Video Interview: The future of energy with Gab Barbaro

future of energy

The energy sector is undergoing fundamental change and the market is currently experiencing massive innovation. British Gas is the headline sponsor of the brand new Energy Live Future event – taking place on 7 June.

Managing Director at British Gas Business, Gab Barbaro discusses the event:

He says: “There’s going to be a wide diversity of companies coming together. Tesla will be bringing along ideas around battery storage, and large corporates from the telecommunications industry and the networks will be joining us to bring new ideas together.”

Also watch business leaders discuss how they cut down on energy bills.

National Statistics: Energy Trends and Prices statistical release: 27 April 2017

Energy production and consumption statistics are provided in total and by fuel, and provide an analysis of the latest 3 months data compared to the same period a year earlier. Energy price statistics cover domestic price indices, prices of road fuels and petroleum products and comparisons of international road fuel prices.

Energy production and consumption

Highlights for the 3 month period December 2016 to February 2017, compared to the same period a year earlier include:

  • Primary energy consumption in the UK on a fuel input basis rose by 1.4%, but on a temperature adjusted basis consumption fell by 0.3%. (table ET 1.2)
  • Indigenous energy production fell by 1.4%, with reduced oil and renewables output. (table ET 1.1)
  • Electricity generation by Major Power Producers up 3.4%, with coal down 21% but offset by increase in gas up 30%.* (table ET 5.4)
  • Gas provided 44.2% of electricity generation by Major Power Producers, with nuclear at 20.8%, renewables at 20.6% and coal at 14.4%.* (table ET 5.4)
  • Low carbon share of electricity generation by Major Power Producers down 4.6 percentage points to 41.4%, due to reduced nuclear and renewables generation.* (table ET 5.4)

*Major Power Producers (MPPs) data published monthly, all generating companies data published quarterly.

Energy prices

Highlights for April 2017 compared to March 2017:

  • Petrol prices down 1.9 pence per litre on month whilst diesel prices down 2.0 pence per litre. (table QEP 4.1.1)

Contacts

Lead statistician Iain Macleay, Tel 0300 068 5048

Press enquiries, Tel 020 7215 6140 / 020 7215 8931

Data periods

Statistics on monthly production and consumption of coal, electricity, gas, oil and total energy include data for the UK for the period up to the end of February 2017.

Statistics on average temperatures, wind speeds, sun hours and rainfall include data for the UK for the period up to the end of March 2017.

Statistics on energy prices include retail price data for the UK for March 2017, and petrol & diesel data for April 2017, with EU comparative data for March 2017.

Next release

The next release of provisional monthly energy statistics will take place on 25 May 2017.

Data tables

To access the data tables associated with this release please click on the relevant subject link(s) below. For further information please use the contact details provided.

Please note that the links below will always direct you to the latest data tables. If you are interested in historical data tables please contact BEIS (kevin.harris@beis.gov.uk)

Subject and table number Energy production and consumption, and weather data
Total Energy Contact: Kevin Harris, Tel: 0300 068 5041
ET 1.1 Indigenous production of primary fuels
ET 1.2 Inland energy consumption: primary fuel input basis
Coal Contact: Coal statistics, Tel: 0300 068 5050
ET 2.5 Coal production and foreign trade
ET 2.6 Coal consumption and coal stocks
Oil Contact: Natalie Cartwright, Tel: 0300 068 5260
ET 3.10 Indigenous production, refinery receipts, imports and exports
ET 3.11 Stocks of petroleum
ET 3.12 Refinery throughput and output of petroleum products
ET 3.13 Deliveries of petroleum products for inland consumption
Gas Contact: Matthew Curds, Tel: 0300 068 8414
ET 4.2 Natural gas production and supply
ET 4.3 Natural gas imports and exports
ET 4.4 Natural gas imports
Electricity Contact: Electricity statistics, Tel: 0300 068 2928
ET 5.3 Fuel used in electricity generation by major producers
ET 5.4 Electricity production and availability from the public supply system
ET 5.5 Availability and consumption of electricity
Weather Contact: Susan Lomas, Tel: 0300 068 5047
ET 7.1 Average temperatures and deviations from the long term mean
ET 7.2 Average wind speed and deviations from the long term mean
ET 7.3 Average daily sun hours and deviations from the long term mean
ET 7.4 Average monthly rainfall and deviations from the long term mean
Subject and table number Energy prices data
Domestic energy price indices Contact: Susan Lomas, Tel: 0300 068 5047
QEP 2.1.3 Retail prices index: fuels components monthly figures
Monthly and annual prices of road fuels and petroleum product Contact: Susan Lomas, Tel: 0300 068 5047
QEP 4.1.1 Typical retail prices of petroleum products and a crude oil price index (monthly data)
International road fuel prices Contact: Reuben Pullan, Tel: 0300 068 5057
QEP 5.1.1 Premium unleaded petrol prices in the EU
QEP 5.2.1 Diesel prices in the EU

Gazprom’s financial information under International Financial Reporting Standards (IFRS) for the year ended December 31, 2016

Today PJSC Gazprom issued its audited consolidated financial statements prepared in accordance with International Financial Reporting Standards for the year ended December 31, 2016.

