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Compensation for carbon tax delayed by EU October 6, 2013 BRITISH companies owed millions of pounds in compensation from a controversial carbon tax have been left waiting for their promised payout, after the government admitted this weekend that EU approval has been delayed until at least the end of 2013. The government had pledged to offer energy-intensive businesses a £100m compensation package to offset costs [...]
London Report: BP’s court win sees FTSE defy US shutdown October 3, 2013 THE FTSE 100 rose yesterday, boosted by heavyweight BP which won a rare legal battle related to its oil spill in the Gulf of Mexico, but ongoing US government shutdown uncertainty sapped momentum. Energy firm BP – the UK’s fifth biggest company by market capitalisation – rose 1.1 per cent after it won a legal [...]
Energy innovation is stagnating and the implications for growth are stark October 3, 2013 EVERY day seems to bring better websites, cooler startups and niftier smartphones. But there’s one area where technological progress is barely crawling along. Unfortunately, it’s one race we cannot afford to lose. I’m talking, of course, about energy. To get an idea of the problem we face, consider two stories from last week: Ed Miliband’s [...]
Energy bosses hit out at plans to rejig market October 1, 2013 THE BOSS of energy firm SSE yesterday called for the government to incorporate the cost of its green initiatives into taxation to bring down bills, rather than forcing a price freeze as proposed by the Labour party. In an open letter to the leaders of the three major political parties, Alistair Phillips-Davies said “while rising [...]
Top tips to save on energy this winter October 1, 2013 Annabel Palmer on the simple ways households can cut costs LABOUR leader Ed Miliband thrust energy into the spotlight last week when he announced that, should he win the 2015 election, he will freeze prices for 20 months. Despite energy firms noting that this would prevent crucial investment, he claims that it would save a [...]
Why a smart meter might help cut your bills October 1, 2013 Smart energy meters are expected to change the way consumers manage their energy use. Currently optional, but due to be rolled out nationally from autumn 2015, the devices provide live, detailed data on costs. “These developments are set to revolutionise energy usage,” says Stephen Passmore of the Energy Saving Trust. While the meters themselves do [...]
SSE Fitch rating of A- remains unchanged following Ed’s energy freeze September 30, 2013 The ratings agency Fitch Ratings has today affirmed utilities company SSE the Long-term Issuer Default Rating (IDR) of 'A-' with a Stable Outlook. This comes after Ed Miliband's price freeze announcement last week; the A- rating signifies that economic situation can affect the finance of a company, but is an unchanged rating for the company. [...]
Global warming alarmism is no longer scientifically or politically sustainable September 30, 2013 THE global warming doomsday cult is coming to an end. Belief that the world is doomed, unless we replace coal and gas by renewables costing two or three times as much, is already driving up home energy bills and making manufacturing uncompetitive. But last week both Ed Miliband and a report from the Intergovernmental Panel [...]
Energy firms in talks to extend green targets September 29, 2013 ENERGY companies are in advanced talks with the government to delay the start of a costly energy-saving scheme, as they argue that implementing it too quickly will cause customers’ bills to rise. A spokesperson from SSE told City A.M. yesterday that the big six energy supplier thinks an 18-month delay would be sensible to avoid [...]
Global warming alarmism is no longer scientifically or politically sustainable September 29, 2013 THE global warming doomsday cult is coming to an end. Belief that the world is doomed, unless we replace coal and gas by renewables costing two or three times as much, is already driving up home energy bills and making manufacturing uncompetitive. But last week both Ed Miliband and a report from the Intergovernmental Panel [...]