Latest news
UK unveils GBP 10 billion of financial guarantees for Hinkley Point nuclear reactor
The UK government has announced its initiative to encourage investment in nuclear power by offering 10 billion pounds (GBP) (15.2 billion US dollars, 11.6 billion euros) of financial guarantees to French generator EDF for the construction of a new nuclear plant at Hinkley Point.
read more... 02/07/2013
UK menaced by blackouts of power within 2 years
According to the energy watchdog Ofgem the risk of power blackouts in UK has doubled in the last year, as the country is facing an energy crunch which will cause an increase of the energy bills. The supply crisis is the result of Britain forcing old coal and oil plants to shut down supporting projects of new green wind farms and nuclear plants.
read more... 01/07/2013
UK to pay offshore wind developers triple market electricity price
Under a subsidy program to boost renewable energy that by 2020, the UK is engaged to pay offshore wind developers triple the market price for electricity they generate at £155 per megawatt-hour, move that will cost consumers 7 .6 billion pounds ($11.6 billion) a year.
read more... 28/06/2013
BGS: Britain's shale gas reserves are much larger than previously estimated
According to a new report performed by the British Geological Survey, UK may hold shale gas deposits that could supply the country for 25 years, ramping up the previous estimates.
read more... 28/06/2013
UK: Electricity prices to double in the next years to come in comparison to those in Germany
A new report offered by bank Credit Suisse stated that UK electricity prices could almost twice those in Germany in the next three years because of the impact of a new tax intended at supporting renewable power production. The report showed that wholesale prices could increase in comparison to those in Germany by 85% in 2016-17 and would maintain the trend in general for the next 7- 10 years.
read more... 24/06/2013