The table below presents the consolidated statement of comprehensive income prepared in accordance with IFRS for the years ended December 31, 2016 and December 31, 2015. All amounts are presented in millions of the Russian Rubles.

 

 

Year ended December 31,

2016

2015

 

 

 

Sales

6,111,051

6,073,318

Net gain from trading activity

3,382

3,704

Operating expenses

(5,244,983)

(4,635,502)

Charge for impairment and other provisions

(143,870)

(213,219)

Operating profit

725,580

1,228,301

 

 

 

Finance income

1,018,997

990,346

Finance expense

(543,370)

(1,409,087)

Share of net income of associates and joint ventures

82,872

106,560

Gain on disposal of available-for-sale financial assets

1,059

9,121

Profit before profit tax

1,285,138

925,241

 

 

 

Current profit tax expense

(218,113)

(102,223)

Deferred profit tax expense

(69,921)

(17,819)

Profit tax

(288,034)

(120,042)

 

997,104

805,199

Profit for the year

 

 

 

 

 

Other comprehensive income (loss):

 

 

Items that will not be reclassified to profit or loss:

 

 

Remeasurements of post-employment benefit obligations

33,118

(169,059)

Total items that will not be reclassified to profit or loss

33,118

(169,059)

 

 

 

Items that may be reclassified subsequently to profit or loss:

 

 

Gain arising from change in fair value of available-for-sale financial assets, net of tax

62,133

43,172

Share of other comprehensive (loss) income of associates and joint ventures

(6,397)

28,699

Translation differences

(297,703)

282,924

Gain (loss) from cash flow hedges, net of tax

49,196

(22,862)

Total items that may be reclassified subsequently to profit or loss

(192,771)

331,933

Other comprehensive (loss) income for the year, net of tax

(159,653)

162,874

Total comprehensive income for the year

837,451

968,073

 

 

 

Profit for the year attributable to:

 

 

Owners of PJSC Gazprom

951,637

787,056

Non-controlling interest

45,467

18,143

 

997,104

805,199

 

 

 

Total comprehensive income for the year attributable to:

 

 

Owners of PJSC Gazprom

806,903

938,591

Non-controlling interest

30,548

29,482

 

837,451

968,073

Total sales (net of excise tax, VAT and customs duties) increased by RUB 37,733 million, or 1 %, to RUB 6,111,051 million for the year ended December 31, 2016 compared to the same period of the prior year. The increase in sales was mainly driven by an increase in sales of crude oil and gas condensate.

More detailed information concerning the main items of the sales’ structure for the year ended December 31, 2016 and December 31, 2015 is presented in the table below.

(RUB million unless indicated otherwise)

 

Year ended December 31,

2016

2015

Sales of gas

 

 

Europe and Other countries

 

 

Net sales (net of excise tax and customs duties)

2,140,027

2,165,500

Volumes in bcm

228.3

184.4

Average price, RUB per mcm (including excise tax and customs duties)

11,763.3

15,057.3

Former Soviet Union countries

 

 

Net sales (net of customs duties)

309,644

429,660

Volumes in bcm

33.2

40.3

Average price, RUB per mcm (including customs duties)

10,263.1

11,911.0

Russian Federation

 

 

Net sales (net of VAT)

819,924

805,615

Volumes in bcm

214.9

221.2

Average price, RUB per mcm (net of VAT)

3,815.5

3,641.3

Total sales of gas

 

 

Retroactive gas price adjustments

33,175

26,482

Net sales (net of excise tax, VAT and customs duties)

3,302,770

3,427,257

Volumes in bcm

476.4

445.9

 

 

 

Net sales of refined products (net of excise tax, VAT and customs duties)

1,497,562

1,555,591

Electric and heat energy net sales (net of VAT)

481,716

424,665

Net sales of crude oil and gas condensate (net of VAT and customs duties)

411,958

260,608

Gas transportation net sales (net of VAT)

198,971

193,965

Other revenues (net of VAT)

218,074

211,232

Total sales (net of excise tax, VAT and customs duties)

6,111,051

6,073,318

Net sales of gas decreased by RUB 124,487 million, or 4 %, to RUB 3,302,770 million for the year ended December 31, 2016 compared to the same period of the prior year.

