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The Potential Cost of Non-Compliance to Businesses theenergyst.com August / September 2016 Positive Chilling news: Share value: £85m – The potential cost 20 outlook: Can 50 Firms wasting 58 Data initiative of non-compliance to battery storage fill a up to 10% of UK power sees firms unlock looming capacity gap? by leaving air con on energy efficiency businesses p28 INSIDE THIS ISSUE 42 Energy inance Financial and non-inancial reporting. Why do only 6% of large EU companies provide any form of non-inancial disclosure yet it is viewed as good governance? 20 50 Battery HVAC storage Chilling news: Firms wasting Can battery storage ill a up to 10% of UK power looming capacity gap? by leaving air conditiioning on Experts weigh in when nobody’s there 24 44 Demand-side Combined heat response & power Can National Grid hit its 2020 Food for thought: Andigestion is target for balancing the grid one of the UK’s largest gas-to-grid via demand-side measures? anaerobic digestion facilities of its The system operator has set kind. The Energyst investigates ambitious goals, says industry 28 Esos update Alarm bells should be £85m – The potential ringing for those businesses cost of non-compliance that still need to comply to businesses with Esos theenergyst.com August / September 2016 Positive Chilling news: Share value: £85m – The potential cost 20 outlook: Can 50 Firms wasting 58 Data initiative of non-compliance to battery storage fill a up to 10% of UK power sees firms unlock businesses p28 06 looming capacity gap? by leaving air con on energy efficiency 15 News 58 Cover Government will decide “in early story autumn” whether to go ahead Energy ista helps to with its commitment to build management meter, bill a new nuclear power plant at UK’s largest irms share data to and manage Hinkley Point boost eiciency investment consumption News & comment 4 Gas & electricity 30 Renewable energy 54 Insight 10 Energy inance 40 The Energy Event 61 Policy & legislation 12 CHP 44 Water management 66 Demand-side response 20 HVAC 48 Q&A 74 To subscribe please visit: theenergyst.com/subscribe theenergyst.com August/September 2016 3 COMMENT Is there a Hinkley point? Is Hinkley Point C the future of low carbon electricity MWh strike price to incentivise the development of generation in Britain or a white elephant – a Hinckley C was based on the assumption that the technology hangover from the 20th century? The new price of non-nuclear fuel would double. Yet they are UK government seems to be having doubts. It states lower than in 2013 not rapidly rising. The National that it has concerns about security with the Chinese Audit Offi ce has said that the value of the strike price investment partners to EDF in the project. China in top-ups to the generator has gone from £6bn to General Nuclear Power would fund one third of the almost £30bn due to wholesale costs falling. In terms £18bn costs in exchange for permission to build of value for money it is becoming Hinkley pointless, another nuclear power station in Bradwell, Essex. and it is questionable whether this technology is the solution to the UK’s looming energy gap. The idea of bold engineering projects that produce low carbon electricity in abundance is attractive. Hinkley Utilitywise’s strategy and innovation director Jon Ferris C alongside projects such as the Severn Barrage, both has stated that “the UK could offset more than the of which have the potential to generate 7% of the expected output from Hinkley Point C by taking all the UK’s power needs, attempt to solve the problem of opportunities to save energy identifi ed due to Esos, low carbon electricity generation. However, attractive and at a much lower cost”. The Esos savings identifi ed though they are from a technological point of view, they are not the end of the whole story but if we just take should not be built. The reason is simply economics. these it would save nearly 30 TWh annually, or 10% of current UK electricity demand. Centralised large-scale engineering projects were So as ever energy effi ciency, intrepid examples of 19th and 20th century dreams. sometimes called the fi fth The future is localised and the reason for this is cost. fuel, makes a compelling case As prices fall for battery and renewable technology for serious consideration. along with smart grids able to adapt to demand variations, the need for expensive centralised generation If the government decides to with its transmission losses is unnecessary. go ahead it will be more to do with pleasing France and China Nuclear technology can be made to work and be politically than the economic relatively safe if operated effectively yet it cannot at reality of secure, affordable present compete fi nancially. The basis of the £92.50/ low carbon generation. The National Audit O ice has said that the value of the strike price in top-ups to the generator has gone from £6bn to almost £30bn due to wholesale costs falling Editor Contributing editor Tim