News, current affairs, opinion and thoughts
At Pöyry Energy Consulting we try to bring you up-to-date and relevant information about the markets within which we work. Sometimes this is comment, sometimes an in-depth discussion. By keeping you informed, we hope that you will see opportunities to talk to us.
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Consultation document published by joint Regulatory Authorities
26 August 2010: The Regulatory Authorities of the Republic of Ireland and Northern Ireland have undertaken a programme of work to develop a Strategic Demand Response Programme for the Island of Ireland in association with Pöyry Energy Consulting. Based on the work conducted by Pöyry, the joint regulatory authorities issued a public consultation document on 17 August 2010 which outlines the findings of the project so far and identifies a potential set of measures that could be adopted to remove existing barriers and help deliver the demand side vision for the All Island market in 2020.
This can be found at this link here.
Following a period of consultation with all stakeholders, including two stakeholder workshops Pöyry will be holding in Belfast and Dublin in mid-September 2010, Pöyry will assist the Irish Regulatory Authorities to review consultation responses and wider stakeholder feedback; and use these to formulate a final view of the most economically desirable 2020 demand side vision and associated policy actions necessary to help deliver this. It is currently expected that a decision paper will be issued by the joint regulatory authorities in December 2010.
GB Gas Security of Supply studies published by DECC from Pöyry
12 July 2010: Pöyry Energy Consulting is pleased to announce the publication of three studies commissioned by the Department of Energy and Climate Change (DECC) in support of the April 2010 Gas Security of Supply Policy Statement and referred to in today's answer to a Parliamentary Question.
The studies reviewed availability of gas supplies to meet consumers' demands up to 2030, including stress tests against extreme peak day and severe winter demands across North-West Europe, and supply shocks covering the loss or disruption of major supplies from Norway, Russia or LNG. The studies conclude that Britain's current and expected gas infrastructure is sufficient to meet all but the most extreme supply failures until the end of the next decade. They identify that the most effective policy contribution comes from delivering on the current renewable and energy efficiency targets. Furthermore, the policy option of investing directly in strategic gas storage does not appear to provide sufficient benefit to justify its costs.
In addition, Pöyry's work showed that, with realistic combinations of unusual demand, supply shocks and oil prices, the probability of there being insufficient gas to meet demand is very low. However, the outlook is not risk free and the studies show that under some extreme stress tests prices can be higher than normal.
To download a copy of our full press release, please click here.
To obtain copies of the studies, please follow the links below:
GB gas security of supply and options for improvement.
Global gas and LNG markets and GB's security of supply.
Security of gas supply: European scenarios, policy drivers and impact on GB.
A full press release from DECC can be found at their website here.
New ILEX Energy Report for the UK Renewable Electricity market from Pöyry Energy Consulting
30 June 2010: Pöyry is pleased to announce the release of the June 2010 edition of the ILEX Energy Report 'The Value of Renewable Electricity in the United Kingdom'.
Pöyry is the leading provider of energy price projections in Europe and this report includes our latest price projections for each element of value of renewable electricity available to UK generators:
Renewables Obligation Certificates (ROCs);
wholesale electricity prices;
Levy Exemption Certificates;
imbalance costs; and
embedded benefits.
As a complete guide to the UK renewables support system the report contains a fully updated description of the policy, regulatory and market environment. This includes the UK's Renewable Energy Strategy, ROC banding, network charging arrangements and contracting structures.
For further information on this report please click here.
Eurelectric conference sponsored by Pöyry
19 June 2010: Pöyry sponsored the EURELECTRIC Annual Convention held in Dublin on 14-15 June, and Stephen Woodhouse was one of the keynote speakers and panel members. The subject of the presentation was the growth in intermittent generation and its impact on the electricity systems of North-West Europe.
For a copy of the presentation, please click here.
Competitiveness of EU oil and oil products markets
18 June 2010: The European Commission has published Pöyry's report into the level of competitiveness in the oil and oil products market across the European Union. The study focused on the trends between wholesale and retail prices across countries to identify which Member States exhibited particularly high and low gross retail margins, and then undertook a deeper analysis into the characteristics of these markets. Pöyry found that while there some particular issues within certain Member States that may warrant further attention, there were no European wide issues of concern.
Copies of the Executive Summary are available here, whilst the full report can be downloaded from the European Commission website.
Pöyry awarded energy strategy project in the Kingdom of Saudi Arabia
10 June 2010: The following press release was announced today.
Pöyry to sponsor conference by Eurelectric
07 June 2010: Pöyry Energy Consulting is sponsoring the EURELECTRIC Annual Conference and Convention to be held in Dublin on 14-15 June.
Director Stephen Woodhouse, who has led our work on wind integration, intermittency and the impact of low carbon generation on the markets of Europe, will be talking on the subject 'Reaching the RES targets - what are the critical success factors?"
