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IEEFA Research

IEEFA update: U.K. pension funds lag in renewable energy infrastructure investing

Abundant offerings across a number of markets

LONDON — Local U.K. government pension schemes are gradually increasing their unlisted infrastructure holdings, driven by examples set by trail-blazing funds and by a new government initiative to increase the scale of such investments. But few are investing explicitly in renewable energy, the biggest single segment of infrastructure investment in the world (infrastructure investing involves real […]

July 19, 2018 Read More →

IEEFA Report: U.K. Pension Funds Can Benefit Now From Renewables Infrastructure Play

Growth and Proven Returns in a Rapidly-Expanding Sector

Nov.15, 2017 — A new report by HSBC Global Asset Management and the Institute for Energy Economics and Financial Analysis (IEEFA) finds that U.K. pension funds can benefit now from investing in domestic and overseas renewable energy infrastructure. Commissioned by the City of London Corporation’s Green Finance Initiative, the report, “The Renewable Energy Infrastructure Investment […]

November 14, 2017 Read More →
IEEFA Report: Endesa’s Plan to Upgrade Aging Spanish Coal Plants Puts €400 Million in Shareholder Wealth at Risk

IEEFA Report: Endesa’s Plan to Upgrade Aging Spanish Coal Plants Puts €400 Million in Shareholder Wealth at Risk

New Emissions Rules Loom Large Across EU; Gas-Fired Generation and Renewables Present Better Investment Opportunities; Major Utilities Are Out of Step With Markets

October 25, 2017 (IEEFA.org) — A research paper published today by the Institute for Energy Economics and Financial Analysis finds that plans by Enel Group’s Spanish-subsidiary Endesa to sink €400 million into upgrading three aging coal-fired plants is a likely loss-making proposition under new European Union emission-control rules. The report—“How European Utilities Can Capitalize on […]

October 26, 2017 Read More →
IEEFA Brief: U.K. Government at Risk in Over-Budget Nuclear Project That Stands Incomplete

IEEFA Brief: U.K. Government at Risk in Over-Budget Nuclear Project That Stands Incomplete

A Sensible ‘Plan B’ for Hinkley Point C Project in Somerset Would Avoid Extending Public Loan Guarantees

Oct. 16, 2017 (IEEFA.org) — A research brief published today by the Institute for Energy Economics and Financial Analysis cautions the U.K. government against investing further in an unfinished nuclear project on the Bristol Channel in southwest England. The brief — “A Half-Built, High-Priced Nuclear White Elephant: How Should the U.K. Proceed With This Troubled […]

October 16, 2017 Read More →
IEEFA Report: European Coal Sector Woes Deepen With New Air Quality Mandate; One-Third of Existing Capacity Must Retrofit or Close

IEEFA Report: European Coal Sector Woes Deepen With New Air Quality Mandate; One-Third of Existing Capacity Must Retrofit or Close

More Headwinds for Major Utilities; New Limits Affect 108 Plants; Implications for Investors, With Gas and Renewables Emerging as Preferred Power-Generation Fuels

May 8, 2017 (IEEFA.org) — More than 100 separate power plants—representing one-third of Europe’s large-scale coal-fired power plant capacity—face costly air quality upgrades or closure as a result of new European Union emissions limits, according to an analysis published today by the Institute for Energy Economics and Financial Analysis (IEEFA). “These regulations will further undermine and […]

IEEFA Report: A U.K. Electricity Transformation Under Way, But in Need of Better Direction

IEEFA Report: A U.K. Electricity Transformation Under Way, But in Need of Better Direction

Grid Proves Resilient in Face of 60% Drop in Coal Use in 2016; New Renewables and Interconnection Are the Future; Capacity Market Has Failed to Incentivize Modernization; More Targeted Auctions Would Help

The U.K.’s capacity market is the weak link in the country’s ongoing transition toward a resilient, low-carbon grid. That is one of the core findings in a  report—“Electricity-Grid Transition in the U.K.: As Coal-Fired Generation Recedes, Renewables and Reliable Generation Can Fill the Gap —we published today. The report finds that the U.K. grid is coping […]

March 9, 2017 Read More →
IEEFA Update: A Rush to Subsidies as Power Plants in Europe Face an Existential Threat

IEEFA Update: A Rush to Subsidies as Power Plants in Europe Face an Existential Threat

Paying Producers for Electricity They Might Never Generate

  So-called capacity markets are driving what appears to be a major new trend in energy policy across Europe: More public subsidies for electric utilities. Utilities may get—but not necessarily need or deserve—high-level government support for a variety of reasons, including for their role in equity markets, where they supply returns and dividends for pension […]

December 13, 2016 Read More →
IEEFA Europe: Can Coal Power Hang On?

IEEFA Europe: Can Coal Power Hang On?

