Energy UK identifies key industry priorities following Brexit trigger
The trade association for Britain’s energy industry, Energy UK, has identified some key industry priorities following the triggering of Article 50:
- Minimise domestic policy uncertainty in order to encourage continued investment.
- Facilitate efficient trading or power and gas over the interconnectors to enhance security of supply, promote competition, and reduce costs by sharing available resources and capacity.
- Ensure access to supply chain products free of tariffs and non-tariff barriers.
- Maintain liquidity in both electricity and gas markets.
- Ensure access to a skilled and mobile labour force.
Lawrence Slade, Chief Executive of Energy UK, added the following expert comment:
“As the Prime Minister… triggers Article 50 and begins the legal process for the UK to leave the EU, we look forward to working in partnership with the Government to help deliver a positive outcome for the UK energy sector and UK consumers.
“Trade with Europe has given the UK access to competitive and diverse sources of energy and thus contributes to our security of supply. It is therefore essential we continue to have a relationship with the European Union that allows the efficient flow of electricity and gas across borders, and benefits UK energy customers.
“A positive outcome to the Brexit negotiations, supported by a long-term, stable framework delivered through the Industrial Strategy, could significantly help the UK to meet climate change targets, but also to deliver a bold and ambitious plan for energy – with more jobs, investment, and environmental benefits, as we transition to a digital, decarbonised future.”
Read the April 2017 edition of Energy Digital magazine
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.