Oil and gas companies are making moves into the UK energy market.

Electricity procurement contracts in July 2022 saw 58 contracts announced, marking a drop of 31% over the last 12-month average of 84, according to GlobalData’s power industry contracts database.

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The proportion of contracts by category tracked by GlobalData in the month was:Power Purchase Agreement with 58 contracts and a 100% share.

Europe leads electricity procurement activity in July 2022

Comparing contracts activity in electricity procurement segment in different regions of the globe, Europe held the top position with 51 contracts and a share of 87.9% during July 2022, followed by Middle East and Africa with three contracts and a 5.2% share and South and Central America with two contracts and a 3.4% share.

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Solar is leading technology for electricity procurement contracts in July 2022

Among the technologies, solar accounted for 27 contracts with a 45.8% share, followed by wind with 25 contracts and a 42.4% share and ocean power with four contracts and a 6.8% share.

Electricity procurement contracts in July 2022: Top companies by capacity

The top issuers of electricity procurement contracts for the month in terms of power capacity involved were:

  1. Department for Business, Energy and Industrial Strategy (United Kingdom): 9,213.6MW from 43 contracts
  2. Hydro Rein Invest (Norway): 586MW from one contract
  3. Delhi International Airport (India): 180MW capacity from one contract.

Electricity procurement contracts in July 2022: Top winners by capacity

The top winners of contracts for the month in terms of power capacity involved were:

  1. Orsted (Denmark): 2,852MW from one contract
  2. Norfolk Boreas (United Kingdom): 1,396MW from one contract
  3. East Anglia Three (United Kingdom): 1,372.34MW capacity from one contract.

All publicly-announced contracts are included in this analysis drawn from GlobalData’s Power database, which covers power plants, T&D projects, equipment markets, analysis reports, capacity and generation, and tracks tenders and contracts on a real-time basis.

More in-depth reports and analysis on all reported contracts are available for subscribers to GlobalData’s Power database.