Energy Consumption NEWS

Millions of customers and businesses are concerned about whether and how the current energy crisis, which resembles the oil crisis and the high inflation of the early seventies, will impact net zero plans. This concern was echoed by Phil Manock, Head of Sales and Business Development at British Gas – which works in partnership with Centrica Business Solutions, who spoke to Sumit Bose, the Founder of future Net Zero during The Big Zero Show at the Coventry Building Society Arena. Mr. Manock said: “I think the main challenge right now is rising energy costs. Only 12 to 18 months ago, a customer spending a million pounds a year for the same energy today is probably spending three million pounds a year. “Part of the situation is to help customers through that energy crisis with solutions that we can try and find through better energy purchase or looking at how we can decarbonize and reduce energy costs more differently, it’s about where they are wasting energy? “We are investing £500 million in building a 900MW portfolio of solar and battery storage assets by 2026.

Sri Lanka’s fuel stocks will last for about five more days, its power and energy minister said on Thursday. Chronic fuel shortages have worsened this week with long lines at some gas stations countrywide. The stocks cover fuel for vehicles, some industries and essential services. Sri Lanka is unable to make $725 million in overdue payments to suppliers and also struggling to open letters of credit for future shipments, power and energy minister Kanchana Wijesekera said. “We are struggling to get fuel supplies due to our forex issues and the government is working to manage existing stocks of diesel and petrol until June 21. Stocks could run out faster if we do not cut back on non-essential travel and stop hoarding fuel. ” “We are expecting a petrol shipment within the next three days and another two shipments in the next eight days,”

The Hyderabad-based company, which has shifted its focus from being a pure play independent green power producer to offering storage as an independent service, is constructing a network of four 50GWhrs or 10GW storage capacity.

The power consumption had dipped across the country due to lockdowns - both in the first and second wave of the coronavirus disease (Covid-19) pandemic. The economic activity was impacted due to lockdowns, which in turn led to fall in energy demand. India witnessed its highest ever demand of 200570 MW (or 200.57 GW) for power at on July 7, the Union power ministry said in a release on Tuesday. The figure is based on the system operations highlights for July 2021, put out by the Power System Operation Corporation Ltd (POSOCO), the ministry added. This number was 17.6 per cent higher than the country's demand for power in July last year, according to power ministry.

NEW DELHI : India's fuel consumption could rise by 9.8% in the year to March 2022, its highest pace of growth in six years, driven by robust demand for gasoline and gasoil in Asia's third largest economy, according to initial government projections.

The re-balancing of global oil markets remains “fragile” amid weaker estimates for demand and recovery in supplies, International Energy Agency said. IEA cut forecasts for world oil consumption in 2021 by 200,000 barrels/day as pandemic continues to limit travel and economic activity. It boosted projections for supplies outside the OPEC cartel by 400,000 barrels a day as a price recovery spurs investment.

National Energy Administration released a report of China’s energy consumption in a press conference on Monday. According to the report, natural gas demand climbed up to 16.8 percent, while consumption of crude oil has increased up to 2.5% in the first half of 2018. There has been an increase of 3.1% in the coal consumption. Furthermore, investments have decreased in thermal power utilities and increased in gas-related utilities.

Trade house Socar Ukraine, reportedly, imported close to 250 million cu m of natural gas in the first half of 2018, and became the leader in gas import to Ukraine. According to a report released by SOCAR Energy Ukraine, the gas import was 4-fold more versus the 2017 same term. CEO, SOCAR Energy Ukraine stated that the company will strive continuously to increase the import volume of natural gas.