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NewsOil 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, [...]
Posts Tagged ‘Energy Prices’
‘Big six’ make small price reductions
All of the big six energy suppliers have now cut their prices, following electricity and gas price rises in the second part of 2011. All of the largest players in the energy market have now cut their standard domestic tariffs to some extent, but all of them have made reductions that amount to a fraction [...]
PAC publishes report on Smart Meters
The Public Accounts Committee has published their MPs report on the preparations for the rollout of Smart Meters for all homes and businesses. The Public Accounts Committee (PAC) is responsible for overseeing government expenditures to ensure that they work in the public interest. The Smart Meter rollout is expected to cost £11.7 billion, and the [...]
Which? calls for halt to smart meter rollout
The consumer group Which? has today called for “an immediate halt to the smart meter roll-out” as it believes a full review of the plans are needed before the second phase starts in 2014. As we reported back in March last year, the DECC has already set out its plans for a nationwide smart meter [...]
5,000 Solar firms go bust in Germany in 2011
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 [...]
Chris Huhne attacks critics
The Energy & Climate Change Secretary has called renewable energy critics ‘curmudgeons and faultfinders’ and says they are ‘selling Britain’s ingenuity short’. Chris Huhne seems to never be out of the spotlight. A couple of weeks ago he was slamming those who doubt the cost-effectiveness of renewable energy sources, such as wind power, and last [...]
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 [...]
‘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 [...]
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 [...]
Weightman to release report on nuclear power
Energy Secretary Chris Huhne is expected to use the report on the Fukushima disaster by Mike Weightman to push the UK’s new nuclear power program. The report on what can be learned from the Fukushima disaster is expected to kick-start the UK’s nuclear programme, despite criticism from Greenpeace and other environmental groups that it has [...]
