Energy supplier EDF has increased its electricity prices by 17% and its gas prices by 22%, it announced.
The company blamed record wholesale energy costs for the increases, which come into effect immediately.
Eva Eisenschimmel, chief operating officer of EDF Energy customers branch, said: "Record world oil prices have continued to drive up wholesale gas prices.
"Alongside unprecedented rises in wholesale coal and electricity costs, this has impacted hugely on the cost of supplying energy to our customers."
The French firm is one of Britain's biggest energy suppliers with 5.1 million customers. Friday's increases will mean typical customers on a dual fuel tariff will pay £3.97 a week more for their energy, it said.
The company said wholesale energy prices had increased by 70% for coal, 63% for gas and 47% for electricity since it last increased its prices in January.
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Friday, 25 July 2008
Thursday, 24 July 2008
Price rise warning from Scottish & Southern
A fresh round of energy price rises looked inevitable today as Scottish & Southern Energy (SSE) issued a stark warning that its first- half profits would be substantially lower than the results achieved in previous years.
Ian Marchant, chief executive of SSE, said that it was becoming increasing difficult to keep retail energy prices down, as wholesale prices soar.
"The extent of the energy shock with which the entire global economy is having to contend has been well-documented, and its full impact on prices for electricity and gas in the UK has still to be felt. We are continuing to resist the pressure to put up prices for domestic customers, but doing so is becoming more difficult by the day," Mr Marchant said.
In previous years, SSE has made most of its pre-tax profits in the first six months of the year. However, this year the second half is expected to be stronger.
Angela Jameson
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Ian Marchant, chief executive of SSE, said that it was becoming increasing difficult to keep retail energy prices down, as wholesale prices soar.
"The extent of the energy shock with which the entire global economy is having to contend has been well-documented, and its full impact on prices for electricity and gas in the UK has still to be felt. We are continuing to resist the pressure to put up prices for domestic customers, but doing so is becoming more difficult by the day," Mr Marchant said.
In previous years, SSE has made most of its pre-tax profits in the first six months of the year. However, this year the second half is expected to be stronger.
Angela Jameson
full article
Tuesday, 22 July 2008
Britain set to become electric car capital of Europe if Brown seals deal with General Motors
Britain is to become the 'electric car capital of Europe' under a deal being hammered out between the world's biggest car company and Gordon Brown.
Bosses at General Motors want to build a revolutionary electric family vehicle at their factory in the UK - creating up to 500 new jobs.
It is part of the car maker's plan to make 1 in 10 of every vehicle they sell in Europe an electric version.
If a proposed deal between the car giant and Mr Brown is realised, all of them will be built in the UK.
By 2015 up to 220,000 electric cars a year - with batteries included - would be built at Ellesmere Port factory in Cheshire.
The factory would supply the whole of Europe with electric cars, of which 40,000 would be sold in the UK.
The new project from GM's British subsidiary Vauxhall would create 500 new jobs on top of the 2,200 people already employed there.
The 'green' car will be called the Flextreme - an electric hybrid which Mr Brown inspected for himself when he met company bosses today at the British International Motor Show.
Whitehall officials have said that the plan 'was of interest' and 'struck a chord' with Government thinking.
Details emerged as Mr Brown told car makers on the preview day of the show that he wanted them to build more electric cars to cut pollution.
In return for the massive investment, General Motors wants Mr Brown to honour his wish to have public charging points for electric cars on thousands of British streets.
full article
Bosses at General Motors want to build a revolutionary electric family vehicle at their factory in the UK - creating up to 500 new jobs.
It is part of the car maker's plan to make 1 in 10 of every vehicle they sell in Europe an electric version.
If a proposed deal between the car giant and Mr Brown is realised, all of them will be built in the UK.
By 2015 up to 220,000 electric cars a year - with batteries included - would be built at Ellesmere Port factory in Cheshire.
The factory would supply the whole of Europe with electric cars, of which 40,000 would be sold in the UK.
The new project from GM's British subsidiary Vauxhall would create 500 new jobs on top of the 2,200 people already employed there.
The 'green' car will be called the Flextreme - an electric hybrid which Mr Brown inspected for himself when he met company bosses today at the British International Motor Show.
Whitehall officials have said that the plan 'was of interest' and 'struck a chord' with Government thinking.
Details emerged as Mr Brown told car makers on the preview day of the show that he wanted them to build more electric cars to cut pollution.
In return for the massive investment, General Motors wants Mr Brown to honour his wish to have public charging points for electric cars on thousands of British streets.
full article
Monday, 21 July 2008
Retailers urge EU to scrap anti-dumping duties on energy-saving lightbulbs
Leading European retailers today urged the EU to scrap punitive anti-dumping duties on energy-saving lightbulbs from China, claiming the tariffs cost consumers billions of euros a year.
The retailers, including Sir Terry Leahy of Tesco and Sören Hansen of Ikea, said the tariffs of up to 66% ensured that prices were "artificially inflated" when they reached the shops and this depressed demand for energy-saving bulbs.
The European retail round table claimed that if only one extra low-energy bulb was purchased per EU household this would save €2bn (£1.6bn) in electricity consumption - quite apart from reducing CO2 emissions.
The European commission has imposed duties on imports from China for the last six years and extended them for a year in late 2007. But many of the contentious imports are made by European firms in China.
Dutch group Philips, the world's biggest lighting company, is pressing for the duties to be lifted while Osram, owned by Germany's Siemens, has campaigned for them to be retained. But Osram recently gave up a legal challenge to the EC.
The duties are seen as in flagrant contradicition of EU ambitions to reduce energy consumption by 20% by 2020 - a cornerstone of its claim to be leading the global fight against climate change.
David Gow
full article
The retailers, including Sir Terry Leahy of Tesco and Sören Hansen of Ikea, said the tariffs of up to 66% ensured that prices were "artificially inflated" when they reached the shops and this depressed demand for energy-saving bulbs.
The European retail round table claimed that if only one extra low-energy bulb was purchased per EU household this would save €2bn (£1.6bn) in electricity consumption - quite apart from reducing CO2 emissions.
The European commission has imposed duties on imports from China for the last six years and extended them for a year in late 2007. But many of the contentious imports are made by European firms in China.
Dutch group Philips, the world's biggest lighting company, is pressing for the duties to be lifted while Osram, owned by Germany's Siemens, has campaigned for them to be retained. But Osram recently gave up a legal challenge to the EC.
The duties are seen as in flagrant contradicition of EU ambitions to reduce energy consumption by 20% by 2020 - a cornerstone of its claim to be leading the global fight against climate change.
David Gow
full article
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