Our monthly analysis of the UK gas and power markets is now available on line for the month of April 2011. The service is intended to keep you up to date with all the major news in Europe’s gas and power markets. It is also designed to keep power executives focused on market activity in an easy to digest format.Read More: http://www.catalyst-commercial.co.uk/blog/latest-news/energy-market-report-apr11/
Tuesday, 5 April 2011
Monday, 4 April 2011
UK prompt gas falls LNG supply hits record
Near-term wholesale British gas prices fell as inputs from liquefied natural gas (LNG) terminals hit record highs on Monday, while curve contracts rose as oil markets rallied, traders said.
Combined inputs of gas from the terminals at Milford Haven in south Wales and Isle of Grain near London peaked at around 119 million cubic metres a day at around 0910 GMT on Monday, surpassing the previous record set on Jan. 21, 2011 when demand for gas was higher.
The huge quantity of gas being sent into the network, enough to meet about 40 percent of UK demand for Monday if the flow rate is sustained, helped drive prices for gas delivered on Monday down to 57.25 pence, compared with last week’s close of 61.20 pence, before firming to 58.80 pence at 1010 GMT.
Gas for Tuesday fell to 58 pence, with large flows from Britain’s LNG terminals and a long line of tankers queuing up to restock them offsetting low supplies through Norway’s Langeled gas pipeline.
http://www.lngworldnews.com/uk-gas-prices-down-lng-supply-reaches-record-high/
UK Energy supplier faces class action
Controversial energy company Business Energy Solutions is facing a class action from business customers who claim to have been misled into taking on hugely expensive energy contracts.Solicitor Christopher Newton, of Newtons Solicitors in Harrogate, North Yorkshire, told Financial Mail he had been contacted by several businesses unhappy about their dealings with BES and energy broker Commercial Power, both of which are owned by Andrew Pilley.
Last week, Newton successfully defended a hotel business in court against attempts by BES to disconnect it in a dispute over bills.
British Gas customers targeted in identity theft scam
The bogus offer of a refund comes in an email purporting to be from British Gas. One email headed “refund notification” said the recipient was due a refund of £722.80, but would need to fax copies of a passport or driving licence in order to receive it.
It said: “After the last annual calculation of your gas and electricity activity, we have determined that you are eligible to receive a refund of 732.80 GBP. Please submit the refund request and allow us 5-7 days in order to process it.
“Please fax the following 2 documents in order to have us process your request ... a legible, colour digital photograph or scan of both sides of your government-issued ID (eg driver’s permit or passport).”
Friday, 1 April 2011
IBM says inefficient IT hardware wastes a third of all a business's electricity
For every £1 spent on electricity in an organisation, 32p is wasted, according
to IBM. The computer manufacturer is urging the UK government to scrutinise the
energy efficiency of IT equipment as a way to cut public spending dramatically. An IBM white paper states: "40% of an average business's total energy bill is
eaten up by IT and information systems equipment. Changing the underlying
configuration and design of key devices could lead to substantial savings." According to IBM, datacentres usually consume approximately 40% of IT energy.
However 60% of IT's energy footprint is taken up by what IBM calls the
distributed environment. This covers everything from fax machines and photocopiers to mobile working equipment and voice communications. http://www.computerweekly.com/Articles/2011/03/30/246108/IBM-says-inefficient...
to IBM. The computer manufacturer is urging the UK government to scrutinise the
energy efficiency of IT equipment as a way to cut public spending dramatically. An IBM white paper states: "40% of an average business's total energy bill is
eaten up by IT and information systems equipment. Changing the underlying
configuration and design of key devices could lead to substantial savings." According to IBM, datacentres usually consume approximately 40% of IT energy.
However 60% of IT's energy footprint is taken up by what IBM calls the
distributed environment. This covers everything from fax machines and photocopiers to mobile working equipment and voice communications. http://www.computerweekly.com/Articles/2011/03/30/246108/IBM-says-inefficient...
Ireland is not exploiting renewable energy opportunities
Gregor Alexander, finance director of renewable energy company Airtricity, believes Ireland is not maximising its potential in the development of offshore wind and marine generation.
Addressing more than 400 delegates at the annual conference of the Irish Wind Energy Association at the Four Seasons Hotel, Dublin, Alexander said Ireland is being left behind in the development of offshore wind and marine generation.
"Returns on our Irish onshore wind farms are marginal. More attractive returns are available in the UK. Of even more concern is that Ireland is being left behind in the development of offshore wind and marine generation. These technologies offer considerable export and job opportunities but Ireland is not maximising them," he said.
Alexander believes that in order to optimise the renewable energy sector in Ireland, we must widen the interconnection plans to include not only the UK, but France, as well.
http://www.businessandleadership.com/sustainability/item/29153-ireland-is-not-exploiting/
German investors look to solar power and renewables for returns
Royal Bank of Scotland has seen a surge in demand from German investors for structured products linked to solar and renewable energy
The disaster at Japan's Fukushima nuclear power plant has sparked Europe-wide debate about the safety of nuclear power. And now Royal Bank of Scotland (RBS) in Germany has seen a revival in demand from investors for structures and indexes linked to solar and renewable energy.
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