Energy data: Everything you need to know about energy use – according to BP and the IEA
What’s been happening to the world’s energy – BP and the IEA are here to tell us. Here’s everything you need to know:
– Bloomberg notes that the world is turning from coal as cheap oil gains a market: Coal consumption fell by the largest amount in 50 years (that’s, um, 1.8%) whilst oil’s market share rose to a 16 year high. That’s because of lower demand from China and as the FT reports lower US gas prices which switched generation from coal to gas.
– Because coal is the most polluting of fossil fuels falling coal use also means lower carbon emissions – The Guardian noted that BP’s data suggested carbon emissions stopped rising in 2015.
– But it’s not all fun and games for oil either. World oil reserves remain stable, despite the fall in investment (reports Reuters) with stocks taking more than a year to clear (reports the Economic Times) all of which means the “oil industry faces two more years in the doldrums” says The Times.
– And what about gas i hear you ask (ok, not really), well actually not great there. The International Energy Agency (IEA) says we are facing a ‘gas glut’ as it again cuts it’s forecasts gas consumption reports Bloomberg.
Batteries: Investments boost UK renewables sector as Tesla may turn to Samsung
Energy companies are pouring unprecedented sums of money into batteries and other power storage systems long deemed a green pipe dream, in a move experts said would transform the face of the UK’s electricity industry – reports the FT’s Pilita Clark (verbatim).
Meanwhile, stateside, Tesla Motors Inc. may get batteries for its energy unit from Samsung SDI Co., Elon Musk, chief executive officer of the electric-car company, said on Twitter.
UK Energy: EDF to flog coal, gas assets and bills issues return
Reuters reports that French utility EDF (EDF.PA) is considering the sale of its British gas and coal plants and has used Barclays bank to approach potential buyers, two sources familiar with the matter said.
The news comes as the French utility struggles to raise finance for the increasingly delayed Hinkley Point C nuclear project in Somerset.
In news only related by being a mainstay of the UK energy debate The Telegraph reports that 4 million energy customers have been over-charged by their supplier due to billing errors.
In other news