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UK bets on cap-and-trade [NGW Magazine]

UK bets on cap-and-trade [NGW Magazine]
Jan 6, 2021 7:15:am
Summary
The UK has set steeper near-term targets for CO2 emissions than the EU, but its national cap-and-trade scheme has to deliver cuts in line with its ambition. [NGW Magazine Volume 6, Issue 1]
by: Andreas Walstad
The UK in late 2020 set a CO2 emissions reduction target of 68% by 2030 compared with 1990 levels, which overshoots the recently agreed EU target of 55% CO2 reductions.
A well-functioning carbon market will be key to achieving emissions reductions, not at least in the power sector, to support the energy transition towards more renewables with gas as a supporting fuel at least in the medium term. A robust carbon price under the UK emissions trading scheme (ETS) should continue to favour gas over coal in power, as has been the case with the EU ETS and the UK carbon floor price. Government data released December 22 showed that gas-fired power generation incr ....

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UK power firm Drax to focus on biomass after selling gas assets

UK power firm Drax to focus on biomass after selling gas assets
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Drax sells four CCGT power stations to focus on renewables | Bioenergy Insight Magazine

Drax sells four CCGT power stations to focus on renewables | Bioenergy Insight Magazine
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'Flexible and renewable focus': Drax to sell four gas power stations in £193m deal

Flexible and renewable focus : Drax to sell four gas power stations in £193m deal
Cooling domes at Drax s inconic North Yorkshire power station | Drax
Sale of four combined cycle gas turbine sites acquired just two years ago will allow Drax to slash emissions and enhance its focus on flexible and renewable power generation, company says
Drax has agreed to sell four UK combined cycle gas turbine (CCGT) power stations in a deal worth £193.3m with a holding company owned by Dutch energy trader Vitol, as the UK energy giant looks to double.
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