News Archive - eletricity

Brent Oil has dropped to an 18-year low

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Brent Crude Oil dropped to an 18-year low on 30th March, prompting a knock-on effect in the energy price market.

The commodity’s international benchmark fell by as much as 13% to a low of $21.65 a barrel. Meanwhile, the price of US West Texas Intermediate (WTI) fell below $20 a barrel and also closed to an 18-year low.

The global oil industry has faced a sharp drop in demand due to countries across the globe being on lockdown due to the coronavirus with prices falling by more than half in the past month.

Despite this, Saudi Arabia and Russia have agreed to flood the market with oil in April and a rise in the price of energy is expected on the back of this, certainly if you compare electricity prices and gas prices to those in March.

So, if you are looking to get a price for your gas or electricity (or both) while this window of opportunity within the market exists, then please get in touch with one of our sales team on 01225 867722 or email sales@energymanagementltd.com.

Smart Export Guarantee – What is it?

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Following the closure of the Feed in Tariff (FiT) to new applicants in March 2019, the need for payment for electricity exported to the grid by small-scale renewables was recognised. Thus, BEIS introduced the Smart Export Guarantee (SEG).

The Smart Export Guarantee is a mechanism designed to ensure people/businesses who generate renewable energy and export to the grid are paid fairly. It applies to any of the following renewable energy technologies;

  • Solar PV panels, onshore wind, anaerobic digestion, hydro – up to 5MW
  • Micro Combined heat and power – with an electrical capacity of up to 50kW

The Smart Export Guarantee will come into force from 1st January 2020. Anybody who already receives FiT on installations will be unaffected by SEG.

How much will you receive?

Nothing is set in stone, however, we predict that initial SEG tariffs to be straightforward, most likely offering a fixed pence per kWh export rate.

The only requirement for SEGs is that the tariff must always be greater than zero, effectively meaning it is up to energy suppliers to decide what to offer their customers. Tariffs will differ between suppliers and some may choose to offer multiple choices.

How can we help?

Energy Management has expert industry knowledge which allows us to guide you through the whole renewable energy installation process. We arrange and manage the installation of the infrastructure right the way through to the procurement of Power Purchase Agreements (PPAs) and SEGs.

For more information give a member of the team a call on 01225 867722, or alternatively email sales@energymanagementltd.com.