A £30 billion wave power scheme along the Severn estuary in Wales is set to be axed by the government. The wave power project was set to be the biggest in the world, and the loss will be a big blow to the Welsh economy. The Severn barrage was to span the Severn estuary between Wales and Somerset, however it … Read More
Rising energy bills fund green Britain
Ofgem say energy bills may rise by 100% over the next decade in order for Britain to reach its green targets. The cost of upgrading the UK’s energy infrastructure is expected to be covered by customers’ rising energy bills. Ofgem have said that a sum of £32 billion is required over the next 10 years in order to support the … Read More
World’s largest offshore wind farm opens off Kent
Today has seen the grand opening of the World’s largest offshore wind farm off Thanet, Kent. The UK is now set to become the biggest generator of wind generated energy in the world. The amount of energy generated by wind in the UK is now expected to rise to 1,300MW compared to 1,100MW in the rest of the entire world. … Read More
Oil found off coast of Greenland
Scottish firm Cairn energy have found new oil just off the coast of Greenland Edinburgh based energy company Cairn Energy have struck oil for the first time just off the coast of Greenland. Early analysis indicates two types of oil have been found, with natural gas also present in the Baffin Bay basin. Further analysis is needed to determine the … Read More
Iberdrola in £3 billion Scotland investment
Spanish energy giant Iberdrola are planning to invest £3 billion in the Scottish economy. Iberdrola, owner of British energy firm Scottish Power, have announced plans to invest £4 billion in the UK over the next two years, with around two thirds of the total going to Scotland. First minister Alex Salmond has hailed the investment package as “immensely important”. The … Read More
Government warned on raising renewables target
Government advised to focus on hitting current renewables targets, not raise them. The Commitee on Climate Change (CCC) has urged the new coalition government to stay focused on hitting its current target of 15% renewable energy by 2020. They say this current target is adequate enough to help reduce the country’s carbon budgets, and does not need either increase or … Read More
Ofgem to probe four of the big six
Energy regulator Ofgem launching investigation into mis-selling of contracts to customers RWE Npower, Scottish and Southern Energy, Scottish Power and EDF Energy are all to be put under the microscope of energy industry regulator Ofgem. The probe will determine whether these four companies are complying with obligations that were brought in by Ofgem last October regarding the mis-selling of energy … Read More
Thousands of businesses face CRC scheme fines
Companies that fail to register in time could be hit with an instant £5,000 fine The deadline to register for the government’s new CRC Energy Efficiency Scheme is approaching fast, but over 3,000 of the largest UK businesses have still not yet registered, and could face fines of up to £45,000. As detailed on our CRC Energy Efficiency Scheme page, … Read More
Gulf Oil spill has cost BP 3.8 billion pounds
BP says they have spent nearly four billion pounds since April, when the Deepwater Horizon rig exploded in Mexico. The staggering sums have accumulated in scarcely three months since the disaster. BP attribute the majority of the sum to their initial spill response, namely the 31,000 people deployed in the numerous containment attempts. The gushing oil well was finally stopped … Read More
Profits rise 98% at British Gas
British Gas profits show a 98% rise in first half of 2010 Centrica have announced that British Gas made operating profits of £585 million for the first half of the year. Centrica, parent company of British Gas also released their profit increase of 65% to £1.56 billion Being Britain’s largest domestic energy supplier, supplying power to half of UK households … Read More