The International Energy Agency (IEA) has said the current high price of oil is beginning to affect demand. The IEA has said the global demand for oil has been slowing over the last few months, due to very high prices. Despite their concerns, the IEA did not change it’s global oil demand growth forecast, which is at 1.4 million barrels … Read More
Oil prices at two and a half year highs
Oil prices have risen to a two and a half year high due to supply concerns and the strength of the dollar The drop in the strength of the dollar means that other commodities such as gold and silver have also risen in price. Other commodity prices are also on the increase, such as food, metal and cotton.
Wind farms less efficient than expected
A study into the efficiency of wind farms has revealed that they run at a much lower capacity than previously thought. The study, supported by Scottish conservation charity The John Muir Trust, found that wind farms are producing less than 10% capacity for more than a third of the two year study. The study also found that low output also … Read More
UK nuclear plans delayed after Fukushima
A decision to approve designs for Britain’s next generation of nuclear plants has been delayed for a safety review The workers at the nuclear power plant in Fukushima are still fighting to contain radiation after the earthquake and tsunami destabilised its reactors, designed with withstanding natural disasters in mind. In an attempt to incorporate any lessons learned from the crisis … Read More
Businesses want CRC scheme axed
45% of business energy customers say the government’s CRC scheme is just another name for tax A survey conducted for npower has found that nearly half of business energy customers believe the Carbon Reduction Commitment Energy Efficiency Scheme (CRC) is unnecessary, with over a quarter thinking it will not help the UK reach its carbon reduction targets. The CRC scheme … Read More
Chris Huhne has talks with oil companies
The Energy Secretary yesterday met with the major oil companies to discuss the new taxes on oil and gas extraction in the North Sea Executives from the big oil companies are said to have had “Full and Frank discussions” with Chris Huhne, in a bid to get their concerns over last week’s budget recognised. They have warned that tens of … Read More
DECC sets smart meter roll-out strategy
The Department of Energy and Climate Change (DECC) set out the smart meter roll-out strategy yesterday. In a press release published yesterday, The DECC has outlined the strategy and time scale for the introduction of smart meters in every UK home by 2019. Starting in 2014, and taking 5 years to complete, 53 million smart meters are to be installed … Read More
Britain falls 10 places in green rankings
The UK has fallen from third place to thirteenth place in the green investment rankings According to rankings published yesterday by The Pew Charitable Trust, Britain has significantly faltered in its push to be a major player in global renewable energy. Britain’s 13th place means the UK is behind developing nations such as Brazil (6th) and India (10th).
Is Ofgem really clamping down on suppliers?
Are the new rules laid down in the energy regulator’s latest review really as tough as they seem? The latest Ofgem review has lead them to announce various new measures designed to clean up the domestic and commercial energy markets. The review was announced in November 2010, when it was deemed that the energy suppliers were making too much profit.
Price hike warnings will follow Ofgem review
Suppliers must now warn customers before raising prices, following Ofgem’s review of the energy industry. Last week Ofgem announced their completion of a review of the energy industry and promised some changes to the way suppliers operate. Following the announcements last week, Ofgem has published a review today requiring domestic energy suppliers to give a 30 day warning before raising … Read More