Following a series of significant increases in energy prices and within the context of Northern Ireland having the highest levels of fuel poverty in the UK (double that in Great Britain), the Consumer Council is urging the Executive and the Regulator to re-examine the McIldoon Report and ensure that energy policy and regulatory frameworks provide … Read more
A decrease in both gas and electricity prices drove the Bord Gais Energy Index 1% lower for the month of December but it was 5% higher for 2011 as a whole. The ongoing European sovereign debt crisis, fears about global economic growth in 2012 and a mild start to the winter across Ireland, the UK … Read more
Statoil has confirmed that the recent Aldous and Avaldsnes oil discoveries in the North Sea are connected and may represent an oil structure of between 500 million and 1.2 billion barrels of recoverable oil equivalent. If the upper part of the interval strikes pay dirt, the discovery will be one of the ten largest oil … Read more
Research by a University of Leicester student has identified an environmentally friendly alternative to a major industrial use of oil. Abdelghaffar Abdelmalik, who is studying for a PhD in the University’s Department of Engineering, has discovered a way to treat palm kernel oil so that it can be used to insulate electrical transformers. Transformers use … Read more
In 2009, oil remained the main source of energy in the EU27, with a share of 37% in the total gross inland energy consumption. However, there have been changes in the mix of sources contributing to gross inland energy consumption over the last decade. The share of renewable energy has almost doubled, from 5% of … Read more
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
The UK Energy Research Centre (UKERC) has released a major new report addressing two of the British Government’s toughest energy policy goals – delivering reliable energy to consumers while meeting its legal commitment to reduce C02 emissions by 80% by 2050. The report concludes that: * The UK electricity sector must be decarbonised by 2050, … Read more
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
The Fault Analysis Group, a leading research group within the UCD School of Geological Sciences, has been presented with the NovaUCD 2010 Innovation Award. The award was presented to the group in recognition of its successes in the establishment of strategic and collaborative research links with global industry partners and in acknowledgement of its successful … Read more
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