from your TPI can help save

• Honest marketing tactics– TPIs must always ensure that they treat prospective customers with the highest degree of professionalism; • Effective monitoring to provide effective service to their

energy costs in the long run. A good TPI can help manage and reduce energy costs, but employing one does not mean you can abdicate responsibility. Due diligence is required.

customers. in mind too. Newton says “cooling is becoming more and more

Exploring real data and using detailed pricing information has

important” as the university fits in more people and more

provided a more holistic – and more economic - solution, and one

electronic equipment. “We have an absorption chiller so we can

that in the long term should provide some protection from

use half a megawatt of excess heat and stop using electricity to run

unexpected changes in the energy market.

compression chillers,” he says. More chillers may be employed. The university has undertaken some intensive evaluation of its energy use, its cost and its resources. The outcome has not necessarily what seemed the most obvious. The electricity provided by its CHP plant could be exported to the grid, for example, but Newton says that comes relatively low on the real scale of value, saying “Yes we do export power but it’s not very economic. We have an export licence but we don’t get a great deal of money for it.”

Janet Wood Freelance Writer and editor New Power magazine

demand response

DSM (demand side

management or DR (demand response)

as acronyms are banded about with the assumption that everyone does, or

should, know what they mean. Smart Grid Consultancy’s Gary Swandells explains recent developments in the area

SM and DR have become commonplace along with the

supporting the equivalent of a single direction gravity flow, but

other big catchall phrase ‘Smart Grids,’ but do most of its

can accept the kind of volatility that results from distributed

users know what it means? Or does it potentially mean

generation and new electric consumption devices such as heat

different things to different people? To understand more, we need to take a brief step back and recognise that the energy industry,

pumps and plug in vehicles. DSM and DR are Smart Grid services of great interest right

particularly the electricity industry, is made up of many different

across the energy industry and can also include consumers,

interdependent parties. Traditionally, a supplier provides fuel,

particularly those in Industrial and Commercial (I&C), sectors.

which goes into a power station and is converted into electricity.

While we hear talk on the news of Smart Meters and Domestic

Electricity is then carried on transmission lines, onto distribution networks and finally, to the consumer. In many respects the old power networks were not dissimilar to that of water being gathered on a reservoir atop a hill and, being gravity fed, flows in one direction through ever shrinking pipes to pour from many

Triad avoidance is where a customer can avoid consuming energy during nation high demand periods and in turn avoid annual charges that can be as high as £25K+ per MWh.

DR, the truth is that many I&C customers have been involved in DR for many years. If you are already aware of DR it is probably through another acronym, ‘STOR’, The National Grids Short Term Operating Reserve service. Many industrial customers including water companies, financial institutions

taps at the bottom. It becomes more complicated when we consider

and manufacturing facilities have the ability to vary their load or

that, in the background, markets exist to trade the commodities,

generation to support their sites in the event of mains power failure.

forecast usage and ultimately ensure what is being poured in at the

By contracting directly or via one of the several service aggregators,

top accurately matches what is being taken out at the bottom. In

these customer sites can be combined to act like a warm power

electricity terms this is known as system balancing, and is carried

station, ready to be started up at short notice to top up electricity or

out by National Grid, who in the past would seek to achieve this by

reduce demand when the system experiences shortfalls. Naturally,

paying power station owners to keep plant warm just in case there

they get paid for this and are therefore able to offset the cost of

was a need for a little bit extra here and there.

owning such assets.

For a variety of reasons this view has been changing. Not least

Similarly, when a site has the capability to offer STOR, it can

of all, the number of large power stations is starting to dwindle

potentially start to conduct several other activities that can

and much of its replacement comes from less predictable sources

contribute to the bottom line of a business, in many cases taking

including renewables that may find itself connected at the ‘bottom

an asset such as a stand by generator and enabling it to become a

of the hill’ near the customers. All these changes are creating the

useful profit centre. One of the most common of these is for

need for a smarter electricity network that is capable of not just

‘triad avoidance’. This is where a customer can avoid consuming …continued on page 14

demand response

GDF SU

demand response

…continued from page 12

energy during nation high demand periods and in turn avoid

agreements are in advance and for longer contracted periods,

annual charges that can be as high as £25K+ per MWh.

meaning they can also encourage the building of new smaller,

Since 2009 triad benefits have increased, however prices paid for STOR have steadily fallen as it has grown in popularity and the numbers of providers offering services have also grown. But

efficient facilities such as CHP (combined heat and power) plants as well as additional emergency backup generators. Add to this the current range of trials being carried out by the

the industry hasn’t stood still during this time and 2015 looks to

six UK electricity distribution companies who own and operate

be a key year in the development of several new opportunities.

the networks that connect to customers and it could be that the

National Grid has other services that relate to system balancing.

competitive aspect could shift from a buyer’s to a seller’s market.

While STOR needs response typically within a 6 – 30 minute

In respect of this the DNOs and National Grid have already

range, there are a couple of other services aimed at managing

recognised the conflict of two publically funded bodies competing

system frequency that act much quicker and present further

for exclusive use of customer sites. As they progress the

opportunities to earn for sites that can respond right down to sub

development of a service sharing framework it is likely that we

one second from a trigger signal.

will see the introduction and rapid growth of DR being used as a

National Grid are still keen to grow their STOR participants

tool not just for National requirements, but also dealing with local

connected on the low voltage distribution networks and are

constraint issues and helping ensure increased resilience and value

currently creating a new easier access service called STOR runway

from their Smart Grid innovations.

that simplifies the processes and lowers the entry barriers to

Finally we must consider that potentially the biggest benefits

encourage more new sites to get involved. Some of this may be

will available to the Energy Suppliers and while they are moving

driven by concerns that other new opportunities will attract current

at a slower pace, it is widely recognised that the big six and several

STOR sites away to alternative paid schemes such as Demand Side

of the smaller companies are watching this space very closely

Balancing Reserve. DSBR is brand new and while it too is being

indeed. Their reasons are again different as to why they may want

procured by National Grid, it is for a very different function and at

to get involved in working with customers who can offer

apparently more attractive prices. Its purpose is not to address the

flexibility. With the ability to not just manage their energy trading

unpredictable periods of imbalance, instead its function is to help

through the purchase of energy but have real time control as a

over the next few winters where there is concern that there may not

portion of their clients demand they may be able to avoid much of

be enough large generation capacity to meet peak demand periods.

the most expensive energy that is sold when the commodity is in

DSBR is expected to just be a temporary or transitional service

short supply, or limit the cost of trading imbalance.

while the results of the UK’s Energy Market Reform (EMR) is

As the market continues to develop and grow both in size and

enacted, including the roll out of the new Capacity Market. The

range of opportunities it will undoubtedly attract new participants

CM is largely a correctional policy form government and the

who can choose services that are best suited to them, although

regulator to help stimulate the commissioning of new power

they may require some additional assistance with this. However

generation that has largely been neglected due to insufficiently

what is clear is that the way in which energy is regarded and how

attractive price signals from the market. All this while, old plants

customers can participate has changed and we are unlikely to ever

are steadily reaching the end of their life and closing. In the case of

be seeking to return to a dumb grid ever again.

polluting coal plants, many would argue this is a good thing. However, it does mean that there has been an ever present danger that the installed capacity within the UK may fall dangerously close to or below the maximum demand periods of the winter. The CM is not only encouraging the building of new Gas fuelled power stations, but presents another opportunity for smaller generators or even sites willing to reduce demand during such periods to be rewarded as power stations. Even better, these

Gary Swandells Director Smart Grid Consultancy www.smartgridconsultancy.com

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costs down ... by looking up to the board and integrating supply with demand says Andrew Jones

Get

• For July to December 2013, UK industrial electricity prices for medium consumers including tax were the fourth highest in the EU 15, whilst industrial gas prices for medium consumers including tax were the second lowest in the EU 15. • Between Q1 2013 and Q1 2014, average industrial prices in real terms including the Climate Change Levy (CCL) increased by 5.9 per cent for electricity, but fell by 5.2 per cent for gas, 0.6 per cent for coal, and 7.1 per cent for heavy fuel oil. • Prices ... will vary depending on sectoral coverage (manufacturing industry, non-domestic consumers ...) and consumption levels. • Larger consumers may be more dependent on wholesale spot prices, and therefore more vulnerable to price spikes, whereas smaller consumers tend to be on more stable contracts. Source: Quarterly Energy Prices, June 2014: The Department of Energy & Climate Change.

oesn’t the brief extract above, from a 92 page statistics publication, make extremely interesting reading! It’s vital information your organisation needs in order

to plan and survive!

they do their core business, and take control of it? When I worked for a large PLC back in the 90’s, I bought around £30m of utilities basically on my own with help from an external Consultancy company. The only real interest internally

Or, is it irrelevant and just plain boring?

at that time was in how much lower it was going to be than last

Well, what does it tell us? Perhaps, simply that prices move up

year. Now, if I’d not worked for a utilities company for 20 years it

and, occasionally, down ... and in a competitive world, things are

might have been a high risk strategy to allow someone called an

relative; that we have to take into account ‘taxes’ and subsidies a

‘Energy Manager’ to manage this from end to end. Luckily, the

little more than we used to; that how big you are and how you buy

company risk manager got involved via a routine departmental

matters. But perhaps it tells us a great deal more: that we need to

all-risks survey, and then about 8 of us did it ... but still with only

keep tabs on this energy and carbon stuff – and take it very

one moderately junior financial person involved. I, of course,

seriously, since it’s volatile, there’s much regulation and it needs

then slept much better knowing the risk (had I really considered it

managing properly.

as such?) was lower both for myself and the company.

In your organisation, who keeps track of what’s happening in

Around about 2007, I wandered off to Defra in London for a

the energy marketplace and with regard to legislative/ regulatory

year working three to four days a week with them in the

impacts; is full responsibility taken internally or is it out-sourced?

development of something called the Carbon Reduction

Is understanding and responsibility delegated to various siloed

Commitment (CRC). As the truth began to dawn back at the

‘experts’ or does your senior team understand this sector as well as

ranch that these three little letters could cost our company

finance and energy

Source: Ofgem Factsheet 128 March 2014

millions - and affect our reputation - the eight of us were joined

costs – the ‘juice’ – but network costs are set to rocket as we

by FDs, Property Directors, lawyers ... and even CSR folk worried

replace and reconfigure our infrastructure (customers to

about the reputational bit. It was a time of great interest in

contribute £250bn of the £375bn cost over the next 15 years –

everything that had carbon, electricity or gas attached to it, with

source: PAC Jun-14), and government environmental and social

budgets and scenarios cast and re-cast, refined and challenged. Mr

schemes have to be paid for (via taxes and subsidies) over a very

G. Osbourne then kindly altered the ground rules, disallowing

long time, in order to make us greener whilst keeping the lights

any return of monies paid, and later simplification diluted the

on.

CSR concern about the name-and-shame performance table.

Does your senior team still have a good understanding of – and

Qualifying companies still have to pay the tax, but is there still

real interest in - the pressures building on various elements of the

that frenzied interest in this percentage added to the bill? Whether

utilities bill, and do they know what could be done to mitigate the

in or out of CRc, are FDs, PDs, CEOs, MAs, CSRites et al still

impacts?

demanding weekly reports and projections – and heads? Has the team now grown to 20, or is it back to one? There are many factors that will influence utility prices over the next few years. The focus in the 90s was very much on wholesale

Fiduciary duty “When was the last time your Board discussed energy cost and energy efficiency proposals”, asked Rupert Redesdale, the CEO of …continued on page 18

finance and energy

…continued from page 17

The Energy Managers’ Association at a recent customer meeting

identify savings, under The Energy Savings Opportunity Scheme

held in the City of London. “If you haven’t done recently, then are

(ESOS).

you properly managing your company?”

