In the last month, at an international summit hosted by the International Energy Agency (IEA) and the UK Government, the UK reaffirmed its commitment to reaching net zero. Alongside this, the UK has also made other strides in renewable energy, such as Ofgem’s approval of essential reforms to the grid connection process and several milestones achieved in solar energy. 

Find out more about these updates, alongside other news in the energy market and low-carbon technologies sector, in this month’s Bryt Insight. 

At the start of April, the US Government announced increased tariffs on goods being imported into the US, before they were then delayed, which caused prices in the UK’s wholesale electricity market and the wider energy markets to fall significantly. The announcements led many who had bought energy in advance to sell their commodities, due to concerns about industrial production and demand slowing down.  

Whilst the tariffs could, in theory, cause an economic slowdown and electricity prices to fall, the delay in their implementation led to a slight increase in UK electricity prices in the middle of the month. Despite the delay, however, the effects of these tariffs have caused uncertainty in the markets, especially regarding prices for the Month-Ahead and Quarter-Ahead markets, as these are the periods that the tariffs will affect. The periods that look further ahead, such as the Winter 2025 and Summer 2026 periods, have seen decreases in prices, but not as significantly as the closer periods. 

The second half of April saw prices continue to fall due to these economic concerns, again with the near periods falling the most. 

In contrast, the blackout on the Iberian Peninsula didn’t have any impact on electricity prices outside of Spain, Portugal and France, despite receiving much speculation to the cause of the incident. 

Electricity demand fell at the start of April, due to longer daylight hours and warmer weather, alongside the return of nuclear reactors from maintenance. These factors led to a reduced need for the more expensive gas-fired generation that is often used to balance demand. With more supply than demand, prices decreased in the short-term markets, with only a temporary increase following low wind generation for a couple of days. Nevertheless, as renewable generation increased in the middle of the month, prices fell again. Only the lack of wind generation in Germany (which was down by 45% compared to last year), as well as the reduction of output from nuclear in France, stopped the prices from falling further.  

The second half of the month saw prices continue downwards, despite the fall in wind generation and the reduction in nuclear output in the UK, as demand continued to decrease. Even on days with low renewable generation, the prices didn’t spike significantly. 

As uncertainty remains about the US’s tariffs, wholesale electricity prices are likely to remain low. UK wholesale electricity prices are not likely to be as affected by the tariffs as Europe’s, due to the lower tariffs being levied on the UK compared to the EU (10% compared to 20%). Warmer weather, which has been predicted for May and June across Europe, may increase demand for cooling, which could impact short-term wholesale electricity prices. However, some of this demand will likely be met by increased solar generation. 

Renewable Energy Guarantees of Origin (REGO) certificate prices have continued their downwards trend this month, with the prices for all compliance periods falling again. As mentioned last month, the influx of new renewable generation on the grid, as well as a decrease in demand for these renewable supply products, has led to a decrease in REGOs prices. 

In a significant step towards streamlining the process of connecting new renewable energy projects to the grid, Ofgem has approved the National Energy System Operator’s (NESO) grid reform proposals. The current queue of projects waiting to be connected to the grid stands at 750GW which, if connected, would be four times what is needed to reach the UK’s 2030 renewable energy target, and twice what is required for the UK’s 2050 goals. 

Currently, renewable projects are connected on a ‘first come, first served’ basis, which has meant that unfinished projects have ended up blocking the queue. The reforms mean that this will change to ensure that projects that are ‘first ready’ are at the front of the connection queue instead. This will limit delays and will allow for a £40 billion annual investment opportunity in the renewable energy industry to be unlocked, due to increased certainty for investors. Speeding up the process of connecting these projects to Great Britain’s electricity grid will enable more renewable energy to be used in the grid mix, and will help decarbonise the grid on the UK’s journey to net zero. 

To find out more about the reforms, visit here¹. 

The UK Government have announced that they will commit £300 million for Great British Energy to invest in local supply chains for offshore wind energy projects². In the Prime Minister’s speech at the IEA International Summit on the Future of Energy Security³, he provided more confidence that the UK will continue accelerating its push for net zero. 

