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....Gardiner, who joined the company two years ago, said he would build on Thompson’s legacy. “The changes we are seeing in the UK energy sector are unprecedented and we have an opportunity to thrive while doing the right thing for the UK energy market,” he said. ... [Read full article on Guardian ]
Thursday 21st of September 2017 02:08:17 PM
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Drax boss Dorothy Thompson to step down after 12 years image
Source : Guardian [Read Article] Thursday 21st of September 2017 02:08:17 PM
....Gardiner, who joined the company two years ago, said he would build on Thompson’s legacy. “The changes we are seeing in the UK energy sector are unprecedented and we have an opportunity to thrive while doing the right thing for the UK energy market,” he said. ...
UK windfarms cheaper than Hinkley Point, experts claim image
Source : Guardian [Read Article] Sunday 10th of September 2017 11:16:29 AM
....The results of Monday’s auction could ignite a debate over UK energy policy, and whether the Conservatives should rethink their long-standing plan for a new fleet of nuclear power stations to replace ageing reactors and coal plants, which are being phased out. Greenpeace said the low prices would mark “a huge moment for the UK energy sector”. ...
North Sea oil and gas sector losing thousands of jobs, survey shows image
Source : Guardian [Read Article] Wednesday 6th of September 2017 05:01:22 AM
. Britain’s North Sea energy sector is still shedding thousands of jobs despite the recovery in the oil price, according to new figures. ...
Should Oxford and the V&A take millions from this Putin pal and Trump donor? image
....The cash from the sale of TNK-BP pushed him to the top spot of the Sunday Times rich list in 2015. By this stage Access had already diversified beyond Russia and the energy sector. ...
Meet the UK energy company that will give profits back to customers image
Source : Guardian [Read Article] Friday 1st of September 2017 06:04:36 AM
.... And, since the big six remain heavily invested in existing energy infrastructure, their hold over the sector has slowed the shift towards renewables and smart tech, he adds. “The quicker we can reduce their dominance over the energy sector as a whole, the quicker we can move towards a cleaner, more decentralised energy system that doesn’t involve huge amounts of money being sucked upwards and gobbled up by relatively few shareholders,” says Wakefield. ...
Household batteries will be key to UK's new energy strategy image
Source : Guardian [Read Article] Monday 24th of July 2017 01:16:43 PM
....But some industry watchers said that while the changes were necessary, they risked creating a two-tier energy system of haves and have-nots, if adequate protections were not put in place. Jon Ferris of Utilitywise said: “Today’s announcements will be transformational for the energy sector, but are not a panacea for the challenges of maximising energy productivity and accommodating increasing renewable generation. ...
Drop in wind energy costs adds pressure for government rethink image
Source : Guardian [Read Article] Sunday 23rd of July 2017 05:03:35 PM
....However, Anderson said he saw the report, due in October, as a good opportunity. “I would find it surprising if anybody else doing a costs review of the energy sector comes to a fundamentally different argument [to the Arup report],” he said. ...
We can only address pay imbalances if we can see them | Nils Pratley image
Source : Guardian [Read Article] Wednesday 19th of July 2017 06:43:44 PM
.... The ambition to achieve annual top-line profits of £425m by 2025 still looks credible. If it’s achieved, Drax still won’t be loved – but it would qualify as one of the trickier turnarounds in the energy sector. ...
Fuel savers image
Source : BBC [Read Article] Wednesday 5th of July 2017 11:12:32 PM
....The goal is to keep energy consumption low at a facility that will be one of the largest data centres in Singapore once it is built. "It is a very hot topic," says Prof David Shipworth at University College London, referring to the rise of AI technologies in the tech and energy sectors. ...
Hinkley Point C: the government should start planning alternatives | Nils Pratley image
.... Ministers need to draw up a proper contingency plan – starting now. This is how political U-turns are performed in the energy sector – not with a visible yank on the steering wheel but with some vague words from the secretary of state designed to disguise the manoeuvre in hand. ...
UK on track to miss carbon emissions target due to stalled energy policy image
....The UK’s ambitious target of slashing carbon emissions by more than half within 13 years is at risk because of government dithering on energy policy, industry professionals have warned. A survey by the Energy Institute, the professional body for the energy sector, has found that four fifths of its members believe the UK is currently on track to miss the 2030 goal. ...
