As a social, economic, and political trend, the deployment of renewable energy technologies is accelerating at record rates, in part through government subsidy support fomenting the industry, with subsidies reaching $16bn (£8bn) worldwide in 2007. This remains trivial in comparison with fossil fuels, which is still the most heavily subsidised global energy source at $200bn for the same period, with oil comprising $90bn of this total.
Evidence of the durability of the clean technology sector lies in the investment going into clean technologies as they become institutionalised and politicised. The United Nations Environment Programme and New Energy Finance state that $150bn was invested in clean technologies in 2007.
Temporary setbacks will inevitably occur as supply chains build out, and as governments balance subsidy initiatives. However, the fundamental drivers of growth will remain intact.
The areas of greatest investor attention are mature technologies, both renewable energy generation and energy efficiency, that provide an alternative to the increasing cost of fossil fuel-derived energy sources. As an example, wind generation is competitive with oil at $70-$90 per barrel, and is therefore lucrative at today's oil price of around $130 a barrel. Given that wind is a zero-cost fuel source, the long-term economics of wind become increasingly attractive.
full article
Friday, 25 July 2008
Ofgem enforces 'social tariff'
Energy regulator Ofgem is forcing providers to cut charges for their poorest customers. It insists that their "social tariff" should at least match their cheapest deal.
Any of the 4.5 million households in fuel poverty - defined by energy bills swallowing over a tenth of their income - can ask to go on the social tariff. But most suppliers currently offer their cheapest deals to customers with bank accounts and internet access who can pay online or by direct debit.
This knocks at least a tenth off the average household's £1,058 yearly bill, but the choice is not normally open to the poorest with no bank accounts or computers. Instead, many of them pay most for energy because they're on prepayment meters.
Energy watchdog Energywatch welcomed the ruling but said those on the social tariff should be charged least.
Two providers, EDF Energy and Scottish & Southern, already offer that. Other providers' social tariffs are less generous or are restricted, for example, to pensioners only.
British Gas and Scottish Power are the meanest, according to Energywatch.
Call your provider to apply for its "social tariff", but you may save more by first switching to a cheaper supplier.
For advice on other ways to cut your fuel bills, call the Home Heating Helpline on 0800 336 699.
full article
Any of the 4.5 million households in fuel poverty - defined by energy bills swallowing over a tenth of their income - can ask to go on the social tariff. But most suppliers currently offer their cheapest deals to customers with bank accounts and internet access who can pay online or by direct debit.
This knocks at least a tenth off the average household's £1,058 yearly bill, but the choice is not normally open to the poorest with no bank accounts or computers. Instead, many of them pay most for energy because they're on prepayment meters.
Energy watchdog Energywatch welcomed the ruling but said those on the social tariff should be charged least.
Two providers, EDF Energy and Scottish & Southern, already offer that. Other providers' social tariffs are less generous or are restricted, for example, to pensioners only.
British Gas and Scottish Power are the meanest, according to Energywatch.
Call your provider to apply for its "social tariff", but you may save more by first switching to a cheaper supplier.
For advice on other ways to cut your fuel bills, call the Home Heating Helpline on 0800 336 699.
full article
Energy supplier hikes prices
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.
full article
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.
full article
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
full article
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
Subscribe to:
Posts (Atom)
