Prompt and curve prices continued to slide down on the UK gas market midday Tuesday as demand remains well below seasonal norms and crude oil contracts carry on with bearish sentiment due to macroeconomic growth concerns. "It is a similar picture to Monday on the UK NBP with nothing changing on a fundamental basis," a trader said. Both within-day and day-ahead gas contracts fell by about half a penny on market close Monday to 51.15 pence a therm and 51.30 p/th, respectively.
Wednesday, 3 August 2011
Tuesday, 2 August 2011
Green survey on gadgets in the home
IT’S hard to drag the kids away from the computer these days – unless dad’s got there first.
Fathers are the most gadget-crazy members of the family, says a study by Imperial College, London. But probably not when it comes to working the washing machine.
The survey, sponsored by energy supplier EDF, shows just how important household appliances and gadgets are in modern homes – one in 50 of which boast three fridges.
Ofgem Sets Out Proposals For UK Energy Transmission Price Controls
Britain's energy regulator Ofgem Tuesday published initial proposals for revenues it will allow the four energy transmission companies to recover from consumers from April 1, 2012 to March 31, 2013 under the one-year extension to the existing price control.
The proposals come as Ofgem prepares to implement the new RIIO price regime designed to deliver GBP30 billion investment in low-carbon energy infrastructure at lowest cost to consumers as Britain moves to meet climate targets and energy security goals.
Ofgem is extending the current transmission price control by one year so that it finishes at the same time as the 2008 to 2013 gas distribution price control.
The regulator decided to align the end dates of the two price controls so that it can implement the new RIIO model for regulating networks into the next transmission and gas distribution price controls at the same time.
The new RIIO price control will run for eight years from 2013 to 2021.
Germany Shows How Renewable Energy Should Be Done
Germany is doubling its efforts to be a renewable-energy power over the next 50 years, and it's expanding beyond just solar power. After the country put the kibosh on exploding solar installations by cutting feed-in tariffs (FIT), it has increased the FIT for biomass, geothermal, and offshore wind while simplifying solar rates. The wet blanket currently covering the German nuclear industry meant the country needed to find a way to push renewable-energy installations to meet national renewable-energy goals before plants began closing.
Monday, 1 August 2011
Shale gas fracking: UK government policy call
Shadow UK Energy Minister Huw Irranca-Davies has called for the UK government to devise a policy on shale gas.
Potential multi-million pound reserves lie under in south Wales but its claimed an extraction method called fracking causes pollution and could lead to earthquakes.
The Ogmore MP says the gas could help supply energy needs but must be handled safely.
The Ogmore MP says the gas could help supply energy needs but must be handled safely.
The government says attempts to drill for it must be environmentally viable.
Mr Irranca-Davies Davies told BBC Wales Country Focus programme that he will continue to put pressure on UK Energy Minister, Charles Hendry over the issue.
It comes after research by exploration companies found a potential £70bn of reserves in rocks deep under south Wales and numerous planning applications have been submitted for test drilling to be carried out.
Ikea buys Scottish wind farm
Ikea Group, the world’s biggest home-furnishings retailer, bought a wind farm in Scotland and plans to install 39,000 solar panels on its UK stores as part of a goal to get all of its energy from renewable sources.
Ikea bought a 12.3-mw wind farm in Huntly, northeast Scotland, from Good Energies Capital, chief sustainability officer Steve Howard said. That’s enough to cover 30% of Ikea’s UK electricity use. The solar panels, totaling 2.1 mw, will be fitted on 10 stores, providing an average of 5% of each shop’s power, he said.
The Huntly purchase adds to wind farms the company already owns in Denmark, France and Germany. By building up a renewables portfolio, Ikea is seeking to reduce its exposure to fluctuating energy prices, which cost the company 1.2 billion euros ($1.7 billion) to 1.5 billion euros a year, Howard said.
U.K. Factory Power Costs May Rise Up to 58% by 2030, DECC Says
Britain’s policies to curb emissions and spur investment into nuclear and wind to secure power supplies may raise electricity prices for factories by as much as 58 percent by 2030, according to a government study.
The U.K.’s Department of Energy and Climate Change published today an initial estimate of the costs of its policies on so-called energy-intensive users such as steel factories, cement works and paper mills. The biggest rise would come a scenario whereby natural-gas prices fall, the analysis on the government website shows. Price rises would be curbed to as little as 7 percent should gas prices remain unchanged, according to the analysis.
Natural gas is used to produce about half Britain’s electricity, so its cost is used as a proxy for power prices. The government is overhauling the electricity market and studying measures such as long-term contracts to give price certainty and help attract funds for offshore wind turbines, nuclear reactors and carbon capture and storage projects. A tax on emissions from fossil fuels, under the so-called carbon floor, is planned from 2013 as well as programs to drive energy efficiency such as its Carbon Reduction Commitment.
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