The Prime Minister is expected to report details of a new deal with the US which could see the UK receive billions of cubic meters of liquefied natural gas (LNG) as part of a major deal between the two countries.

Talks between the two parties are described as being in their “final stages” on the new “energy security partnership” and details will likely be released following the end of COP27.

It is understood the UK hopes to import 10 billion cubic meters (bcm) of LNG to improve it’s energy security following warnings from the National Grid over potential blackouts at peak times if there should be problems with European imports.

This follows President Biden’s commitment during the early stages of the invasion of Ukraine to help the UK/EU, which was something the market was initially skeptical about him delivering. However, the US has reportedly exported 12bcm during 2021, and this year thus far have shipped in excess of 50bcm to the UK/EU.

Alan Dodd CEO of GET Solutions said “a direct contract for a committed volume will add a great deal of resilience which is badly needed at the moment”.

Head of Procurement and Risk Strategies at GET Solutions Victor Levison also stated “whilst this is welcomed news and will have a positive impact, it isn’t going to solve the energy crisis alone. We urge the UK Government to take more action, including a campaign to help raise public awareness about how the cost of energy is determined as this will help bring down energy costs and inflation.”

Source: Energy Live News

#energynews

Due to rapid expansion within the GET Solutions Group, we have exciting opportunities for Key Client Account Managers to join our highly successful team! To find out more and apply, click here: https://www.getsolutions.co.uk/about-us/careers-at/

Please note; to allow our colleagues to mark the last day of national mourning and the state funeral of Her Majesty Queen Elizabeth II. Our office will be closed on Monday 19th September, re-opening as usual on Tuesday 20th September.

What to do with your business energy contract #UKENERGY

On Sunday 13th March 2022, James Coney, a journalist at The Times published an energy tariff test in which he very aptly describes the dilemma many are finding themselves in regarding their energy bills and knowing what steps to take next.

James said: “Question1. Geoff’s energy supplier says that the cost of using electricity and gas is about to go up.
He pays 20.68p for every kWh of electricity he uses and 4.169p for gas on a variable rate tariff. He also pays a daily standing charge of 24.112p for electricity and 26.123p for gas.

Next month he will start paying 28.455p per kWh of electricity and 7.479p for gas, and the standing charges will be 43.397p a day for electricity and 27.219p for gas.

How much has Geoff’s annual energy bill increased by to the nearest penny? (4 marks)”

In the following 2 questions James highlights a scenario that so many are accustomed to, and when they contact their supplier for a statement find themselves being offered a 1 year fixed rate (v11) tariff. However, when he tries to take the tariff, it is sold out but another more expensive offer (v12) is available but now it is a variable contract.

This example is from a real bill sent by an energy supplier, although this is most likely a domestic bill, the similarity is strikingly familiar as many businesses are currently wondering whether to stick or twist.

Due to the unprecedented situation in global energy markets today, energy suppliers are naturally cautious and do not want to give out anything that can be misconstrued as advice, but this doesn’t help consumers trying to make informed decisions.

Prices are rising, times are getting tougher and GET Solutions are here to help businesses understand their unique situation and provide honest information and guidance on how they can reduce their reliance on grid supplied energies and shield themselves from volatile energy markets.

There has never been a better time to protect your business and become independent of grid energy. To find out how to secure your energy prices, lower carbon emissions and gain energy independence, contact us on Tel. 024 76630 8830 or email @ sales@getsolutions.co.uk

Click here to read the post from James Coney @ The Times.

UK Gas & Power fundamentals currently look good #UKENERGY

While geopolitical uncertainty heaps pressure on already volatile energy markets, UK gas and power fundamentals are currently looking pretty good, as they have been since the start of the year. Storage holding for the UK is strong, we have plenty of LNG shipments and there is a good deal of renewable generation which along with mild temperatures is helping the UK energy market.