Investors May Not Be Eager to Absorb More Losses Like Those Seen in Recent Dutch Build-Outs

Investment in new coal-fired power plants appears off the agenda in Western Europe. Witness the astonishing write-down of brand-new assets in the Netherlands, where European utility giants RWE, Uniper, and Engie have drastically reduced their valuations of plants barely a year old (read the report we published this morning, “The Dutch Coal Mistake,” which concludes […]

November 30, 2016 Read More →
IEEFA Report: Three Timely Takeaways on 2016 Global Energy Transformation

IEEFA Report: Three Timely Takeaways on 2016 Global Energy Transformation

An Acceleration to Renewables, Faster-Than-Expected Shifts Regionally and Nationally, Growing Risk for Investors Who Lag Behind

Three notable takeaways emerge from the rapid transformation of the global energy economy, as we detail in a new paper we published today as the landmark Paris Agreement officially goes into effect. The global transition to renewables is accelerating. Change is happening faster than expected. Those left behind in this transition face growing financial risk. […]

November 5, 2016 Read More →

More News and Commentary

Biggest Scottish offshore wind farm begins producing power

CNBC: Scotland’s biggest offshore wind farm has started to produce power. Following the installation of its first seven megawatt turbine, the £2.6 billion ($3.41 billion) Beatrice Offshore Wind Farm sent power to the National Grid for the first time towards the end of last week. Located around eight miles (13 kilometers) off the Caithness coast, […]

July 25, 2018 Read More →

Auctions expected to double U.K. offshore wind capacity

The Week: Britain’s offshore wind capacity is set to double over the next decade, driven by a government strategy forcing turbine operators to bid for financial support in auctions. Plummeting costs have made wind an increasingly affordable source of clean energy in recent years. By 2030, between a fifth and a third of the UK’s […]

July 24, 2018 Read More →

IEEFA update: U.K. pension funds lag in renewable energy infrastructure investing

Abundant offerings across a number of markets

LONDON — Local U.K. government pension schemes are gradually increasing their unlisted infrastructure holdings, driven by examples set by trail-blazing funds and by a new government initiative to increase the scale of such investments. But few are investing explicitly in renewable energy, the biggest single segment of infrastructure investment in the world (infrastructure investing involves real […]

July 19, 2018 Read More →

On the blogs: Former skeptics are now backing renewables

OilPrice.com: Who would have thought wind’s transformation from subsidy-supported to self-financing power source would happen so quickly—not this publication, that’s for sure. Apart from diehard environmentalists, most consumers have been opposed to renewables on the basis they cost significantly more, and turbines are an eyesore on the landscape. But in the span of less than […]

July 19, 2018 Read More →

U.K. to require companies to release energy use, CO2 data

Reuters: The British government will force large companies to report their energy use, carbon dioxide emissions and energy efficiency measures in their annual reports from April next year, it said on Wednesday. The government said it wants businesses and industry to improve energy efficiency by at least 20 percent by 2030. A previous company reporting […]

July 18, 2018 Read More →

U.K. public pension fund to stop investing in coal

Financial News London ($): The UK public pension fund Nest will cut out coal, uranium and cobalt from its new commodity investments, it said on Monday, as it recruited US-based CoreCommodity Management to manage its money. Nest, which planned a move into commodity assets six months ago, said that CoreCommodity has agreed to take on […]

July 17, 2018 Read More →

More renewable energy records set in Europe

Quartz: This week, two of the biggest economies in Europe set new records for clean energy. The U.K.’s electrical grid has not burned any coal for about 1,000 hours so far this year. Though it’s just a symbolic achievement, the pace at which the UK is reaching such figures shows the pace of the energy […]

July 16, 2018 Read More →

IEEFA Europe: France, Germany and the U.K. are not on the same nuclear page

Policy muddle as one big EU economy hits pause on reactor buildout, another moves toward shutdown, a third plans expansion

LONDON — Europe’s three leading economies are taking three radically different approaches to nuclear power, reflecting contrasting national public priorities in a transition from fossil fuels, and showing the scale of government intervention in energy policy. France, Germany and the U.K. are all global top-20 generators of nuclear power by market share. France is No. […]

July 11, 2018 Read More →

Church of England to divest from companies fighting Paris climate accord

Bloomberg: The Church of England took another step in prodding companies to adopt a green strategy, saying its 12 billion pounds ($16 billion) in funds will divest those that aren’t aligning themselves with the Paris Agreement on climate change. The church’s governing General Synod passed a motion proposed by Canon Giles Goddard of its environmental […]

July 10, 2018 Read More →

Continued price cuts to make U.K. renewables competitive with existing gas in 2020s

Renew Economy: It could be cheaper for the UK to build new wind and solar farms in the 2020s than to keep running some existing gas plants, according to the Committee on Climate Change (CCC). This surprising insight comes in new scenarios for the UK power sector up to 2030, published last week in the […]

July 9, 2018 Read More →