DONG Energy Reduces Investment Plans
DONG Energy – one of Northern Europe’s leading energy groups based on procuring, producing, distributing, trading and selling energy – has announced plans to decrease its net investment programme in 2010 and 2011 to reduce its debt load whilst strengthening its capital structure.
The Danish business advises that it is likely to decrease net investments to US $1.98 billion in 2010 and US $1.98-$2.97 billion in 2011 compared with earlier proposed levels of US$2.97-3.96 billion for both years.
Through investing, DONG is expecting to attain a net interest-bearing debt which is the equivalent to nearly treble its EBITDA in 2010, and the company is to focus more on renewable energy while achieving its 2020 target of lowering carbon dioxide emissions per produced MW/h by 50%.
The financial results for 2009 will not be affected by the proposed investment cuts, said DONG.
Source;
e-news @ powertechnology.com
http://www.power-technology.com/news/news66320.html?WT.mc_id=DN_News&mxmroi=14002247/2207106/false
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Scotland’s Centre of Energy Excellence
Gas and Electricity supplier Scottish and Southern Energy (SSE) are teaming up with the University of Strathclyde to establish a Centre of Engineering Excellence for Renewable Energy that will be created in Glasgow with £2.8 million support from the Scottish Government.
Scottish first minister Alex Salmond stated that renewable energy is at the heart of Scotland’s new economy and society, along with carbon capture and greater energy efficiency. He continued by saying that to achieving ambitions requires a strong partnership between Government, industry and the wider public sector.
Mr. Salmond also confirmed that this shows a significant commitment and investment by SSE in Glasgow and in Scotland by creating 250 high quality jobs while safeguarding a further 70 positions. Furthermore the initiative will position Glasgow at the epicentre of a key strand of 21st century engineering, in the same way the city dominated the engineering ages of the past.
Ian Marchant, SSE’s Chief Executive stated:
“Our Centre of Excellence which will be known as CEERE will play a crucial part in helping Scottish and Southern Energy to realise its renewable energy goals in the UK, Ireland and elsewhere in Europe, helping to secure energy supplies and contributing to the development of a lower carbon economy”
Source;
Utilityweek.co.uk/ News/ Electricity
http://www.utilityweek.co.uk/news/uk/electricity/scottish-and-southern-energy-t-1.php
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Japan Buys Latvia’s Emission Rights
In a report by The Japan Times Online – Japan has confirmed an agreement with Latvia to acquire rights to emit 1.5 million tons of greenhouse gases in terms of carbon dioxide – in a bid help achieve the country’s reduction goal under the 1997 Kyoto Protocol.
Japan has acquired the rights directly from the Baltic state under the green investment scheme – a mechanism in the framework of international emissions trade that requires the rights-selling country to use the funds for projects aimed at reducing greenhouse-gas emissions.
Earlier this year, Japan used a similar mechanism which allowed it to buy gas-emission rights from Ukraine and the Czech Republic.
Source;
e-News @ newenergyfinance.com
ttp://search.japantimes.co.jp/cgi-bin/nb20091007a6.html
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E.ON makes Waves with Pelamis
One of the UK’s “Big Six” energy suppliers, E.ON, has teamed up with renewable electricity generator Pelamis Wave Power to deploy the company’s second-generation Sea Snake in Orkney in the spring of 2010.
The device consists of four sections which generate electricity by harnessing the motion of waves and is scheduled to be deployed at Orkney’s European Marine Energy Centre for testing, according to Reuters news.
Wave power is more expensive to develop than the higher profile wind turbine technology, however, the Carbon Trust has estimated that 20% of Britain’s future energy demands could potentially be met by harnessing power from waves.
E.ON’s marine development manager, Amaan Lafayette, said that they would like to see a small-scale plant of their own in the water by 2015-2017, built around what the project is doing in Orkney, he also explained that it is a kind of energy generation that they haven’t done before.