Qualifying companies must measure total energy consumption

A good question – to which the answer will often be ‘no’,

across buildings, transport and industrial activities and ensure

particularly if you consider your company not to be that energy-

that at least 90% of total energy consumption is subject to an

intensive.

ESOS compliant energy audit or equivalent (or better): a Display

As part of a well constructed talk on the role the financial

Energy Certificate/ Green Deal Assessment or certified ISO 50001

fraternity needs to play he went on to raise the stakes. “Directors

Energy Management System. ESOS might even get that original

have to understand financial risk”, he said. That’s true, of course ...

CRC-driven frenzy back into the board-room...

but then the game-changer I think, as he stated : “ The likelihood

In or out of ESOS, it makes sense to have a planned, structured

of major energy price rises and the effect on supply chain crisis

approach to saving energy and for further reading seek out

mean that directors who don’t raise this at the Board could be

information on ISO 15001 EMA mentioned above. Achieving

seen as not fulfilling their fiduciary duties.” Directors must act in

ISO50001 means you’re really serious; following most of the 7

the best interests of their company at all times.

steps to bring about cultural change and meat targets means

Now, the mention of ‘not fulfilling their fiduciary duties’ really

you’re better than most.

raises the temperature with regard to the real interest that might need to be shown by Finance and other Directors. There is

The challenge ahead

increasing backing to ‘encourage’ companies not just to report on

Nowadays, energy is bought by procurement professionals,

their energy, cost and carbon reduction activities – indeed, their

who, hopefully, do this from a base of in-depth understanding of

whole environmental performance - but to explain and

utilities markets, and future cost pressures on the ‘juice’, the

demonstrate what actions they plan to take.

delivery and the taxes. The challenge ahead for the purchasing and financial communities is to understand the interplay between

On-side Demand-side

[pure] procurement and demand-side measures which are surging

Whether you’re on the Board or fighting the battle in middle

up the agenda.

management, there’s one thing that everyone at all levels should

In future, buyers will need to add to their procurement skills

understand – it’s simple and pretty straight-forward: in general,

many of the competencies of their energy management colleagues,

the less you use then the lower your bill should be. The focus at

and look up to ensure the Board plays an active, informed role in

Board level now must be on controlling demand-side, how much

mitigating risk and managing costs ... through reduced use.

is used, as much as it is on the supply side – how much it costs. One can take some control of costs and price volatility by timely and informed purchasing, by use of financial instruments and by having a good green/ brown mix of supplies, but the need for improved certainty and risk mitigation demands that this is the time for energy reduction and efficiency to be on every board

Andrew has over 35 years experience in utilities, procurement, engineering, retailing, environment, energy services, carbon management and training. He is a Chartered Engineer, a Fellow of the Energy Institute, and a Member of the Chartered Institute of Building Services Engineers. He is a regular speaker on carbon mitigation, adaptation and accounting. He is also a director of Empirical Energy Limited.

agenda. Procurement and demand-side management need to be considered together, at senior level ... and within the context of a long-term plan. Planning and taking action to reduce risks and costs seems a no-brainer, but increasingly EU and UK directives and legislation are there to ‘lend a helping hand’. Soon, around 7,300 companies large undertakings (and their corporate groups) - will have to

Andrew Jones Director EAV Associates & Empirical Energy

undertake mandatory energy assessments of energy use and

M I

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Levelised cost of power

Since Energy Procurement reported on levelised understanding the cost

costs in 2011,

of power generation has become no less

complex or controversial. However it remains an essential tool for energy market analysis and business planning nonetheless. Georgina Bisby reports

’levelised cost’, or the Levelised Cost of Electricity (LCOE) as defined by the Department of Energy and Climate Change (DECC), is the average cost over the

lifetime of a particular plant type per MWh of electricity generated. This figure reflects the cost of building, operating and decommissioning a generic plant for each technology but does not take into consideration potential revenue streams. Whether it’s for traditional fossil fuels, renewables or nuclear, estimating a plant type’s LCOE helps to interpret the overall competitiveness of differing generating technologies. Factors that affect this figure are numerous and variable. They can include capital costs, fuel costs, fixed and variable operations and maintenance costs, financing costs, and the plant type’s utilisation rate. Market conditions also play a part as does the maturity of the technology - taken into account by the allocation of either a ‘FOAK’ (first-of-a-kind) price or ‘NOAK’ (nth-of-akind) price. Given the volume of variables, LCOE estimations are understandably extremely uncertain. As much as any LCOE estimates try to capture these uncertainties it is accepted that they won’t do so completely and the figures must therefore be viewed in this context. When Energy Procurement looked at LCOE in 2011 the latest figures came from the ‘UK Electricity Generation Costs update,’ a Mott MacDonald report, which was commissioned by the Committee on Climate Change for its Renewable Energy Review and published in June 2010. Broadly summarising, the report’s key findings were that excluding carbon costs coal-fired power stations offered the least expensive technology for generating electricity in the near and medium-term. Including carbon costs, gas-fired power stations

Levelised cost of power

were the cheapest option for near- term projects while nuclear power was the least expensive in the medium-term followed by on-shore wind which offered the least expensive renewables option. Since then, in 2013, The World Energy Council (WEC) and Bloomberg New Energy Finance (BNEF) published The Cost of Energy Technologies, a comparative study of the costs of producing electricity around the world. (www.worldenergy.org/ wp-content/uploads/2013/09/WEC_J1143_ CostofTECHNOLOGIES_021013_WEB_Final.pdf). The WEC report is the first of its kind and aims to provide reference costs based on real project data, focusing on the leading renewables and conventional technologies across a range of regions. The analysis showed that there is a broad cost range across renewable energy technologies that far exceeds that across conventional energies. The report also suggested that mature and widely deployed clean energy technologies such as hydro and onshore wind are close to reaching parity with traditional sources, while emerging technologies such as marine tidal and wave are still at the early phases of cost discovery. Meanwhile in the UK, The Department of Energy and Climate Change (DECC) has published several Electricity Generation update reports since the Mott MacDonald report, the latest version of which was released in December 2013. (www.gov.uk/ government/uploads/system/uploads/attachment_data/ file/269888/131217_Electricity_Generation_costs_report_ December_2013_Final.pdf). For these reports DECC used International Energy Agency projections as the main source for global deployment and learning rates (cost reductions as technology manufacturers accumulate experience) other than for ACT, wave, tidal stream and renewable â&#x20AC;Ścontinued on page 22

Levelised cost of power

…continued from page 21

values have fallen by 18%, as a result of decreasing construction

technologies under 5MW learning rates which are driven by

costs and higher capacity factors. Meanwhile offshore LCOEs

scenarios of technical potential for UK deployment.

have been rising due to the increased costs of projects further

DECC’s latest figures suggest that for projects starting in 2013 with a 10% discount rate CCGT is cheapest at £80/MWh followed by Nuclear FOAK at £90/MWh followed by onshore wind at

from shore coupled with cost overruns due to harsh construction environments and the complex nature of construction at-sea.” However research from the Energy Technology Institute

£101/MWh. Round 2 offshore wind comes in at £122/MWh and

suggests the LCOE of offshore will come down provided

Round 3 at £129/MWh.

innovation in technology is exploited. For example lighter, longer

For projects starting in 2019 with a 10% discount rate nuclear is

blades are said to have the potential to reduce costs by 3% to 5%.

the cheapest option at £80/MWh followed by CCGT at £85/

Says the ETI: “Floating offshore wind has the potential to make

MWh. Gas CCGT with post comb CCS FOAK at £95/MWh

offshore wind part of the technology starting line up for 2050;

followed by onshore wind at £99/MWh. Offshore Round 2 come

rather than the best reserve.”

in at £115/MWh and Round 3 at £120/MWh. However as previously mentioned experts and the reports themselves warn against directly comparing the LCOEs of

Marine ambitions In contrast the marine energy sector (including wave, tidal

different technologies because of the limitations of the LCOE

stream, tidal barrage and ocean thermal energy conversion

method so it is perhaps more useful to consider some overall

(OTEC)) which the UK has also expressed ambitions to become a

trends.

global leader in, has some way to go in order to demonstrate its potential to become cost competitive with other low carbon

Winds of change Wind energy is now the world’s fastest growing electricity

energy sources. The Cost of Energy Technologies report, which focused on

source and forty percent of all the wind energy in Europe blows

tidal stream and wave power technologies, suggests that the

over the UK so it is not surprising that the government has stated

LCOEs of both these types of electricity have increased as the true

its ambition to be a global leader in the technology. According to

costs of the technology has become apparent from demonstration

the Cost of Energy Technologies report between 2000 and 2010

projects which are currently underway.

the global capacity of onshore and offshore wind increased an

However there is strong support for the potential of marine

average of 30% per year, reaching 200GW installed in 2010. Says

energy in the UK including from the Carbon Trust which in its

the report: “2012 was a record year for new onshore wind

Marine Energy Accelerator program has estimated that marine

installations with over 46GW of capacity built in the year.

could eventually provide 20% of the UK’s electricity.

Offshore wind is just beginning to be installed at scale and

There are more than 12 companies currently working towards

Bloomburg New Energy Finance (BNEF) forecasts that by 2020

commercialisation in this sector and along with Australia and

global capacity will reach nearly 50GW.

South Korea the waters off Scotland are a key focus for these

“Since BNEF began tracking onshore wind LCOEs in 2009,

developers.

Levelised cost of power

In June 2013 in a move to help spur additional deployment of tidal and wave projects the UK government announced a

£100/MWh soon thereafter.” Given that a recent report from the US Department of Energy

Contract for Difference Feed-in Tariff of £305/MWh for projects

looking at likely global energy use in 2040 suggests that coal, gas

under 30MW - in comparison the same tariff for onshore wind is

and oil will still feature heavily with renewables playing a minor

less than a third of that at £100/MWh.

part, the imperative to lower the LCOE of CSS is clear.

Commitment to Carbon Capture and Storage

Nuclear power

At present the LCOE of Carbon Capture and Storage is high

While some countries such as Germany abandoned nuclear in

and the difficulties of developing the technology well

the wake of the Fukishima disaster in March 2013 the UK

documented; when Norway which was once leading in CCS

government announced plans to plans to align the UK as a

testing dropped its plans for a full-scale carbon capture plant it

leading civil nuclear energy nation. In a 90-page industrial

likened achieving CCS to putting a man on the moon. However

strategy document entitled The UK’s Nuclear Future the

there is still optimism about the potential for the technology’s

government set out its: “clear expectation that nuclear will play a

costs to fall. The UK Government made a commitment to CCS in

significant role in the UK energy mix in the future” and as the

its Electricity Market Reform Delivery Plan - a central component

DECC report shows nuclear is a cost effective medium term

of the Energy Act 2013 which received Royal Assent in December

option for the UK.

