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Jun 10, 2014

Price cut pressure mounts on UK energy firms as market costs plunge

LONDON, June 10 (Reuters) – Britain’s big energy suppliers
are coming under mounting pressure from consumer groups and
politicians to cut household power and gas bills after a sharp
drop in wholesale costs boosted the firms’ profit margins.

The country’s “big six” energy providers, which supply 96
percent of UK households, are being urged to tame rising energy
costs, and at least one lawmaker in Prime Minister David
Cameron’s Conservative Party has called on the government to act
swiftly to break up the energy companies.

May 21, 2014

UK carbon compensation plan in line with EU rules

May 21 (Reuters) – A British plan to compensate certain
energy-intensive industries for higher energy costs resulting
from its carbon price floor is in line with EU state aid rules,
the European Commission said on Wednesday.

Britain’s carbon price floor, which was raised in April to
9.55 pounds ($16.09) per tonne of carbon dioxide, is effectively
a tax on companies’ consumption of power produced from fossil
fuels and is aimed at reducing greenhouse gas emissions.

May 20, 2014

UBS slashes EU carbon price forecast on weak backloading effect

LONDON, May 20 (Reuters) – Swiss investment bank UBS
slashed its year-end EU carbon price forecast by 23
percent due to the weaker-than-expected market impact of the
bloc’s plan to cut the supply of carbon permits.

Analysts at the bank now predict front-year EU Allowance
(EUA) prices will end the year at around 10 euros per
tonne, down from a previous forecast of 13 euros.

May 16, 2014

At 3-year low, UK gas prices show no Russian supply fears

LONDON, May 16 (Reuters) – Wholesale spot British gas prices
fell to a three-year low on Friday as ample supply and warm
weather outweighed fears of possible cuts in Russian supply via
Ukraine.

Gas for delivery next week dropped to 43.80 pence per therm,
the lowest level since September 2011, as temperatures were
forecast to rise to more than 4 degrees Celsius above seasonal
averages, cutting into demand.

Apr 8, 2014

Energy companies need insurance cover for cyber attack ‘time bomb’

LONDON (Reuters) – Energy companies have no insurance against major cyber attacks, reinsurance broker Willis said on Tuesday, likening the threat to a “time bomb” that could cost the industry billions of dollars.

Willis highlighted the industry’s vulnerability to cyber threats in its annual review of the energy sector’s insurance market, which called on insurers to find a way to provide cover.

Apr 2, 2014

SGS moving climate project audit business to India to cut costs

LONDON, April 2 (Reuters) – International certification firm
SGS is moving its Britain-based auditing business for
clean energy projects to India in an attempt to cut costs, the
company’s head of environmental services said on Wednesday.

Geneva-based SGS is one of the main auditors of projects
under the U.N.’s Clean Development Mechanism (CDM) – a programme
under the Kyoto Protocol to help fund climate change mitigation
efforts in poor countries while generating carbon offsets for
investors.

Mar 24, 2014

Trading Emissions plc posts 19.2 mln pound H2 liquidation loss

LONDON, March 24 (Reuters) – Clean energy fund Trading
Emissions plc (TEP) said asset disposals and writedowns
related to the winding up of its business had helped push it
into a 19.2 million pound ($31.7 million) loss for the second
half of 2013.

Shares in London-listed TEP fell 8 percent to 14.62 pence on
Monday after the firm said its net asset value had fallen by 26
percent to 22.38 pence per share in the six months ended Dec.
31, 2013.

Mar 12, 2014

EU parliament backs law to curb “super” greenhouse gases

LONDON/BRUSSELS March 12 (Reuters) – The European Parliament
on Wednesday backed a law to curb the use of “super” greenhouse
gases used in fridges and air conditioners, which have a global
warming potential thousands of times greater than carbon
dioxide.

Lawmakers meeting in Strasbourg, France voted 644 to 19 in
favour of a European Commission proposal to cut the use of
climate-harming hydrofluorocarbons, known as HFCs or ‘F-gases’,
by 79 percent below average 2009-2012 levels by 2030.

Jan 17, 2014

Incoming boss Silver says league to keep coming back to London

LONDON (Reuters) – The Brooklyn Nets topped the Atlanta Hawks 127-110 on Thursday in the NBA’s annual London match, a fixture which incoming NBA Commissioner Adam Silver says will remain on the league’s calendar.

The sport’s popularity has picked up since the British capital hosted the 2012 Olympic Games, and Silver said he was keen to continue a “fantastic experience”.

Jan 8, 2014

EU Commission seeks March start for CO2 permit withdrawal

LONDON, Jan 8 (Reuters) – The European Commission has
proposed fast-tracking a plan to prop up carbon prices in the
EU’s Emissions Trading Scheme after member states on Wednesday
agreed to a withdrawal of as many as 400 million permits this
year.

Member state officials approved rules governing how and when
900 million carbon permits can be withdrawn over the next three
years under the Commission’s so-called backloading plan, the
28-nation bloc’s executive said on its website.

    • About Michael

      "Michael Szabo is an environmental markets correspondent based in London, UK. His focus is on carbon emissions trading, but also looks at renewable energy and climate change policy and science. He also manages the Global Carbon Forum."
      Joined Reuters:
      June 2005
      Languages:
      English, French
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