Drax Group UK’s Post

DECARBONISATION

🎉 Today, the UK—the world’s 6th-largest economy—closes its LAST coal power plant, marking the end of an era in the birthplace of the Industrial Revolution. Just a decade ago, #FossilFuels dominated UK power. Now, wind generates enough electricity to power 92% of UK homes. In 2015, the UK became the first country to announce a coal phase-out. Since then, 22 European nations have followed. To meet our climate goals, ensure energy security, and tackle energy poverty, all European countries must commit to phasing out coal by 2030 and gas by 2035. The UK is the fifth European country to go #BeyondCoal. It’s feasible, it’s happening, and it’s powered by renewables and energy savings.

🏭 Did you know that the last coal power station in the UK is scheduled to close in just a few months? ⚡ As recently as 2012, the UK got 40 per cent of its electricity from coal. In 2015, renewables exceeded coal for the first time, and the British government announced its plan to phase out all remaining coal facilities. 📉 This is just one aspect of a remarkable energy transition that has seen the country's CO2 emissions drop by 47 % since 1990. The bulk of this reduction has happened since 2010. 🗳 As Brits hit the polling stations today, the Conservative Party is expected to lose badly after 14 years in power. There are indeed many good reasons to dislike the Tories and cheer on a new Labour government. 🎖 But it should be remembered that under the Conservatives, the UK has set an example for the world in climate leadership. Their actions and results remind us of what is possible. 🙏 I wish the UK a happy election day, a peaceful transition of power (no insignificant feat in itself), and the best of luck to the new government in keeping up the momentum!

At -40 on a dark cold windless winter night no one wants to freeze in the dark! If major emitters like Russia, India & China do not shift from coal, what difference will CDN's 1.6% make? Years ago energy analyst Vaclav Smil was asked what impact shutting down the oilsands would have on emission reduction. To which he replied the emission savings from this would be eclipsed by emission increases from China in 17 days! Worse still is what is the point of a made in China "Just Transition" to wind/solar/EVs/heatpumps that do not work at -40 on a cold dark windless night in Canada? The supreme irony though is that China has not only interfered with our elections in Canada but it has been able to bamboozle the west into supporting its near monopoly in wind/solar/EVs/heatpumps that are built with coal, children in Africa and Russian oil and gas. However in CDN we are so 'woke' we have been convinced by US based climate NGOs to keep our oil and gas resources in the ground, while the US our major partner/competitor in 2023 became the world's largest exporter of oil and gas in the world. And in direct contrast to the CDN PM's 'there is no business case for LNG in Canada" response to both Germany and Japan, the US has gone on to be the dominant supplier of LNG to Europe in 2024! Climate change is a global issue to be solved not a national political opportunity. CDN carbon taxes have no impact on global emissions, but the export of inexpensive cleaner than coal CDN energy in the form of SK uranium, ON CANDU & AB/BC LNG would help the world reduce its emissions. And finally as energy innovator Rodney Allam has demontrated to the world natural gas can be used as in NET Power to generate 0 emission electricity and through 8RH2 natural gas can be used to create 0 emission hydrogen/ammonia supporting Allam's philosophy that you should eliminate the emissions in the use of oil and gas, NOT the oil and gas industry itself!!!

For a bit of a longer historical time series than most finance articles I see, here’s a short piece from BBC News about how the UK is closing its last coal power station. The UK is regarded as the birthplace of the Industrial Revolution (and coal power) - and is the first major economy to give up coal for electricity generation. https://lnkd.in/egBcG9_4

The EU is eating through its gas storages at a very fast pace. Given constrained supply, prices are set to stay high through spring & summer months (refill season). Unlike in previous years, weather is not helping with high heating demand and little sun/wind for renewables.

The more I learn about hydrogen the more I agree it's like a "Swiss army knife" - it can do many things, but most of them poorly. For example, across Canada natural gas utilities continue to promote blending H into the gas system as a viable way to decarbonize. (e.g. see https://lnkd.in/gPhpA-xd) But yet another peer-reviewed study has concluded that this approach offers "only a small reduction in greenhouse gas emissions due to hydrogen's low volumetric energy density. Furthermore, a transition to pure hydrogen is not possible without significant retrofits and replacements. Even if technical and economic barriers are overcome, serious safety and environmental risks remain." https://lnkd.in/g8M7TK7n No doubt H has a role to play in achieving net zero, but we need a greater focus on where it can truly deliver bang-for-buck. h/t Michael Liebreich for his very useful ladder.

The real truth about gas: 🚫 There is no gas shortage – about 80% of Australia's gas is being sold overseas by big multinational companies, mostly royalty-free 🚫 It's not 'clean', it's methane – and it's contributing to rising temperatures and increasingly extreme disasters 🚫 The gas industry claims new gas is needed for the energy transition, but new Institute for Energy Economics and Financial Analysis (IEEFA) research contradicts this 🚫 Gas fracking leads to higher rates of asthma, birth defects, cancer, respiratory illness and heart attacks "When I was a child the gas industry was firing up, hiring expensive public relations firms to spread false hopes of a cleaner and cheaper fuel than dirty coal. The gas industry continues to spin these tales. The cold hard truth is that so-called “natural gas” is methane, the second-largest contributor to global heating." – Professor Lesley Hughes, Climate Council Read more in The Age: https://lnkd.in/gD2eR4jR #oilandgas #energytransition #auspol

A billion pounds of Constraint Payments - This UK energy scandal will keep growing until there is a "zonal energy" system in place. - see link https://lnkd.in/eaktajFK