Our energy specialists look at what's happening in the energy market.

Blog- What's happening in the energy market 2024

Our energy specialists look at what's happening in the energy market in 2024.

9 April - A report from Friends of the Earth concludes that England could produce 13 times more renewable energy, using less than 3% of land. Research by Exeter University, commissioned by Friends of the Earth, suggests that onshore wind and solar projects could provide enough electricity to power all the households in England two and half times over.

5 April - UK-based company Space Solar plans to power more than a million homes by the 2030s with a mile-wide complex of mirrors and solar panels orbiting 22,000 miles above the planet.

31 March - Two government energy discount schemes, the Energy Price Guarantee (EPG) and the Energy Bills Discount Scheme (EBDS) ended on 31 March 2024.

25 March - The energy regulator Ofgem launches a consultation into varying the price of energy by the time of day. Ofgem are to consider introducing ‘dynamic’ pricing based on ‘time of use’ so as to encourage consumer flexibility.

12 March - The UK government says that the country needs to build new, gas-fired power stations to ensure the nation’s energy security. The Prime Minister said that the new stations would replace the existing plants, some of which are soon to be retired but said that the plans do not include measures for climate change limiting carbon capture.

23 February - The energy regulator Ofgem announces that the price cap will change to £1,690 from 1 April 2024 for the annual dual-fuel bill of the typical household.

22 February - The UK government confirms its withdrawal from the Energy Charter Treaty after efforts to agree vital modernisation fail.

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Published 21/01/2024
Edited 09/04/2024