Source;
Energyhelpline.com/ Gas & Electricity News
http://www.energyhelpline.com/news/article.aspx?aaid=19394577&y=2009&m=10&w=1&pid=1
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Enel supplies Electric car charging stations
Enel produces and sells electricity and gas across Europe, North and Latin America, and is now established in 21 countries around the world. As reported by utilityweek.co.uk Enel has confirmed that they have signed agreements with the mayors of Rome and Pisa allowing them to deliver electric car charging stations.
The energy firm will install 150 charging points in Rome and 100 in Pisa, which will be in operation by September 2010.
The project will act as a pilot scheme in Italy’s capital, where Enel is planning to use the information and experience it gathers during the pilot that will help develop a service system that “meets the real needs of drivers” allowing users the ability to charge their cars at home and at public charging points.
Source article;
http://www.utilityweek.co.uk/news/europe/enel-to-deliver-electric-car-c.php
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Switching Energy Suppliers
If your 2008 fixed energy price plan is due to end soon, it is important to know exactly when your fixed price plan end date is, so that you can prepare and subsequently avoid sudden increases in your gas and electricity. However, you do need to be extremely careful that you avoid incurring penalty fees if you switch to another energy supplier too early – Switch usually takes a lead time of 6 weeks, so you should be safe to begin the switching process within the last 6 weeks of your fixed contract.
Utilising the information supplied by uswitch.com, a UK-based price comparison and switching website, work out from the following table if your fixed plan contract is due to end, alternatively review the energy suppliers penalty fees that may applicable should you terminate your agreement early:
Fixed price plan name Plan end date Penalty Fee
npower one 31/07/2009 No
ScottishPower Fixed Price Energy 2009 31/08/2009 £30 electricity and £20 gas
ScottishPower Fixed Price Energy 2009 NSC 31/08/2009 £30 electricity and £20 gas
ScottishPower Fixed Price Energy 2009 Online 31/08/2009 £30 electricity and £20 gas
ScottishPower Fixed Price Energy 2009 Online NSC 31/08/2009 £30 electricity and £20 gas
ScottishPower Fixed Price Energy October 2009 30/09/2009 £30 electricity and £20 gas
ScottishPower Fixed Price Energy October 2009 NSC 30/09/2009 £30 electricity and £20 gas
ScottishPower Fixed Price Energy October 2009 Online 30/09/2009 £30 electricity and £20 gas
ScottishPower Fixed Price Energy October 2009 Online NSC 30/09/200 £30 electricity and £20 gas
E.ON Energy Saver v1 – v4 01/10/2009 £35 for dual fuel customers
E.ON Price Protection 2009 v14 – v17 01/10/2009 £35 for dual fuel customers
British Gas Guarantee December 2009 31/12/2009 £20 electricity and £55 gas
If you are still unsure of your full contract details, simply contact your supplier for further details, alternatively you can contact Utility Exchange for advice because switching energy suppliers really does save you money, and here at Utility Exchange we do all the hard work for you. Every day Utility Exchange research the utility markets and industry news so that you can be assured you’re paying the best business and electricity prices and gas rates available. Simply click on Electricity Quote or Gas Quote and see how much you can save.
Source;
Uswitch.com/ Gas & Electricity/ Fixed Price Energy Info
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Consumers view Gas and Electricity consumption
People will only feel the real benefits of smart meters if they come with live screens displaying energy usage – according to new Energy Saving Trust research, smart meters will only become effective if consumers are able to see how much energy they are actually using.
Smart meters will put an end to estimated gas and electricity bills, as they will have the ability to send accurate usage information directly to the energy suppliers, and the government is hoping to have smart meters in all UK homes by 2020.
However, research indicates that displaying the information makes consumers far more aware of their day-to-day energy consumption, so, if these meters are installed without visual displays, energy efficiency body – the Energy Saving Trust – believes it will be a “missed opportunity”
The Energy Saving Trust’s focus group research discovered the following:
• Consumers would like to be able to see their real-time rate of gas and electricity usage – shown on a cost per day basis
• Most people would also like to be able to see their consumption in watts or kilowatts per day for their electricity
• All consumers would like to see a measure of cumulative usage
The Energy Saving Trust is the leader in the field of delivering energy efficiency to domestic, business, local government and trade sectors, and is urging the government to make energy companies install visual displays alongside all smart meters.
