The Post-Election Energy Markets New Consensus or Continuing - - PDF document

20 June 2017 Amba Hotel, Charing Cross, London

The Post-Election Energy Markets

New Consensus or Continuing Paradox?

www.cornwall-insight.com

“On 8 June, the UK headed to the polls in the second general election in two years. In an election that had been expected to be dominated by Brexit, themes of security and fairness emerged as key battle grounds. Energy was one of the theatres in which the debates around social equity and fairness took place with the leading parties setting out difgerent priorities and means of achieving those outcomes. But in a signifjcant change even from 2015, it is telling that both Labour and the Conservatives agreed during campaigning that intervention in the energy sector would be necessary. At our customer briefjng, we will provide insight into the implications in the retail and wholesale markets

• f a Conservative minority government for the

energy sector as the long-standing political consensus around policy support for liberalised energy markets continues to fracture. We will explore what fairness in the retail energy markets really means, whether the objectives

• f intervention in retail markets are adequately

defjned, and assess the options available to government to achieve their goals. We will then consider how it might be possible to deliver sustained investment in secure, low carbon and fmexible energy system against the backdrop of cost being the key concern of policy makers in this new world. We hope that you enjoy the event and fjnd the discussions useful and thought-provoking.” – Gareth Miller, CEO, Cornwall

Introducing Cornwall

The Post-Election Energy Markets

www.cornwall-insight.com

Who are Cornwall?

Established in 2005, Cornwall has developed a unique position in the UK energy market providing expert research, insight and intelligence to existing and potential market participants and their advisors. We are widely regarded as the market-leader in the

• sector. Our services are

valued by a broad range of businesses and our original research is regularly cited in the national press and frequently referenced by front bench politicians.

Agenda of the Day

09.15 Registration and refreshments 09.15 Introduction and Welcome Session 1 –The impact of intervention in the retail energy markets 09.45 Keynote address—balancing fairness and competition in the retail energy markets

Government policy objectives and choices and launch of Cornwall insight paper

10.30 The impact of non-wholesale costs on future energy bills 11.00 Can the market still innovate? 11.30 Break 11.50 Debate: regulation, engagement and the new political agenda

Chaired by Professor Stephen Littlechild. Experts including:

• Steve Harris, Director of Trading, Ovo Energy
• Richard Howard, Director of Development & Head of

Environment & Energy, Policy Exchange

• Greg Jackson, CEO and Founder, Octopus Energy
• Richard Hall, Chief Energy Economist, Citizens Advice)

www.cornwall-insight.com

12.30 Lunch Session 2 – Striking the balance in low carbon, capacity and fmexibility 13.30 Keynote address—unravelling the paradox

How does capacity, low carbon and fmexibility policies interact and why a policy shift is necessary

14.00 Charting the least cost pathway to 2030 14.30 Assessing the capacity market’s contribution 15.00 Balancing services fjt for the future 15.30 Break 15.50 What is a credible policy framework for long term investors in the sector? 16.15 Debate: where next for the low carbon agenda

Chaired by Cornwall’s Ben Hall. Experts including:

• Jim Watson, UKERC
• Tom Lafgord, UK Policy Advisor, E3G

16.55 Close & Drinks reception

Introduction and Welcome Keynote address | Unravelling the paradox Assessing the Capacity Market’s contribution Gareth Miller, CEO, Cornwall

Gareth has worked in the energy sector in a variety of client, transaction, investment and project roles, fjrst as head of energy project fjnance for a major bank and latterly as a policy advisor to DECC focusing on designing policy to enhance investment into the UK energy sector. He has deep knowledge of the commercial landscape and investment aspects of the energy industry. His experience includes commercial due diligence and lead negotiation, investment appraisal, and energy policy development and

• evaluation. As well as extensive work in the United Kingdom,

he has international experience in the Irish, Italian and South African energy markets. Gareth leads our bespoke consultancy work for generators.

Meet the Speakers

Keynote address—balancing fairness and competition in the retail energy markets Robert Buckley, Research Director, Cornwall

Robert Buckley has over 20 years experience of consulting and advising participants in deregulated energy markets. An expert in supply markets, Robert leads Cornwall’s supply market work, including the supply market share surveys which provide quarterly updates to leading market participants on competitive positions in both business and household markets in GB. Robert also has an understanding of network, contracting and pricing issues from a supply and ofgtake perspective. Recent projects on supply issues address proposition development, margin and competitor intelligence aspects.

