Latest news
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
Daily: Crude oil settles up on U.S. positive data
Brent crude oil climbed on Thursday, bolstered by gains in U.S. equities in late-session trading following U.S. figures which showed stronger retail sales and a decline in weekly jobless claims. Meanwhile, front month July Brent crude, which expired on settlement on Thursday, inched up 76 cents to settle at $104.25 a barrel, after dropping as low as $102.75. The August contract settled up $1.39 at $104.95. July U.S. crude oil increased 81 cents to settle at $96.69 a barrel, posting gains in six of the last nine trading sessions.
read more... 14/06/2013
Spain to reduce subsidies to renewables
Spain government has recently announced it intends to reduce renewable subsidies by 10-20% by 21 June. The decision came following a meeting between representatives of Spanish and foreign banks and industry officials last month, when it was concluded that government subsidies increased the costs for the functioning of the nation's electrical system, and the costs of running the renewable systems have been higher than the amount of money generated by actual sales of power to households and businesses.
read more... 11/06/2013
E.ON strikes a 20-year LNG deal with Canada’s Pieridae Energy
German utility giant E.ON has unveiled a 20-year agreement on LNG sales with Canada’s Pieridae Energy.
read more... 04/06/2013
Scottish sales of oil and natural gas hit 9 year high
Scottish Energy Minister Fergus Edwig stated that Scottish oil and gas supply chain exports increased by 8.4 % in 2012 if compared to 2011 levels, to 12.7 billion dollars.
read more... 08/05/2013