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On 6 July 2022, a day of significant political uncertainty, the Government published its long-awaited Energy Security Bill. Notwithstanding the current political turmoil, this is expected to survive to become the most wide-ranging legislative reform of the UK’s energy market for several years. The Energy Security Bill (Bill) was published and introduced to Parliament for … Read more
INTRODUCTION The Offshore Transmission Network Review (“OTNR“) was launched in July 2020 to ensure that transmission connections for offshore wind generation can be delivered to support the UK Government’s ambitions to increase offshore wind power to 40GW by 2030 and to deliver on its Net Zero ambitions. In April, Ofgem published two Minded-to Decisions as … Read more
The Queen’s Speech delivered on 10 May 2022 announced a new energy bill (the “Bill“), which expands on the UK Government’s Energy Security Strategy, announced in April 2022. The Bill aims to reduce the UK’s exposure to the volatility of global gas prices, focuses on developing an energy system based on renewable energy and low … Read more
The PFI Global Energy Report 2022 includes a case study on GENEX’s recent financial close on their stand-alone 50MW/100MWh lithium-ion Bouldercombe Battery Energy Storage System (BESS). This article was written by members of Energy Sector team, partners Elizabeth Charlesworth, Peter Davis, and Kristen Percy, with solicitor Antonia Xu. To access the PFI Global Energy Report … Read more
Australia has made significant strides in its offshore wind industry in recent weeks, with the regulatory regime expected to commence on 2 June 2022. Victoria has announced Australia’s first offshore wind energy targets, and the Commonwealth Government released the exposure draft of the Offshore Electricity Infrastructure Regulations 2022 for public comment. These are important steps … Read more
On 8 March 2022, in response to Russia’s threat to cut Europe’s gas supplies, the European Commission proposed an outline of the plan to reduce EU demand for Russian gas by two thirds before the end of the year and eliminate dependence on Russian gas well before 2030. By implementing the measures proposed by the … Read more
The Financial Conduct Authority (FCA) has published a Policy Statement (PS21/23) and final rules and guidance in relation to climate-related financial disclosures for standard listed companies. It has also updated its guidance on climate-related disclosures for premium and standard listed companies. 1. Rules for standard listed companies Under new Listing Rule 14.3.27R, standard listed companies … Read more
In this podcast, Paul Butcher, our Director of Public Policy, looks at: the unprecedented nature of the current situation for natural gas, coal and electricity the consequences we are seeing for industry and consumers what caused the crisis, including: the ‘series of unfortunate events’ the surprising consequences of the pandemic and new ways of working … Read more
On Saturday, 4 September 2021, Ofgem (the energy regulator in Great Britain) published its plans to further support the UK’s transition to electric vehicles (EVs) in the deployment of EVs and their integration into the electricity system. Ofgem aims to get the network ready for EVs and ensure there is sufficient network capacity for EV … Read more