2013 - with Secretary of State Edward Davey explaining: “The UK is leading the world on CCS and the Government wants to make

The cost of power at the wholesale market will still be the

sure that Britain will be in first place to export this knowledge to a

biggest single factor in the price of electricity until at least 2030

decarbonising global economy.

even with green costs escalating over time. Although reduction to

“The Government is strongly investing in developing a CCS

costs will happen it is safe to say that barring a shale gas

industry in the UK that can compete on cost with other low

revolution in the UK of the scale that occurred in the US

carbon technologies. CCS will help us reach our goal of reducing

wholesale prices seem set to increase by 50% to almost 100% over

carbon emissions by 50 per cent from 1990 levels more cheaply by

the next decade.

while supporting over 15,000 jobs per year.” According to a study by the CCS Cost Reduction Task Force published in October 2013 (www.gov.uk/government/groups/ccscost-reduction-task-force) CCS can become cost competitive with other low-carbon technologies. “UK gas and coal power stations equipped with carbon capture, transport and storage have clear potential to be cost competitive with other forms of low-carbon power generation, delivering electricity at a LCOE approaching £100/MWh by the early 2020s, and at a cost significantly below

Georgina Bisby Freelance Writer

viewpoint

rising energy costs. BIUâ&#x20AC;&#x2122;s Sam Berry discusses the impact In such a volatile marketplace, businesses are facing the risk of

of the market and how a flexible energy procurement strategy is essential for

price security

welve months ago, talk was only of the price of wholesale power and gas increasing, particularly in the mainstream media. Yet, in a similar way to governments failing to

execute countercyclical monetary policy in boom times, those who manage large scale energy portfolios are failing to heed the lessons of the past, or understand what the present can tell us about the future, and as a result are failing to take full advantage of low energy prices this summer. Energy market participants tend to back test different strategies against previous market prices. While this can be a useful guide in predicting how prices will react to different fundamental situations, when deciding on a buying strategy moving forward there is a limit to how beneficial this

to the time of delivery over the next couple of years. As is

information can be. For instance, following the low prices seen

commonly the case in equities markets, fear and greed are often

this summer the temptation would be to move away from

the source of most mistakes on energy markets. The desire to

futures based trading and begin buying on day ahead markets

achieve the lowest price possible has pushed buyers toward

instead. This removes all judgement from the equation and

purchasing off the near curve, when, judging by the

certainly increases the risk of being exposed to volatility from

fundamentals that are creeping over the horizon, going long and

conflicts within the energy market. Take for example, the early

locking in value appears to be the most prudent, risk managed

spring of 2013, when temperatures along with gas storage

solution.

plunged, prompting gas prices to rise to 76p/therm, nearly double the price we have seen this summer. This is surely not a risk that the majority of energy intensive

Over the short, medium and long run, uncertainty rules the roost. Geopolitical tensions support prices in the short term, supply concerns become prevalent in the medium term whilst in

businesses can take and this is certainly not a risk managed

the long term we are moving toward a carbon free economy. All

approach to energy procurement. The past year has shown that

of these are set to support prices over the coming days, months

volatility is still rife and that the ability to look forward is crucial

and years and with the UKâ&#x20AC;&#x2122;s substandard storage volume, we are

for achieving a low price through a risk managed strategy. The

only one bad winter away from sky-high prices once again.

lessons of the past are suggesting that hedging prior to delivery

Here at BIU, there are only two variables that affect our

remains the best way to mitigate against price rises and volatility. The low prices currently on offer this summer have encouraged some businesses to move toward purchasing closer

trading strategy; The markets and our customers. There is no preconceived optimum way to trade in such a volatile and fast changing world. We pride ourselves on our fundamental and

viewpoint

technical analysis and our execution of trades at the optimum intraday price using our bespoke market viewing software. We firmly believe that the greater visibility we can give our

To find out more about BIUâ&#x20AC;&#x2122;s Procurement Services, contact us today at procurement. team@biu.com or call us on 01253 789816.

customers, the better the relationship. Hence we have developed M2M, our bespoke budgeting software that incorporates live market prices and gives customers a live view of their energy spend versus budget. The way BIU purchases is a dynamic, flexible, market orientated, customer driven strategy that is fluid and can adjust to what is an ever-changing marketplace. Simple but effective. Come and take a look

Sam Berry, Energy Procurement Analyst at BIU Tel: 01253 789816 procurement.team@biu.com www.biu.com

financing energy projects

Finance is often cited as the major barrier to improved energy

efficiency – Steven Fawkes questions the perceived wisdom and looks to how companies are able to make efficiency a

strategic objective

t was not surprising that respondents to the Water Energy & Environment energy efficiency survey* cited finance as the number one barrier to improving energy efficiency. This has

been the refrain of energy managers and consultants as long as I have been involved in energy efficiency (more than 30 years now). What exactly does it mean and why is it still true? An energy

real life); and thirdly, of course, the higher the IRR the better. Energy efficiency projects often have very high IRRs (quick payback periods) but are not approved. One barrier is the very real perception problem that cost-cutting is never as attractive as generating revenue – just as at home, saving is never quite as rewarding as spending! In commercial

management programme is a machine on two levels: one for controlling energy usage day-to-day (through the use of tools such as monitoring and targeting); and one for identifying and developing a flow of viable capital projects for the

organisations leaders tend to be

Despite high and volatile energy costs and threats to security of supply, energy is not regarded as strategic in most organisations

organisation to invest in. If an

promoted by generating revenue rather than by cost-cutting. Energy efficiency also suffers from being very boring – it is seriously uncool – a hard thing to swallow for efficiency professionals. Maximising the internal flow of

organisation is reporting finance as a barrier, I assume it has

capital into energy efficiency requires:

developed more viable projects than it has approved for funding. If

• senior management to appreciate that efficiency is strategic

an organisation is not developing more projects than available

• increased confidence that the promised results will be delivered

finance, then lack of finance is not really a barrier at all and in some

• better projects with better business cases.

organisations finance may be more of an excuse than reality – but let’s assume that is a small proportion of the total universe.

Let’s look at these in turn.

If an energy management programme is effective and producing more viable projects to invest in than are being approved, then the problem becomes one of how to increase the flow of funds into energy efficiency. Capital in any organisation is always limited and there are many claims on available capital – in classic capital budgeting three principles apply: firstly “offensive” capital spending, such as new

Efficiency is strategic Catherine Cooremans at the University of Zurich has highlighted that strategy is about increasing competitive advantage, which has three dimensions: perceived value of the product; costs of production; and risk. Energy efficiency can affect all three dimensions and is therefore

product lines or expansion of existing ones, will have priority over

in fact strategic. Despite high and volatile energy costs and threats

“defensive” spending such as cost cutting.

to security of supply, energy is not regarded as strategic in most

Secondly, all projects with an Internal Rate of Return (IRR) greater than the cost of capital should proceed (rarely achieved in

organisations. Related work at the IEA has looked at the many co-benefits of energy efficiency, which include those internal to the …continued on page 28

financing energy projects

Finance is perceived as the biggest barrier to implementing energy efficiency projects

financing energy projects

…continued from page 26

organisation, those in the energy supply system and those in the

strict three-year payback rule – when it was rejigged using integrated

wider environment and society.

design it did and got approval. As well as developing better projects

The IEA highlights that co-benefits such as increased productivity

through integrated design energy managers and consultants need to

and increased employee engagement can be worth far more than the

develop better business cases – identifying and valuing the strategic

energy cost savings. Most business cases for energy efficiency simply

and other co-benefits that come from energy efficiency. Valuing some

look at energy cost savings and not strategic issues or co-benefits.

of these benefits is not easy but businesses routinely value soft

This tendency is heightened by the belief that energy is somehow

benefits for other types of projects, particularly in advertising and

special (the duality is that it is and it isn’t) and by energy consultants

marketing. In the 1980s there was a need to train energy managers in

and auditors. Although I am in favour of both standards for audits

financial appraisal techniques such as IRR – now we need to increase

(EN16247) and the new compulsory audits under the Energy

their capacity to identify and value co-benefits.

Savings Opportunity Scheme (ESOS), I have a big concern that neither of these identify co-benefits or the strategic nature of

Better business cases

efficiency and that we are in danger of undertaking another

An effective energy management programme that develops more

generation of energy audits that produce very little action – just like

high return projects than can be funded from internal sources also

we did every decade from the 1970s.

raises the question of external finance through some form of shared

More effort needs to go into increasing the understanding of the

savings. Although shared savings is not new – it dates back Boulton

strategic nature of energy efficiency – particularly amongst senior

& Watt in the 1700s – its growth has been hampered by many

management who decide on capital allocations.

factors including small project size, lack of trust in the results, black box business models and high costs of capital.

Confidence in results

Large institutional investors, market intermediaries such as

We need to increase confidence in the projected savings among

specialist funds, energy service companies and energy suppliers are

investment decision makers. Project performance risks cannot be

all looking for ways to scale the market. New models are emerging

discounted – although they often are by energy managers – and

that offer the potential to turn efficiency into an outsourced service,

efforts to minimise them should be taken. These should include the

analogous to those used in telecoms and IT. If true outsourcing

use of standardised development protocols such as those of the

models can reduce net cash flows they should be attractive. Using

Investor Confidence Project (www.eeperformance.org) in the US

these models, along with protocols such as the Investor Confidence

and soon to be introduced to Europe, and better risk analysis of the

Project, should enable massive scaling up of energy efficiency

variables that have the most effect on project performance.

investment and ultimately use of the $100 trillion bond market –

Following implementation, at least for major projects, actual

opening up an effectively unlimited pool of investment funds. At

performance should be measured by Measurement & Verification

that point we can finally stop citing finance as the major barrier to

and regular reporting and corrective action implemented. The

energy efficiency.

falling cost of metering and IT make this more possible than ever but it is surprising how few organisations actually do this. Only

*To see the survey visit theenergyst.com

through post-investment monitoring can you learn from mistakes and increase investor (CFO) confidence in future project proposals. Often energy efficiency projects, sometimes driven by vendors, are developed in a vacuum. An integrated approach, to project development – integrating non-energy aspects of the business and other efficiency projects – can greatly improve returns and reduce performance risks. When the efficiency upgrade at the Empire State Building was first developed it didn’t use integrated design and the additional capital required did not meet the owner Tony Malkin’s

Steven Fawkes is active in energy efficiency financing and the author of “Energy Efficiency” published by Gower and the blog onlyelevenpercent.com

carbon capture & storage

Satisfying the energy needs of a

global population set to reach

9.7 billion by 2050 presents a major climate change challenge. With major

economies still heavily dependent on coal, oil and gas to provide power, fossil fuels look set to stay

he good news is that there is a technology which allows

bring forward any CCS projects and limited progress on developing

us to continue to use fossil fuels, whilst also securing

a suite of projects thereafter. However, reassuringly, there have

emissions cuts and affordable power – Carbon Capture

recently been a number of developments in the UK policy

and Storage (CCS). Put simply, CCS works by capturing emissions

landscape and individual flagship CCS projects, indicating that this

from fossil fuel power plants and industrial facilities, transporting

exciting new UK industry may just be poised to finally get going.

them by pipeline to carefully selected offshore sites, where they are injected deep under the seabed for permanent storage. CCS

The need for CCS

will be needed in the foreseeable future to balance the inflexibility

CCS removes approximately 90% of CO2 emissions from fossil

of nuclear and the intermittency of renewables. Most appealingly,

fuel power stations and industrial facilities. Inclusion of CCS

CCS promises domestic security of supply, whilst also offering the

within a mix of low–carbon technologies is the lowest cost route

prospect of energy bill reductions for consumers.

to decarbonisation – evidence from the International Energy

However, progress in implementing CCS in the UK has been painfully slow. We’ve seen a Competition in 2007 which failed to

