Letters to the Editor – 25/10 – Deferred costs, Best of Twitter October 24, 2013 Deferred costs [Re: The global economy sinks under its debts as the real cost of energy rises, yesterday] Tim Morgan’s article strikes at the real issue facing the global economy and all of us. Perpetual growth is almost certainly over. The debt problem of the credit crisis has not gone away, it has simply been transferred [...]
Cameron risks coalition split on green taxes October 23, 2013 THE RIFT in the Coalition widened yesterday, after Conservative Prime Minister David Cameron pledged to “roll back” the green energy levies strongly supported by the Liberal Democrats. His coalition partners dismissed the announcement as a panicky policy that had been “made up on the hoof…by a party getting cold feet on the environment”. According to [...]
APR Energy to buy GE rental unit for £194m October 23, 2013 TEMPORARY power provider APR Energy yesterday said it has agreed to buy General Electric’s power rental business for $314m (£194m), in a deal which its chief executive called “transformational” for the company. John Campion told City A.M. that the acquisition of GE Power & Water in Houston, which rents mobile gas turbines to provide temporary [...]
The global economy sinks under its debts as the real cost of energy rises October 23, 2013 ALTHOUGH the economy is improving, this is turning out to be “a recovery, but not as we know it”. Britain may be getting better off, but people keep getting poorer, as the costs of essentials continue to grow much more rapidly than incomes. Yet far from being a uniquely British problem, this is a worldwide [...]
Major stokes row with call for energy tax October 22, 2013 FORMER Prime Minister Sir John Major’s call for a one-off windfall tax on energy firms’ profits was lambasted as “misguided” and unfair yesterday, as analysts and investors warned the levy would discourage investment and raise consumers’ bills. Speaking at a lunch in Westminster, the former Conservative leader said recent price rises were unacceptable and suggested [...]
EDF nuclear subsidy is a naive gamble on the future price of carbon and gas October 22, 2013 RARELY have we seen a policy shrouded in so many what-ifs. The much-anticipated announcement that new French-designed atomic reactors are to finally go ahead at Hinkley Point in Somerset has been greeted with a mixture of elation and caution. The caution is well-founded, and Parliament’s scrutineers need to get ready. We still know very little [...]
Against the Grain: Why expensive renewable energy policies are failing to save the planet October 22, 2013 ENERGY price rises are again causing public anguish. The recent actions of some energy companies can be plausibly described as provocative, no matter how well-founded their decisions might be. They risk provoking the ire of the opposition, the government, and even former Prime Ministers like Sir John Major (who has just called for a windfall [...]
Npower defends plan to increase bills by 10.4pc October 21, 2013 NPOWER yesterday became the third of the big six suppliers to raise its energy prices, as it unveiled a 10.4 per cent increase to the average gas and electricity bill. The price hike will take effect from 1 December and equates to an extra £137 per year for dual fuel customers. The energy firm’s increase [...]
Ed Davey defends state-subsidised EDF-Chinese nuclear reactors October 21, 2013 The British government and French utilities company EDF have signed a deal to build two nuclear reactors totalling £16bn at Hinkley, Somerset. The new reactors will be built at Hinkley Point C, with the assistance of EDF's Chinese partners, China General Nuclear Power Group and China National Nuclear Corporation. The Department for Energy and Climate [...]
Npower announces 11.1 per cent gas bill increase October 21, 2013 Electricity supplier Npower has announced that it will raise gas prices by 11.1 per cent. Dual fuel bills will increase by 10.4 per cent. Electricty prices will rise by 9.3 per cent (release). Those increases will take effect on 1 December, and will see the typical dual fuel bill rise to £1,459. Last year Npower [...]