UK energy industry cyber-attack fears are 'off the scale' image
Source : Guardian [Read Article] Sunday 25th of June 2017 04:20:06 PM
. Concern over the threat posed by cyber-attacks on power stations and electricity grids is “off the scale” in the UK energy sector, according to a leading industry figure. ...
Mersey feat: world's biggest wind turbines go online near Liverpool image
Source : Guardian [Read Article] Wednesday 17th of May 2017 05:30:46 AM
.... He is now a turbine supervisor, looking after the small teams that service the turbines. “I don’t even think there was a renewable energy sector when I was younger,” he said. ...
Brexit and energy: does ‘taking back control’ mean losing power? image
Source : Guardian [Read Article] Saturday 6th of May 2017 02:59:06 PM
....“We are seeing the beginnings of a highly interconnected European market and there are benefits to the UK of being part of that, so one hopes that interconnectedness will not be affected,” she said. From the power that keeps Britain’s homes lit to the crude that keeps its cars running, here is how Brexit could affect the energy sector:. ...
General Election 2017: Energy bill cap 'will hit consumers' image
Source : BBC [Read Article] Monday 24th of April 2017 07:29:03 AM
....Plans by the Conservative Party for a cap on household energy bills will lead to fewer benefits for consumers, says one of the UK's biggest providers. A cabinet minister said the Tories planned to intervene in the energy sector "to make markets work better". ...
Tory price promise image
Source : BBC [Read Article] Sunday 23rd of April 2017 01:59:35 PM
....4bn. But that report also said it had been found that previous market interventions in the energy sector had contributed to lower switching rates and "softening competition". ...
UK unprepared for surge in electric car use, thinktank warns image
Source : Guardian [Read Article] Wednesday 19th of April 2017 11:01:11 PM
.... “We need to actively govern how we use these technologies,” said Benton. A National Grid spokesman said: “Growing use of solar power and electric cars will change the way the energy system is managed, but National Grid has been consistently dealing with evolution in the energy sector for decades, and these latest changes also present great opportunities. ...
Goldman Sachs and Bank of America see profits jump image
Source : BBC [Read Article] Tuesday 18th of April 2017 11:54:29 AM
. Two major US banks have reported increased profits for the first quarter of the year, amid higher interest rates and an energy sector rebound. ...
Employment is high, skills are in demand. So why is pay still not rising? | Larry Elliott image
....Perhaps more significantly, supermarkets are operating in a highly competitive market that will be made even more challenging by rising inflation. In the energy sector, the lack of competition means EDF can announce it is increasing energy bills for 1. ...
A budget in the shadow of Brexit leaves Hammond short of choices image
Source : Guardian [Read Article] Saturday 4th of March 2017 07:11:34 PM
.... She says the government overreached itself with a demand in January that the energy market become independent of incentives and government funding. Making the case for preserving green subsidies, she says: “This will be exceedingly difficult to achieve, as any measures to increase taxes on the energy sector is likely to drive up wholesale prices, which will likely have a knock-on effect to retail prices and be a deeply unpopular measure with business and consumers. ...
A budget in the shadow of Brexit leaves Hammond short of choices image
Source : Guardian [Read Article] Saturday 4th of March 2017 04:04:00 PM
.... She says the government overreached itself with a demand in January that the energy market become independent of incentives and government funding. Making the case for preserving green subsidies, she says: “This will be exceedingly difficult to achieve, as any measures to increase taxes on the energy sector is likely to drive up wholesale prices, which will likely have a knock-on effect to retail prices and be a deeply unpopular measure with business and consumers. ...
Energy sector faces struggle to find the female engineers of the future image
Source : Guardian [Read Article] Saturday 28th of January 2017 04:00:04 PM
....While the lack of female chief executives in the UK is a problem, the lack of female engineers is an even bigger concern, as Dorothy Thompson, chief executive of Drax group, knows only too well. The head of the UK’s largest power station is grappling with the question of how to attract more women into the energy sector. ...