This investment forms part of the £8.3 billion that has been budgeted to Great British Energy, and will support offshore wind manufacturing in the UK, including floating offshore wind platforms and cables. This focus on the UK’s offshore wind sector will help reduce reliance on imports, increasing energy independence and security, and will increase jobs by 10,000 throughout the supply chain. New research has reported that the UK has indeed become less reliant on imports of energy over the last 10 years⁴, instead turning to an increasing amount of homegrown renewable energy like wind and solar. In 2014, 65% of the energy in UK electricity generation depended on foreign energy, while in 2024, this decreased to under 50%. 

In 2024, gas made up around 30% of the UK’s electricity supply. Reducing the UK’s reliance on gas imports could help the UK to be less impacted by other countries, so it’s positive to see the UK continuing this movement towards increasing energy security and independence. If you’d like to read about the Government’s investment, more details can be found here. 

A survey conducted across the world, with over 130,000 respondents, reports that a vast majority of people, 89%, support stronger action in tackling climate change⁵. However, the survey found that respondents believe their views represent a minority. 

The survey, for example, asked participants if they would be willing to contribute 1% of their monthly income to tackle climate change. Whilst the global average of those willing to contribute was 69%, participants also answered that they believed that only 43% of people would answer that way. This research highlights the need to close the gap between perception and reality, and to encourage conversation about the urgency of tackling climate change. 

In another survey, it has been found that business leaders also have an overwhelmingly positive attitude, specifically towards renewable energy⁶, with 97% of executives supporting the move away from fossil fuels and towards renewables in the electricity system. 75% of participants associate renewable energy with increased energy security, 77% with economic growth, and 75% believe that it is essential to the growth of jobs. Encouragingly, 87% who support the prioritisation of investment in renewable energy also want governments across the world to stop using coal-fired electricity within the next ten years. 

It’s positive to see that globally, both business executives and the general public are supportive of renewable energy and climate action – but it’s clear that more needs to be done to increase awareness of this support. 

Following on from our updates on milestones in solar energy in last month’s Bryt Insight, the solar energy sector has seen even more achievements in the past month.  

A new record was set in solar power generation on 1st April, with 12.2GW of electricity generated between 12:30 and 13:00⁷. Over the course of the day, solar PV generated a total of 87.6GWh of electricity. Although utility-scale solar PV power provided the majority of generation capacity, rooftop solar is expected to have been an essential contributor, with residential and commercial installations increasing each year. 

Alongside this impressive milestone, a study by Lancaster University has found that reaching the UK Government’s ambition of 90GW of installed solar capacity by 2050 would only take up a maximum of 0.39% of UK land, assuming the same proportions of rooftop and ground-based solar as currently deployed⁸. To achieve this goal with as minimal an amount of land as possible, a combination of ground-mounted, rooftop and floating solar would be needed. Findings like these addresses concerns about solar power and the space required in the UK’s countryside, and it’s encouraging to see how the UK’s national solar goals can be met with low impact to our environment. 

In other encouraging news, assuming that the UK manages to install up to 90GW of solar and 50GW of battery energy storage by 2035, it has been projected that these sectors could add £5.1 billion to the UK economy annually⁹. This is due to the direct employment and economic output from these growing sectors. £3.5 billion of this would come from solar, with battery energy storage contributing £1.6 billion. The Government is also highlighting the financial benefits of solar canopies, or ‘solar carports’, which could also help save motorists money through cheaper charging costs¹⁰. The Government are now launching a call for evidence to further investigate the potential of solar carports. 

These studies evidence the fact that increased solar energy would not only help the UK meet their climate commitments, but would also significantly benefit individuals and the UK economy. 

Global energy efficiency initiative EP100 creates significant business savings 

The Climate Group’s recent report has highlighted the financial savings of businesses that participated in the EP100 (Energy Productivity 100) in 2024, as a result of their energy efficiency measures¹¹. The EP100 initiative aims to bring financial and environmental benefits to organisations, with members signing up to achieve at least one out of three commitments: 

• achieving net zero carbon operations by 2030 

• doubling energy productivity within 25 years 

• implementing an energy management system within ten years  

The Climate Group has reported a collective $164 million in cost savings last year for EP100 members, which is an average of $2.21 million per member. Last year, member organisations achieved an 8% average annual improvement in energy productivity , compared to the global average of 1%. And in 2024, 80% of members were on track to reach their energy productivity goals ahead of their target year, with four businesses having already reached their EP100 commitment. 

