Firms hit back in energy row June 10, 2014 THE UK’S largest energy firms were forced to defend themselves yesterday after Ofgem wrote to the big six companies asking them to explain why falling wholesale costs had not been passed on to consumers. The regulator said that failure to engage with consumers on this issue “further risks undermining public confidence in the energy market”. [...]
What the other papers say this morning – 10 June 2014 June 9, 2014 FINANCIAL TIMES Chico’s explores private equity sale Chico’s, the US womenswear chain, is exploring a sale to private equity and has discussed a deal with potential suitors that could lead to one of the largest take-private transactions so far this year. The final asking price could not be ascertained but one industry source said Chico’s [...]
Most UK adults do not trust any energy supplier June 9, 2014 MORE than half of British adults do not trust any energy supplier, while 36 per cent do not trust their energy bills, according to new research published today. Forty-one per cent of 10,000 respondents fear they are paying for more energy than they are using, showed a survey commissioned by the Smart Meter Central Delivery [...]
How climate change policies are hurting the world’s poor June 6, 2014 Government policies intended to reduce carbon dioxide are directly harming the poor in both the developing and developed world, according to a report released by the Global Warming Policy Foundation (GWPF). Energy sources that are not based on fossil fuels are making both power and food more expensive, the report argues. While the affluent remain [...]
How climate change policies are hurting the world’s poor June 6, 2014 Government policies intended to reduce carbon dioxide are directly harming the poor in both the developing and developed world, according to a report released by the Global Warming Policy Foundation (GWPF). Energy sources that are not based on fossil fuels are making both power and food more expensive, the report argues. While the affluent remain [...]
Severn Trent to generate more green energy June 2, 2014 SEVERN Trent is aiming to generate 30 per cent of its energy needs from renewables by 2015, to help cushion itself from rising power costs. The FTSE 100-quoted utility firm, which supplies water to over 4m customers in the Midlands and parts of Wales, currently generates 24 per cent of its energy from renewables. “Our [...]
Putin fears an EU fracking bonanza – but environmentalists don’t have to May 29, 2014 RUSSIA and China agreed on a $400bn, 30-year deal last week, wherein Gazprom will deliver 38bn cubic metres of natural gas a year to China. This will exacerbate the EU energy crisis, but the bloc still seems intent on ignoring the only obvious solution – fracking – and fidgets at the margins with renewables. Large [...]
London Report: FTSE ends flat as Royal Mail warns of rivals May 22, 2014 THE FTSE 100 fell slightly yesterday on the back of a mixed picture of the latest Purchasing Managers Index surveys – with China and the US reporting good results while France’s were poor. The market closed down 0.48 points at 6820.56, a drop of 0.01 per cent. The biggest climber of the day was global [...]
SSE profits rise 9.6pc but retail unit struggles May 21, 2014 ENERGY giant SSE yesterday said pre-tax profits had risen by 9.6 per cent to £1.55bn last year, but its supply arm lost 370,000 customers over the period. The FTSE 100 firm saw supply operating profits fall 32.2 per cent to £246.2m, which it attributed to lower use of energy during milder weather and higher wholesale [...]
Complaints to small energy firms surge May 21, 2014 THE NUMBER of customer complaints to smaller energy suppliers has risen sharply over the past six months, according to new data released today. The public furore over the cost of living and rising energy bills has prompted an increasing number of people to shop around for cheaper deals. Big six supplier Npower still had the [...]