Water, water everywhere: utility firms get green light to sell beyond local regions image
....The industry has a spent the last year preparing for the changes, and private company Market Operator Services Ltd (MOSL) has been set up to create the IT infrastructure to enable switching to happen. Consumer groups will be hoping that it is a success and encourages the government to allow consumers to also switch water suppliers – as has become the norm in the energy sector. ...
National Grid to avoid being broken up image
Source : BBC [Read Article] Thursday 12th of January 2017 09:55:39 AM
....But National Grid's chief executive, John Pettigrew, had argued against a break-up, saying that he was not convinced that creating a separate system operator would be beneficial to customers. The company had also warned of the potential disruption to the energy sector and the risks to security of supply that a break-up could bring. ...
Pound falls to almost $1.20 but UK industrial output recovers image
Source : Guardian [Read Article] Wednesday 11th of January 2017 10:36:06 AM
....But the weak pound drove up the cost of imports and left Britain with a record trade deficit with the EU, months before the government triggers article 50 to begin the process of leaving the bloc. The rise in manufacturing production and more buoyant energy sector failed to mark a recovery from poor figures for October and September, and push the broader measure of industrial output into positive territory over a three-month period. ...
China to invest £292bn into renewable fuel by 2020 image
Source : Guardian [Read Article] Thursday 5th of January 2017 08:27:57 AM
....5tn yuan (£292bn) into renewable power generation by 2020, the country’s energy agency has said, as the world’s largest energy market continues to shift away from dirty coal power towards cleaner fuels. The investment will create more than 13m jobs in the sector, the National Energy Administration said in a blueprint document that lays out its plan to develop the nation’s energy sector during the five-year 2016 to 2020 period. ...
Renewables investment in UK will fall 95% over next three years – study image
Source : Guardian [Read Article] Wednesday 4th of January 2017 01:31:36 PM
....RenewableUK, which represents the wind power industry, said the government needed to set out its vision on energy to enable investor confidence. Emma Pinchbeck, the group’s executive director, said: “The energy sector is changing. ...
Rolls-Royce exploited US sanctions loopholes to trade with Iran image
Source : Guardian [Read Article] Wednesday 21st of December 2016 10:30:15 AM
....US sanctions were first imposed after the Iranian revolution in 1979. In 1995, the then US president, Bill Clinton, signed into law tough measures specifically banning companies from dealing with Iran’s energy sector. ...
FTSE 100 falls despite boost for oil shares image
Source : BBC [Read Article] Monday 12th of December 2016 09:03:48 AM
....Opec announced last month that it would be cutting its own production. Outside the energy sector, shares in Marks and Spencer rose 1. ...
Manufacturing slump shows economy is more imbalanced than ever image
Source : Guardian [Read Article] Wednesday 7th of December 2016 11:53:33 AM
.... The weak performance of manufacturing was compounded by North Sea oil output falling as a result of routine maintenance. It meant that industrial production, which includes the offshore and onshore energy sectors and mining and quarrying as well as the output from factories, was down by 1. ...
Hull's Siemens factory produces first batch of wind turbine blades image
Source : Guardian [Read Article] Thursday 1st of December 2016 06:27:34 PM
....However, Clark said investors should be reassured by the government’s actions since he was appointed in July, and what he called the administration’s “zeal” for clean energy. “There’s no disguising, no ambiguity whatever, about the centrality of clean energy that we see not just to our commitments on climate change, vital though they are, and the energy sector, but to industry more generally,” he said. ...
Rolls-Royce cuts 800 more jobs from its marine division image
Source : BBC [Read Article] Thursday 1st of December 2016 02:32:20 PM
....Rolls-Royce is to cut 800 more posts from its marine division, after announcing 1,000 job cuts last year. The firm, which depends on oil and gas-related customers for about 60% of its marine business, blamed the weakness in the energy sector for the cuts. ...
GB Energy's collapse to hit 160,000 households with higher bills image
Source : Guardian [Read Article] Sunday 27th of November 2016 06:35:39 PM
.... There are now 41 companies competing for British households, but the business models of the smaller entrants are now being tested as electricity and gas prices start to rise – partly because of the devaluation of sterling since the Brexit vote. In an interview earlier this year, Watson, a former submariner who worked in sales before moving into the energy sector, said it had been fortunate that wholesale costs had been low over the past couple of years. ...
