We reported yesterday that the chief executive of energy utility EDF has said he expects to decide on whether to go ahead with Hinkley 'by the end of the year'.
Speaking to Le Monde Henri Proglio also claimed the company had secured a deal with the British government to guarantee 65% of the project's debt and confirmed that contracts would last 35 years.
UK
Right. let's kick off with Lord Howell. He said that fracking in the south was problematic, but fracking in the north east was ok, because it's "desolate" up there. He then apologised. We're pretty sure you know all this. One suspects it doesn't move the debate forward a great deal...
Centrica profits rise on cold weather
When it's cold energy companies make lots of money - specially British Gas but also EDF. It's parent company, Centrica, unveiled bumper profits and also announced that it was going to buy a US gas supply business.
The firm also confirmed it's interest in UK shale gas. "Obviously its early stages with shale gas in the UK," said finance director Nick Luff, "We do have the partnership with Cuadrilla, which we have put some capital up for and will put more capital up in the next few years as we drill some test wells and just see what the potential is, and I think we'll take it from there depending on what results we get from those tests."
Charles Perry from Second Nature argues that ultimately the debate on shale is a debate about pollution, fossil fuels and climate change.
Environment agency consults on shale guidance
The Environment agency, the main environmental regulator for UK shale gas, is consulting on it's revised technical guidance for shale gas exploration. It's pretty techy, but doubtless will lead to a story with the word 'fracking' in the title at some stage.
WORLD
EDF to quit US nuclear...due to shale
The French state owned utility says shale gas makes investing in US nuclear un-economic. However the firm says it won't impact on the economics of investing in Europe. In fact the move could leave it with a little spare cash for a nuclear plant in Somerset.
China to spend $294bn on renewables in five years
Bloomberg reports that China’s spending to develop renewable energy may total 1.8 trillion yuan ($294 billion) in the five years through 2015 as part of the nation’s efforts to counter climate change, according to a government official. Let's put that in context, that is more than double what the UK hopes to spend on it's entire low-carbon power sector over ten years. Maybe.
