Energy

We’ll all pay the price for reckless energy firms’ gambling

From our UK edition

You know that mate of yours who is always boasting they pay way less for energy than you because they’re constantly surfing for the best deal on price comparison websites? Well they are still going to have the last laugh, even though the energy company that supplied them is going bust. That is because the energy secretary Kwasi Kwarteng promised today that he would protect consumers and keep the official cap on prices, which means that the amount your mate pays for energy will hardly go up at all. And they’ll probably end up paying what you are paying.

Are low wind speeds to blame for Britain’s energy crisis?

From our UK edition

Why has Britain suddenly been plunged into an energy crisis, with day ahead auction prices for electricity rising to over £400 per MWh, ten times what they were this time last year? The spike in global gas prices caused by economic recovery from Covid has been commented on often enough, as has the failure of Britain to maintain sufficient gas storage reserves – we have closed a large gas storage facility as other countries have been building up theirs’. So, too, we have learned of the failure of many smaller energy companies to hedge the prices of their energy, thus putting them at risk of spikes in wholesale prices.

The battle for Eastern Europe’s energy sector

From our UK edition

The fight to power eastern Europe is heating up. As Ukrainian president Volodymyr Zelensky prepares to meet Joe Biden at the White House, competition for Ukraine’s energy market is increasingly being framed as a battle between East and West. And as western investments into renewables vie with fossil fuel imports from Russia, the struggle for the nation’s energy supply is assuming a moral dimension reminiscent of the Cold War. Tens of thousands of panels at Ukraine’s huge Nikopol solar farm harvest the sun’s energy for nobody.

In defence of net zero: yes, we can afford it

From our UK edition

Late in 2013, David Cameron snapped. ‘Get rid of all the green crap,’ the then prime minister told energy ministers. His demand came after a backbench revolt over the surcharges tacked on to household energy bills to support onshore wind power. Not for the last time, his decision was based on a spectacular failure to see one of the big trends of the age: the stunning fall in the costs of renewable energy that was already under way. In the past decade, the cost of generating electricity from onshore wind has fallen by 40 per cent. For offshore turbines, it’s down almost a third. Globally, it’s now generally cheaper to construct and run new renewable generation than it is to build a new station to burn fossil fuels.

Is the airline ‘booking surge’ a load of hot air?

From our UK edition

Be glad you’re not in Dr Mike Lynch’s shoes. A London judge has ruled that the founder of the Cambridge-based software venture Autonomy can be extradited to the US to face multiple fraud charges in relation to the takeover of Autonomy in 2011 by Hewlett-Packard of California. This was, undoubtedly, a disastrous purchase: HP paid a huge premium over Autonomy’s market value, swiftly found all was not as expected, wrote off most of the $11 billion price and accused Lynch of having artificially inflated the company’s numbers. His fate now hangs in the legal balance. The Serious Fraud Office looked at the file but dropped it on grounds of insufficient evidence; meanwhile, judgment in a £3.8 billion civil action against Lynch is not due until September.

The troubling truth about Britain’s nuclear deal with China

From our UK edition

The most shocking thing about the news that the government is looking to remove China from Britain’s nuclear power programme is that it has taken so long. But it will not be a straight-forward process. It will likely provoke tantrums from Beijing, as well as grumbles from a nuclear lobby that will have to find somebody else to stump up the billions needed for their pet projects. China General Nuclear should never have been allowed anywhere near such a critical piece of national infrastructure. The state-owned company has been accused by the US government of stealing technology for military use and placed on a national security blacklist which severely limits US companies from doing business with it. Washington has warned Britain against partnering with the company.

Portrait of the week: Channel crossings, chain-gangs for criminals and Tesco Bank shuts up shop

From our UK edition

Home The daily number of coronavirus cases detected by tests fell from 54,674 on 17 July to 23,511 by 27 July. About 92 per cent of adults in England and Wales had coronavirus antibodies at the beginning of July, according to an estimate by the Office for National Statistics. In the seven days up to the beginning of the week, 447 people had died with coronavirus, bringing the total of deaths (within 28 days of testing positive) to 129,130. (In the previous week deaths had numbered 284.) In a week, numbers remaining in hospital rose from 4,121 to 5,238. By the beginning of the week, 88 per cent of adults had accepted a first vaccination; 70.3 per cent had received two doses.

