LONDON, Aug 6 (Reuters) – British industry will enjoy record
low wholesale gas prices this winter but a relaxed view on
stocks could mean they spike if hard weather returns after two
mild years, or if supply problems flare up.
The knock-on effect of falling crude oil prices is delaying
critical inventory restocking ahead of the peak demand season,
as buyers seeing prices coming lower are in no hurry.
LONDON (Reuters) – Britain should steer clear of using deep injection wells in shale oil and gas “fracking” and take extra steps to reduce the technique’s environmental and health effects, an industry-funded task force examining the sector said on Wednesday.
The oil and gas industry uses deep injection wells to dispose of wastewater when drilling for shale, but some have been linked to earthquakes in the United States.
LONDON (Reuters) – Ambitious Greek renewable power projects aimed at reducing the country’s dependence on energy imports from Russia will be on hold for some time as the threat of exit from the euro prompts investors and financiers to put the breaks on initiatives.
Greece has submitted proposals on economic reforms in a last-ditch effort to secure a bailout from international creditors and prevent financial meltdown.
LONDON, July 7 (Reuters) – Britain’s competition watchdog is
proposing a cap on energy prices after it found the country’s
largest energy suppliers overcharged households around 1.2
billion pounds each year ($1.9 billion) between 2009-2013.
Britons have been angered by ever-rising energy bills and
poor customer service that has left many consumers alleging
utilities were cheating them. The utilities have denied this.
LONDON (Reuters) – A decision on phasing out a form of coal subsidy is unlikely to come soon but discussions among members of the Organisation for Economic Cooperation and Development (OECD) continue ahead of U.N. climate talks, the OECD’s secretary-general said on Friday.
The OECD has been trying for a year to get an agreement from its 34 member nations on ending export credits for technology used to produce coal, the most polluting of the fossil fuels.
LONDON, July 2 (Reuters) – The European Union’s carbon
market is still failing to be managed properly and more
improvements are needed to protect it from abuse, the EU’s
auditor said on Thursday.
The EU’s Emissions Trading System (ETS) is central to the
28-member bloc’s efforts to cut greenhouse gas emissions but has
endured a series of damaging scandals over its 10-year
existence, including value-added tax fraud, the resale of used
credits, phishing scams and cybertheft.
LONDON, June 30 (Reuters) – The British government needs to
extend policies and funding to reduce carbon emissions into the
next decade to avoid increasing the cost and impact of global
warming, Britain’s climate change adviser said on Tuesday.
The government has a legally binding target to reduce its
greenhouse gas emissions by at least 80 percent from 1990 levels
by 2050 to limit the effects of climate change and the
committee’s role is to advise it on the best way of doing so.
June 25 (Reuters) – Britain is to begin selling stakes in
its Green Investment Bank (GIB) to bring it into private
ownership and to help it to grow, the government said on
Since the bank was created as a commercial venture at the
end of 2012 to back green energy projects and to spur private
sector investment it says it has invested 2 billion pounds ($3
billion) in 50 projects worth over 8 billion pounds including
waste management plants and offshore wind farms.
LONDON (Reuters) – The cost of offshore wind energy in Britain can become competitive with more established forms of energy in the next decade through better technology and bigger turbines, a Dong Energy executive told Reuters on Wednesday.
Offshore wind is one of the most expensive renewable energy technologies in Britain, because manufacturing and maintaining turbines strong enough to withstand marine environments is costly. The sector still relies heavily on government subsidies.
LONDON, June 18 (Reuters) – Emissions trading is a quick-fix
solution which could cause speculation and undermine global
efforts to reduce greenhouse gas emissions, Pope Francis said in
his encyclical on the environment on Thursday.
The pope made an urgent call for action to fight climate
change in the document, which he wants to be part of the debate
at a major U.N. summit on climate change in December in Paris.