UK nuclear worth £6.4bn last year

The nuclear power sector contributed £6.4 billion to the UK economy last year. The Nuclear Industry Association (NIA) suggests this economic impact rises to £12.4 billion and provides 155,000 jobs when the sector’s spend on associated goods and services in the supply chain and wage spending is taken into account. Each of the sector’s workers […]

European wind ‘boosting GDP and jobs but at risk’

The wind industry in Europe contributed €36 billion (£27bn) to the EU’s GDP last year. It also supported around 263,000 jobs, generated €8 billion (£6bn) of exports outside Europe and saved 166 million tons of emissions, according to a new report from WindEurope. The report suggests every €1,000 (£752) turnover generated in the wind industry […]

Drax ‘generates £1.7bn for UK economy each year’

The Drax Power Station helps generate £1.7 billion for the UK economy and supports more than 18,500 jobs each year. In a study of the biomass and coal-fired plant’s impacts, researchers at Oxford Economics found this contribution increased by 34% year-on-year following the firm’s acquisition of corporate power supplier Opus Energy. The facility, which provides […]

Scottish wind project to boost economy by £827m

A new offshore wind farm in Scotland is expected to contribute £827.4 million to the country’s GDP. That’s according to an analysis carried out at the University of Strathclyde, which suggests the 450MW Neart Na Gaoithe project could see capital expenditure of up to £2 billion, with around £510 million of this to be spent in Scotland. […]

‘Fuel tax freeze should be fuel tax cut’

Campaigners against fuel taxes say the longest duty freeze in history should be turned into an actual reduction. FairFuelUK say Philip Hammond, the Chancellor of the Exchequer, needs to accept that lower fuel prices are better for the economy and should do something about it in tomorrow’s Autumn Statement. The group use George Osborne’s continued […]

Renewables could increase world’s GDP by $1.3tn

Increasing the world’s share of renewable energy could boost global GDP by up to $1.3 trillion (£0.8tn). That’s according to the International Renewable Energy Agency (IRENA) which added a 36% share of green energy would be needed by 2030 to achieve it. Japan would see the largest positive GDP impact – a 2.3% increase, stated IRENA. Australia, […]

Private sector put 20 Olympic stadiums' worth of cash into energy

The private sector put enough cash into the UK to build the Olympic stadium 20 times in 2012, according to a new report prepared by EY for trade body Energy UK. The ‘Powering the UK 2013’ report released today found £1.6billion more was invested in the UK energy sector last year than in 2011, rising […]

'Water has had detrimental impact on half of businesses'

Problems with water supply have had a detrimental impact on business in the last five years, for half of the big companies surveyed in an annual global water report. The non-profit organisation  CDP used data provided by 180 companies listed on the FTSE Global 500 Equity Index and found the percentage of companies predicting that problems […]

The Market Report – 27th August 2013

Find out the latest news on the energy market from Ben Spry, npower’s Client Portfolio Manager, in this weekly update. If you are blocked from seeing this video and would like your own download, please email [email protected]

Move over shale gas – shale oil could boost world GDP by $2.7tn

Shale gas has been hailed as a game-changer after it’s gushing success in the United States – but it’s lesser known sister could have an even bigger impact, according to new research. The global impact of shale oil – which is extracted the same way as shale gas – could “revolutionise” the world’s energy market […]