How institutional capital could keep the lights on and lower energy bills November 12, 2013 WITH so much talk about the lights going out in the UK over the next two to three years, it almost starts to be believable. In its last Electricity Capacity Assessment, Ofgem prophesied that our reserve margin of available capacity could fall below 5 per cent of total peak demand by 2015-16, raising the risk [...]
The Debate: As high costs force Centrica to pull out of new projects, can nuclear power ever be profitable? February 4, 2013 YES Tony Lodge Nuclear power stations can be built and operated without the need for government subsidies. The actual build of nuclear power stations is entirely financed by energy companies – not the government. However, the only way that you can get these companies to invest billions of pounds is by providing them with a [...]
Business groups tear into Labour plan to scrap corporation tax cut September 24, 2013 BUSINESS groups lined up to pan labour leader Ed Miliband’s promise to reverse a planned corporation tax cut yesterday, in broad agreement that recent reductions had been a positive development. The treasury has reduced corporation tax from 28 per cent to 23 per cent so far in government, with plans to reduce it further to [...]
Developers deny landbanking as Miliband vows to fine building firms sitting on valuable plots September 24, 2013 THE CONSTRUCTION industry yesterday rejected Ed Miliband’s suggestion that Britain's housing supply issues are caused by developers hoarding land, amid criticism of his willingness to confiscate land if firms that do not get building. “We will say to private developers you can’t just sit on land and refuse to build,” the Labour leader told his [...]
British Gas urged to freeze prices after cold winter fires up profits July 31, 2013 BRITISH Gas owner Centrica yesterday unveiled a surge in half-year profits, prompting consumer groups to urge the firm to freeze energy bills this winter. Operating profit across the entire business rose nine per cent to £1.58bn, while profits in British Gas’ residential energy supply unit rose three per cent, due to an unusually cold winter [...]
Miliband’s lurch to left is a recipe for disaster September 25, 2013 WE NOW know what Labour’s strategy to win the next election will be: shift to the left, bash business, stoke envy and jealousy, attack the City and come up with a raft of populist policies. It might even work. New Labour is well and truly over, an experiment now deemed an obsolete, almost shameful failure [...]
Miliband’s lurch to left is a recipe for disaster September 24, 2013 WE NOW know what Labour’s strategy to win the next election will be: shift to the left, bash business, stoke envy and jealousy, attack the City and come up with a raft of populist policies. It might even work. New Labour is well and truly over, an experiment now deemed an obsolete, almost shameful failure [...]
The Square Mile sets sail for the Isle of Wight August 6, 2013 GLORIOUS Goodwood, Royal Ascot, Wimbledon and Henley Royal Regatta have all been and gone, so it was off to the Isle of Wight yesterday, for the last of the City summer sporting jollies. Aberdeen Asset Management’s Cowes Week means days of sailing and schmoozing down in the small town of Cowes, with the highlight of [...]
Cuadrilla in talks over shale gas drilling on United Utilities’ land July 21, 2013 ENERGY firm Cuadrilla has been talking to United Utilities as it plans its next attempt to extract shale gas in the north west of England. Cuadrilla, which suspended fracking in 2011 after causing small tremors in Blackpool, has spoken to the water company about six possible sites for fresh drilling. As well as getting a [...]
MPs call for full breakdown of all energy bills July 28, 2013 ENERGY suppliers should be forced to tell customers exactly how much climate change policies are adding to their fuel bill, according to a report released today by MPs. The energy and climate change select committee says industry regulator Ofgem should restore consumer confidence in the market by requiring suppliers to state how various components have [...]