Agency shows that without CCS, the cost of meeting a 50% global CO2 reduction target by 2050 would increase by 40%. Closer to home, the Energy Technologies Institute concluded that the cost of delivering a UK low–carbon energy mix in 2050 without CCS, would increase by £30–40 billion per year, or 1% of GDP. Economic benefits of CCS CCS is not simply a climate change mitigation technology; it represents a major investment in UK infrastructure bringing with it real benefits to the economy. The global market for CCS is expected to be worth trillions of dollars by 2050 with a UK share worth £2–4 billion per year. A recent joint TUC and Carbon Capture and Storage Association (CCSA) report, ‘The Economic Benefits of CCS in the UK’, found CCS could create between 15,000 – 30,000 UK jobs annually by 2030 and help retain an even greater number. Moving beyond power, CCS is also a vital technology for many industrial sectors. CCS is the only abatement measure for carbon– intensive industries such as steel, cement and refineries, due to the fact that CO2 is process as well as fuel–generated. The potential to develop CCS cost–effectively for these vital industries will have a …continued on page 31

carbon capture & storage

…continued from page 29

tremendous impact on their continued existence at a time of

stations fitted with CCS by 2030 (not to mention additional

increasingly stringent climate change legislation.

industrial CCS facilities). What is now urgently needed is a steady

But what does this mean for the energy consumer? The joint

roll–out of projects to ensure that CCS becomes cost–competitive

CCSA and TUC report shows that in a decarbonised world,

with other low–carbon technologies in the 2020s. Fortunately, there

adoption of CCS could result in a 15% reduction in the wholesale

are encouraging signs that the Government is becoming aware of

price of electricity by 2030 – translating to a healthy £82 reduction

this. In its ‘Response to the CCS Cost Reduction Task Force’, the

in household energy bills per year.

Government recognised the need for a second phase of CCS projects, and more importantly, noted that these projects need to be

CCS development With such clear benefits for both the consumer and UK plc it’s

developed in parallel with the current competition projects. Fortunately, such second phase projects are already under

disappointing that such a transformational technology has not

development. There are at least two projects which were not selected

developed quicker; especially when the worldwide picture is so

in the competition that are now trying to find a route to market.

promising. In its 2014 Global Status of CCS report, the Global

They should be able to access a Contract for Difference (CfD) under

CCS Institute identified 12 large scale CCS projects in operation

the Electricity Market Reform framework but there is currently very

around the world and nine others in construction. The first two

little clarity on how CCS projects beyond the competition can access

CCS projects on a coal–fired power station are due to begin

a CfD and whether there is even sufficient funding available for

operation this year – in Canada and the USA. But here in the UK,

non–competition projects in the overall budget (Levy Control

we have been slower to get CCS projects running and realistically

Framework) of £7.6 billion. CCSA has called for clarification from

it will be a few more years before the first commercial–scale CCS

Government on these crucial points. Without such clarity, there is a

plant is operational. So what’s the story behind CCS and how does

very real danger that the non– competition projects could be shelved

the UK realise the full benefits?

– threatening the creation of an entire industry as developers move

Following a difficult competition launched in 2007, the Government remains committed to delivering CCS and in 2012 launched a new,

on, skills are lost and the supply chain stalls. What is needed for CCS in the UK is a vision which clearly

re–vamped CCS Commercialisation Programme (competition).

articulates the process for second phase CCS projects and how

Two projects have been taken forward and selected as preferred

they transition into follow–on projects. The CCSA and TUC

bidders. Both are now progressing with Front End Engineering and

report identified five to seven ‘shovel ready’ power and industry

Design (FEED) studies – they are, the White Rose project at the

CCS projects in the UK which could deliver real benefits in the

Drax site in Yorkshire and the Peterhead Gas CCS project in

lifetime of the next parliament. With decisive action from the

Scotland. FEED studies are expected to last for approximately

current government, these projects could begin operating soon

eighteen months – after which final investment decisions will be

and form the foundations of a thriving UK CCS industry. It is well

made, with projects expected to be operational by 2020.

understood that with every tonne of fossil fuel consumed without

In a promising development, as part of the White Rose project,

CCS, our need to tackle climate change becomes an ever more

National Grid will be developing the “Yorkshire Humber CCS

critical challenge. CCS projects must succeed – so let’s all hope

Trunkline” – a pipeline able to transport a large amount of CO2 from

that this year is a good year for CCS in the UK.

a number of power and industrial emitters. The project will signal the birth of a CCS cluster in the Yorkshire/Humber region and will play a key role in the cost–effective decarbonisation of both power and industrial sectors in one of the highest emitting regions in the UK. From projects to an industry But two projects are far from making an industry. CCSA and the TUC estimate that the UK will need approximately 15–25 power

The CCSA works to raise awareness, both in the UK and internationally, of the benefits of CCS as a viable climate change mitigation option, and the role of CCS in moving the UK towards a lowcarbon economy.

Case study

GDF SUEZ expertise drives energy management at Ford

ord of Britain operates two manufacturing plants in the UK,

purchasing decisions are informed by market data supplied by

plus several smaller locations, with a combined gas and

GDF SUEZ Energy UK, providing the most up-to-date information

electricity consumption of 1TWh.

on market movements, current trends and forecasts.

GDF SUEZ Energy UK has supplied gas to the company for the past

Early in its relationship with Ford, GDF SUEZ Energy UK

ten years and, in 2008, won the contract to supply both electricity and

developed a bespoke forecasting tool for the motor company, which

gas to all Ford sites in the UK. Since then, the relationship has

gave predictions for forthcoming energy consumption and costs, based

developed year on year, with additional services added to meet Ford’s

on the latest data, helping the company to budget far more accurately.

desire to carefully manage its energy costs, reduce its overall energy

“This was a very slick tool indeed,” says Dave Wood. “GDF

consumption and achieve ambitious environmental targets.

SUEZ Energy UK refined it for us over time to make it even more

Dave Wood, Supervisor of Energy Programs UK and

accurate. It’s additional services like this that have encouraged us to

Sustainability at Ford Motor Company, says: “Over the years I have come to recognise GDF SUEZ Energy UK as one of the best suppliers in the marketplace. Not simply for its energy contracts,

stay with GDF SUEZ Energy UK as our supplier for so long.” Embedded energy-efficiency specialists In 2011, the Ford Global Vice President for Manufacturing announced

but for the management services, proactive support and back-office

a new target for the company of a 25% reduction in energy use by 2016.

services it provides to add considerable value to our relationship.”

That meant a five per cent reduction in energy use each year for five years. Dave Wood recalls: “At the time we thought this was a bridge to far.

Flexible energy purchasing – with added-value benefits

We just didn’t have the resources to implement that kind of energy-

Ford purchases its energy through flexible contracts which

reduction programme. It seemed simply unachievable.”

enable the company to secure any volume of gas or electricity at any time for the months, weeks and seasons ahead. These

At this point, GDF SUEZ Energy UK introduced Ford to its energymanagement sister company, Cofely, and offered a solution to help Ford achieve its tough energy-efficiency target. Cofely provided the services of three energy-management specialists, who would be based at Ford plants with a roving commission to devise effective energy-efficiency measures. These measures ranged from investments in new plant and equipment to cultural change programmes and new engineering processes. Uniquely, the services of these on site specialists were provided as part of the energy supply contract, so there were no additional consultancy fees for Ford to pay – keeping the contract as simple to administer as possible. Roy Stamer, GDF SUEZ Energy UK Account Manager for Ford, says: “We can only offer this sort of combined service because we are part of the wider GDF SUEZ group. It means we can adapt contractual arrangements

Case study

Trading insights optimise energy purchasing The most recent service enhancement offered to Ford is the support of GDF SUEZ Trading to refine the company’s energy-purchasing strategy. The energy trading specialists at GDF SUEZ conducted a detailed review of Ford’s purchasing activity over the past ten years and compared this against energy market performance. This enabled GDF SUEZ Trading to devise an effective new strategy that best suited the car manufacturer’s budgets, attitude to risk and to make it as simple and cost-effective as possible for customers to manage

objectives. Ford still makes its own decisions about when and how much

their energy using the wide range of group services available.”

energy to purchase at any time, but these decisions are now based on an

The consistent, precision manufacturing processes at Ford factories mean that savings identified at one plant can be replicated at all others

intelligent strategy and clear guidance from GDF SUEZ Trading. “This new arrangement has only been in place for around six

carrying out the same activities. Such economies of scale meant the

months but the results so far are absolutely incredible,” continues

company could quickly act on Cofely recommendations to reduce

Dave Wood. “The clever statistical analysis applied by GDF SUEZ

energy consumption across its plants.

and the processes put in place have enabled us to continuously

“Incredibly, we are now fully on track to achieve the 25% energy

‘beat the market’ and really optimise our purchasing.”

reduction that had seemed so unachievable at the outset,” says Dave Wood. “Some plants are even moving towards carbon neutrality, which is a huge achievement.”

Best-in-market proactive account management Dave concludes: “Working with GDF SUEZ Energy UK makes

Support for capital investment

my life as an energy portfolio manager so much simpler. The account

However, the slow rate of return offered by some of the energy-

management support is second to none – I can rely on them to do a

efficiency investment projects identified by Cofely fell short of

great part of the thinking for me. They are continuously contacting

Ford’s criteria for investment returns, so the company was unable

me about new opportunities or legislation or charges that I need to

to finance them up front.

be aware of. It’s the ultimate unprompted proactive account support.”

To overcome this obstacle, Cofely came up with the idea of Energy Performance Contracts (EPCs). These allow Cofely to invest in the capital cost of new equipment, such as variable speed drives, and then lease it to Ford for five years. Cofely offers Ford a guaranteed threshold of savings over the five-year contact. Any savings in excess of this threshold are retained by Ford, while Cofely absorbs the cost of any under-performance.

David Hall Head of Sales GDF SUEZ Energy UK www.gdfsuez-energy.co.uk @GDFSUEZEnergyUK

demand side management

procurement should not be seen in isolation, but

Energy

rather as one key aspect of overall energy policy, argues Robin Hale, director of the ESTA. And at the heart of that should be the effective

and

efficient management of energy relatively small part of overall costs, it has an

what might such a policy look like in detail? For a start, it will

importance well beyond its position in the profit-

have at its core a commitment to using this scarce and expensive

and-loss account. It provides a snapshot of the commitment to

resource as efficiently as possible. Most larger firms and public

efficiency in general and an awareness of environmental

sector organisations have an energy or facilities manager.

stewardship.

However, in a surprising number of cases, the procurement

hile for most organisations, energy remains a

Energy is an essential part of everyone’s operations – no-one

So, in the context of affordable, secure and sustainable supply,

process takes place elsewhere – perhaps in the finance

can do without it. As a country, the UK needs to ensure,

department. If that is the case and the energy policy does not

affordable, secure and sustainable supplies if the economy is to

include the insights and priorities of the energy manager, then

prosper. That universal aspect to energy supply is what makes it

opportunities for expenditure savings will be missed or ignored.

so vital and why it recurs so frequently in political debate.

The UK government and the European Commission regularly

There was a time, a couple of decades ago, when energy

quote the potential for energy savings at around 20% of a typical

suppliers were achieving significant savings through efficiency

budget. Some organisations do better than that – which implies

improvements (in the wake of privatisation) and were vying with

that some do much worse. ESTA’s experience suggests there are

each other to win customers through lower prices. Those days, as

lots of businesses as well as public sector bodies that could save

everyone knows, are long gone. Supplier offers are typically very

much more.

similar to one another and the onus has fallen back on the customer to win a better deal.