However, the UK market is vulnerable to geopolitical issues, and we have witnessed pre-invasion prices of gas jump from 160 – 200ppt to 224-321ppt and this is while Russian gas is flowing, if the flow of oil and gas stops, prices will increase putting more pressure on inflation which no-one wants. Additionally, if gas and oil prices soar, electricity is sure to follow as 44% of the UKs electricity is currently generated using gas.

The UK does not get gas directly from Russia and only imports about 6% of its oil from there. Kwasi Kwarteng, the UK business secretary has said “The situation we are facing is a price issue, not a security of supply issue”.  Most of UK gas is sourced from the North Sea and the bulk of imports come from Norway. “Put simply, we have lots of gas from highly diverse and secure sources, but it is very expensive,” Kwarteng said.

There has never been a better time to protect your business and become independent of grid energy. To find out how to secure your energy prices, lower carbon emissions and gain energy independence, contact us on Tel. 024 76630 8830 or email @ sales@getsolutions.co.uk

GET Solutions welcomes the EU Commissions move #CLIMATESOLUTION

GET Solutions Limited welcomes the EU Commission’s move to classify natural gas as sustainable following the College of Commissioners political agreement which will be formally adopted once translations are available in all EU languages.

In order to achieve climate neutrality by 2050 a great deal of private investment is needed to step up the transition by drawing on all possible solutions to help us reach our climate goals. The Commission considers there is a role for gas and nuclear activities in the transition as they will fulfil environmental safety requirements and the transition away from coal to renewables.

Alan Dodd CEO of GET Solutions said “this is fantastic news as it opens up more opportunities for combined heat and energy (CHP) solutions which provide two sources of energy from a single fuel. Not only is this a more cost-effective form of generation than traditional grid supplied power, but it is also far better for the environment.”

Valdis Dombrovskis, Executive Vice-President for an Economy that Works for People, said: “Our mission and obligation is climate neutrality. We need to act now if we are to meet our 2030 and 2050 targets. Today’s Delegated Act is about accompanying the EU economy in the energy transition, a just transition, as a bridge towards a green energy system based on renewable energy sources. It will accelerate the private investment we need, especially in this decade”.

Mairead McGuinness, Commissioner in charge of Financial Services, Financial Stability, and Capital Markets Union, said: “The EU is committed to achieving climate neutrality by 2050 and we need to use all the tools at our disposal to get there. Stepping up private investment in the transition is key to reaching our climate goals.

The Energy Revolution™ by GET Solutions UK Limited provides CHP solutions to lower dependencies on grid supplied energy either on a capital purchase basis or as a funded “own the solution, not the equipment” basis. The funding provides instant reduction and stability in energy costs and a significant decrease in carbon emissions without the risk associated with ownership.

Source: EU Commission

#energy

Analysts have warned that UK energy prices could continue to be volatile into the 2030s if the Government doesn’t provide greater resilience.

It has been forecasted that the cost of energy could jump between £95 per megawatt hour between summer and winter and the seasonal difference will increase to approximately £120 per megawatt hour by 2030.

Contributory factors which are expected to leave UK energy prices vulnerable to instability include:

• Increased weather risks
• Just in time energy procurement
• Overreliance on insecure energy imports
• Reduction in nuclear power
• Reduction in coal power

The current focus has been on wholesale prices for the short-term and energy price caps, but as we look forward to 2030, nuclear power stations start to retire, and with the additional closure of coal fired power stations across Europe, this reduction in generation will bring a new period volatility to the UK energy markets. To avoid boom and bust energy pricing, the UK needs a significant change to the way we procure, store, supply and consume energy.

Its not all doom and gloom

Whilst the situation could be grave, it is not all doom and gloom. On the contrary, organisations don’t have to accept these imposed price hikes and can take measures to mitigate the potential risk these volatile times bring. Furthermore, it doesn’t have to cost the organisation to achieve this.

