Get Kinected Seminar

Get Kinected seminar, London: exploring key energy and fuel trends for 2022, and beyond

In late October, World Kinect Energy Services welcomed delegates from across the UK and beyond to the inaugural Get Kinected seminar in London.

One of several key customer seminars hosted by World Kinect across the globe this year, the London event attracted host of our key clients, along with external partners and subject matter experts, for a programme designed to explore the latest trends in energy and fuel.

Like no other organisation, World Kinect is uniquely positioned to help our local, regional, and national customers to source energy and fuel, manage price and operational risk, and to reduce their carbon footprints. 

These three stands offered the structure behind our seminar agenda which explored topics that included renewable energy, the volatility of the energy markets, the role that carbon offsetting should play, and the future of hydrogen in the energy mix, with presentations followed by a lively Q&A.

In case you missed it, here’s a summary of what was covered:

Managing spend in volatile markets

The afternoon began with a focus on the challenge of managing electricity, gas and fuel spend through uncertain times. Nicole Leonard, Director - Energy Transition, S&P Global Commodity Insights, started by showcasing the latest power, gas and fuel market trends, highlighting the volatility and insecurity in today’s energy markets. Nicole explained how, in the past two years, global energy markets have become vulnerable and reactive to fears of supply insecurity, as well as demand destruction and recession worry. Volatility has seemingly been the only thing we can rely on, as a world without Russian gas makes ensuring supply difficult. 

Price risk management

Marcel Boonaert, Global Director Portfolio Manager at World Kinect, followed with an overview of utilising price risk management strategies to combat the volatile market. With price deviation skyrocketing—leaving it difficult to pay a reliable amount for energy—businesses must look at the ways to mitigate against price risk, using a method that aligns with their business goals. He compared the absolute price deviation on energy to spending £70 on a pint of beer depending on the time you purchase it—a great way to convey the severity of the situation.

Boonaert advised that the best way to utilise price risk management is to pick a strategy and stick with it, without letting ego or emotion get in the way. The more you can back-test your methods, the better they’ll be—while hindsight is a beautiful thing, it’s not a reliable method for hedging your bets.

On-site solar

Hanna Ahlqvist, World Kinect’s Renewable Energy Solutions Associate, gave us a look at the ways on-site solar can help businesses hedge against extreme power prices. She discussed at how the upfront one-time investment in solar panels is becoming a very rational business decision, especially when faced with the high UK market costs currently. Hanna outlined the World Kinect services to assess and develop solar panel set-ups for businesses and advised that self-generation has the most credible additionality claims, lowest reputational risk and the highest cost-saving potential of the renewable energy options available to businesses.

The journey to net zero

Following a brief intermission, David Carroll, Net Zero Specialist with World Kinect, reopened the session with a high-level macro view of Net Zero. He walked us through why it is increasingly important for organisations in the face of continually tightening regulation since the Paris Agreement, as well as discussing increased consumer and end-user demand for carbon reduction throughout supply chains.

Carroll explained the necessity for all business to have a robust plan to achieve net zero that starts with reducing energy consumption, includes switching to renewable fuels and energy, and utilises carbon offsets to combat residual emissions, as application of alternative forms of energy may not yet be viable.

His overview of the decarbonization journey set up the remaining sessions that included an exploration into the Energy Transition, showcasing short- and medium-term directions for fuel users.

Renewable liquid fuels

Matthew Whitton, Vice President of Supply Land & Aviation Europe with World Fuel Services, then took to the stage to present the directions of supply and demand for the still niche but rapidly growing avenue of renewable liquid fuels.

Whitton shared some of World Fuel’s experiences in helping develop the Sustainable Aviation Fuel market globally, before focusing on Renewable Diesel (otherwise known as HVO) and the directions the Renewable Diesel market is expected to take over the next few years.

Carbon offsets

Andrea Cortes, Senior Carbon Originator at World Kinect, explained how carbon offsets can be used efficiently alongside a wider carbon reduction plan to play a key role in achieving net zero today. With many hurdles in the way before renewable alternatives to liquid fuels can become commercially viable and available at the scale required, carbon offsetting becomes the obvious bridging mechanism – but one that must be approached with diligence and care to avoid misuse, and ensure transparency and integrity in any decarbonisation claims.

Hydrogen - the fuel of the future?

Richard Scott, Vice President of Global Market Development at World Kinect, wrapped up the day with an address on the role hydrogen may have to play in the future energy ecosystem, and the role that World Kinect is playing in helping bring that solution to the fore.

Within the transportation industry, passenger cars and smaller commercial vehicles are moving to electric, while for larger trucks, HGVs and off-road mobile machinery, hydrogen fuel technology may be the most efficient option. Scott also detailed additional use cases across agricultural, industrial marine, and specialist applications.

What did we learn?

The seminar gave attendees the opportunity to ask important questions to leading experts in sessions that educated and highlighted the risks and potential opportunities coming in the near future. Interesting highlights emerged such as achieving net zero being a competitive advantage for businesses, renewable fuel and energy options continuing to grow in prominence and availability as the energy transition gathers pace, although are not yet able to fully displace fossil fuels, and the importance of risk management in today’s volatile energy markets.

For information on our 2023 seminar scheduled, be sure to follow our World Kinect LinkedIn page.