News May 2013

11 May 2013

New Nukes

The new Energy Minister Michael Fallon has told Channel 4 News that the push to build new nuclear reactors is on course.

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10 May 2013

Energy Bill

The problems facing the Government’s plan to reform the UK’s electricity market go well beyond the departure of two of the limited number of civil servants who actually understand the proposals. The reality is that the Government is losing its appetite for a scheme which is liable to disintegrate under the weight of its own complexity. The real problem is that the plans freeze the system in aspic at a time when the market and new technology are producing …

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9 May 2013

Utilities

Peter Atherton: Britain is playing Russian Roulette with its energy policy – and it is shareholders in the utility companies who are likely to get shot. Several events could bring an energy crisis to a head. Wholesale prices could rise if the market expects short-term supply problems, while longer-term shortages threaten actual power cuts. Meanwhile, rising energy bills for consumers or profits for the energy companies could become politically unacceptable, forcing the Government to renege on its policy commitments to …

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8 May 2013

Energy Supplies

Jonathan Stern: Why is it necessary for those writing about the future UK energy situation to refer to “the lights going out”? The outcome is likely to be far less dramatic. It’s quite correct that a great deal of old coal and nuclear capacity will be retired over the next few years. For the rest of this decade, that will be replaced by as much renewables as can be built (mostly wind) and gas. Most of the gas-fired power …

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7 May 2013

Hinkley

The chief executive of EDF Energy, a unit of Electricite de France (EDF.FR), will leave Britain if the French company’s 14 billion pound Hinkley Point reactor project collapses, U.K. daily The Times reported Monday without citing specific sources. Vincent de Rivaz, the longest-serving boss of Britain’s Big Six energy companies, has staked his credibility on getting the plan to build Britain’s first new reactors for decades off the ground, The Times wrote. However, the chances of the project going ahead …

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6 May 2013

Hinkley

The chief executive of EDF Energy will leave Britain if the French company’s £14 billion Hinkley Point reactor project collapses. Vincent de Rivaz, the longest-serving boss of Britain’s Big Six energy companies, has staked his credibility on getting the plan to build Britain’s first new reactors for decades off the ground. However, the chances of the project going ahead are receding, with EDF Energy and the Government in a stand-off over the level of subsidies — funded by levies on …

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5 May 2013

Energy Costs

Apocalyptic predictions are circulating about the size of electricity bills in 2030 if the move to green power goes ahead. There is no need for them to come true. The UK’s energy policy is not “plausible” and a “crisis” is inevitable. That is the view of Peter Atherton, a respected utilities analyst who works for Liberum Capital, an investment bank in the City. Atherton is convinced that successive UK governments have grossly underestimated the engineering, financial and economic challenges …

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4 May 2013

Hinkley

Deal between EDF and government for £10bn nuclear power station could come as early as next week. A deal between the government and French utility firm EDF giving the go-ahead to the construction of the £10bn Hinkley Point C nuclear power station is expected as early as next week, according to separate sources close to the negotiations. This comes despite public comments this month by EDF chief executive Henri Proglio casting doubt on the timescale for a deal, and last …

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3 May 2013

Hinkley

The National Trust of Ireland has begun a legal challenge against the UK government over its decision to approve a new nuclear plant in England. The plant at Hinkley Point in Somerset was granted planning permission by the Energy Secretary, Ed Davey, last month. However, the trust (known as An Taisce in Irish) has said the Irish people should have been consulted before the UK government granted approval. An Taisce wants a judicial review at the High Court in London. …

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2 May 2013

Low Carbon Investment

More of the funds held by institutional investors would be invested in energy projects if there was a clear EU policy about how to deliver secure, affordable and low carbon energy, says the House of Lords EU Sub-Committee for Agriculture, Fisheries, Environment and Energy in its report, published today. Following an eight-month long inquiry, during which the Committee heard from a number of individuals and organisations including the European Commission, the Secretary of State for Energy and Climate …

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