LONDON (Reuters) – Britain’s energy watchdog has proposed new price controls for five electricity network operators for the next eight years, aiming to spur investment in network upgrades and help lower energy bills.
The new electricity distribution price controls, which will run from April 2015 to 2023, will encourage the network companies to spend 17 billion pounds to upgrade and maintain Britain’s electricity network, regulator Ofgem said in a statement on Wednesday.
LONDON, July 28 (Reuters) – The British government took
steps to speed up energy exploration including controversial
hydraulic fracturing for shale gas on Monday with a new
licensing round for companies looking for onshore oil and gas.
Concerns about the potentially dangerous impact of hydraulic
fracturing, or fracking, in the search for shale gas has
prompted protests in Britain and outright bans on the practice
in France and elsewhere.
LONDON, July 23 (Reuters) – The European Commission gave the
go-ahead to Britain’s proposed energy capacity market and a
scheme to support renewable energy generation on Wednesday,
paving the way for sweeping reform of the country’s electricity
Britain is overhauling its electricity market to help
deliver low-carbon energy and reliable electricity supplies as
existing and ageing nuclear and coal plants go offline over the
LONDON, July 23 (Reuters) – Europe’s installed wind capacity
will increase at a slower rate to the end of the decade than
previously estimated due to regulatory uncertainty and weak
economic growth, an industry association said on Wednesday.
European Union countries will have a combined 192.4
gigawatts (GW) of installed wind energy capacity by 2020, 64
percent higher than 2013 levels, the European Wind Energy
Association (EWEA) said in a report.
LONDON, July 22 (Reuters) – A plan by London-based oil and
gas exploration firm Celtique Energie to drill for shale gas in
southern England failed to win county government approval on
Tuesday, the latest in a series of setbacks to Britain’s
fledgling shale industry.
Citing concerns about noise and the impact on the
environment, West Sussex County Council’s planning committee
rejected the firm’s application for permission to explore for
oil and gas in Wisborough Green for three years.
LONDON, July 22 (Reuters) – British natural gas prices for
delivery in late summer and autumn are set to rise in coming
weeks as large-scale North Sea maintenance makes it more
difficult for utilities to stock up on reserves ahead of peak
demand in winter.
Prices could be pushed even higher by the Ukraine crisis,
which many analysts fear will result in a disruption in the
supply of Russian gas destined for western Europe and flowing
LONDON (Reuters) – The global market for seaborne thermal coal will be oversupplied by around 10 million tonnes this year, keeping prices below profitable levels for most coal producers well into 2015 or longer and forcing more mines to close.
Coal prices have halved over the past three years as a result of rising output from exporters including Australia, Indonesia, South Africa, Colombia and the United States and sluggish demand from both industrialized and emerging markets.
LONDON, July 21 (Reuters) – The global market for seaborne
thermal coal will be oversupplied by around 10 million tonnes
this year, keeping prices below profitable levels for most coal
producers well into 2015 or longer and forcing more mines to
Coal prices have halved over the past three years as a
result of rising output from exporters including Australia,
Indonesia, South Africa, Colombia and the United States and
sluggish demand from both industrialised and emerging markets.
WELLINGTON/LONDON, July 17 (Reuters) – The goal of a global
carbon market to tackle climate change, once touted to reach $2
trillion by 2020, received a major setback when Australia on
Thursday scrapped its planned carbon trading scheme, which would
have been the world’s third biggest.
Australia’s Emissions Trading Scheme (ETS) was to have
started in 2015 and linked with the world’s biggest market in
Europe — the first direct connection between major emissions
trading schemes and a test case for possible links between
schemes emerging in China and planned in Japan and the United
LONDON, July 15 (Reuters) – British energy companies are
under pressure to improve the way they announce outages or
capacity reductions at their plants after regulator Ofgem found
examples that could lead to market distortions.
Under European Union regulation called REMIT, introduced in
2011, energy generators have to publish information related to
any changes in capacity or use of their production, storage or
transmission facilities, such as outages or shutdowns.