The first task, even before contacting potential suppliers, is to work out what the basic energy requirement is. That means establishing where the energy is being used, and how much is

What do you want?

dedicated to specific processes and tasks. Part of this assessment is

The first and most important question is: what exactly do you

to work out how efficiently the equipment is being run because if

want to purchase? Too often, in a hard-pressed and busy working

the consumption can be cut, then so can the expenditure on

environment, the default answer is: “the same as last time, please”.

energy.

But if that is the answer, the offer is certainly not going to be a less

If the resources are available in-house all well and good. It may

expensive deal. Worse, it may not take account of new

be though that an external specialist can provide additional

opportunities or changing consumption patterns.

expertise and experience – including knowledge of best industry

Energy purchasing has to take place in the context of the overall

practice, for example. ESTA maintains a list of such specialists in

energy policy. Without a clear understanding of both the current

its Independent Energy Consultants Group (IECG) and jointly

situation and the aims of the business in terms of its energy

operates with the Institute of Energy a Register of Professional

future, the procurement process is likely to be ineffective and

Energy Consultants (RPEC).

confused.

For larger energy users, there will already be an obligation to …continued on page 36

demand side management

â&#x20AC;Ścontinued from page 34

or inefficient equipment can be identified and then options for

record energy and emissions, through the EU Emissions Trading

rectifying the problem can be addressed. But under what

Scheme, Climate Change Agreements (CCAs) or the CRC Energy

circumstances do you replace or repair? That should be reflected

Efficiency Scheme. From 2015, private sector non-SMEs will also

in the energy policy. For example, if there is a goal of switching to

have to undertake a regular energy audit under the Energy

in-house renewables or Combined Heat & Power (CHP), then

Savings Opportunity Scheme (ESOS). The latter for example will,

this may affect the replacement rate and timing. If the goal is to

in nearly all cases, requires the input of an external lead auditor.

reduce carbon emissions as quickly as possible, this may influence timings and investment but give a different result. If there is no

Prioritising

formal energy policy, then how is an organisation to decide

It is important to note here that collecting information about

between different options?

current usage is not the only aim of this exercise. Faulty, obsolete

It is important to confirm that energy systems are working in

demand side management

harmony, not against each other. The classic case is when heating

operating and maintaining the equipment and systems. The

and air-conditioning systems are controlled separately and have

contractor is also responsible for the energy procurement process,

overlapping set points, leading to both systems being on at the

sourcing the energy supplies themselves.

same time, fighting against each other – and wasting energy. Another important aspect is to make sure that equipment is not

While the customer still has to negotiate a deal with the contractor, they are able to shed a great deal of the risk associated

running unnecessarily. There may be good reasons for leaving

with their energy procurement and operations. These contracts

machinery on rather than switching off, but that needs to be

provide a guaranteed reduction on energy costs, so they reduce

verified. Otherwise, it is a case of wasting energy and incurring

the customer’s energy spend from Day One. There are a number

avoidable expenditure. If the heating comes on an hour before

of these specialist energy service contractors – ESTA includes a

business begins on a winter’s day, that will cost much less than

number of major providers in its Contract Energy Management

leaving it on overnight!

(CEM) group.

Once the demand has been reduced and wastage eliminated,

Regardless of the route chosen, to be really effective for the

that gives the baseload demand. That is stage one. Before going to

energy user, procurement has to reflect the direction and goals set

the energy suppliers, though, there is the challenge of building a

out in the organisation’s overall energy policy. And this policy in

‘profile’. Energy – particularly electricity – varies in price

turn has to have the efficient management of energy systems at its

depending on time of use. How much flexibility is there in

very heart. Without a commitment to the systematic management

moving demand to less expensive times of day? Is it possible to

of all aspects of energy use, it will not be possible to optimise and

stop using gas completely at short notice – in which case a less

integrate all of an organisation’s energy systems so that they

expensive rate for an interruptible supply may be available?

operate in harmony and with maximum efficiency.

The profile will be one of the key pieces of information against

The rooting out of waste and the drive for greater efficiency

which the suppliers will make an offer. It is one of the areas where

should inform all policies across an organisation – and the

the customer can affect the outcome. By managing energy use

approach to energy procurement and consumption should be no

within the organisation, a better deal on procurement can be

different. If a valuable resource like energy is not managed well,

achieved.

then an organisation will be faced with higher costs and lower

Having identified the organisation’s energy and carbon footprint, the procurement exercise will once again draw upon the

profitability or, in the case of public sector organisations, lower service levels.

overall energy policy. Does this require a move to lower carbon or

Energy efficiency and energy management are at the heart of

renewable resources – and over what time period? Is there a target

any successful energy policy – and energy procurement process.

for in-house energy generation over time and how will this be achieved? Or is minimising price the only consideration (in which

The Energy Services and Technology Association (ESTA)

case the unit price may have to be balanced against carbon taxes).

represents over 100 major providers of energy management equipment and services across the UK. For more details visit the

Energy Performance Contracts

website at: www.esta.org.uk

For some energy users, there are benefits in outsourcing the whole energy procurement and management process through an Energy Performance Contract. These can be particularly attractive for larger organisations with a number of sites and a backlog of maintenance or upgrading that needs significant investment. These are typically 15-20 year contracts and will involve an overall budget of £500,000 or more. The benefit for the customer is that the contractor takes over much of the risk. These thirdparties become responsible for sourcing, purchasing, installing,

Robin Hale Director Energy Services and Technology Association (ESTA) www.esta.org.uk

heat strategy

A new cross-party report calls on the next Government to set

a policy priority for the coming decade

heat as

Carbon Heat for Buildings, calls on the next

Energy Minister, Jonathan Reynolds MP, said: “This report is an

Government to set heat as a policy priority for the

important contribution to the debate about the future of heat

coming decade. The report takes stock of what we understand

policy in Britain. If we are to meet our carbon reduction

today about the challenge of decarbonising heat for buildings by

commitments, we need to think about how we use energy and

comparing six pathways for the sector to 2050 from a variety of

heat our homes. I welcome Carbon Connect’s report and

different organisations (DECC, CCC, ETI, National Grid,

commend the cross-party, evidence-based and constructive

UKERC, Delta EE).

approach they’ve taken.”

new independent report, Pathways for Heat: Low

Chaired by Shadow Energy Minister, Jonathan Reynolds MP,

Speaking ahead of the launch, inquiry co-chair and Shadow

Fellow inquiry co-chair and Conservative member of the

and Conservative member of the Energy and Climate Change

Energy and Climate Change Parliamentary Select Committee,

Select Committee, Dan Byles MP, the report is written by cross-

Dan Byles MP, said: “Firstly, there is no one solution to cutting

party think tank group, Carbon Connect. Sponsored by Energy &

emissions from heating homes and buildings, instead we have a

Utilities Alliance (EUA) and the Institution of Gas Engineers and

range of options including energy efficiency, gas heating, electric

Managers (IGEM). Together, the pathways examined in the report

heating and district heating. Secondly, now is the time to step up

paint a picture of the nationwide transformation getting underway

our efforts, prioritise and prepare for transforming the way we

in how we heat our homes and buildings. The report identifies

heat our homes and buildings.”

that by 2050, gas used to heat buildings could fall by 75-95%,

electricity increase from a 10% share today to 30-80%, and district

Where are we today?

heat increase from less than 2% to up to a 40% share. At the same

Heat accounts for nearly half of the energy consumed in the

time, energy efficiency could help to lower bills and offset the

UK and a third of carbon emissions. Around 80% of heat is used

expected growth in our heating needs from an expanding

in homes and other buildings, and gas dominates the fuel mix

population and building stock.

meeting around 80% of consumers’ heating needs. Industrial heat

Across most pathways examined in the report, mass deployment of low carbon heat solutions ramps up in the lead-in

makes up the remaining 20% and is also an area in need of more attention from policy makers.

to 2030. Carbon Connect’s overarching recommendation is that

the next decade should be spent preparing by developing a robust

Gaps in the evidence base

strategy for decarbonising heat in buildings while testing and

By comparing six pathways and taking stock of what we

scaling up delivery models. The report calls for the next

understand today, Carbon Connect identifies areas where more

Government to prioritise these preparations in the same way that

work is needed to shape a robust decarbonisation strategy for heat

preparing for power sector decarbonisation has been the

in buildings. In some cases, work is already underway to build a

overriding focus of energy policy in the past decade.

better evidence base, but more is needed to understand the …continued on page 40

heat strategy

…continued from page 38

impact of emerging evidence on pathways. Carbon Connect calls for new local area pathway studies to

Generally, the pathways assume that new buildings have high energy performance standards, reflecting the lifetime benefits of efficient buildings. However, the report points to a risk that new

complement existing national studies, and fill in missing detail on

regulations, such as Zero Carbon Homes, will not fully correct

energy networks, the geography of the energy system and

market failures and deliver buildings to the high standards

characteristics of the buildings stock.

assumed across the pathways.

More work is also needed to understand how to meet high heat demand in winter cost effectively, and also to understand consumer and supply chain attitudes that will be critical for success of any decarbonisation strategy.

Gas In all the studies examined, gas used to heat buildings falls by at least three quarters by 2050, and sometimes by as much as 95%, to

meet carbon targets. Some pathways also identify hybrid gas/

Energy efficiency

electric heating as a valuable transitional technology that is readily

The report finds that energy efficiency could offset growth in

acceptable to consumers, takes some pressure off the electricity

heat demand expected from an expanding population and building stock to 2050. However, the amount of retrofit efficiency

system and cuts carbon. Meeting peak heat demand, particularly in the winter, is a

measures varies considerably across the pathways, particularly for

challenge and some studies see a continuing role for gas networks

more expensive measures such as solid wall insulation.

as a cost effective tool for this. However, how much of the gas

heat strategy

Recommendations The next Government must scale up and prioritise efforts to

The Government should commission an independent study

prepare for decarbonising heat in buildings. This should involve

to bring together technical and economic assessments of tools

building a better evidence base to shape a decarbonisation

for meeting peak heat demand in decarbonisation scenarios

strategy for the sector, as well scaling up deployment of

with an assessment of how tools interact with energy networks.

solutions in parallel, so as to develop delivery models and meet

This should build on work improving Government’s

carbon budgets.

understanding of existing energy networks.

The Government should build on the work of the Smart Grid

The Government should improve its understanding of

Forum and improve the representation of energy networks in

consumer and installer attitudes towards heat solutions to help

the national and local area pathways analyses it uses to inform

assess how acceptable different pathways for decarbonising heat

strategy. It should also consider improving transparency and

in buildings are to consumers from a non-financial perspective.

access to network information to facilitate independent

Both will be crucial in determining the success of

assessments.

decarbonisation strategies.

The Government should commission independent studies of

Pathways analyses should be presented more transparently

pathways for decarbonising heat in buildings within a small

and their assumptions and limitations should be communicated

number of contrasting local areas. The pilot studies should

more effectively to improve their usefulness. They are complex

include detailed geographical, energy network and building

pieces of work, and there is a risk that the results are

stock representation which will enable them to be used to better

misunderstood because there is not enough context to

understand the impact of limitations in existing national energy

understand their assumptions and limitations.

system models. networks might remain in 2050 and where is not well understood

of network and power station upgrades needed to meet peaks in

because studies do not include much detail about networks and

demand. The report recommends more work to better understand

geography.

the variety of tools for meeting peak demand.

