The abrupt drop in wind and solar power production throughout the UK has led to an increase in gas-produced electricity. Some wind farms produced zero electricity for over 12 hours. Other wind farms only produced 1.7% of their usual output. During these times no electricity was imported from France or other countries. During the same period, gas power producers were able to produce electricity at an increased rate. The need for back-up generation power may be temporary, but it costs money and increases carbon emissions.
The government is to hold urgent talks with representatives from the energy industry amid growing concern about a spike in wholesale gas prices.Wind and solar power accounted for 29 percent of Britain’s electricity production last year, putting the country sixth on the global league table.
Natural gas prices are at record highs as economies around the world begin to recover from the Covid crisis.
The high prices have led to fertiliser plants in Teesside and in Cheshire to close, leading to a major drop in supplies of carbon dioxide gas – a by-product of fertiliser production – which is used across many industries.
High global demand, maintenance issues at some gas sites and lower solar and wind output are blamed for the rise.
Government sources have said there is no threat to UK gas supplies and the impacts on small energy companies that might be the most exposed are being monitored.
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ESG: The New Way of Doing Business in Cheshire, UK
Business and organizational sustainability is a complex issue in Cheshire, with many stakeholders and perspectives. It’s also an area where the stakes are high – if we don’t get it right, there will be dire consequences for our communities and the planet.
The good news is that more investors are taking taking notice of mid-size and small cap companies around ESG issues and organizations. In fact, over the past decade institutional investors have been increasingly incorporating Environmental, Social and Governance factors into their investment decisions. And soon it will be impossible to win any RFP’s without it.
We want everyone (not just big institutions in Cheshire) to be able to incorporate ESG-related risk into their actions because Companies that don’t adapt to these changes will not survive. This change has many companies in Cheshire scrambling to figure out how they can stay competitive and be profitable while also contributing to a better future.
ESG The Report is one solution that helps businesses in Cheshire find their niche in this new landscape by providing information on risks and opportunities related to environmental, social and governance factors affecting them today. Our report offers insights into what investors are looking for from companies in Cheshire and around the globe. Ask about our ESG Frameworks package to help you get started on making your company, department or organization diverse, equitable and inclusive for all stakeholders.