Highlighted in a recent The Times article, in a somewhat counter intuitive move in the UK, ‘businesses will be paid to use more electricity for the first time next month, as National Grid launches a scheme designed to boost the flexibility of the nation’s power system.’

 

‘Under the terms of a trial contract, dubbed Demand Turn Up, companies will be offered cash payments to absorb excess electricity generation, mainly from wind or solar power, at times of low demand.’

 

In addition to this greater input of renewables in the UK sector, which improved from 0% in 1990 to reach 7% in 2011, and 9% in 2015, the price of natural gas has receded significantly. In a press release from Vayu energy they highlight the fact that gas prices have gone down by 45% since April 2015.

 

‘Irish wholesale gas prices have plummeted over the last 12 months with average prices so far in April down 45% compared with April 2015 and down 6% compared with last month, according to the latest Wholesale Energy Market Report published by Vayu Energy. The company, which supplies gas to 20% of Ireland’s industrial and commercial market, states that the collapse in prices is due to an abundant supply of gas in Europe, suppressed demand and a significant strengthening in the value of the euro over the last year.’

 

Solar energy is also making waves in theenergy sector, according to figures quoted in a Glenergy article solar could supply 20% of energy worldwide by 2027 on current technology trends according to Oxford University researchers based in the UK.  Solar Panels costs are falling to the point that the cost of the panels will soon exceed any previous forecasts.

 

We are currently witnessing the begining of an incredible shift in the European energy sectors. Renewables are making a greater impact, both gas and oil prices are fluctating; add in to this mix the emergence of domestic battery packs with the Tesla Powerwall and we really are in unchartered territories.

 

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