Connect to share and comment

Britain hints at possible break-up of British Gas

Britain urged regulators Monday to launch a full-scale probe into profit margins in the domestic gas market, and hinted that Centrica unit British Gas could be broken up. Energy Secretary Ed Davey, a Liberal Democrat member of Conservative Prime Minister David Cameron's coalition government, made the appeal in a letter to energy watchdog Ofgem's head Andrew Wright. The letter marks the latest twist in a political row over Britain's high cost of living, ahead of a general election due in May 2015.

Too soon to know if leak caused UK radioactivity incident: industry body

LONDON (Reuters) - Britain's Nuclear Decommissioning Authority (NDA) said it was too early to know if a leak was the cause of elevated levels of radioactivity detected at the Sellafield nuclear reprocessing plant. "It is far too early to say there is a leak," Bill Hamilton, a spokesman said. "Everything being done is precautionary. There is no danger to the workforce, communities or wildlife. At the moment we don't know where the radiation is coming from." The NDA is a public body that reports to Britain's energy ministry.

First Nations deeply mistrust energy sector: university study

CALGARY - A university study suggests Canada's First Nations harbour a deep mistrust of the oil and gas industry, but are willing to talk energy development if it can be proven to be beneficial to them. The study by the University of Calgary's School of Public Policy surveyed 300 individuals by phone and online in aboriginal communities across the country between July 6 and July 15. The goal was to get a better idea of how First Nations view the industry and how knowledgeable they are about energy-related issues.

Insight: UK power price rises prompt questions of network owners, regulator

By Tom Bergin LONDON (Reuters) - In 2006, Britain's energy regulator reviewed how the gas and electricity market was functioning. Summarizing its findings, it noted the possibility that its rules on pricing had been overly generous to the network owners. The report was one of many produced by regulator Ofgem, tasked by the government with overseeing an industry that was broken up and sold off by the state during the 1980s and 1990s. The report went little noticed at the time.

UK energy bosses blame politicians for price rises

By William James and Sarah Young LONDON (Reuters) - The six energy companies that dominate Britain's energy market defended steep price hikes on Tuesday, blaming rising costs and political interference as a panel of lawmakers accused them of abusing their market position at consumers' expense.

Anglican leader pressures British energy giants over price rises

By Peter Griffiths LONDON (Reuters) - The Archbishop of Canterbury, spiritual leader of the world's Anglicans, weighed into Britain's debate over energy prices on Sunday, calling on companies to justify the latest rises and siding with cash-strapped families. Justin Welby, a former oil company executive who has taken on the corporate world several times since starting the job in January, said suppliers should be "conscious of their social obligations".

British Gas fuels energy price hike strains

Britain's biggest domestic energy provider increased electricity and gas prices on Thursday, further stoking a political row over the high cost of living for millions of Britons. Centrica said in a statement that its British Gas division would ramp up prices for electricity and gas by 10.4 percent and 8.4 percent respectively. The move followed similar hikes by rival SSE last week. SSE and British Gas are the first two of Britain's 'Big Six' energy providers to raise prices ahead of Britain's winter, which is the peak demand season for energy.

British regulator proposes electricity market shake-up

Britain's energy watchdog on Wednesday proposed changes to prize open the grip of big suppliers on the wholesale electricity market and increase choice for consumers. The objective was to create "a more level playing field", over concerns about the pricing power of eight companies. The driiving idea behind the change is to increase competition and improve opportunities for small suppliers.

EU urges reform of Bulgaria troubled energy sector

Brussels recommended Tuesday far-reaching reforms to Bulgaria's troubled energy sector as well as measures like better insulation, as a solution to high electricity bills that have prompted public anger in the EU's poorest country. The European Commission review, requested by Sofia in the aftermath of massive street rallies that ousted the conservative government in February, criticised the "complex and non-transparent structure and functioning" of the electricity sector.

British energy firm SSE hit by record £10.5-mn fine

Britain's energy watchdog on Wednesday said it planned to fine utilities company SSE a record £10.5 million ($15.8 million, 12.4 million euros) for "prolonged and extensive" mis-selling of products to customers. "Ofgem has today published its intention to fine SSE £10.5 million for numerous breaches of its obligations relating to telephone, in-store and doorstep sales activities," the watchdog said in a statement.
Syndicate content