Chancellor Philip Hammond’s Autumn Statement has received mixed reactions. One of the announcements included maintaining the cap on Carbon Price Support rates, which stands at £18t/CO2 until 2020/21. Jeremy Nicholson, Director of the Energy Intensive Users Group said the industry feels disappointed the government didn’t abolish it. He added: “Carbon Price Support continues to undermine the […]
The government has confirmed it is maintaining the cap on Carbon Price Support rates and pledged investment for electric cars, innovation and infrastructure. Philip Hammond made the announcement during his first and last Autumn Statement as Chancellor as he revealed it will be abolished. That means following the spring 2017 Budget and Finance Bill, […]
Investment in renewables in the UK is expected to drop by 96% by 2020/21. Total investment in domestic energy efficiency declined from £1.5 billion to £0.7 billion in 2015 and the number of energy efficiency measures installed in homes fell by 80% in the same period. That’s due to current energy policies, according to environmental groups. In a […]
The Treasury’s approach of “consistently favouring” short term priorities over long term sustainability is potentially increasing future costs and harming investor confidence. That’s the conclusion of the Environmental Audit Committee’s (EAC) major investigation, which found the Treasury has “ridden roughshod over other departments’ objectives”, changing and cancelling long-established environmental policies and projects at short notice. […]
ELN talks to the energy industry to get their reaction following Chancellor George Osborne’s Spending Review announcement.
The UK Government has pledged to back both the fracking and renewable energy industry. Chancellor George Osborne made the announcement today as part of the Spending Review, which sets out his plans for the next four years. He said the goal is to invest in the long term economic infrastructure of the UK “and […]
The Scottish Government is calling for a “fundamental” overhaul of oil and gas taxation ahead of this week’s Budget Statement. Scotland’s Deputy First Minister John Swinney has written to Chancellor George Osborne urging him to support the oil and gas industry. He believes the Chancellor has “a chance to rewrite history” and “right a wrong” […]
Chancellor George Osborne has given the oil and gas industry a tax boost in today’s Autumn Statement. In a speech devoid of much energy content, Mr Osborne announced a 2% cut in tax from the new year to encourage investment and boost production in the North Sea. The so called “Supplementary Charge reduction” which falls […]
Neil Diamond said it… money talks! For those of a certain age it’s a classic lyric from the hit ‘Forever in Blue Jeans!’ Ah yes, a tub thumper from the late 70s and its wistful tale of how love and principles, matter more than money and all that. As I played it in the office […]
What did the Autumn Statement hold for energy users of all sizes? Nothing much of any use finds ELN reporter Vicky Ellis.