UK Energy Trends – Where are Prices Going?

By Richard Frape, Director of Market Services, Spectron UK gas and power prices rose 25% over the course of 2010, ending the year on a surge as the coldest December in 100 years propelled consumption levels higher and pushed short-term gas prices towards a two-year high. Prices then started to ease sharply at the start … Read more

ESB Electric Ireland Unveils New Price Plans

As ESB Electric Ireland competes, for the first time, in the deregulated residential electricity and gas markets, the company is launching a new range of price plans for the residential electricity and gas markets that will offer substantial savings for customers. These include: * Savings of up to 17% on electricity unit rates, representing the … Read more

GE Energy Makes $3.2 Billion Acquisition

GE Energy is acquiring 90% of Converteam, a leading provider of electrification and automation equipment and systems, for approximately $3.2 billion from a controlling shareholder group that includes management, Barclays Private Equity, and LBO France. The transaction, which is expected to close during third quarter 2011, will significantly expand GE’s offering in rapid growth sectors … Read more

Ofgem Proposes Radical Overhaul of UK Energy Supply Market

UK energy market regulator Ofgem is proposing sweeping away complex and unfair pricing practices and requiring the ‘big six’ energy suppliers to auction up to 20% of their electricity generation output following a major review of the sector. Ofgem’s review found that competition is being stifled by a combination of tariff complexity, poor supplier behaviour, … Read more

New Price Review Regime to Encourage Investment by UK Energy Networks

UK energy regulator Ofgem has announced how the new performance-based RIIO framework will encourage the efficient investment and innovation required for Britain’s gas and electricity transmission and gas distribution networks. The price controls for these networks will run for eight years from 2013-2021. RIIO (Revenue=Incentives+Innovation+Outputs) is designed to incentivise companies to meet the unprecedented challenges … Read more

Chicken Litter and Pig Manure Used to Power English Town

A new biogas power station in the UK showcases how in future cities and towns will be powered by locally produced energy. The facility, built near the English town of Cirencester, is powered by agricultural biomass, including chicken litter and pig manure, allowing residents to benefit from this low cost alternative to oil, coal and … Read more

Ukraine Joins European Energy Community

Ukraine has joined the European Energy Community. The move extends the EU internal energy market to South East Europe and enhances the overall security of supply. The Ministerial Council of the Energy Community had approved the accession of Ukraine in December 2009, but the signature of the Accession Protocol was made subject to the adoption … Read more

British Planning System is Delaying Power Projects

The Confederation of British Industry (CBI) is warning that plans to hand back powers to ministers to approve major infrastructure projects could lead to further delays in building vital energy schemes in the UK. The UK’s leading business group says the Government’s decision to replace the independent Infrastructure Planning Commission (IPC) with a Major Infrastructure … Read more

Euro Recovery Masks Energy Price Rises in July

The Bord Gais Energy Index (BGEI), an Irish-specific index designed to measure the prices in the wholesale energy market, decreased by 1% in July. The recovery of the Euro versus Sterling and the US Dollar helped mitigate increases in some of the individual Energy Index components. Had the Euro been unchanged versus the US Dollar … Read more

Scottish Group to Tackle Pipeline Reliability and Safety Challenges

A team from the University of Dundee have been awarded two grants totaling almost £300,000 to improve the safety and reliability of ultra-deep water oil and gas extraction. The team, led by Dr Huirong Le from Mechanical Engineering in the University’s School of Engineering, Physics and Mathematics have received the funding from the Knowledge Transfer … Read more