Energy suppliers are warning that wholesale gas is being traded at significantly higher prices than it was a fortnight ago. In winter 2012 we rely on imported gas more than ever. This was the main reason given for the recent winter price rises made by all big six suppliers, and it seems foreign imports are not just a problem in … Read More
Shell announces 54pc profits rise
Oil giant Shell has announced bumper profits from 2011, up 54pc from the previous year. The company’s formula for success is astonishingly simple – it sold oil at much higher prices, compensating for losses in its other businesses. Oil prices at an average of $109 per barrel, up from $88 per barrel the previous year, led to Shell to announce … Read More
Fracking for shale gas regulations sufficient
A report published by the European Commission has declared that the current rules regarding fracking for shale gas are sufficient The controversial new method of extracting gas by hydraulic fracturing (fracking) of rocks deep below the Earth’s surface is already covered by existing water and drilling regulations, and no new rules are needed until the technology reaches a commercial scale, … Read More
The main problem with wind turbines
32,000 new turbines are planned, but how many understand the major flaw with the UK’s most popular renewable energy source? It seems at first glance to be the perfect solution to an ever-growing problem. Like the sun, the wind never ‘runs out’, and each turbine we build in the UK provides a little bit more energy to meet our needs. … Read More
Rising gas prices push up energy bills
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
Carbon emissions up as Chinese economy booms
Global carbon emissions are up 6 per cent to 33.5 billion tonnes – the largest increase in a single year, despite low growth in developed nations. According to new figures released by the US Department of Energy, China is now the largest polluter in the world, taking the crown that the USA has worn for decades. China now accounts for … Read More
Fracking caused 50 earthquakes – report
Cuadrilla Resources, the company responsible for drilling for shale gas underneath Blackpool, has released the findings of an independent report it commissioned earlier this year. On April 1, a tremor reaching 2.3 on the richter scale was recorded, followed by another of around 1.4 on May 27th after drilling at the Preese Hall-1 well in Lancashire. The company has even … Read More
‘Keep switching’, says Huhne at Energy summit
The UK has “relatively good electricity and gas prices”, the Energy Secretary said at the Energy Summit held on 17 October 2011. Mr Huhne said on Radio 4’s Today programme, that energy companies were “not the Salvation Army”. He added “We expect them to earn respectable returns for their shareholders but they need to be operating in a fair and … Read More
Nuclear is cheapest ‘low carbon’ energy source
Energy secretary gives the green light to nuclear development, despite fears over the management of nuclear waste. In a speech to the Royal Society today, energy secretary Chris Huhne confirmed that the UK is to continue with its plan to build new nuclear power plants that was set in motion by the current Labour Party Leader Ed Miliband when he … Read More
Weightman report: nuclear power is safe
The final report by Mike Weightman commissioned after the Fukushima disaster in Japan confirms “no fundamental weaknesses” in the UK’s nuclear licensing program. The report makes 38 recommendations of lessons learned from Fukushima, but stresses that is that nuclear power is safer than it has ever been. The Department for Energy and Climate Change (DECC) has said “operators should continue … Read More