'Life's hard at times' image
Source : BBC [Read Article] Tuesday 22nd of November 2016 03:59:10 AM
.... . People have struggled in Hull for decades, but now lives are improving after a huge effort to rebuild the economy around the renewable energy sector. ...
Stocks close at record highs as traders keep betting on Trump business boom image
....Stock markets hit record highs on Monday as traders continued to bet on a Trump-backed boom for business. Rising oil prices drove gains in the energy sector, where the president-elect has promised to roll back regulations, and the S&P energy index gained 2. ...
Drought, floods and water stress cost companies $14bn image
Source : Guardian [Read Article] Tuesday 15th of November 2016 05:01:07 AM
.... Almost three-quarters of IT companies responded, followed by the consumer staples industry, which includes food and beverage companies. The energy sector lagged behind, with less than one-third of companies responding (just 32 out of 109 firms). ...
National Grid looks to benefit from Trump infrastructure plan image
Source : Guardian [Read Article] Thursday 10th of November 2016 05:02:29 PM
.... “What we did see [on Thursday] from the Trump administration is positive statements on the need for investing in infrastructure. If that flows through into policy, that could be good for the energy sector. ...
Caterpillar cuts up to 250 jobs in Northern Ireland image
Source : BBC [Read Article] Thursday 1st of September 2016 02:31:45 PM
....5bn by the end of 2016. This followed a collapse of commodity prices which affected its key customers in the mining and energy sectors and a reduction in sales revenues. ...
Households could get fracking payments under government plans image
Source : BBC [Read Article] Sunday 7th of August 2016 03:37:51 AM
....Greenpeace said the government had "tried to sweeten the fracking pill with cash payments before, and it didn't work". "If Theresa May wants to show the UK is open for business, she should reverse the policies that have harmed our vibrant clean energy sector, and back the technologies that can supply cheap, home-grown energy for decades to come," said Greenpeace UK's chief scientist Dr Doug Parr. ...
Energy customer battles with yo-yo-ing direct debits and over-payment confusion image
.... . Chief ombudsman at Ombudsman Services Lewis Shand Smith says: “As the sole ombudsman for the energy sector 89 per cent of cases are resolved within six weeks and 99 per cent within two months. ...
Energy bills: plans for blanket ceiling on how much firms can charge ditched image
....Doug Stewart, chief executive of Green Energy UK, which has been operating in Britain for 15 years, said: “The CMA investigation has been a waste of taxpayers’ money and is unlikely to re-establish consumer trust in the energy industry. “Instead the constant toing and froing of the CMA consultation and their suggestions have possibly led to more mistrust in the energy sector. ...
CMA energy market report expected to whip up storm of criticism image
Source : Guardian [Read Article] Thursday 23rd of June 2016 06:13:27 PM
....Juliet Davenport, chief executive of Good Energy, said it was ridiculous that these sites operate without constraints but suppliers come under licensing arrangements. “We are trying to rebuild trust in the energy sector and encourage consumers to change to lower cost providers. ...
Five threats to American prosperity tie the hands of its banker-in-chief image
....“US manufacturing is going through its toughest period since the financial crisis,” he said. “The decline of the energy sector, the strong dollar, weak global demand and growing concern about the presidential elections are all playing a part in restricting activity. ...
Shell upgrades savings from BG deal image
Source : Guardian [Read Article] Tuesday 7th of June 2016 07:47:13 AM
....5bn. The deal, completed in February, was the biggest in the energy sector for a decade. ...
Sterling swings as polls suggest UK heading for EU exit image
Source : Guardian [Read Article] Monday 6th of June 2016 03:47:24 PM
....The boss of Hitachi has become the latest business leader to urge Britain to vote to remain in the EU. Chairman Hiroaki Nakanishi said the Japanese firm, which has its global rail hub in London, had invested over a billion pounds in the UK’s rail and energy sectors. ...
British Airways owner IAG falls on outlook worries image
Source : Guardian [Read Article] Monday 6th of June 2016 10:24:57 AM
.... Leaving aside geopolitical shocks, our industry model suggests that the underlying drivers of airline revenue are the economy (nominal GDP) and the oil price (with a lag). The economic backdrop in Europe and the US is perhaps best described as stagnant, and there are significant headwinds in emerging markets with dependency on the energy sector (Brazil, West Africa, Russia). ...