The impact of non-wholesale costs on future energy bills Jonathan Davison, Wholesale Team Leader, Cornwall

Jonathan is a Senior Analyst at Cornwall, specialising in the wholesale market and third-party charges on bills. He leads on our quarterly forecast of third-party charges in electricity and gas as well as our quarterly forecast of the Contracts for Difgerence Supplier Obligation. He reviews a number of Market Intelligence Reports, including daily, weekly, and monthly pricing, and the daily Balancing Mechanism report. Jonathan is actively involved in consultancy and his project experience includes bespoke delivered cost of power assessments, a report on GB security of supply, imbalance price analysis, and a due-diligence review of a wind farm

• business. He also presents on our Project Finance for Energy,

Getting Betta, and GB Generation training courses.

Can the market still innovate Anna Moss, Domestic Team Leader, Cornwall

Anna manages and develops research in the domestic retail market, supporting the analytical team in their day to day activities. She works with a number of market participants, including new entrants, to provide support in identifying trends and ensuring smooth delivery of services. Anna is also involved in bespoke training and consultancy work in the domestic retail market, and have worked on studies covering topics such as collective switching, market intervention and new market entry. She joined Cornwall in June 2013 after graduating from the University of East Anglia with a BSc in Environmental Sciences with a Year in Industry.

www.cornwall-insight.com

Charting the least cost pathway to 2030 Tom Edwards, Senior Consultant, Cornwall

Tom is a senior consultant focusing on generator issues, ancillary services, the Capacity Market, wholesale pricing and the Balancing and Settlement Code. Tom has sat on a wide range of industry meeting groups including P305 which oversaw the changes to bring through the Electricity Balancing Signifjcant Code Review. Tom has been a member of the Imbalance Settlement Group since 2012 and was elected

• nto the BSC panel in 2016. Tom leads on projects which require

complex modelling and is familiar with building business models, as well as more in depth resources using Monte Carlo methods or agent based simulation. Tom is also involved in delivering public and in house courses

• n the commercial, regulatory and governance areas of the

electricity market.

Meet the Speakers

Balancing services fit for the future Tom Palmer, Senior Consultant, Cornwall

Tom has over 10 years’ experience within the energy sector, covering electricity, gas and oil. He has worked at EDF, OFGEM, Origami Storage, Consulting (AEA, Palantir, URS). His experience included conducting investment appraisal and project fjnance with signifjcant modelling experience in excel and bespoke

• ptimisation / Monte Carlo modelling.

In his previous roles at EDF, he was responsible for managing commercial arrangements during commission and operation of coal and gas power plants, including optimisation and hedging. His consultancy experience includes working with DECC / CCC

• n energy systems modelling (MARKAL) for setting 2020 and

2050 emissions targets. Tom has a strong academic background. Tom completed his MA in Development Economics at the University of East Anglia. He also has a degree in BA (Hons) in Economics.

What is a credible policy framework dor long- term investors in the sector Peter Atherton, Associate, Cornwall

Cornwall associate Peter Atherton is a well-known equity analyst having headed utility research at several eminent City institutions, most recently Jefgeries, and is a respected energy commentator.

www.cornwall-insight.com

Meet the Panellists

Steve Harris Director of Trading Ovo Energy Richard Hall Chief Energy Economist Citizen’s Advice Jim Watson Director UK ERC Ben Hall Associate Director Cornwall Richard Howard Head of Environment & Energy Policy Exchange Greg Jackson CEO & Founder Octopus Energy Tom Lafgord UK Policy Advisor E3G Professor Stephen Littlechild Former Energy Regulator

As a valued Cornwall customer we are delighted to ofger you an exclusive early bird rate for our next conference. With a range of expert speakers from government, regulator and key businesses alongside Cornwall’s expert team we will focus on key issues impacting both the domestic and non domestic energy markets. To pre-register for the event and take advantage of the early bird rate

• f £495 (+ VAT) contact Richard on

training@cornwall-insight.com

The Future of the Retail Energy Market

22 November 2017

Our next conference

www.cornwall-insight.com Cornwall, 2 Millennium Plain, Norwich, Norfolk, NR2 1TF Telephone: 01603 604400 Email: enquiries@cornwall-insight.com