The wholesale prices fell due to the reduction in commercial and industrial demand because of the coronavirus pandemic. The ongoing price-war between Russia and Arabia further brought down oil prices. In the words of Matt Clemow, who is the CEO of Igloo Energy Covid-19 has had a significant impact.
As the lockdown measures to combat the Covid-19 become more stringent, people are spending virtually all their time indoors. Analysis from energy firms has revealed that the consumption of home energy has seen a 30% increase, especially around midday.
As of March 2020, 90% of the electricity in Scotland is generated through renewable sources. This is after a 14% increase from the year-on-year numbers. This is an impressive figure- but that is not all. Scotland also has a target to get to 100% within this year, and that may just happen.
Ylem Energy Ltd. recently announced the commencement of operations at its new energy generation plant. This energy plant from the UK’s leading company in the sector of flexible energy would be operating on their latest natural-gas fueled generation technologies.
Total, in partnership with Simple Blue Energy, has begun the development of its new floating offshore wind initiative. This would be situated in the Celtic Sea’s Welsh waters.
Intergen, the global power generation firm, has been hit with a £37.2 million fine. This comes after they were found guilty of manipulating the market in winter 2016. Intergen has been a part of the UK’s power system for over 20 years.