Energy prices & policy

The government is granting a three-month extension to filing deadlines for any business impacted by the Covid-19 (coronavirus) crisis.

The government’s new Streamlined Energy and Carbon Reporting (SECR) obligation is now live, so eligible businesses need to start preparing to comply. To help you make sense of what is required – and how you can use SECR to your advantage – Phil Griffiths shares useful insights and provides clarity on some potentially confusing elements.

As you are no doubt well aware by now, the way in which key non-commodity charges are calculated is undergoing a huge shake-up, as a result of a two major reviews introduced by Ofgem.

New ways of calculating the main energy transmission and distribution charges will start to impact electricity prices from April 2021 – and for most business consumers, this will mean higher costs.

While the Chancellor promised “considerable steps” to incentivise cleaner forms of transport, fuel duty will remain frozen for another year – and there are plans to invest £27bn in new roads.

Rescheduled on the back of the well-documented suspension of the Capacity Market back in 2018, this latest auction provides the UK with >45GW reserve capacity which can be called upon in the event of system stress.