Energy industry questions Labour’s ‘exceedingly ambitious’ zero-carbon plan October 24, 2019 Senior figures in the UK energy industry have cast doubt upon a Labour party-backed report setting out the “most radical feasible pathway” to reach zero-carbon by 2030. The report, commissioned on the back of this year’s Labour party conference, said the move would require £150bn in up-front capital, followed by investment of 2% GDP each [...]
Renewable energy set to grow by 50% by 2024 October 21, 2019 The world’s total renewable power capacity is forecast to grow by 50 per cent by 2024, according to the International Energy Agency’s (IEA) Renewables 2019 report, which was released today. Solar photovoltaics are predicted to account for more than half of the growth, with the 600GW increase to be driven mainly by commercial, industrial and [...]
BHP to switch Chilean copper operations to renewables by 2021 October 21, 2019 Mining giant BHP has announced today that it will supply all its Chilean copper operations through renewable energy from 2021. Daniel Malchuck, president of BHP Minerals Americas, said that it had signed four energy contracts, covering projects such as Escondida, the world’s biggest copper mine. Read more: Temasek makes 3bn offer to take control of [...]
Britain smashes annual record for coal-free power – in just six months June 20, 2019 Britain smashed another record for not burning coal from energy today as it moves towards eliminating the fuel by 2025. British power plants have now stood idle for 1,976 hours so far this year, more than in all of 2018. Read more: Carbon chief: A green economy will be cheaper than you think It has [...]
Invest in green energy, urges minister, as financial risks of climate change ‘too important to ignore’ June 3, 2019 Pensions minister Guy Opperman has urged fund managers to “do the right thing” and put money into renewables. Read more: Shell switches 700,000 customers to renewables as it rebrands First Utility Speaking in London, he said pension and investment managers must take their environmental responsibilities seriously to help fight global warming. Opperman said: “The financial [...]
Labour plans to nationalise power grid would delay green transition, firms say May 15, 2019 The businesses which supply power to British homes have hit out at Labour after it revealed plans to bring the electricity grid back into public hands. National Grid, which has run the networks since privatisation in 1990, today took aim at the party’s ambitions, saying its business was creating a framework to help Britain reduce its [...]
Dutch drivers given carbon offset option at Shell pumping stations April 8, 2019 Dutch car owners will be able to offset their carbon emissions at Shell garages from next week as the oil giant launches a three-year $300m drive to flaunt its green credentials. The company said the initiative is part of a plan to reduce its net carbon footprint by between two and three percent in three years. [...]
John Laing’s diverse portfolio drives global expansion at green-focused infrastructure firm March 5, 2019 Infrastructure investment company John Laing’s shares rose this morning as it announced strong growth in net asset value per share over the course of 2018. The group said it had resisted the global climate of political and economic uncertainty which has stymied infrastructure investment in some regions by maintaining a diverse portfolio. Share rose one [...]
Economy Energy banned from taking on new customers amid Ofgem probe January 4, 2019 Economy Energy has been banned from taking on new customers until it improves its customer service, Ofgem said today. The energy regulator said it has issued a three month ban on the supplier, which will also prevent it requesting one-off payments and increasing direct debits. Ofgem said Economy Energy must improve its customer contact procedures, [...]
Scottish Power goes with the wind as Drax Group completes takeover of portfolio January 2, 2019 Drax Group has completed its £702m takeover of power plants from Scottish Power as the company moves towards ending its coal-based production before 2025. The deal, which was first announced in October, sees Drax take control of the Cruachan pumped storage hydro facility and a plant which turns waste into biomass. The plants have helped [...]