Thousands of jobs will ‘go to the wall’ after FiTs cut

Tens of thousands of jobs could be at risk after the Government’s proposed changes to the Feed in Tariff (FiTs), the subsidy for solar power. Today DECC announced the FiTs would be halved, with a new tariff for schemes up to 4kW in size of 21p/kWh – down from the current 43.3p/kWh. David Hunt, a […]

Government should ‘honour’ subsidy rate for signed solar contracts

The Government’s proposal to slash a solar subsidy has been picked over by a consumer group which warns that a month deadline to get projects covered by the scheme’s current support level is too short notice. DECC announced its plans to halve the Feed in Tariff (FiTs) rate on solar PV panels for domestic customers […]

BG Group issue £750m of bonds

UK-based natural gas producers BG Group have issued £750 million of bonds. The 25-year bonds are due in November 2036 and pay a coupon of 5%. BG Group Chief Financial Officer, Fabio Barbosa said: “Today’s offering builds upon the equally successful $3 billion US bond issue we completed earlier this month. It also takes advantage […]

Government gives thumbs up to new Yorkshire plants

DECC has given the go ahead to two new power plants in Yorkshire. The energy department says they will create over 1,000 jobs and generate enough energy to power almost two million homes. Scottish and Southern Energy are investing £250m into a multifuel project at its Ferrybridge plant (pictured) in Wakefield, Yorkshire. The 108 MW […]

Scottish Government saves renewables £4m in 2011

The Scottish Government has made it easier for companies investing in renewables by reducing business rates the industry would normally have to pay. Figures show that the relief scheme for renewable energy generators has saved the industry £4 million this year. The scheme offers discounts on what business pay on their properties of up to […]

Every little helps… for E.ON customers

E.ON has teamed up with supermarket giants Tesco to help reduce their customers’ bills this winter. For every £10 worth of Tesco Clubcard vouchers used, E.ON customers will have £15 deducted from their bill. Ian Simkin, Clubcard Rewards Director at Tesco said: “We know that household budgets are under pressure and that customers are looking […]

Nexen nets Golden approval for North Sea oil project

Nexen Petroleum UK, subsidiary of Canadian energy firm Nexen, has won approval for its Golden Eagle area development in the North Sea. The second largest oil producer in the UK got the go ahead from DECC for the £2billion project. The project is expected to produce around 140 million barrels of oil equivalent over its […]

Vestas shares drop over delays to new factory

Shares in wind turbine manufacturer Vestas dropped by more than 20% this morning on the Copenhagen stock exchange as the company were forced to announce huge profit losses as a result of delays to the construction of a new factory. The company have reduced their 2011 profit estimations from €7bn to around €6.4bn. The company […]

Shell takeover part of larger European expansion by UGI

America-owned distributor and marketer of energy products and services UGI Corporation has officially taken over Shell Gas UK and changed its name to AvantiGas. The acquisition is one of 12 by the company across Europe in the last year. Donald Groth, Vice President at UGI Corporation, said there would be little restructuring: “There are no […]

EDF puts in planning consent for Hinkley Point nuclear

EDF Energy has applied for planning permission to build a new nuclear plant at Hinkley Point. The French energy firm must now wait for approval from the Infrastructure Planning Commission (IPC). Hinkley Point C already has local planning permission. Now the IPC has 28 days to decide whether to accept the submission. The plant will […]