Plans have been agreed for the UK’s first floating wind farm.

A 1.5GW floating offshore windfarm is being planned after a memorandum of understanding (MoU) has been signed by UK company Atlantis Resources and the French company Ideol.

It is hoped the project will be located next to the UK’s largest tidal stream project called MeyGen in the Pentland Firth in Scotland.

Tim Cornelius, CEO of Atlantis, commented: “To now be seeking to develop the UK’s largest floating offshore wind project alongside the development of the UK’s largest tidal stream project is truly exciting.”

The Company stated: Abundant offshore wind resources, governmental incentives and support frameworks combined with extensive oil and gas, maritime and fixed off shore wind experience will position the UK as one of the market leaders for floating projects.

Under the MoU, Atlantis Resources, will lead the review, selection and consenting of the UK sites and in attracting third party funding, while Ideol will design and provide the floating foundations.

Source: Atlantis Resources

With the holiday season well and truly over, attention now turns to the impending change at the top of US Politics.

On the 20th of January, Mr Donald Trump will be officially sworn in as 45th President of the United States marking the end of Mr Barack Obama’s leadership.

There were no strong moves on Financial Markets towards the end of 2016, however since the start of 2017 we have seen sustained increases on indices like FTSE 100 and Dow Jones, both reaching record peaks, thanks to recent employment reports and a falling Sterling. GET the full report here

2017 see’s upturn in oil prices

We ended 2016 with the announcement from OPEC of a production cut that would also involve some non OPEC countries, sending Oil Prices north after what had been a testing 2016 for the commodity.

2017 looks like it will see a return of a normal pricing structure for Oil, although it is unlikely that we will see a return to anything above $100/bl.

The fate of Oil prices throughout the year may be decided within the first two months of this year, it is vitally important that we see the Production Cut implemented as agreed and that all parties stick to this historic agreement. GET the full report here

Plunging temperatures raise gas prices

It is Gas Prices that will be under the microscope for the next few days, with a cold snap looming and reports of significant amounts of snow on the way, indications look like it will be 5 degrees colder than seasonal norms throughout Britain and Northern Europe. GET the full report here

Predicted decline in electricity costs

Despite rising Oil and Gas Prices, Electricity offers continue to edge their way down from the peaks of Early November. Prices were at such a high level that it was inevitable that prices would decrease. The issues in France with their Nuclear Reactors have eased, with availability being increased as the days go by. GET the full report here

In Summary:

It may be best to exercise a certain degree of patience when it comes to Gas and Electricity Offers over the next week, with temperatures set to drop we may see Day Ahead and Front Month offers increase steadily. GET the full report here