Net sales of gas to Europe and Other countries decreased by RUB 25,473 million, or 1 %, to RUB 2,140,027 million for the year ended December 31, 2016 compared to the same period of the prior year. This was mainly driven by the decrease in average Russian Ruble prices (including excise tax and customs duties) by 22 %, which was partially compensated by the increase in volumes of gas sold by 24 %, or 43.9 bcm.

Net sales of gas to Former Soviet Union countries decreased by RUB 120,016 million, or 28 %, to RUB 309,644 million for the year ended December 31, 2016 compared to the same period of the prior year. The change was due to the decrease in volumes of gas sold by 18 %, or 7.1 bcm, and the decrease in average Russian Ruble prices (including customs duties) by 14 %.

Net sales of gas in the Russian Federation increased by RUB 14,309 million, or 2 %, to RUB 819,924 million for the year ended December 31, 2016 compared to the same period of the prior year. This is primarily explained by the increase in average prices by 5 % that was partially compensated by the decrease in volumes of gas sold by 3 %, or 6.3 bcm.

Net sales of crude oil and gas condensate increased by RUB 151,350 million, or 58 %, to RUB 411,958 million for the year ended December 31, 2016 compared to the same period of the prior year. This is explained by the increase in volumes of crude oil sold and the increase in average prices of Gazprom Neft Group for customers in Europe and Other countries.

Operating expenses increased by RUB 609,481 million, or 13 %, to RUB 5,244,983 million for the year ended December 31, 2016 compared to the same period of the prior year.

The increase in operating expenses is explained by an increase in a number of items such as:

“Purchased gas and oil” – the increase by RUB 109,113 million, or 10 % due to an increase in expenses for gas as a result of the change in the scope of consolidation related to the completion of the Swap Agreement between PJSC Gazprom and Wintershall Holding GmbH on 30 September 2015;

“Taxes other than on income” – the increase by RUB 95,265, or 12 %;

“Transit of gas, oil and refined products” – the increase by RUB 75,772, or 14 %.

In addition, the line “Foreign exchange rate differences on operating items” amounted to a net loss of RUB 52,880 million for the year ended December 31, 2016 compared to a net gain of RUB 25,581 million for year ended December 31, 2015 due to changes in exchange rates.

“Net finance income (expense)” include the net exchange gain of RUB 453,689 million for the year ended December 31, 2016 and the net exchange loss of RUB 464,049 million for the year ended December 31, 2015. For the reporting period the depreciation of US Dollar against the Russian Ruble resulted 17 %, the depreciation of Euro against the Russian Ruble resulted 20 % compared to the appreciation of US Dollar and Euro against the Russian Ruble by 30 % and 17 %, respectively, for the prior year.

Profit attributable to the owners of PJSC Gazprom for the year ended December 31, 2016 totaled RUB 951,637 million which is RUB 164,581 million, or 21 %, more than for the same period of the prior year.

Net debt balance (defined as the sum of short-term borrowings, current portion of long-term borrowings, short-term promissory notes payable, long-term borrowings, long-term promissory notes payable, net of cash and cash equivalents and balances of cash and cash equivalents restricted as to withdrawal under the terms of certain borrowings and other contractual obligations) decreased by RUB 150,225 million, or 7 %, from RUB 2,083,120 million as of December 31, 2015 to RUB 1,932,895 million as of December 31, 2016. This decrease was resulted from a decrease in borrowings denominated in Ruble terms due to the depreciation of US Dollar and Euro, that was partlially compensated by a decrease in cash and cash equivalents as of December 31, 2016.

More detailed information on the IFRS consolidated interim condensed financial information for the year ended December 31, 2016 can be found here.



Collection: Business impact target: annual reports

The business impact taget (BIT) concerns the economic impact of regulation on businesses.

Each year we publish a progress report including:

  • information on regulatory provisions that have come into force or ceased to be in force during the parliamentary year
  • an assessment of the economic impact on business of the regulatory provisions

The report is a statutory obligation of the Small Business, Enterprise and Employment Act (SBEE) 2015.

Corporate report: Business impact target (BIT): annual report 2016 to 2017

This is the second annual report against the business impact target (BIT), a deregulation target, for 2016 to 2017. It includes information on regulatory provisions that have come into force or ceased to be in force during the parliamentary year.

The report is a statutory obligation of the Small Business, Enterprise and Employment Act (SBEE) 2015.

Britain achieves first ever coal-free day ‘since Industrial Revolution’

226. coal-free day

Energy sources such as gas, wind, solar and nuclear allowed Britain to keep things switched on for 24 hours without the use of coal-fired power plants.

Last Friday (21 April 2017) saw Britain’s energy demand be met without the use of coal power for the first time since the industrial revolution, according to National Grid.

Prior to this, the UK’s longest period without coal power had been 19 hours – achieved both on a weekday and weekend in May 2016.