UK's attractiveness for renewables investment plummets to all-time low image
....Ben Warren, energy corporate finance leader for EY, said the results showed the government had a long climb if it wished to restore the UK’s leadership in gaining new energy investment. “A non-committal approach is putting the attractiveness of the UK’s renewable energy sector on a landslide. ...
UK's attractiveness for renewables investment plummets to all-time low image
....Ben Warren, energy corporate finance leader for EY, said the results showed the government had a long climb if it wished to restore the UK’s leadership in gaining new energy investment. “A non-committal approach is putting the attractiveness of the UK’s renewable energy sector on a landslide. ...
Oil giants should ditch high-cost projects, thinktank says image
Source : Guardian [Read Article] Wednesday 4th of May 2016 11:01:35 PM
....“A simple carbon sensitivity analysis shows that oil majors pursuing volume at all costs can deliver lower shareholder value than a more disciplined approach. That is why financial regulators need to make 2C stress tests standard practice for the energy sector to help avoid companies wasting capital,” said James Leaton, research director at Carbon Tracker, a non-profit financial thinktank. ...
RBS pulls back fossil fuel investments as green deals grow image
Source : Guardian [Read Article] Sunday 17th of April 2016 12:44:44 PM
....In the UK, 100% of the structured financing went to green energy projects. Overall sustainable energy lending doubled in 2015 to £1bn, which according to data from InfraDeals made RBS the largest lender to the UK renewable energy sector. ...
Clouds gather over solar power after golden years of success image
Source : Guardian [Read Article] Saturday 16th of April 2016 03:00:21 PM
....Last week a milestone was passed when it was revealed that, for the first time, the sun provided more UK electricity from photovoltaic panels than heavily polluting coal-fired plants over a full 24-hour period. Just under 30 gigawatt hours – or 4% of national demand – was met by solar, the latest in a series of records set by the wider renewable energy sector in recent months. ...
US creates 215,000 jobs in March image
Source : BBC [Read Article] Friday 1st of April 2016 12:39:38 PM
....The increase could allow a cautious Federal Reserve to raise interest rates gradually this year. The US is continuing to create jobs, despite a global economic slowdown and cheap oil prices which have hit the energy sector. ...
Britons working longer hours with no gain in productivity, study finds image
....More than 7,400 workers across the private and public sectors responded to the survey, which was conducted for Unions21, a mainly union-funded thinktank that aims to “provide an ‘open space’ for discussion on the future of the trade union movement and the world of work”. Shop workers made up the largest proportion of respondents, but many came from the energy sector, media and communications and central government. ...
Al-Jazeera to lay off 500 staff worldwide image
Source : Guardian [Read Article] Sunday 27th of March 2016 12:47:56 PM
....It has since scaled back its ambitions, announcing in January the closure of its American cable news channel, launched in October 2013, after consistently low ratings. The slump in oil prices, which has left crude selling at around $40 (£28) a barrel compared to more than $100 in mid-2014, has led Qatar to make cuts to other state-funded institutions, as well as laying off many workers in the energy sector. ...
Business News: MoneySupermarket, LSE, Vectura, Smiths Group image
Source : Daily Express [Read Article] Thursday 17th of March 2016 07:13:00 AM
.... . Underlying profit at its medical equipment business grew 4 per cent, but its oil and gas equipment and services operation’s profit was down 26 per cent as the sharp drop in oil prices hit the energy sector. ...
Surge in renewable energy stalls world greenhouse gas emissions image
Source : Guardian [Read Article] Wednesday 16th of March 2016 04:48:49 PM
....Falling coal use in China and the US and a worldwide shift towards renewable energy have kept greenhouse gas emissions level for a second year running, one of the world’s leading energy analysts has said. Preliminary data for 2015 from the International Energy Agency (IEA) showed that carbon dioxide emissions from the energy sector have levelled off at 32. ...
VIDEO: Are energy bills about to get cheaper? image
Source : BBC [Read Article] Thursday 10th of March 2016 07:36:38 PM
. Millions of low-income households could see power bills cut after a watchdog's report into the UK's energy sector. ...
