Virgin Media Will Buy Back Shares This Year

Posted on July 31, 2010 by Kathryn

The chief executive of Virgin Media, Neil Berkett, has said the company will buy back £375m of its shares this year, reports The Daily Telegraph.

Richard Branson owns 6.5% of the cable TV and broadband group and the fact that they are to buy back shares shows how confident the company is, particularly as it has signed up a record number of customers in the three months to the end of June.

Mr Berkett said Virgin Media had developed a “rhythm and sense of momentum”. As a result, the company attracted 9,100 more new customers in the second quarter. This is quite a turn a round after losing 27,800 subscribers last year.

Not only has the firm managed to increase its customer base but the firm has also persuaded these customers to increase the average amount they spend on Virgin Media products by 5%. This includes TV, home phone, broadband and mobile and customers are now spending an average of £45.88 a month.

Just over a quarter of a million customers upgraded to Virgin’s HD TV service. Compared with a year ago Virgin Media now has 26 HD channels including Sky Sports 1 and 2.

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Source: The Daily Telegraph

Selling Electricity Back To The Grid

Posted on July 31, 2010 by Emma

MiPower, a solar energy photo voltaic (PV) specialist design and installation company, has been established at Netley Hall in Shropshire for the purposes of helping business electricity customers to sell electricity back to the National Grid.

The company will offer businesses help with the new Feed in Tariff scheme that was launched by the government in April this year. MiPower, which focuses on installing solar panels or photovoltaic systems, will assist electricity customers in maximising their returns from being self-sufficient.

Under the terms of the scheme, homes and businesses are paid for any surplus electricity which they generate. And, although business electricity generators will have to pay tax on any profits they make, it could still prove a significant way to keep business electricity costs low.

Speaking to the Birmingham Post, Mark Jones from MiPower, said:

“The technology will work with pretty much any building, whether it’s domestic, commercial or industrial, the principle is much the same”

Source: Energy Advice Line (News &Views)

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Govt Needs To Help Small Businesses Become Energy Efficient

Posted on July 31, 2010 by Kathryn

The Climate Change Committee (CCC) says the government needs to do more to get businesses to be more energy efficient, reports Energy in Buildings & Industry (EIBI).

Unless there’s more encouragement to persuade businesses and in particular SMEs to be energy efficient, then the CCC warns the government could be in breach of the Climate Change Act 2008.

While greenhouse gas emissions have fallen the CCC says that any falls are almost certainly down to the recession and not to the investment businesses have made in energy efficiency. The CCC added that emissions could start to increase as the state of the economy improved so it’s important that action is taken.

The CCC suggests SME’s need to be particularly targeted because businesses with 500 employees or less make up 68% of the workforce and 99% of workplaces.

The CCC thinks that if the business tax rate was altered to reflect improvements made by businesses in energy efficiency then businesses may be more likely to take action. They suggest tying in energy efficiency investments, which are linked to energy performance certificates, with how much business tax is charged.

Another of their recommendations is to not renew the lease for an SME if their building has an energy rating of F or G.

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Source: Energy in Buildings & Industry (July & August 2010)

TEG Has Green Energy Plans

Posted on July 31, 2010 by Kathryn

A London-based private equity group is to join together with experts at The TEG Group to generate energy from waste, reports The Lancashire Evening Post.

The joint venture will be known as TEG Biogas as it goes into partnership with the venture capital investor Albion Ventures LLP. Benefitting from the green technology experts at The TEG Group, they will build an anaerobic digestion (AD) plant in Glenfarg, Perthshire.

The AD plant will turn waste food into electricity. The 16,000 tonnes of food waste will generate 0.7MW of electricity and 0.25MW of heat.

The energy generated will be pumped into the Binn Eco-Park development after TEG Biogas signed a deal with Binn Farm Ltd, the landlords. The site will be home to a number of renewable energy businesses and is set to open at the beginning of 2011.

The chief executive of TEG said “This AD facility promises to be an excellent showcase to support the many bids for AD plants throughout the UK and we look forward to developing our first venture with Albion Ventures LLP.”.

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Source: lep.co.uk

Clachan Flats Windfarm Officially Open

Posted on July 31, 2010 by Emma

ScottishPower Renewables (SPR) which forms part of Iberdrola Renewables, the world’s biggest producer of renewable energy, has officially opened Clachan Flats, their brand new windfarm, near Cairndow, Argyll and Bute.

At the opening ceremony, SPR chairman Susan Deacon, was joined by the Duke of Argyll and John Swinney MSP, Cabinet Secretary for Finance and Sustainable Growth.

The windfarm, which consists of nine turbines, will be capable of producing up to 15 MW (megawatts) of electricity – which is enough clean green energy to power more than 8,500 homes.

In addition, and forming part of SPR’s continued voluntary commitment to the communities surrounding Clachan Flats, is a new community trust fund designed to support local projects and organisations. The fund will be administered by the Clachan Flats Windfarm Trust in Cairndow and the Inveraray Community Council with approximately £15,000 invested by SPR each year for the 25-year life of the windfarm.

Source: ScottishPower (Press Release)

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