For more information on the event, please click here.
A new public study on the effect of wind generation on gas markets
02 June 2010: The future of British and Irish gas supplies has been unveiled following a detailed study by Pöyry looking at how wind generation will impact gas markets.
The study investigated whether gas demand would become more volatile, how the supply of gas to the GB market will shift substantially in the future, and the opportunities that are created by these changes.
The findings will help the Government and energy companies understand the steps that need to be taken to ensure the countries have the necessary systems in place to cope with the changes wind power is bringing.
To download the report, please click here.
New edition of GB Electricity Market Report
21 May 2010: Pöyry is pleased to announce the release of the April 2010 edition of the ILEX Energy Report 'Projections of the price of wholesale electricity in Great Britain'.
This report provides a comprehensive review of the market rules, key players and historic prices. Wholesale prices are projected until 2035 under three scenarios. The report is one of the leading sources of projections of wholesale electricity prices in the market and is used extensively by project developers and financial institutions to assess potential new power projects and plant acquisitions.
For further information, please click here.
Low carbon generation options for the All-island market
08 April 2010: We are pleased to announce the publication of a groundbreaking report to examine the attributes of different low carbon generation portfolios for the Electricity market on Island of Ireland.
To download a copy of the report, please click here.
New multi-client study just launched - Impact of wind generation on NW European electricity markets
19 March 2010: Pöyry is launching a new multi-client study to examine the impact of the expected rapid growth in electricity generation from variable renewable sources on the electricity markets of North-West Europe.
The combination of variable wind and other inflexible low carbon generation which are implied by the EU's proposed renewable targets for 2020 and beyond will create significant levels of uncertainty over market outcomes. Our previous studies, covering GB and Ireland, and Northern Europe, have shown that large volumes of renewable (especially wind) generation disrupt the status quo; typically, market prices become more volatile, leading to a risky operating environment to which inflexible low carbon generation is unsuited. In many markets, we have observed that load factors of thermal plant reduce sharply, and returns on investment may be concentrated in a smaller number of hours.
For further information and details on how to join the study, please click here.
New edition of Irish Electricity Market Report
18 March 2010: Pöyry is pleased to announce the release of the March 2010 edition of the ILEX Energy Report 'Republic of Ireland and Northern Ireland Electricity Market Report'.
The report provides a comprehensive description of the Single Electricity Market (SEM) covering both Republic of Ireland and Northern Ireland. The report has been updated to take into account all major developments in the market and gives an overview of the SEM in 2009.
Included in the report are Pöyry's wholesale electricity price projections under three main market scenarios, for the period 2010 to 2030, with a full description of the corresponding input assumptions.
For further information, please click here.
The implications of intermittency - Pöyry published in journal
10 March 2010: A recent article written by James Cox, and published in Modern Power Systems, discusses the need for gas and coal plants to flex in response to wind generation, and how this will radically transform electricity markets. It discusses a major new study by Pöyry, which was based on an unprecedented quantity of wind data and completely new GB electricity market models. The analysis also suggests that nuclear and wind can be partners, contradicting the popular belief that the future must be either nuclear or renewable - but not both.
A copy of the aricle can be downloaded here.
Stephen Woodhouse to speak at Supergrid conference
19 February 2010: Stephen Woodhouse, a Director at Pöyry Energy Consulting will be speaking at the 'Supergrid - The future of renewable energy integration' conference, which will be held in London on 10 and 11 March 2010. He will be discussing Pöyry's groundbreaking work examining the impacts of intermittency on European electricity markets. More information about the conference can be found here.
A copy of the presentation may also be found here.
Developing a demand side vision for Ireland in 2020
15 February 2010: Pöyry Energy Consulting will be assisting in a one day seminar and associated workshops on 'Developing a Demand Side Vision for Ireland in 2020'. The aim of the programme of work is to provide an open platform for all stakeholders to offer their expert views on how they believe Demand Response will and should develop on the island of Ireland.
To participate in this workshop, held on the 26th of February 2010 in Dundalk, or for further informaation, please click here.
Pöyry Energy Consulting presents at the Irish Renewable Energy Summit
22 January 2010: Pöyry Energy Consulting gave a presentation at the Irish Renewable Energy Summit on wind. The title of the presentation, 'Developing the market to accomodate high levels of wind energy', was given by Stephen Woodhouse, Director.
A copy of the presentation may be found here.
Ofgem publishes audit of St Fergus CCS capability by Pöyry Energy Consulting
20 January 2010: In 2009, Pöyry Energy Consulting carried out an audit on the network analysis models used by National Grid to provide data on St Fergus. In it, Pöyry confirms that the models used by National Grid are consistent and are constrained by the correct parameters. This independent study was created in response to requests from Ofgem, who has now published the report.
A copy of the report may be found here. Alternatively, a copy of the report, together with a press release, may also be found here.
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