Competition regulator's energy market plan 'will lead to junk mail deluge' image
....”. Roger Witcomb, head of the CMA investigation, insisted the “coherent and comprehensive package of reforms” would transform the energy sector. ...
Millions could see cut in energy bills image
Source : BBC [Read Article] Thursday 10th of March 2016 07:40:12 AM
UK factory output soars after three months of decline, official figures show image
.... The ONS considers the quarterly comparison a better guide to the underlying trend than one month’s data. Industrial production – which includes the North Sea, mining and energy sectors in addition to manufacturing – fared less well in January, posting a monthly rise of 0. ...
Solar energy pioneer Monica Oliphant on charting her own path in science image
....While the word “pioneer” gets bandied around a lot, it seems apt when talking to 75-year-old Oliphant. Recently named South Australia’s senior Australian of the year, her long and brilliant career was recognised last year when she was appointed an officer of the Order of Australia for her work in the renewable energy sector as a research scientist, particularly in solar photovoltaics and power generation. ...
If we get smarter, we won’t need so much power. Tell that to British Gas image
....The grid is also compromised by the twin jobs it has been allowed to carry on doing: balancing power demand and supply (except in Scotland); and running an energy transmission business. All of this is an extra problem at a time when an ideologically driven Conservative government has been undermining investor confidence in wider energy sector with a series of policy U-turns or attacks on solar and wind power. ...
Green investment bank could be snapped up by foreign buyers image
Source : Guardian [Read Article] Wednesday 2nd of March 2016 09:30:44 PM
....Doug Parr, policy director at Greenpeace, added: “A green investment bank that is privatised needs to have its green credentials written in stone. If it becomes just another bank with a good corporate and social responsibility officer, then it ceases to drive extra private capital investment into the green energy sector and becomes just another private sector competitor for green projects. ...
Life after oil: can Aberdeen rise again? image
Source : BBC [Read Article] Thursday 25th of February 2016 12:00:28 AM
....Just a couple of years ago, house prices in "the energy capital of Europe" were rising faster than in London. And the energy sector was so strong, that the impact of the global recession of 2008 was hardly felt. ...
US markets fall on bank and oil worries image
Source : BBC [Read Article] Tuesday 23rd of February 2016 10:44:22 PM
. (Close): Wall Street finished lower on Tuesday as oil prices slipped, leading investors to worry about banks' exposure to the energy sector. ...
Meggitt increases job cuts as markets toughen  image
Source : Telegraph [Read Article] Tuesday 23rd of February 2016 10:59:16 AM
.... . Meggitt supplies parts for civil and military aircraft such as brakes, seals and engine components, and also supplies the energy sector. ...
Fast-growing firms are helping Britain shine on the world stage image
Source : Telegraph [Read Article] Monday 22nd of February 2016 06:27:58 PM
.... . The oil price slump has hit many players in the industry hard but ROVOP, which works across the whole energy sector, including wind farms and power cables, has grown turnover from £15m to £17m year on year. ...
Geopolitics of oil takes new twist with Saudi-Russia deal image
Source : Telegraph [Read Article] Sunday 21st of February 2016 03:30:42 PM
.... That would certainly make sense. The lack of profitability across the US energy sector has seen the number of operational oilrigs fall from over 2,000 just a few years ago to 514 in mid-February. ...
Power of technology will transform the way that we deliver and use energy  image
Source : Telegraph [Read Article] Saturday 20th of February 2016 03:30:44 PM
. After 15 years at National Grid, including nearly 10 as chief executive, I am stepping down next month from a job I have loved and that has given me an opportunity to play a part in the huge changes in the UK energy sector. ...
Oil and gas producers ‘in distress’ as low oil price pain continues image
Source : Guardian [Read Article] Saturday 20th of February 2016 10:00:45 AM
....Companies on the distressed list are paying interest at 10 percentage points more than Treasury rates. Standard & Poor’s (S&P) says the energy sector accounts for around 31% of the $285bn total distressed debt in the US. ...
British Gas profits jump by 31% image
Source : BBC [Read Article] Thursday 18th of February 2016 07:25:52 AM
....He added that the wholesale costs were only part of the cost of a bill. With the energy sector in the midst of major competition probe, it's an awkward time for a big six supplier to be posting bumper results. ...

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