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

Electricity procurement contracts in Q3 2022 saw 136 contracts announced, marking a drop of 47% over the last four-quarter average of 255, according to GlobalData’s power industry contracts database.

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The proportion of contracts by category tracked by GlobalData in the quarter was:Power Purchase Agreement with 136 contracts and a 100% share.

Europe leads electricity procurement activity in Q3 2022

Comparing contracts activity in electricity procurement segment in different regions of the globe, Europe held the top position with 73 contracts and a share of 53.7% during Q3 2022, followed by Asia-Pacific with 37 contracts and a 27.2% share and North America with 14 contracts and a 10.3% share.

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Solar is leading technology for electricity procurement contracts in Q3 2022

Among the technologies, solar accounted for 68 contracts with a 50.4% share, followed by wind with 49 contracts and a 36.3% share and hydro with ten contracts and a 7.4% share.

Electricity procurement contracts in Q3 2022: Top companies by capacity

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

  1. Department for Business, Energy and Industrial Strategy (United Kingdom): 9,213.6MW from 43 contracts
  2. Philippines Department of Energy (Philippines): 1,936.93MW from 18 contracts
  3. PTC India (India): 1,569MW capacity from one contract.

Electricity procurement contracts in Q3 2022: Top winners by capacity

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

  1. Orsted (Denmark): 2,877.8MW from two contracts
  2. SJVN Arun -3 Power Development (Nepal): 1,569MW from one contract
  3. Norfolk Boreas (United Kingdom): 1,396MW 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.