A summary of this morning’s news…
ENERGY DESK
Is China doing more than the UK on climate change?
China will spend 0.71% GDP per year on renewables, whilst the UK figure is 0.68%. And remember the UK figure includes grid upgrades and (at time of calculation) nuclear power.
Ofgem boost to Scottish renewables
The cost of power from renewable energy is set to fall after Ofgem changed the way it charges for use of the national grid. Costs for Scottish wind farm developers have been cut by £1.3m a year.
UK
Clegg opens 270MW Grimsby wind farm
Centrica’s 75 turbine facility is capable of generating power for 200,000 households, equivalent to two thirds of the homes in Lincolnshire. Speaking at the launch, the Deputy Prime Minister said: ““The race is now on to lead the world in clean, green energy. Our offshore wind industrial strategy aims to grow UK supply chain manufacturing so that more of the work and jobs can be done here.”
However the launch threatens to ignite a “British jobs for British workers” debate. Controversially Scandinavian workers are being flown in to maintain the plant, with Scandinavian airlines set to launch a 6-day-per-week service to Humberside airport in October.
Department for Transport launches £25m advanced biofuel fund
The government will provide £25m funding for a plant capable of turning waste into biofuel, Transport Minister Norman Baker announced yesterday. Firms are being asked to propose ideas for advanced biofuel production from municipal waste, agricultural residues, or algae.
£3m energy-efficiency scheme for Scottish homes
The Scottish government has unveiled that interest-free loans of up to £10,000 will be made available for homeowners installing renewable heat and electricity systems such as biomass boilers, heat pumps and micro-wind turbine. The funding will be directly targeted at homes in fuel poverty.
British Gas offering daytime electricity discounts
The UK’s largest energy supplier is trialling a “time of use” tariff in the North East whereby customers will receive discounts for not using appliances during peak evening hours of 5.30-7.30pm. The news comes after British Gas announced plans to offer “Free Power” on Saturdays.
WORLD
Spain to introduce fee for solar generation
In an unprecedented move, consumers will be charged a fee for clean electricity they produce and use via solar or other renewable resources. The measure comes as Spain seeks to curb growth in solar as payments were accused of driving up bills. According to the government installed solar capacity exceeds peak demand by 60%.
Shell and Exxon feeling lose out on shale
Yesterday Shell’s write-down of $2.2bn related to its shale oil assets was a major contributor to a 60% fall in quarterly profits. Fellow oil and gas giant Exxon Mobil is also feeling the effects of its shale investment as its quarterly earnings dropped 57%. Both firms were late to jump on the shale bandwagon, paying billions to acquire firms and drilling rights.
Taiwanese come to blows over nuclear power
Punches were exchanged between rival Ministers in Taiwan’s parliament ahead of a vote on a referendum on a nuclear plant. The plant would be the island's fourth. It has been in construction for more than 10 years and is near completion. However Taiwan's opposition Democratic Progressive Party is against the facility citing safety fears.
