Flexibility could deliver up to £16.7 billion in savings per annum in 2050 according to a new report from the Carbon Trust.
The opportunity to hit net zero by 2050 globally is “narrow but still achievable” if renewables grow to dominate the energy sector, while no additional investments into fossil fuels are made.
If the UK is to reach 100% renewables at the lowest cost, it will need 49.5GW of flexibility from both storage and gas, according to research from Wärtsilä.
National Grid is looking to acquire Western Power Distribution (WPD) as part of a strategic transformation that will see the company's assets more focused on electricity transmission and distribution.
NatWest has completed a financing deal with storage and flexible generation company Statera Energy to support eight new projects in the UK.
Drax has dropped plans to develop any new gas plants, including its plans to build Europe's biggest CCGT plant as it moves to turn its back on fossil fuels.
Renewables have overtaken fossil fuels in Europe in what is being hailed as a “landmark” moment.
Fossil fuel generation has more than halved over the last decade, hitting a new record low in 2020.
SSE is to continue to focus on renewables and networks as it sells all of its interests in its portfolio of gas exploration and production assets.