Japan extracts ‘frozen gas’ from seabed

adminBusiness Gas, International

The island nation has become the first country to extract natural gas from methane hydrates frozen underneath the sea. New technology could lead to the gas being commercially extracted in the coming years – as the technology improves and it costs less to extract. Although frozen gas is currently very expensive compared to other methods of extraction, it might be … Read More

5,000 Solar firms go bust in Germany in 2011

adminBusiness Electricity, International

Germany’s once booming solar power industry is declining at an alarming rate, with 20,000 jobs being lost in 2011 alone. Germany once had the biggest solar industry in the world, providing around 150,000 jobs by 2010, but that bubble seems to be starting to burst, as demand for solar technology drops, government subsidies are cut and competition from cheaper Asian … Read More

China, India & the US still at loggerheads after a week at 2011 Durban Climate Conference

adminEnergy Efficiency, International, Utilities Market Regulation

Representatives from 194 countries around the world have been at COP17 in climate talks for the past week trying to get Kyoto II signed, but the US, China & India are barely even talking. With global carbon emissions higher than ever before, the UNFCCC is pushing hard for a successor to the Kyoto Protocol, but the two fastest growing economies … Read More

Rising gas prices push up energy bills

adminBusiness Electricity, Business Gas, International, Utilities Market Regulation, Wholesale Utilities Markets

Wholesale natural gas prices are 40 per cent higher than they were this time last year. Despite criticism that green taxes and subsidies are pushing up energy prices, Ofgem remain certain that it is rising wholesale electricity prices that are to blame. An Ofgem report stated that wholesale gas is now 40% costlier than it was at this time last … Read More

Marubeni invests £200m in UK windfarm

mattEnergy Efficiency, International

Marubeni Corp has become the first Asian company to invest in UK renewable energy. The Japanese conglomerate has invested £200m for a 49.9% share in a UK wind farm owned by Danish renewable firm Dong Energy. Marubeni‘s investment is in the Gunfleet Sands wind farm, located off the Essex coast. The wind farm began full operation last year and produces … Read More

Oil price up after OPEC stalls production

mattInternational, Wholesale Utilities Markets

The price of oil has jumped up to over $118 per barrel as OPEC is so far failing to agree on an increase in production Most of the members of the oil cartel voted against upping production levels, in an unusual show of disagreement between the nations. There are tensions within the Organisation of Petroleum Exporting Countries (OPEC), with two … Read More

High oil price affecting demand – IEA

mattInternational, Wholesale Utilities Markets

The International Energy Agency (IEA) has said the current high price of oil is beginning to affect demand. The IEA has said the global demand for oil has been slowing over the last few months, due to very high prices. Despite their concerns, the IEA did not change it’s global oil demand growth forecast, which is at 1.4 million barrels … Read More

UK nuclear plans delayed after Fukushima

mattInternational, Utilities Market Regulation

A decision to approve designs for Britain’s next generation of nuclear plants has been delayed for a safety review The workers at the nuclear power plant in Fukushima are still fighting to contain radiation after the earthquake and tsunami destabilised its reactors, designed with withstanding natural disasters in mind. In an attempt to incorporate any lessons learned from the crisis … Read More

Japan quake increases energy price worries

mattEnergy Efficiency, International, Wholesale Utilities Markets

What does the catastrophic record-magnitude earthquake in Japan mean to the worldwide energy industry? With the disastrous events in Japan following the record magnitude earthquake, the country has experienced some problems with one of its nuclear power stations in Fukushima. Nuclear reactors are meant to be built to withstand seismic activity, but the plant is still experiencing some significant difficulties, … Read More