A tree is for centuries, not just for COP26

From our UK edition

We are being urged — and, in some cases, paid — by the government to plant more trees. Actually, this happens most years. I can even remember ‘Plant a tree in ’73. Plant one more in ’74’. It is a bit like saying ‘Have more babies’, without any provision for their care once born. It all depends which trees, where you plant them and how you tend them. If you walk through the country nowadays, or near new-build housing estates where trees have been planted in ‘mitigation’, you will see large numbers of saplings dead or dying, still in their tree guards, planted too close together and then forgotten. New trees need protection from rabbits, deer, weeds and competition.

How likely is a false positive from a Covid test?

From our UK edition

Positive thinking The government wants us to test ourselves for Covid-19 twice a week, using lateral flow kits which will be freely distributed. What is the risk of being ordered to self-isolate as a result of a false negative? — While the NHS claims that these tests produce false positives in 0.1% or fewer cases, an evaluation by Porton Down and Oxford University last year found a false positive rate of 0.3% in a hospital setting, rising to 0.39% in the community — in other words, about one in every 256 tests. — According to the Office for National Statistics infection survey, in the week to 27 March one in every 370 people were infected (not necessarily showing symptoms) — 0.27% of the population.

Biden vs Merkel: the battle over Russian gas is heating up

From our UK edition

Two months ago, a Russian pipe-laying ship called the Akademik Cherskiy left the Baltic island of Rügen to finish the last few miles of the most controversial gas pipeline in the world. Germany hopes that Nord Stream 2 will improve its access to Russia’s vast reserves of natural gas. In America, however, the project is seen as a way for Moscow to exert influence over Europe. Its completion marks the biggest diplomatic crisis in transatlantic relations since the Iraq War and now, as then, we see Germany pitched against the US. But this time, Germany is far more determined. Since its inception, the pipeline —which runs directly from Russia to Germany — has been opposed by many in Europe who share America’s concerns about dependency on Russian energy.

Letters: The Church of England’s Covid shame

From our UK edition

Paradise lost Sir: After reading Jonathan Beswick (‘Critical mass’, 16 January) I am writing to express the shame I feel as a lifetime member of the Church of England at our Church’s attitude to this pandemic. Here was the greatest opportunity in 70 years to demonstrate care for our fellow people, to advertise our faith and love and to keep the Church in the public eye. I hoped that there would be thousands of Church members flocking to help the lonely and the isolated. But I find my local church locked. This was the chance for the Church to show commitment and sacrifice for the good of the community, to cast aside timidity and get on with normal life, as does the postman, the milkman, the parcel delivery brigade, the health service and many others.

Letters: Lockdowns ruin lives

From our UK edition

Lockdown damage Sir: I am sick and tired of people taking the moral high ground and looking down on ‘lockdown sceptics’ like me as if we don’t care. It’s ironic, because while there is no clear evidence to date that national lockdowns actually save more lives (contra the interview with Matt Hancock, 9 January), there is plenty of evidence that lockdowns ruin lives. If anyone should take the moral high ground it is those, like myself, who witness this ‘collateral damage’ on a daily basis. Yes, the health issues are complex. And who would want to govern at this time?

My memories of Sir David Barclay

From our UK edition

Even with its 27 amendments, the US Constitution is only 7,591 words. I keep it beside me, and find in it — as Sir Walter Elliot found in the Baronetage — ‘occupation for an idle hour, and consolation in a distressed one’. The final part of Section 3 of Article 1 is relevant in this distressed week: ‘Judgment in Cases of Impeachment shall not extend further than to Removal from Office, and disqualification to hold and enjoy any Office of Honor, Trust or Profit under the United States.’ To use, after Donald Trump’s departure, a device designed to remove a president seems strange.

Letters: Is cycling really conservative?

From our UK edition

Veritas vincit Sir: Professor Dawkins eloquently and engagingly defines true truth for us (‘Matters of fact’, 19 December). It seems to me that ‘true’ is a poor little four-letter word with a heavier workload than is reasonable. Historic truth may include ascertainable facts, which I suppose he would pass, but combined with conclusions based on available evidence or ‘true-to-life’ conjecture. Theological truth combines historic fact with unassailable moral principle and a journey of imagination beyond the reach of experience. It cannot be called untrue — only unproven. Perhaps we need to find a word with more gravitas than ‘truth’ for the scientists. I suggest ‘veritas’ — as found in vino.

