via guardian.co.uk
Wednesday, 6 June 2012
Tuesday, 5 June 2012
£8bn green investment to create total of 8000 jobs
The table, compiled by the Department for Energy and Climate Change (DECC), currently puts Scotland second behind Yorkshire with confirmed announcements to date of £1.7bn, creating 4411 jobs.
Yorkshire, said DECC, has so far attracted the greatest amount of investment in renewables – £1.9bn, with another £1.8bn in the pipeline.
However, DECC pointed out that – in terms of investment value – Scotland is about to see a huge injection of £8bn, adding another 3313 jobs to the 4411 people already employed in the industry north of the Border.
Forthcoming projects include a plan by Spanish firm Gamesa to invest up to £122 million in developing a new offshore wind hub at Edinburgh's Port of Leith.
DECC said in the financial year to April, renewable energy firms unveiled plans to invest almost £7bn across the UK, supporting 20,848 jobs.
Last year, Scotland produced a record amount of renewable electricity, amounting to more than a third of its gross domestic consumption.
This exceeded the Scottish Government's 2011 target of 31%.
Friday, 1 June 2012
Coal use in UK reaches six year high
Coal use in the UK reached a six year high at the beginning of the year, according to reports. Government statistics released by DECC yesterday show coal accounted for 46% of power production in the first quarter of 2012.
The UK’s trade body said the figures suggest the out of favour fossil fuel is still alive and kicking in Britain because it’s cheaper than gas.
David Brewer, Director General for CoalPro told ELN: “Coal is the cheapest fuel around, cheaper than gas at the moment, quite why I don’t know. Gas has been expensive for some time.”
Future of UK #nuclear power hangs in balance
The future of nuclear power in the UK hangs in the balance after it emerged that crucial government funding deals could break EU law.
Industry insiders stress that state subsidies, which guarantee financial returns for companies that invest in the technology, are essential to ensure new power stations are built – but energy firm Centrica has reportedly warned proposals to guarantee energy prices could be hampered by EU state aid regulations.
Read more: http://www.thisismoney.co.uk/money/news/article-2151494/Future-UK-nuclear-pow...
Martin Lewis sells MoneySavingExpert.com for £87m
via bbc.co.uk
High-profile personal finance commentator and campaigner Martin Lewis has sold his MoneySavingExpert.com website for up to £87m.
It is being bought by MoneySupermarket.com which runs an online price comparison service.
Martin Lewis will remain as editor-in-chief of MoneySavingExpert, which will retain its editorial independence via an agreed editorial code.
The deal will need to be approved by the Office of Fair Trading (OFT).
Martin Lewis said: "This is great news for MoneySavingExpert.com and its users, ensuring, with or without me, the site will be around for many years to come, maintaining our ethos of 'cutting your costs and fighting your corner'.
"MoneySavingExpert.com has become part of people's daily lives, far bigger than the man who founded it, and now is the right time for it to stand on its own two feet."
Under the terms of the deal, Mr Lewis, who started his website in 2003, will receive an initial £35m plus shares in MoneySupermarket.com worth £25m.
Geothermal #energy 'could heat all homes'
via telegraph.co.uk
Deep geothermal energy could be exploited across the UK, with “hot spots” including Cornwall, East Yorkshire, Hampshire, Northern Ireland and Scotland, according to the study for the Renewable Energy Association (REA).
But the current subsidies on offer for geothermal energy are not enough to attract international investment that can develop the industry and create thousands of jobs, the report by engineering consultants Sinclair Knight Merz found.
Deep geothermal systems can generate electricity from water heated far underground to create steam that drives turbines. They could supply almost as much power as nine nuclear reactors, the report found.
The power source could also supply enough heat directly to warm all the UK’s homes and buildings, although the REA admits the infrastructure is not in place to deliver the heat to where it is needed. However it could be developed close to areas of large heat demand such as hospitals.
The REA believes geothermal has significant potential as a “baseload” electricity source, which can be exploited as a backup to the more variable wind power and adjusted to meet electricity demand, as well as providing heat.
New Look aims to slash energy costs with LED lighting
via edie.net
As part of the project, electrical supplier Rexel will upgrade New Look's existing halogen lamps to LED lighting, which will last-longer and produce less light heat. This is expected to result in air conditioning savings and generate return on investment in 15 months.
An asset audit of each new Look site will be conducted by Rexel to identify the best energy saving approach and enable the right products to be fitted on each site efficiently.
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