McManan-Smith Brendan Coyne [email protected] [email protected] Energyst Media Ltd, PO BOX 420, Reigate, Surrey RH2 2DU t: 020 3714 4450 t: 020 3771 1267 m: 07818 574308 m: 07557 109724 Registered in England & Wales – 8667229 Registered at Stationers Hall – ISSN 0964 8321 Sales director Sales manager Printed by Warners (Midlands) plc Steve Swaine Harry Powell [email protected] [email protected] No part of this publication may be reproduced without the written permission of the publishers. The t: 020 3714 4451 opinions expressed in this publication are not necessarily those of the publishers. t: 020 3751 7863 The Energyst is a controlled circulation magazine available to selected professionals interested in m: 07818 574300 m: 07557 109476 energy, who fall within the publishers terms of control. For those outside of these terms, annual subscriptions is £60 including postage in the UK. For all subscriptions outside the UK the annual subscription is £120 including postage. Circulation enquiries Production [email protected] Paul Lindsell [email protected] Follow us for up-to-date news and information: m: 07790 434813 4 August/September 2016 theenergyst.com NEWS & COMMENT Government to ‘decide in autumn’ on new nuclear at Hinkley Point Business secretary Greg Clark market to ensure nuclear has said the government will could be supported without decide “in early autumn” breaching State Aid rules, has whether to go ahead with received a mixed reaction. its commitment to pay EDF However, Clark said the an index-linked £92.50/ government needed to MWh for 35 years to build “carefully consider all the a new nuclear power component parts” of the plant at Hinkley Point. deal. He also reiterated that The announcement follows nuclear was “an important Clark said the government EDF’s board narrowly voting part” of the UK’s energy mix. needed to “carefully to build the plant in late July. The deal struck by the consider all the component At the time, EDF’s shares government with EDF has parts” of the deal spiked 10% following Clark’s been variously described as announcement and better than necessary albeit expensive, anticipated first half results. to “an abomination that will risen from £6bn to almost ‘strike price’ of £92.50. Delaying the decision, blow up in the nation’s face”, £30bn, according to the Since then, wholesale following years of according to Peter Atherton, National Audit Office, due power prices have slumped. negotiations between the now at Cornwall Energy. to government’s guarantee Prime minister Theresa French state-owned firm Since the deal was to make up the difference May will travel to China next and the UK government, negotiated in 2013, the between the wholesale market month, a visit which may well while redesigning the energy cost to consumers has price and the guaranteed coincide with a decision. Investor ready energy efficiency for Liverpool NHS The Investor Confidence energy efficiency and low upgrades on behalf of the Engie began construction Project’s Investor Ready carbon measures. These NHS and the wider public in January. Energy Efficiency (IREE) include new gas-fired sector. The project investor The project’s Quality certification has been CHP energy centres and a is Macquarie Bank and an Assurance Provider is Verco awarded to a consortium range of energy efficiency energy performance contract Advisory Services. Working of three NHS trusts in measures such as new has been awarded to Engie closely with CEF, they Liverpool: Aintree University variable speed drives for (formerly known as Cofely), a have together applied the Hospital NHS Foundation motors, plant optimisation, leading contractor, specialising Standard Tertiary protocol. Trust; Liverpool Women’s and an extensive lighting in decentralised energy. This process was carried out NHS Foundation Trus; and retrofit programme. Engie will construct, retrospectively, following the The Walton Centre NHS The project developer is operate and maintain project’s financial close, and Foundation Trust. NHS initiative the Carbon and the measures, delivering CEF’s documentation for the The £13m project aims Energy Fund (CEF), which guaranteed savings of Liverpool project was found to to improve the energy and facilitates and manages the c14,500,000 kWh annually. be ICP compliant. carbon performance of the project. CEF is an investor This will result in annual A comprehensive three hospitals through the and project developer savings of c£1.85m, with an feasibility study, including installation of a number of of energy infrastructure average energy saving of building energy audits, 50% and an average carbon was carried out by NIFES, saving of 33% annually. working in conjunction with The project also includes CEF. Baselines and savings avoided costs of £650,000 calculations were developed annually through the for each NHS trust using CEF provision of a Short Term standard spreadsheet-based Operating Reserve and the calculation tool.
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