A spokesman for National Grid said the record period was a demonstration of things to come, with coal-free days becoming more common.

Inrecent years, coal has significantly decreased, accounting for only 9% of electricity generation in 2016, down from 23% in 2015, as coal power plants have closed or shifted to burning biomass such as wood pellets.

Britain was the first country to make use of coal for electricity when Thomas Edison opened the Holborn Viaduct power station in London in 1882.

Now, as part of a government plan, Britain’s last coal power station will be forced to close in 2025, to meet its climate change commitments.

“The first day without coal in Britain since the Industrial Revolution marks a watershed in the energy transition. A decade ago, a day without coal would have been unimaginable, and in 10 years’ time our energy system will have radically transformed again”, says Hannah Martin, head of energy at Greenpeace UK.

She added: “The direction of travel is that both in the UK and globally we are already moving towards a low carbon economy. It is a clear message to any new government that they should prioritise making the UK a world leader in clean, green, technology.”

Head of climate and energy at WWF, Gareth Redmond-King, described Britain’s first coal-free day as “a significant milestone in our march towards the green economic revolution”.

“Getting rid of coal from our energy mix is exciting and hugely important. But it’s not enough to achieve our international commitments to tackle climate change – we haven’t made anything like the same progress on decarbonising buildings and transport. Whoever forms the next government after the general election, they must prioritise a plan for reducing emissions from all sectors.” He added.

Hydroelectricity: What the future of hydropower holds

 

Sources:

https://www.theguardian.com/environment/2017/apr/21/britain-set-for-first-coal-free-day-since-the-industrial-revolution

http://www.telegraph.co.uk/news/2017/04/21/britain-set-historic-first-coal-free-day-since-industrial-revolution/

http://www.cleanenergynews.co.uk/news/solar/gb-energy-supply-enjoys-coal-free-day-for-first-time-since-the-industrial-r

Notice: IPCC call for UK Experts: IPCC Special Report on Climate Change and Land

The Intergovernmental Panel on Climate Change (IPCC) is producing a Special Report on climate change, desertification, land degradation, sustainable land management, food security and greenhouse gas fluxes in terrestrial ecosystems. The UK Focal Point, based in the Department for Business, Energy and Industrial Strategy (BEIS), invites expressions of interest from UK experts to participate in the production of this Special Report.

View the outline of the Special Report approved by the Panel at its 45th Session, which includes a timeline.

A detailed description of the IPCC writing and review process is contained in the Procedures for the Preparation, Review, Acceptance, Adoption, Approval and Publication of IPCC Reports available on the IPCC website. The tasks and responsibilities for Coordinating Lead Authors, Lead Authors, and Review Editors are specified in Annex 1 to these procedures. The first Author Meeting is currently scheduled to be held in October 2017.

Further information is available on the IPCC website.

To apply

The IPCC requires that the nominees have appropriate expertise. The IPCC website has a list of relevant expertise which was produced for the scoping meeting. All nominations should include the Working Group(s), chapter(s), and author role(s) for which the candidate is being nominated; a specification of the nominees’ key area of expertise.

To be considered for nomination, please complete the nominations form below and send it to beisipccauthorsupport@beis.gov.uk by midnight on Thursday 11th May 2017.

Next steps

The UK Focal Point will submit nominations meeting expertise criteria and minimum application standards as described by the IPCC.

The Coordinating Lead Authors, Lead Authors and Review Editors will be selected by the Working Group I, II and III Bureaux. The composition of the group of Coordinating Lead Authors and Lead Authors for each chapter shall aim to reflect: the range of scientific, technical and socio-economic views and expertise; geographic representation (ensuring appropriate representation of experts from developing and developed countries and countries with economies in transition); a mixture of experts with and without previous experience in IPCC; and gender balance.

The Coordinating Lead Authors and Lead Authors will be requested to attend four Lead Author meetings between 2017 and 2019 and possibly other chapter drafting meetings. In order to reduce the amount of travel, most chapter drafting meetings will be conducted through web conferences. The presence of the Coordinating Lead Authors and selected Lead Authors may be requested at Sessions of the IPCC and its Working Groups during 2019 to assist in finalizing the Summary for Policymakers. The time commitment of Review Editors is less than for Lead Authors but will include attendance at two Lead Authors meetings. Further information about the schedule can be found in the IPCC’s Strategic Planning Schedule.

BEIS is unable to guarantee travel & subsistence support for attendance at relevant meetings. A level of assistance may be considered, once other reasonable potential sources of support, such as the applicant’s employer, have been exhausted. Applicants may seek such support from the team of the UK IPCC Focal Point by contacting beisipccauthorsupport@beis.gov.uk for further information on the process. Applications will be considered on a case-by-case basis only after formal invitation from the IPCC has been received.