Building Sizewell C would be a nuclear-sized disaster

From our UK edition

I love Suffolk. This Christmas I will be there with my family and we’ll almost certainly walk up the coast, joining dog-walkers, bird-watchers, hikers and even swimmers in one of the most beautiful and unspoiled parts of the UK. The secret of Suffolk is its relative inaccessibility. No major motorway connects it and once you arrive you’re committed to a sprawling network of country lanes that twist through heathland and grazing marsh, mudflats and reedbeds. Minsmere, a nature reserve that’s home to 6,000 wildlife species, is among its glories. The nightjar, the woodlark, the Dartford warbler and the silver-studded butterfly are just some of the rare species found there. At least for the time being.

Ruthless Ryanair could show us the future of aviation

From our UK edition

Aviation, nuclear power and public transport — along with good restaurants, golden retrievers and hand-knitted bed socks — are, as Julie Andrews put it, a few of my favourite things. So in a week when the news is as depressing as I can remember since the dark winter of 1973-4, I might as well write about all of them. I’ll try to find points of light along the way but it’s not going to be easy. First the plight of airlines, now so extreme that it’s hard to foresee any outcome other than nationalisation for many major carriers. Even if the new ban on leisure travel ends, only pre-flight Covid testing and reduced quarantine can boost passenger numbers in the short term, while transatlantic routes will take years to recover.

Why fracking matters

Sigmund Freud famously noted that sometimes a cigar is just a cigar. In the case of fracking, even Freud would have acknowledged that fracking is about so much more than just fracking. That is why the issue is so important to voters beyond those in Ohio, Pennsylvania, and Texas where so much oil and natural gas is produced. That is also why Joe Biden and Kamala Harris have tried to walk back their positions on fracking from the Democratic primary, when they said they’d ban fracking and cease the use of carbon-based energy sources, as well as push for the budget-busting and progressive utopian Green New Deal. Of course, it’s about jobs.

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The Blackburn brothers who are bringing Asda home

From our UK edition

What a triumph of entrepreneurial empire-building — if that’s still an acceptable phrase — is the £6.8 billion acquisition of the Asda supermarket chain by Blackburn-born self-made billionaires Mohsin and Zuber Issa. Sons of Gujarati immigrants, these brothers have advanced from a single petrol station in Bury to a chain of almost 6,000 in ten countries with convenience stores and coffee shops attached. Now their company EG Group has brought Asda back into British ownership after two decades as part of Walmart, the big-box monster of American shopping.

It’s all about Ohio

Dublin, Ohio Since the presidential election of 1944 when Ohio went with loser Thomas Dewey over winner Franklin Roosevelt, Ohio voters have given majority support to every presidential winner except one. The sole ‘error’ occurred in 1960 when Ohio went with loser Richard Nixon over winner John F. Kennedy. That means Ohio has gone 14 straight elections, or 60 straight years, picking the winner. No other state carries such a distinguished record. With Joe Biden barely campaigning in Ohio and Donald Trump covering the state — signs point to Trump again winning Ohio in 2020, albeit with a smaller margin. Nevertheless, will Ohio be wrong this year? Don’t bet on it. For years, Ohio’s slogan was ‘The Heart of It All!

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Who would want to come to Britain for a holiday now?

From our UK edition

All logic suggests that the 14-day quarantine for arrivals from abroad really is, as Michael O’Leary of Ryanair put it, ‘a political stunt’. The best explanation is that it was conceived in Downing Street — with minimal consultation, unless someone rang Armando Iannucci, writer of The Thick of It — as a sop to focus-group xenophobia and parental anxiety, as well as a show of grip after the Dominic Cummings debacle. Its absurdity is highlighted by news that the West Indies cricket squad is now quarantined, while 122 high-goal polo players were reported to have beaten the deadline by slipping in last Saturday on a charter flight from Buenos Aires via the Covid cauldron that is São Paulo in Brazil.