Biomethane and hydrogen both offer the potential to use gas networks to provide low carbon heat. However, the availability of both ‘green’ gases is uncertain and most studies suggest that they

District Heat District heat is the biggest piece of the jigsaw missing from the

would be more cost effectively used to decarbonise industry or

puzzle of future heat for buildings. Most studies largely ignore the

transport rather than buildings.

geography of the energy system that is critical for understanding

Electricity

the potential for district heating. The studies show that district heat could provide up to 40% of

Across the pathways looked at by Carbon Connect, the share of

building heat, but much more work is needed to understand the

heat from electricity increases from around 10% today to between

cost of district heat in the UK and how schemes could work at a

30% and 85%, mainly through heat pumps. Resistive storage

local level. The establishment of the Heat Networks Delivery Unit

heating could also play a role in the most efficient homes and help

in DECC is a welcome sign of progress.

to balance the electricity system. Hot water tanks and improved energy efficiency are both important to make homes and buildings suitable for electric heat pumps. However, hot water tanks are currently being removed from at a considerable rate and energy efficiency improvements have stalled. More recent studies have suggested that electrifying a large proportion of building heat could be an expensive option because

Carbon Connect is the independent forum that facilitates discussion and debate between business, government and parliament to bring about a low carbon transformation underpinned by sustainable energy.

CASE STUDY: gatwick airport

Haven helps Gatwick meet key

objective

sustainability

ne of the world’s largest airports, Gatwick, has made the move to renewable power – supplied by Haven Power – as part of its ambitions to be more sustainable.

As an independent airport seeing in excess of 35 million

passengers a year, building its own sustainability framework for the way the airport is operated has been a focus for Gatwick, which published a set of 10 objectives in 2010 called ‘Decade of Change’. These objectives relate to community, economy, carbon, air quality, noise, transport, energy, biodiversity, water and waste, with the goal of not only improving its environmental performance by 2020 but also modernising the airport in the most sustainable way. The carbon objective includes a requirement to source at least 25 percent of Gatwick’s energy requirements from renewables within

Bilton. “Throughout the whole company we have looked at how we

the specified timeframe. This led to the airport tendering its

can reduce our carbon impact, and as well as the Decade of Change

electricity contract out in a bid to find a supplier to help meet this

objectives which provide a focus, we have set up a Carbon Council to

goal. And, with a contract totalling 150GWh, it needed a supplier

agree carbon initiatives at a more detailed level. This team of

that could service this level of energy usage.

representatives meet every couple of months to ensure environmental

“Sourcing renewable power was an important step in meeting our Decade of Change objectives”, comments Utilities Manager, Martin

schemes have a joined-up approach, in order to maximise results.” So, what was Haven able to offer Gatwick that matched its aspirations so closely? As part of the Drax Group, Haven is perfectly placed to offer renewable power which is exempt from the Climate Change Levy* (CCL), a tax levied by the government on fuels used by businesses, including electricity. And, with Drax Power Station transforming into a predominantly biomass-fuelled generator, it can offer a secure supply of renewable power now and in the future. Customers such as Gatwick can also rest assured that throughout the entire supply chain – from forest to furnace – Drax assesses the carbon footprint of its activities. This is to ensure that burning biomass to produce electricity delivers significant carbon savings when compared to burning coal. “Being able to take 100 percent renewable power from Haven has

CASE STUDY: gatwick airport

meant that we have exceeded our target of sourcing 25 percent of

for the business as a whole and to demonstrate their responsibility in

our energy from renewables – in just one purchasing decision – as

this area. It’s been great to get to know the team at Gatwick and learn

thanks to Haven we are now sourcing over 70 percent of our energy

more about their carbon reduction schemes. It’s clear that they are

from renewables” adds Martin.

passionately committed to making the airport a world-leader in

As part of the procurement process, key figures from Gatwick, including Martin, were invited to Drax to see the transformation for themselves. Martin was impressed by the lengths the company has gone to, to ensure each part of the biomass conversion is as

sustainability and we are excited to be contributing to that.” *CCL exemption is available at no extra cost for customers using more than 15,000kWh per annum. CCL exemption is not available to customers with any other form of exemption in place.

sustainable as possible. “The entire operation, right through to the retail business, Haven Power, is very professional and ethical, and we are proud to support the Drax Group’s commitment to sourcing, generating and supplying renewable power.” Head of I&C sales at Haven, Ashley Phillips, comments: “We are seeing more and more major energy users develop their own sustainability objectives, just as Gatwick has done, to provide a focus

For more information on Gatwick visit www.gatwickairport.com For more information on Haven Power visit www.havenpower.com

ESOS and iso50001

Kit Oung highlights the efficacy of

using a certified

ISO50001-based energy management system and suggests how organisations can use ISO50001 to meet the requirements of ESOS

ECC has launched the UK’s Energy Savings Opportunity Scheme (ESOS) – a transposition of EU’s Energy Efficiency Directive’s (EED) Article 8. It

requires organisations to carry out an energy assessment by 5 December 2015 and every four years thereafter. The energy assessment has to cover 90% of the total energy consumed (either by energy consumption or energy cost basis) and includes energy use by buildings, manufacturing processes and transport within each undertakings. Apart from carrying out an energy assessment, ESOS also specifies several alternative routes for compliance, one of which is a certified ISO50001based energy management system. A survey by Economist Intelligence Unit reports that more than 60% of organisations use a management system to manage energy. ISO50001 was developed by an international collaboration of experts. The standard sets a minimum specification for a management system specifically for managing energy use, energy consumption, and energy efficiency. Its success lies in two in-built features of a management system: 1. The use of a simple and proven management structure. 2. Gaining commitment of senior management. Structured management based on operational data was first established by Frederick Winslow Taylor in 1911. This was later formalised by W Edwards Deming to consists of planning, doing, checking and (taking corrective) actions. Its use of simple language lends a hand to make it easy to remember and apply. The idea of a management system necessitates the buy-in and active participation of senior management. When using ISO50001, senior management is required to actively participate in setting the energy policy, putting the …continued on page 46

ESOS and iso50001

…continued from page 44

relevant resources in place and to make sure improvements

3. When carrying out an ISO50001 energy review, it should

happen as planned. What sets ISO50001 apart from the rest is it

include 90% of the energy consumed (or pays) identified in

also require the organisation to demonstrate continual

the above scope and boundary.

improvements in energy performance.

• For organisations operating from one location, this

Data from Ireland, Netherland, Denmark and the US indicates

would be 90% of the energy consumption in that

that those new to ISO50001 are expected to, on average, achieve 10%-20% savings and achieving the savings 50% to 67% faster

location. • For organisation operating from multiple sites or

than business as usual. Organisations with a mature energy

buildings, the energy review could be done by site/

management practices can continue to achieve savings even

buildings, by energy users across the organisation or

after 15 years. Since ISO50001 was launched in 2011, more than 7,100

other combination. • If less than 90% of the energy consumption is

organisations globally have adopted the ISO 50001 as their

included in the energy management system, and is

management system of choice. In the UK, 350 organisation have

also not covered by other exemptions, an energy

sought third party assurance that their management system

assessment is required to cover the balance of energy

conforms to ISO50001. Comparing the number of organisations

consumption making up the 90%.

certified to ISO9001, ISO14001 and ISO50001 in the first three

4. Even though organisations using a certified ISO50001-based

years, ISO50001 certification has surpassed those of ISO14001

energy management system are exempt from an energy

and is exhibiting a similar growth rates to ISO9001.

assessment, organisations will still need to complete and submit an ESOS evidence pack. The ESOS evidence pack

How to Use ISO50001 to comply with ESOS

will need to be signed off by a board-level director. In the

There are two reasons organisations certified to ISO50001 are

absence of a board, two senior managers within the

exempted from carrying out an energy assessment. Firstly,

organisation can sign off the evidence pack.

ISO50001 contains an energy assessment called an “energy review”. Secondly, organisations using ISO50001 require top

In summary, an ISO50001-based energy management system

management to be actively engaged in managing, reviewing and

is a proven way to manage and drive improvements.

implementing opportunities for improving energy performance.

Organisations small, medium and large can benefit from

However, when using ISO50001 as an exemption, the

applying ISO50001. Its use is expected to grow on a global basis.

organisation should be mindful of the following points:

In the UK, large organisations can also use ISO50001 as a way to

1. The first task for the organisation would be to identify if

conform to ESOS regulation – a big plus indeed!

ESOS applies to them. Specifically, organisations employing

Kit Oung is a practicing energy manager using low-cost high

more than 250 people, have an annual turnover exceeding

return strategies. He is BSI’s expert on energy and

€50m and/or annual balance sheet exceeding €43 million is

environmental management, board member of the Energy

required to comply with ESOS. This is to be qualified,

Managers Association, and an advisory member of 2degrees

similar to CRC, as the highest parent organisation within the

Network.

UK. 2. When defining the scope and boundary for ISO50001-based energy management system, it should encompass all activities that uses energy including buildings, processes and transport. Choosing buildings and processes is relatively straight forward. When it comes to transport, if the organisation pays for the fuel or for the mileage, it is to be included.

Kit Oung is author of Energy Management in Business: The Manager’s Guide to Maximising and Sustaining Energy Reduction, published by Gower.

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BRITISH INDEPENDENT UTILITIES THE UKâ&#x20AC;&#x2122;S LEADING ENERGY CONSULTANCY

@BIUenergy

energy regulation

The European energy regulators’ bridge to 2025 energy proposals should guide the new Commission’s energy priorities

iquid, integrated electricity and gas markets, with a higher

energy markets (principally through the development of the

penetration of renewables and the consequent higher

CEER (The Council of European Energy Regulators) Consumer

requirements for flexible response, as well a more active

Vision)3; including establishing stakeholder panels of energy

participation of smaller consumers are the trends foreseen for the next decade in the ACER (Agency for the Cooperation of Energy

actors and consumer representative bodies; • to review and, where needed, improve the arrangements for

Regulators) Conclusions Paper “Energy Regulation: A Bridge to

regulatory oversight of the European Networks of Transmission

2025”.

System Operators (ENTSOs) and of other bodies (e.g.

Energy regulators presented their “Bridge to 2025” Conclusions Paper1 to high level European Commission officials and

nominated electricity market operators (NEMOs); and • to further improve the efficiency of some aspects of the

stakeholders in Brussels in September. The regulators’ Bridge to

regulatory decision-making process at EU level, while

2025 recommendations are based on a holistic analysis of Europe’s

maintaining those aspects which have proved to work effectively.

energy sector and are particularly timely as the new Commission

ACER director, Alberto Pototschnig, called for “determined

sets its EU energy priorities. The “Bridge to 2025” Conclusions Paper, which is the result of

action by the EU Institutions and stakeholders alike to fully implement EU legislation, including the network codes and the

extensive public consultation, identifies the trends foreseen in the

gas and electricity target models, to establish and maintain liquid,

ten-year period to 2025 and recommends a set of actions for

competitive and integrated wholesale energy markets and to

regulators, Member States, the European Commission and energy

deliver the tangible benefits which EU energy consumers deserve.”

actors (including consumers). Key amongst energy regulators’ cross-cutting proposals are:

Empowering consumers and integrating renewables

• to implement fully the Third Package framework;

Lord Mogg, chairman of ACER’s Board of Regulators and

• to establish a roadmap aimed at competitive and innovative retail markets by 2025; • to promote flexible response, and its provision by generators and consumers on a non-discriminatory basis; • to ensure that the market for new service providers is not foreclosed by incumbents; • to develop the Gas Target Model2 to help manage the uncertainty about future gas demand; • to promote security of supply through a greater consistency of assessment and policy mechanisms; • to protect and empower consumers to participate actively in

president of CEER, stated: “As Europe moves towards a low carbon society with a greater penetration of renewable sources, our energy systems need to become more flexible and smarter. Our recommendations seek to ensure that such flexibility is provided in the most efficient way and that consumers, who can contribute to this effort, continue to be properly protected in a changing environment. We also seek to remove any barrier to new service providers entering the market to help consumers manage their energy demand more efficiently and engage in the market more effectively. This requires collective action by all energy actors.” ACER’s “Bridge to 2025” includes proposals to develop markets

energy regulation

that truly benefit consumers such as the development of toolboxes of good practices to empower consumers, to regulate distribution system operators, a roadmap to enable consumers to switch within 24 hours, advice facilitating the phasing out of regulated prices, and the development of an appropriate framework for the evolution of the market to include demand-side response. The regulatorsâ&#x20AC;&#x2122; initiatives will be developed in the respective Work Programmes of ACER and CEER. Regulators will continue to work with all energy actors to meet future challenges.

