With EDF Energy still in talks with the government about building new nuclear plants, are we at real risk of running out of electricity? Britain could have a new ‘fleet’ of nuclear power plants by 2030, if all goes well, but the first of the 18 projects is under threat. EDF is negotiating hard with the government about the subsidy … Read More
Michael Fallon appointed Energy Minister
Conservative MP Fallon has been appointed the role as part of a ‘mini reshuffle’ of the cabinet. The old Energy Minister, John Hayes, will now act as a political and parliamentary adviser to the Prime Minister. A mere 6 months after his appointment, John Hayes leaves his post as Minister for Energy, having kicked up a bit of a storm … Read More
2013 budget announces shale gas tax breaks
Tax breaks for shale gas companies, and Climate Change Levy Exemption for ceramics companies were announced in the 2013 budget. The Chancellor George Osborne today unveiled his 2013 budget, which he said would help “those who want to work hard & get on”. But there was no sign of the new, simpler ‘carbon tax’ that we thought might possibly replace … Read More
Drax power station: coal to biomass
The largest carbon emitter Britain is to stop burning coal to comply with EU laws, and will instead burn imported American wood chips. Running on coal, Drax has long been a symbol of Britain’s energy industry, but its move to biomass means it is fast becoming a symbol of our confusing and convoluted present day energy policy. Built right next … Read More
North Sea gas field to be brought back online
Nearly a year after a significant leak was found, a gas field operated by Total Gas & Power is to be restarted. Production at the Elgin gas platform, which is situated 240 km east of Aberdeen, was suspended when gas was found leaking last March. The investigation into what caused the leak is still ongoing, but the Health & Safety … Read More
Fracking ‘could be fast tracked’
The Growth and Infrastructure Bill, currently going through the House of Lords could give shale gas the go-ahead faster than expected. Shale Gas is the reason many parts of the U.S. are seeing their economy boom. Energy prices have halved in some areas, as their planning and drilling regulations have allowed shale exploration to progress to commercial extraction and sale … Read More
British Gas announces profit of £606m
The energy giant, owned by Centrica Group Plc, has announced a profits increase of 11% for 2012. British Gas claims that a colder winter compared to 2011 helped to increase profits as customers used more gas. Gas consumption was up 12% on the previous year. This comes as a shock to many, as British Gas raised their electricity and gas … Read More
A 2013 UK Shale Gas Revolution? Unlikely.
Natural gas prices in the US have dropped by almost two thirds since they started ‘fracking’ for shale gas. Could we see a similar boost to the UK economy any time soon? Shale Gas – probably the only hope we have of producing a significant amount of useful, home-grown energy in the next decade or two. Some say it is … Read More
ScottishPower to raise electricity and gas prices
The energy giant is the fifth of the ‘Big Six’ to announce a hike to its prices this winter. The increase will take place on 3 December, when both electricity and gas will go up by 8.7%. This news means 5 of the ‘Big Six’ have raised prices in recent weeks. E.ON have pledged to not increase prices in 2012.
New nuclear power stations planned
Between 4 and 6 new nuclear power power stations will be built, creating 12,000 jobs during construction. The new plants will be built by Hitachi, bringing fresh competition to the UK nuclear programme. Hitachi Ltd acquired Horizon Nuclear Power, a joint venture set up by RWE Npower and E.ON in 2009, who later agreed to pull out of the nuclear … Read More