Renewable energy sources must be “financially sustainable” if they are to meet the world’s needs, the Prime Minister David Cameron has said. A meeting of international Ministers was held last week when Mr Cameron welcomed the investment of £350 million to create 800 jobs in the energy sector, but he says the main challenge is to drive down costs. Mr … Read More
EDF Energy announce price rises
EDF Energy have today announced they are to increase their energy prices from 10 November EDF Energy are the last of the big six UK energy suppliers to announce their domestic price rises for this year. The company will raise its retail gas prices by 15.4% and electricity prices by 4.5% from the 10 November. EDF Energy claims it has … Read More
Utility bills a main factor of inflation increase
Inflation hits a three year high of 4.5% for August- utility bills a main factor of the increase of cost of living. The biggest annual rise in water and energy bills in more than two years has been a main factor in the high inflation rate. Energy prices, along with increases in the cost of food and clothing meant the … Read More
UK joins US in laser nuclear fusion project
The UK has teamed up with a US laser lab, hoping to develop clean energy from nuclear fusion The new technology uses lasers to compress hydrogen atoms together until they fuse, releasing large amounts of energy. Experiments at The National Ignition Facility (NIF) in the US have been promising, producing huge bursts of energy.
Leaked letter says bills could increase 30%
A letter from the Prime Minister’s Senior Policy Adviser suggests current energy policy could add 30% onto household energy bills. In a letter leaked to the Telegraph, from Prime Minister’s advisers Ben Moxham and Gila Sacks, there are claims 30% increases in household bills could be seen by 2020. Senior Policy Adviser Ben Moxham said claims by the Department of … Read More
Marubeni invests £200m in UK windfarm
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
Government invests £6.5m in green engineering
The government has announced a £6.5m investment in the future of green engineering The programme will train students in the design of wind turbine blades, amongst other renewable energy initiatives. Business Secretary Vince Cable said the scheme will help to pay for 50 students to be trained in the most innovative future technologies.
Barclays launches farmers renewables fund
Barclays Bank has launched a £100m renewable energy fund for farmers due to a surge in interest Barclays say research shows more than one third of UK farmers want to install renewable energy projects on their farmland, most of them within a year. Farmers hope to generate average returns of £25,000 pounds per year, Barclays said.
Libyan oil production already on the increase
Libyan rebel leaders have already called workers back into oil refineries and said pre-conflict levels of production could be reached as early as next year. The country’s Transitional National Council (TNC), recently recognised by the United States as the nation’s legitimate governing body, said damage to its oil infrastructure is not as bad as previously feared. The Libyan TNC stated … Read More
Ofgem to investigate big six profits
Energy industry regulator Ofgem has stepped up its investigation into how the top UK energy suppliers make their profits The Office of Gas and Electricity Markets (OFGEM) has hired forensic accountants BDO to scrutinise how the top UK energy suppliers make their profit. BDO will look at the trading profits, wholesale prices and hedging practices at British Gas, E.ON Energy, … Read More