The Council of European Energy Regulators (CEER) is the voice of Europe's national regulators of electricity and gas at EU and international level and works closely with and supports, while not overlapping, the work of the Agency for the Cooperation of Energy Regulators (ACER). www.acer.europa.eu | www.ceer.eu

Energy in industry

taxing of business has increased prices. Times have been difficult for companies Decarbonisation of the grid and the Government

emerging from the largest recession in living memory, how is

industry to cope with the challenge? industrial companies are facing legislative changes that

when it should be about the energy intensity of their processes and

will impact on their operating costs.

not whether they are on certain seemingly arbitrary lists.

more so than gas; there is direct taxation, such as the climate

cost. Compensation is digressive, starting at 85% of eligible costs

change levy (CCL) and the Carbon Reduction Commitment

for 2013-15, 80% for 2016-18 and 75% for 2019-20.

s well as potential energy price rises energy intensive

“There are a number of policy measures that affect electricity,

This inconsistency is a gripe for many energy intensive industries

Even when industries receive compensation, it is not for the full

(CRC), though less energy intensives are captured by this scheme,

Mr Nicholson says that “there is a somewhat bizarre theory that

carbon pricing with the EU Emissions trading scheme (ETS) and

not having full compensation increases the incentives for industry

in the UK’s case the self-inflected wound of setting and

to be more efficient, as if we didn’t already have one. As if

independent carbon price floor.

industry wants to get up in the morning and set fire to their

“The carbon price floor doesn’t reduce emissions overall within Europe because they are covered by a common cap, namely the

shareholders money unnecessarily.” If there is the threat of carbon leakage from the EU for energy

EU ETS. It does, however, increase the proportion of the burden

intensive companies operating within the ETS then surely full

that falls on UK consumers. The third element relates to subsidies

compensation should be granted as these companies are

for renewable energy and nuclear as well, comments Nicholson.

competing internationally where such schemes do not exist?

There is some protection for those that operate in industrial

“Arguably we might be better off if we had a slightly higher

sectors that are covered by climate change agreements (CCAs)

carbon price and less other interventions in the market but we’re

and these give a reduction on the CCL. Mineralogical

not there yet,” says Mr Nicholson.

transformations and metals production are exempted from downstream energy tax under EU law and up to 90% reductions are available for other industrial sectors. “This is a big tick for the government on formalising this,” says Mr Nicholson.

“Let the carbon price do its work. The object is to do things cost effectively, not to cause the most pain possible.” The unilaterally introduced UK carbon price floor has had to apply for state-aid exemption for energy intensive industries. The

Taxing carbon via a cap and trade model is the EU’s main

EU has deemed that the UK can only pay compensation for the

weapon for reducing carbon intensity. The EU ETS allows for

carbon price floor with eligibility on the same basis as EU ETS

certain qualifying industries to be exempt from the price impact

and is adamant about that even though the UK is the only

of this to protect European heavy industry.

country within the EU to have implemented such an own goal

“Chemicals and steel are on the list and so they will be compensated but if you are unlucky like a brick maker, which is

against its international competitiveness. “There are some very energy intensive industries that aren’t on

relatively energy intensive but for whatever reason wasn’t

that list such as industrial gases; they can receive state-aid for

considered worthy when the list was compiled a few years ago, then

renewable subsidies but not for the carbon price, which is bizarre,

you are not eligible to receive compensation,” states Mr Nicholson.

states Mr Nicholson. …continued on page 52

Energy in industry

…continued from page 50

The UK government has taken the view that the EU ETS is not providing a robust enough price for carbon and therefore has implemented its own price support. Has the UK carbon price floor undermined the EU ETS in any way? “There was consternation when this was announced as it was thought to be an uncommunitaire thing to do, although there was some sympathy for it from some environmental ministries elsewhere in Europe,” says Mr Nicholson. “As there wasn’t sufficient political support to implement similar measures elsewhere on an EU wide basis, the general response was ‘why are you doing this? Why are you doing it this way? How does that actually in practical terms help the case for the reform of the EU ETS?’ The EU has been fair about this in a legal sense but it is regarded as a headache that shouldn’t have been inflicted upon them. “Others in the EU are looking to reform their markets but we have done it in a complicated way with a multiplicity of measures. We are obviously unique in having our own carbon price and I don’t think there are CfDs in place elsewhere. Big wind generation and new nuclear do need something like this in place with high capital costs and low running costs but competition for the price of CfDs needs to happen,” he says. The CfD for new nuclear power stations is £92.50. Is that a fair price for low carbon generation? “EDF has obviously negotiated very successfully. You can make a case that £92 is cheaper than offshore wind, even with declining costs over time, it doesn’t have to have its own back-up for intermittency and grid extensions and so on. Whether wind is really low carbon generation depends on the carbon content of

saved then offshore wind is not the best thing to do. When the

the back-up,” says Mr Nicholson.

offshore wind industry claims that in a few years we will be able

“I don’t wish to denigrate nuclear when saying this, we all want

to produce at £100/MWh my response is fine we’ll give you a CfD

it as part of the solution for baseload supply and it will provide a

for that and you can sign on the dotted line. ‘Oh we can’t do that

huge amount of jobs at the site and for manufacturing along the

yet.’ The fact is that it is a long way from grid parity especially

supply chain. It’s got to be a good thing but not at any price.”

when you internalise the cost of back-up. You have to look at

“We don’t know that gas will be high or higher than it currently

dispatchable technology which wind isn’t, it might be generated

is in the coming decades; it’s unpredictable. The CfDs are indexed

exactly when you need it but on the other hand it might not,” he

linked and this is a high price to pay for power without a disaster

says.

scenario.” The problem as Mr Nicholson sees it is that the government is

“If you are interested in the least cost carbon reduction, doing it through carbon pricing whether it’s taxation or trading and giving

picking winners, valuing what is a better technology at

the market the maximum flexibility to find the most economically

government level rather than investors deciding and footing the

efficient solutions, it has got to the way to go, at least with mature

bill for the best options. “In terms of £/MWh or tonnes of CO2

technologies. There has always to be a case for less mature

Energy in industry

un-level playing field”, says Nicholson, “While they are exempt for paying for the renewable energy to be put in place, they benefit from artificially low wholesale prices when the wind blows and it is sunny. Half the German domestic bill is made up of subsidies. Of course, we look with some jealously at our German and French competitors.” The UK position is there will be compensation to RO, FiT and exemption from CfD costs. Carbon floor compensation has received state aid approval but only for those that get on the list. How is renewable compensation different to a carbon price one? The EU seems to think it is and yet it is to compensate the fact that international competitors do not have such costs to bear. “Energy intensity is what matters here and not what sector you operate within. The UK Government agreed with this yet the EU refuses to give state aid approval if you are not on the list. There is, however, provision for companies to be considered on their own merits if they are extremely energy intensive but consistency is not the hallmark of these regulations,” comments Nicholson. Capacity mechanism If you have a market where the supply and demand balance is tightening then the returns will be there without an intervention such as the capacity mechanism; when the margin only reflects the generation price, this occurs when there is over supply in the market. The market would have responded without a capacity mechanism eventually but would it have done it quickly enough? Nicholson asks, “how much liquidity is there over a year out in the UK market? CCGT is the closest we have to building a power technologies to have support if you want to accelerate the

station off the back of a lorry and the original quote will be

development of these,” says Mr Nicholson. There is an argument

accurate to within 10% yet there is no reliable forward curve to

for direct tax payer funding for technologies such as CCS rather

base the finances upon. There is a liquid market in oil, no corny

than levies on bills says Nicholson. He states that much of the

pun intended and so investment here is made. However, other

development of the nuclear industry, at least initially, had very

industries, such as steel, aluminium or Coca-Cola have plants

little to do with power generation as part of effectively a military

built without a strong forward curve.”

programme. “If you want breakthrough technologies that are

Will demand side balancing be the answer? “The Grid is

going to be transformative seems to require some sort of funding

planning to trial 330MW this year on demand side balancing

through taxpayers money.”

reserve, which is almost noise on the system. They won’t call on it if it is cheaper to call on supply that will balance the electricity

How energy intensives fare in Germany

demand. However, if an oil-fired plant comes out of being

Energy intensive industry in Germany is exempted to the tune

mothballed and is used for a week once every ten years then there

of 98.5% of the cost of its renewable subsidies. “The commission

comes a point when it is better to do something on the demand

has got its eye on German exemptions but at present there is an

side where you have more flexibility,” says Nicholson. …continued on page 54

Energy in industry

…continued from page 53

Is the electricity demand reduction (EDR) pilot a route to an

an example of this in commercial premises. I don’t know conceptually how you get around this problem.

effective method to help capacity? “It will be a good thing in

I don’t think energy efficiency will ever be on a comparable

principle for permanent demand reduction to be used in the

scale to generation in the capacity market. It may be possible to

capacity market. Demand shifting makes sense as you can do

balance wind power with energy efficiency. There will be more

something at a different time but permanent demand reduction is

coming on the system, we have 9GW currently and whether we

an interesting concept.

hit our targets or not, which seems highly improbable given that

You could achieve this by shutting down a factory but I don’t

we would have to triple of renewable energy capacity and that we

think anyone is suggesting getting paid for doing that. It has to be

have done the easiest stuff first. Leaving that aside, there will be

auditable, the same amount of widgets are being produced with

more renewables on the system and you will need capacity when

less electricity. The further out in time you go then this becomes

the wind doesn’t blow and the sun doesn’t shine. You may well

more difficult. What baseline do you use for some technology five

need a capacity payment to keep that ready and that will be your

years hence that you might have adopted anyway? You say you

core business keeping that ready. Whether it is ever be core

wouldn’t have done this in year x but the two years down the line,

business for a steel works not to produce steel is highly unlikely.

the technology that you expensively installed suddenly becomes

They’ll do it for a period of time when it fits in with plant

the norm and everybody does it anyway. LEDs for instance were

refurbishment and so on, but it will never be core.”

