Utilities & Clean technology Correspondent, London
Adveith's Feed
Feb 24, 2012

Scottish referendum plan ups investment risk -SSE

LONDON, Feb 24 (Reuters) – Energy firm SSE
warned that plans for a referendum on Scotland’s independence
from England have increased investment risk, calling into
question nearly 1 billion pounds of potential energy investment
from the second-biggest Scottish company.

SSE, one of Britain’s big six energy suppliers, said on
Friday existing projects in Scotland would continue as planned,
though referendum plans had increased risks surrounding new
investments.

Feb 23, 2012

Iberdrola, Centrica hit by consumer chill

MADRID/LONDON, Feb 23 (Reuters) – Two of Europe’s
biggest power companies felt the chill on Thursday of depressed
demand from customers struggling with austerity and fragile
economies.

Iberdrola, Spain’s largest utility, cut 2012 targets after
growth in Brazil and expansion into markets with regulated
tariffs barely offset weakness in its home market and the UK,
where it owns Scottish Power.

Feb 23, 2012

Iberdrola, Centrica hurt by struggling consumers

MADRID/LONDON, Feb 23 (Reuters) – - Spain’s Iberdrola
and Britain’s Centrica posted 2011 results
marred by pressure on their downstream energy businesses, as
consumer demand remained weak in both countries’ fragile
economies.

Spain’s largest power utility cut 2012 targets after a
disappointing set of full-year numbers showed its expansion into
regulated markets and renewables had failed to offset distress
in its liberalised distribution business.

Feb 23, 2012

Centrica sees upstream business driving growth

LONDON, Feb 23 (Reuters) – British utility Centrica
expects to deliver improved growth this year helped by
higher profits from its upstream oil and gas business, after
lower consumption at its supply business pegged back growth in
2011.

Centrica, which owns Britain’s biggest household energy
supplier British Gas, on Thursday said full-year adjusted
operating profit was flat year-on-year as higher commodity
prices and mild weather drove down power use in Britain.

Feb 22, 2012

Rothschild, Prince of Wales invest in green start-up

LONDON, Feb 22 (Reuters) – The Prince of Wales’
private estate and financier Jacob Rothschild are among a group
of investors who plan to invest more than 65 million pounds
($103 million) in a clean technology start-up focused on
producing energy from organic waste matter.

The new company, Tamar Energy, will develop a network of
over 40 anaerobic digestion plants to generate 100 megawatt of
green electricity over the next five years, the consortium said
on Wednesday.

Feb 22, 2012

Rexam to sell personal care unit, return cash

LONDON, Feb 22 (Reuters) – Europe’s largest drinks can
maker Rexam put its underperforming personal care
business up for sale and said it would look to return cash to
shareholders, sending its shares to their highest level in
nearly four years.

The British firm, which also reported full-year profits
largely in line with expectations on Wednesday, said strength in
its core beverage cans business offset continued weakness at
plastic packaging, which includes the personal care and
healthcare operations.

Feb 21, 2012

Drax scraps biomass plant, wants higher subsidies

LONDON, Feb 21 (Reuters) – Britain’s coal-fired power
producer Drax has scrapped plans to build a dedicated
biomass plant on its site in North Yorkshire, but said it was
ready to invest in biomass-fuelled power generation if given
appropriate regulatory support.

The company, which also reported a smaller-than-expected
drop in full-year core earnings on Tuesday, said state support
levels for using only biomass in power generation were still too
low. High costs of transporting fuel to its inland site also
contributed to the decision to abandon one of its biomass
projects, it said.

Jan 20, 2012

China buys into Thames Water as UK courts investors

LONDON, Jan 20 (Reuters) – China’s $410 billion
sovereign wealth fund has bought a minority stake in London
water supplier Thames Water in an early sign that concerted
efforts to drum up foreign investment in Britain’s ailing
economy may be paying dividends.

British finance minister George Osborne was in Asia this
week and Prime Minister David Cameron last Friday visited Saudi
Arabia as part of a drive to lessen dependence on a bruised
banking industry and trade with the crisis-hit euro zone.

Jan 13, 2012

British Gas and SSE to cut energy bills

LONDON (Reuters) – Two of Britain’s biggest utilities, Centrica and SSE, said on Thursday they would cut energy prices, a day after EDF Energy became the first of the UK’s ‘big six’ energy suppliers to bring down tariffs.

SSE said it would cut prices of household gas by 4.5 percent from March 26 and extend its commitment to cap household electricity and gas prices by another two months to October.

Jan 13, 2012

Corrected – British Gas, SSE to cut energy bills

LONDON (Reuters) – Two of Britain’s biggest utilities, Centrica and SSE, said on Thursday they would cut energy prices, a day after EDF Energy became the first of the UK’s ‘big six’ energy suppliers to bring down tariffs.

SSE said it would cut prices of household gas by 4.5 percent from March 26 and extend its commitment to cap household electricity and gas prices by another two months to October.

    • About Adveith

      "I moved to Reuters' London bureau in February to cover green technology and UK utilities after a stint in Bangalore. In four years with Reuters, I have covered some of the biggest utilities and clean technology companies in the United States and Britain, from bureaus in London, Bangalore and, briefly, New York. I have also been a key part of two of the company’s biggest headline news operations – in Bangalore and London - since 2008, sending fast news alerts on the biggest companies on both sides of the Atlantic. I enjoy writing about sports, and occasionally contribute to Reuters' sports blog, ..."
      Hometown:
      New Delhi
      Joined Reuters:
      May 2008
      Languages:
      English, Hindi, Malayalam
    • More from Adveith

    • Contact Adveith

    • Follow Adveith