Hey Google, define "short-term". Asking for a friend.
09.03.2026 11:55
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Hey Google, define "short-term". Asking for a friend.
Oil hit over $100/bbl for the first time since 2022 overnight as concerns escalated that shipments through the Straits of Hormuz are not going to return to normal anytime soon.
This will feed through to the cost of gas, electricity, petrol and diesel here in the UK.
China's push toward electrification has reduced its oil exposure, meaning its 1.4 billion-barrel reserves provide 120 days of import cushion. Its dominance of clean energy supply chains also gives it growing leverage as hydrocarbon reliability erodes.
View seems to be that a number of data centre applications are not genuine or realistic, and so could be forced out by capping demand.
There are better ways to achieve this than the energy sector administratively taking a view on 'realistic tech' demands.
At UW Future Networks conference. NESO say they're looking at whether to review what demand we need and ask if there's a case to limit it.
This is new and - I think - unwelcome. The system should be built to deliver what society needs - not the other way around.
US judiciary has removed guidance on climate change from the scientific handbook judges refer to when deciding on cases, after a legal challenge from pressure groups.
Societies that ignore science don't tend to do that well.
IEA sees ongoing oversupply of oil in the coming year or so. Temporary price increases occurring from geopolitical instability may simply be shorting opportunities toward the more sustained position of lower prices.
This also has implications for clean energy.
Government confirms results of AR7 auction - 14.7GW of new renewable capacity secured.
- 8.4GW offshore wind
- 4.9GW solar
- 1.3GW onshore wind
- 0.3GW tidal
In the US, drillers added oil and gas rigs for the third consecutive week despite falling prices. Indicates that operators remain cautiously active despite WTI crude trading near $63/barrel. Question is whether this continues below $65/barrel. buff.ly/rUBc3Gk
No-one wants to forcibly install a prepayment meters.
But if we want suppliers to own the debt we have to give them tools to manage it.
Customer debt is already at nearly £5bn - and rising.
Ineos cite carbon taxes as the primary driver behind £430m loss
Florida set to build wireless EV road charging infrastructure, where cars charge whilst on the move.
Expect this tech to take time and start small - but ultimately grow and scale.
Underlying profitability at Octopus Energy fell 69% in the year to April 2025 as costs increase
It is hard to continue delivering 1%/yr efficiency gains when your fixed cost base remains largely... fixed.
That said, digitalisation and AI present opportunities.
It does require Ofgem to fund programmes in that space, however.
It's worth adding that the real scandal is that people have been left living on networks that have had chronic under-investment by freeholders for years, decades even.
Modernising these systems is critical.
New heat network standards will be a big story next year, leaseholders likely footing the bill.
"Complying with these technical standards is going to be extremely expensive ... there are going to require a lot to be ripped out and completely replaced" buff.ly/IUfEMQV
The reports in Utility Week about the Energy Secretary positioning himself for as the 'next Chancellor' are notable for the number of supportive quotes by "allies" or "supporters" of Ed Miliband.
buff.ly/tOtcfYT
Govt have written to suppliers to say they expect customers on fixed term deals will also benefit from RO / ECO changes in April next year.
Link: buff.ly/xI14n2o
Murray Auchincloss is out as BP CEO, Meg O’Neill is in. Reuters article with reaction from investors here 👇
buff.ly/6ozkk3y
The Matched team have updated their clean power index to include nuclear.
This means BG are now above Octopus for clean energy on this basis.
buff.ly/NUzmX1y
I don't know if Ben is on this platform, but give him some kudos and a follow here in LinkedIn: buff.ly/xRRaA6k
This new grid data tool from Ben Watts is super-cool. Gas and elec prices, constraint costs, supply mix plus more. All real-time. Very good. 👇 buff.ly/aHinDNR
Shell's Head of M&A left his post earlier this year after failing to convince the CEO and CFO to buy BP, reports the FT - as per article below 👇
The INEOS ethylene plant at Grangemouth has been saved from closure after a government support deal was struck (£)
I think it's correct to argue that data centre demand growth will create more of a need for gas power generation in the short term.
I also think it's correct to point to the barriers in building new gas power generation. It's neither quick nor cheap.
Energy suppliers called on to pass through the full reduction in energy policy costs to those on fixed term deals.
Also begs the question: how do we prioritise between different demand-side connection requests?
Do we prioritise AI, industry or some specific commercial sector? Who decides who gets a yes and who gets told to wait?
On demand-side connections, Ofgem received 80GW of connection requests in six months. Unprecedented.
Connections queue paused for new connections. Question of what happens when unpaused.
Tension between network capacity, build-out and support for growth.
At the opening of the Utility Week Forum and hear the first keynote speaker Lawrence Gosden of Southern Water has been delayed on stage because of a citizens arrest in the lobby downstairs 😮
