Energy

It’s officially Spring, bringing it with the prospect of sunshine, longer days and warmer weather. So you could be forgiven for breathing a sigh of relief over falling energy bills. Not so fast. Thousands of homeowners are set for energy bill hikes in the next two weeks, with 29 fixed-rate tariffs due to expire at the end of March. According to the price comparison website MoneySuperMarket, customers on these tariffs are likely to face automatic bill increases of up to £252, with providers rolling them onto standard tariffs, which are typically their most expensive. Given the historic nefarious practices of some energy companies, it should come as no surprise that

Home David Cameron, the Prime Minister, spent time in Brussels before a meeting of the European Council to see what it would allow him to bring home for voters in a referendum on Britain’s membership of the European Union. The board of HSBC voted to keep its headquarters in Britain. Sir John Vickers, who headed the Independent Commission on Banking, said that Bank of England proposals for bank capital reserves were ‘less strong than what the ICB recommended’. The annual rate of inflation, measured by the Consumer Prices Index, rose to 0.3 per cent in January, compared with 0.2 per cent in December. Unemployment fell by 60,000 to 1.69 million. A

EDF has bought itself some valuable time over its decision about whether or not to build a new nuclear plant at Hinkley Point. The energy giant said it was going to be extending the life of four of its nuclear power stations in the UK. Heysham 1 and Hartlepool will now stay open for another five years, until 2024; whilst Heysham 2 and Torness won’t shut until 2030. The decision means several thousand people will stay in work. More significantly perhaps, it also helps ease some worries that Britain may struggle to keep the lights on in the future, by ensuring plants which generate about a quarter of electricity in Britain

Amid all the turmoil in global energy markets, we should not lose sight of the UK power programme that we’re praying will keep our lights on a decade hence: it is, as you know, a hobbyhorse of mine. So how’s it going down at Hinkley Point in Somerset? My man with big binoculars in the Bridgwater Bay nature reserve tells me he’s seeing plenty of lorry movements on the nuclear site, but signals from EDF of France — which has a two-thirds interest in this £18 billion project, alongside Chinese investors — are very worrying. Having already spent £2 billion, the French state utility has deferred until at least the

In 2007 Vincent de Rivaz, chief executive of EDF’s UK arm, made the now-infamous promise that by Christmas 2017 we would be cooking our turkeys using energy generated at Hinkley C nuclear power station. That has already been put back to well into the 2020s. But if you are making plans for Christmas 2025 it might be an idea to base them around eating cold turkey sandwiches by candlelight around a wind-up gramophone. The French newspaper Les Echos reports today that an EDF board meeting about Hinkley has been postponed, amid fears that EDF is having more problems funding the project. EDF has already looked to China’s Nuclear Power Corporation,

Ahead of the Paris climate conference, there is intense focus on the carbon policies of governments around the world. To reduce global warming, we need to find cleaner ways of generating electricity. But we also need to think about how we transmit energy across smarter grids, and how we use the energy we already produce more efficiently. Measures to secure supply and manage demand are equally important. Both were covered in depth at our ‘Smarter Britain, Smarter Environment‘ event earlier this month. Top speakers – Lord (Gus) O’Donnell, Jonathon Porritt CBE, Sara Bell, Robert Denda and Lord Bourne – considered what was described by Porritt as ‘the biggest challenge humankind