Source;
Energychoices.co.uk/ energy news
http://www.energychoices.co.uk/smart-meters-must-have-visual-displays-06102009.html
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Opus Energy runs for money
Opus Energy, a leading independent supplier of gas and electricity to the business sector, supply’s energy to more than 50,000 properties across the UK – Many of which are small and medium sized businesses. In a bid to raise £3000 for a local charity – Opus Energy is sponsoring two employees to run in the New York Marathon on Sunday 1st November – their challenge, forming part of a wider pledge by Opus Energy to raise £10,000 for the Friends of Cynthia Spencer Hospice.
The employees; Neil Robinson, a Credit Controller and Tanya Matchett, a Credit Control Team Leader for Opus Energy are both novice runners and have never run in a competitive race before.
The duo will become the 7th and 8th employees from Opus Energy to enter the New York marathon as part of an initiative the company started in 2007 – each year, Opus Energy pays for the travel costs, hotels, and entry fees for the chosen employees, and encourages them to achieve a challenging personal goal, as well as raise funds for an important local cause.
MD and founder of Opus Energy, Charlie Crossley Cooke stated:
“This is the third year we have offered Opus Energy employees the opportunity to complete the New York Marathon. It’s a great way to support and raise money for a local charity. We are one hundred percent behind Neil and Tanya and wish them both the best of luck”
Source;
Opusenergy.co.uk/ News
http://www.opusenergy.co.uk/module/page-166/nID-122/item_action-view_item/item-opus-energy-sponsors-two-employees-to-run-the-new-york-marathon/
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Top Energy Supplier profits from power
One of the UK’s top six energy firms Scottish and Southern Energy is expected to announce a doubling of its profits, reports energyhelpline.com – news that could see customers switching energy providers.
It has been predicted that the company, which supplies gas and electricity, will announce pre-tax profits of almost £600 million for the second half of this year, which is double the figure recorded for the end of 2008, the Daily Mail reports.
This information is likely to anger many consumers, who will now wonder why the energy company has not introduced more substantial price cuts over the last few months, given its increase in profits. As well as not receiving reduced gas and electricity rates as the wholesale energy prices have fallen considerably since summer 2008.
According to the newspaper article, David Hunter, an energy consultant at independent consultancy McKinnon and Clarke, said the fact that suppliers are still failing to pass on massive reductions in energy prices, which they have been benefiting from themselves for nearly a year now, is approaching scandalous proportions.
Energy suppliers used to respond to this sort of criticism by saying that they buy their stocks in advance so price reductions can take several months to reach the consumer, and that they also need capital to fund developments in renewable energy.
If you want to save money on your gas, electric, telecom and mobile bills, simply request a quote from www.utility-exchange.com we compare the market so you don’t have to – saving you time, energy and most of all money.
Source;
Energyhelpline.com/ Gas and Electricity News
http://www.energyhelpline.com/news/article.aspx?aaid=19392396&y=2009&m=10&w=1&pid=1
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Siemens gets Smart
Siemens AG is Europe’s largest engineering corporation within three main business sectors: Industry, Energy and Healthcare (totalling 15 Divisions)
With a wide range of products, including communications services, power generation, IT and Business services, Siemens has teamed up with Electralink – the providers of the Data Transfer Service in the electricity market – to demonstrate a central communications gateway for smart meters, the next generation of electricity and gas meters.
Working in partnership with ElectraLink and with technology partners Software AG and eMeter – the leader in enterprise-class advanced metering information system solutions for electric, gas and water utilities – Siemens has developed a demonstration system that shows how a central communications gateway can provide access to, and control of, smart meters.
Siemens’s demonstration platform of ElectraLink’s Smart Interoperability Portal provides a suite of business capabilities that provide a set of on-demand services which support Smart business processes that are enabled through Smart meter deployment.
Source;
Utilityweek.co.uk/ News/ Utility Engineering
http://www.utilityweek.co.uk/news/uk/utility-engineering/post-6.php