Energy in industry

It is also highly unlikely that you would build a power plant

“Over the next year and a half if we see sustained economic

purely for capacity so the back up would be older plant.

growth of the kind of growth rates we’ve got at the moment,

“Continuity of supply is so high that people will pay highly for it

demand will increase and the extent that it’s been offset by energy

where the grid needs to be balanced second by second,” says

efficiency measures, industrial restructuring and heavy industry

Nicholson, “it is difficult to plan what the return will be if there

leaving the UK such as the 400 jobs which were lost at Tata Steel

will two or three warm winters in a row, for instance. Efficiency

at Port Talbot and so on, we don’t know what the net balance of

and carbon is less of a worry for peaking plant as it not used for

that is going to be. What that does suggest is that we are unlikely

long periods. Stuff that started off as base load will become

to see very rapid growth in electricity consumption in the next

peaking plant in time. The newest plant will need to make a

couple of years, that is compared to seasonal norms, obviously if

return and be used as base load.”

we get a colder than average winter then demand will go up

Because of the short-term measures that National Grid is implementing and paying for, there may be some things that

commensurably.” Nicholson adds, “There are certain costs that are going to be

consumers can do on the demand side that would otherwise have

there anyway. The carbon price floor has not gone away and that

been difficult financially. “There is the potential for onsite

is going to escalate until 2016, the RO is going to carry on going

renewable generation for renewable heat, which is right up there

up in cost until then, by which point the EMR kicks in, you’ve got

with the green deal in terms of its success at the moment, but

a capacity mechanism which according to the recent impact

there maybe solutions for certain businesses there,” says

assessment will add £2 per bill for the domestic consumer and 1%

Nicholson, “if that support is there why not look at on site

on the bill for an energy intensive user up to 2020 and then 3% on

renewable generation? If you self-supply you are not incurring

the bill just for the capacity mechanism, some of us suspect that

green charges. Even if the economics are rather marginal you may

may be an underestimate. The point is that those cost increasing

be able to do gas-fired CHP taking into account green charges,

measures are still there and will carry on driving electricity bills

transmission and distribution charges and so offset the costs of

up whether they are offset by changes in wholesale prices is

running the kit.”

anyone’s guess, the fixed cost are unquestionably going up including transmission and distribution costs.”

Energy prices are remaining level Will prices continue to be benign or will they rise over the next

Uncertain times for sure but there are moves in the right direction from government. It just remains to be seen whether a

year? “It really depends on people’s appetite for risk and their

consistent and beneficial approach can be found that joins up the

ability to withstand a hit to their cash flow. If you sort of business

Treasury, BIS alongside the Department of Energy & Climate

that needs predictability of your costs and that it almost as

Change to prevent further damage to heavy industry.

important as the cost itself for some companies, then you might want to consider locking in even it there might be a substantial

Energy intensive industries employ around 200,000 people

premium which it looks like there may well be. You will get a

directly, support 800,000 jobs including their supply chains, and

cheaper price by taking the floating rate but then you are taking

make a £15bn pa contribution to UK

on some of the risk. However, there is the potential that their cash flow could be hit for six if gas and power prices go through the roof. “It is often tempting to think that things will carry on as they have been in recent months. Anyone who is on a flexible contract has been a direct beneficiary of the fall in wholesale prices. Markets are quite ruthless in ascribing a value to scarcity and it is entirely possible that we could see high peak prices appearing rapidly.

Jeremy Nicholson Energy Intensive Users Group Tel: +44 (0)20 7654 1536 Fax: +44 (0)20 7222 2782 Email: jnicholson@eef.org.uk Web: www.eiug.org.uk

gas-fired generation

natural gas plant development is at a 10 year low and Platts project tracker has highlighted electric power generation capacity and construction within Europe European

ess than 4 gigawatts (GW) of natural gas-fired power

Coal and Renewable Projects Move Forward at Varied Rates

plants are being built in West Europe, the lowest level in

The Platts Tracker shows 6.8GW of coal plant in construction,

more than 10 years, according to the Platts Power in

all in Germany and the Netherlands, while just 3GW sit in the

Europe Project Tracker, which shows electric power generation

‘approved’ category, again with no immediate prospect of advance.

capacity and construction in Europe.

Developers readily admit the capacity was planned when demand

“Since 2008, Europe has experienced strong subsidised growth

was growing and prices were higher.

in renewable energy, sustained periods of weak demand and low

Meanwhile, pumped-storage hydropower is going through a

wholesale power prices, all of which have deterred thermal plant

surge of development as pre-credit crunch plans come to fruition.

investment, particularly gas plant construction,” said Henry

Some 4.6GW are in construction, mainly in Switzerland and

Edwardes-Evans, associate editorial director of Power in Europe, a

Portugal. A long-term future is seen for this capacity as system

publication of Platts, a leading global energy, petrochemicals,

volatility grows, but for now commercial viability is some way off

metals and agriculture information provider.

as solar photovoltaics flatten midday peak power prices. Pumped-

In early 2012, 15GW of combined-cycle gas turbine (CCGT)* plants were in construction. Looking back to the “dash-for-gas” peak

storage hydropower needs high peak pricing as an economic driver.

of construction activity, in September 2006 the Platts Project Tracker

Turning to nuclear, there are 3.2GW in construction in West

recorded more than 23GW of CCGT plants in construction, having

Europe as two European Pressurized water Reactor (EPR) projects

noted 7.38GW commissioned in the first nine months of that year.

progress at glacial pace.

Today, some 35GW of fully approved CCGT capacity remain

Work began at TVO’s Olkiluoto 3 plant in Finland in

firmly shelved, with little or no discernible forward momentum.

September 2005, and it is now due online in 2018. EDF’s

Dozens of similar projects have been cancelled or suspended in

Flamanville 3 plant began construction in December 2007.

recent years, while a handful of operational plants are up for sale,

Limited capacity is scheduled to be available in winter 2016-

including Verbund-owned CCGTs in France and three Centrica-

2017.

owned plants in the UK. Others are being broken up, with equipment sold abroad. “There are only pockets of opportunity for thermal plant

A third EPR, at Hinkley Point in England, is reported to be close to European Union State Aid clearance. A mid-2015 construction start at Hinkley appears the best that developer EDF

development in West Europe,” noted Edwardes-Evans. “Upcoming

Energy can hope for. This would give the company eight years in

capacity auctions in the UK and Belgium are expected to be hotly

which to hit a 2023 completion date target—a stiff challenge given

contested, but in Germany, sector analysts see no need for thermal

the design’s track record.

plant additions for several years. In fact, there is a trend of

“For dynamic investment in fossil-fired plants, the focus swings

closures and mothballing of plants across Germany, the

east to Poland, where more than 5GW of coal and gas plants are

Netherlands, France and Austria.”

in construction,” said Edwardes-Evans. “There the government is

gas-fired generation

West Europe Generating Capacity in Construction or Permitted (As of September 2014)

Status

Type

Number

Approved

CCGT

35.6

Construction

CCGT

3.9

Approved

Coal

Construction

Coal

6.8

Approved

Offshore Wind

22.9

Construction

Offshore Wind

Approved

Nuclear

3.3

Construction

Nuclear

3.2

Approved

Pumped storage

4.7

Construction

Pumped storage

4.6

Source: Platts PowerVision, a web-based energy analytics tool concerned that an ageing fleet of coal power stations, demand

* A CCGT captures some of the heat in the combustion

growth and a relative lack of interconnection will expose the

process, making it more efficient and able to run more frequently

country to future shortages. However, an element of central

than a stand-alone, or simple cycle, gas turbine.

planning supported by state bank financing is required to get projects off the ground.” Turning to large-scale renewables, some 15 offshore wind farms are under construction for a total 4.3GW, the bulk in Germany (2.36GW) followed by the UK (1.4GW). Capacity additions are down 25% from last year and sector representatives fear that the contraction will continue into 2015 and 2016.

Platts is a leading global provider of energy, petrochemicals, metals and agriculture information and a premier source of benchmark prices for the physical and futures markets.

Map Section Intro 1pp_Layout 1 18/11/2014 22:48 Page 58

TECHNICAL INFORMATION

Technical maps and conversion table In the following pages you will find maps detailing UK Electricity Supply, and Europe & CIS Gas Supplies â&#x20AC;&#x201C; and an Energy Conversion Table. Energy Conversion Table . . . . . . . . . . . . . . . . . Page 59 UK Electricity Supply . . . . . . . . . . . . . . . . . . . . Pages 60-63

Europe & CIS Gas Supply . . . . . . . . . . . . . . . . Pages 64-67

Maps courtesy of: The Petroleum Economist Limited (www.petroleum-economist.com)

Conversion Table 1pp_Layout 1 18/11/2014 22:46 Page 1

Energy Conversion Table* 0.278

0.000004

0.0009

0.000341

0.00004

0.0095

26.4

0.09

0.0001047

0.025

0.01729

0.1729266

0.00059

0.000000684

0.00016

0.977

2.5766

25.7658

0.0879

0.0001022

0.0244

0.133

0.00087

0.0023

0.0229

0.00008

0.000000091

0.0000217

1.0579

158.1395

1.0336

2.7257

27.2572

0.09295

0.0001

0.0258

1.0698

0.00095

0.1423

0.0009

0.0025

0.02453

0.00008365

0.000000097

0.000023

MT Fuel Oil

239

0.001163

0.00341

2.64

0.0065

149.4871

0.00089

1,189

0.0009

l Fuel Oil

MT GasOil

0.0042

860

293

0.1

0.379

153

0.0067

1,124

0.0008

1,111

l GasOil

3.6

252,000

29.300

0.0379

57.828

1.0235

7.5163

0.9453

0.9348

bbl Crude Oil

1,055

25,200

11.11

5.7828

0.3881

1,150

0.0063

1,050

Sm3 Nat Gas

105.5

9,554

1,695.8

0.0388

436.08

0.9675

7.0261

therm

1,462,680

11.3813

43.608

0.3669

1,075

MMBtu

6,120

9,784.66

12,788

0.0367

407.64

kWh

1 mega joule (MJ)

40.94

10,994,000

10.7586

40.764

kcal

1 kilocalorie (kcal)

46,000

9,249.3

11,954

1 MMBtu (million British Thermal Unit)

38.7

10,277,000

1 barrel (bbl) Crude Oil 1 litre (l) Gas Oil

1 metric tonne (MT) Gas Oil 1 litre (l) Fuel Oil 4)

1 standard cubic meter (Sm3) Natural Gas 1)

1 kWh (kilowatt-hour)

1 th (therm)

43,000

calorific value: 40 MJ / Sm

1 metric tonne (MT) Fuel Oil 1)

calorific value: 45,000 MJ / MT

gravity: 0.9 MT / m

calorific value: 43,000 MJ / MT

gravity: 0.89 MT / m

calorific value: 46,000 MJ / MT

gravity: 0.9577 MT / m (1 bbl oil = 136 kg)

This data is to be used as a guide only - no responsibility will be taken for errors in decisions taken, based upon this data.

Maps 8pp_Editorial 18/11/2014 22:48 Page 60

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Qspevdfe!cz!uif!Qfuspmfvn!Fdpopnjtu!Mjnjufe The Penspen Group provides a comprehensive range of services through:

PENSPEN HEAD OFFICE 3 Water Lane Richmond upon Thames Surrey TW9 1TJ United Kingdom

Conceptual and Feasibility Studies Front End Engineering and Design, Detailed Design Engineering, Procurement and Construction Asset Management Services Operations and Maintenance Integrity

Tel: +44 (0)20 8334 2700 Fax: +44 (0)20 8334 2701 E-Mail: info@penspen.com

for production, transportation and storage facilities and pipelines in the oil and gas industry.

www.penspen.com

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