The EP100 initiative has already saved 450 million metric tonnes of CO₂e through their members’ measures, and has enabled financial savings of $1.7 billion since its inception. To find out more about the EP100, visit here¹². 

Long Duration Electricity Storage (LDES) support scheme opens for applications 

Ofgem have launched a new scheme, allowing developers who are looking to deliver Long Duration Electricity Storage (LDES) projects between 2030 and 2033 to apply for financial support. The scheme is based on a cap-and-floor mechanism, which ensures a minimum revenue ‘floor’ for LDES operators, in order to regulate costs, with a revenue ‘cap’ that manages costs for consumers. This aims to increase investor confidence and encourage investment in LDES, which will be essential in helping to balance a grid that’s powered by renewables. 

Applications for the LDES support scheme close on 9th June 2025 and the first projects will be approved by Q2 of 2026. If you would like to find out more, visit here¹³. 

Consultation is launched on the principles and guidelines of using carbon credits 

The UK Government has launched a consultation to support businesses and organisations in following best practice when using carbon credits within their climate strategies. While the Government acknowledges concerns about the largely unregulated market, this consultation and guidance aims to position the UK as a leader in this space, channelling “green finance” to high-integrity carbon markets that will speed up the transition to net zero¹⁴. Their proposed guidance includes six ‘principles’ for businesses to follow in order to address concerns of greenwashing when using carbon credits, building trust and confidence in the use of credits and ensuring transparency: 

1. Use carbon credits in addition to ambitious action to reduce emissions, complementing rather than displacing investment 
2. Ensure use of high integrity credits, such as those that are independently verified and validated 
3. Disclose all credit usage 
4. Incorporate credit use into long-term sustainability strategies 
5. Make accurate claims about carbon credit usage 
6. Collaborate with other credit buyers and organisations in order to extend the carbon credit market and create more equitable market access 

The Department for Energy Security and Net Zero (DESNZ) is now asking for feedback on these principles and how they can be reflected in guidance and policy. The consultation is open from 17th April-10th July. If you’d like to have your say, visit here. 

The management of business travel emissions 

56% of people who oversee business travel policies for their organisation are currently measuring and planning to manage the environmental impact of their business travel, according to a recent survey with 1,000 participants¹⁵. 

While the remaining 44% are not currently taking these measures, 46% of those polled stated that environmental sustainability is a top three priority in their business travel policies. 

It’s encouraging to see that sustainability and the environmental impact of business travel is increasingly moving towards the forefront of businesses’ priorities. You can find out more about our own journey in managing our business travel emissions, and the low-carbon travel initiatives we offer, in our latest Bryt by Nature report, here. 

Greenlink interconnector connects electricity between the UK and Ireland 

Following the implementation of the 504MW Greenlink interconnector¹⁶, electricity is now flowing across the Irish Sea, between the UK and Ireland. This connects the networks of the UK’s National Grid and Ireland’s EirGrid. Positively, the connection is mostly free of sulphur hexafluoride (SF₆), due to the use of an alternative insulating and switching gas. As we discuss in our Bryt by Nature report, SF₆ is a gas with a global warming potential (GWP) 23,500 times greater than CO₂ and therefore one of the most potent greenhouse gases. Using an alternative gas therefore decreases the emissions associated with the interconnector significantly. 

It’s encouraging to see both nations collaborating to improve their energy security and resilience, helping both to reach their energy goals.  

Statkraft’s new Trading and Optimisation Services Agreement with Eku Energy 

Statkraft have signed an agreement with Eku Energy, global energy storage developer, where Statkraft will provide optimisation and trading services for a 40MW Loudwater Battery Energy Storage System (BESS). 

The Loudwater BESS will be commissioned by mid-2025 and is Eku Energy’s second battery asset to have been developed in the UK. Statkraft’s services will work to maximise the value and revenue of the storage flexibility, bringing Statkraft’s battery storage optimisation portfolio in Great Britain to approximately 2.7GW. 

This news is encouraging, as optimisation services are an essential part of supporting and balancing a grid that is powered by renewables, in the UK’s transition to a decarbonised grid. You can find out more about this development on Statkraft’s website, here¹⁷. 

If you have any questions about how these updates might affect you or would like to find out more, our team of experts are happy to provide further insight. You can contact them on 0330 053 8620 or at heretohelp@brytenergy.co.uk.