Self-generation from sustainable technologies such as solar pv or combined heat and power will provide significant resilience and independence from the grid and when used in conjunction with battery storage will maximise efficiencies, getting the power you need, when you need it and at a predetermined cost that’s right for your enterprise for a decade or more.  

Such technologies or combinations of technologies are readily available and are being increasingly adopted as we get closer to our 2030 and 2050 climate neutrality targets. Businesses that have the capital and desire to invest in this energy revolution will realise the quickest and largest returns on their investment, whilst businesses with differing priorities can still benefit and significantly reduce costs and emissions without the need for capital outlay through our corporate PPA and funded solutions.

Source: Cornwall Insight

Worries regarding Winter Supply

We ended last week’s market update with the sense that there was volatility and bullishness to come across the Market; that proved to be entirely correct as Offers surged during the week in an extremely volatile couple of trading sessions.

Electricity Market

Worries regarding Winter Supply have been around since April/May however we are now staring down the barrel of Winter with temperatures set to drop considerably into next week; therefore this week’s Russian Gas Auction was of particular interest to markets. The monthly gas transmission capacity auction on Monday revealed no additional capacity bookings into Western Europe, a considerable blow to supply which resulted in a near 6% rise on December delivery offers.

Gas prices increased further and strongly throughout Tuesday with December delivery offers increasing by over 17%, supported by the German Energy Regulator (Bundesnetzagentur) to suspend the procedure to certify Nord Stream 2 AG as an independent transmission operator, which brings increased uncertainty over when the pipeline will begin commercial operations, with some now speculating that the pipeline may not be operational until March/April 2022 if approved by the EU Commission.

Gas Market

Since Wednesday the volatility has lessened with markets now looking for a clear direction of travel. Asian LNG Prices have seen some eye-watering increases this week, with a 25% increase, which could attract much needed European Cargos to re-route to Asia; that being said there are 10 deliveries into North West Europe scheduled in the coming days with a regas volume of 1065mcm.

Power prices tracked the bullishness of Gas Markets, with some significant increases across the curve, with the January 22 delivery posting an eye-watering increase of £27.25/mWh increase on Tuesday alone. So far this week the Winter Electricity Prices have been incredibly bullish with the following applying:

Dec 21: +48.30£/mWh (+181.63 since this time last year)

Jan 22: +46.24£/mWh (+201.21 since this time last year)

Feb 22: +57.36£/mWh (+190.65 since this time last year)

Carbon Markets

Additional pressure is being felt on Carbon Markets, where it is a case of another day – another all time high, as the wider energy complex pushes offers higher and higher. It could be argued that Dec 21 EUA’s are slightly overbought, however there does seem to be a growing sense that offers could climb over the €70/t threshold and even touch €75/t by the end of this year; which is staggering considering that at this point last year Dec 21 EUA’s were trading around €20-25/t.

Cold Blast Expected

With temperatures set to drop considerably next week we are likely to see markets head in a bullish direction, with keen eyes focusing on Russian and Norwegian spot flows with both being stable yesterday and today after what was a shaky start to the week especially on the Norwegian side, with supply still impacted by the unplanned outages at the Karsto gas processing plant and the Sleipner and Oseberg fields.

Oil Prices

Oil Prices have fallen, but remain high and there is a sense that this dip is only temporary, indeed the US and China have openly discussed utilising their vast Strategic Oil Reserves to cool markets; but there seems to be little support from other countries with Japan and South Korea declining the invitation from President Biden. As things stand, markets look to be heading in the upward direction in the short term with little or no help on the horizon.

#energy

Free unlimited power from the sun! #solar

Get Solutions UK Ltd has successfully installed 42 solar panels at Sundown Adventureland as part of The Energy Revolution™.

The solar panels will primarily charge the battery storage system within the energy centre to provide instant power and will compliment the G-GEN™ generation equipment.

Read more: https://www.theenergyrevolution.co.uk  

#solar