Saturday, February 01, 2014
British Gas profit plunges after families take revenge for price hikes
Warm December to hit British Gas profits
Laugher crowned British Gas National Cup champion
Friday, January 31, 2014
Former SSE energy chief Marchant to head up Wood Group
Natural Gas price rallied to 4-year high
Natural Gas Futures Decline as Milder Weather Likely to End Cold Snap
British nuclear plant says radiation alert caused by natural radon gas
Press release: UK and France sign declaration on nuclear energy and agree cooperation on ambitious climate change action
The declaration, which comes ahead of national leaders' discussions over the EU's 2030 energy and climate policy framework, reiterates the two Governments' shared view that nuclear power has a critical role to play in a cost-effective low carbon transition.
The move is the latest in a string of UK-French initiatives on energy and climate policy, including successfully pushing for the European Commission to propose a 40% EU domestic emissions reduction target for 2030, reflecting the importance of giving national governments flexibility over their own energy mixes and securing reform of the Emission Trading System.
The declaration paves the way for the two Governments to collaborate on constructing new nuclear power stations, to maximise opportunities for SMEs in nuclear supply-chains and to fund joint training and skills centres.
During the Franco-British Summit, hosted by the Prime Minister at RAF Brize Norton in Oxfordshire, the Secretary of State for Energy and Climate Change Edward Davey and French Energy Minister Phillipe Martin met to discuss how the two countries can further work together to develop interconnectors, nuclear and renewable energy projects; secure an ambitious and early EU 2030 energy and climate package; and deliver a global climate deal at the Paris hosted UN climate conference in 2015.
Edward Davey said:
Our two countries have a shared interest in tackling climate change and developing low-carbon secure electricity which provides new green jobs and investment.
Today, we reiterated our resolve to work together towards achieving an ambitious and legally-binding agreement at the next COP in Paris in 2015, and to support an EU-wide emissions reduction target of at least 40% by 2030.
To unlock the full benefits of the single energy market, European countries need to become more interconnected. So today, we agreed to continue our work to build more electricity interconnectors between our two nations.
Our partnership on nuclear power has already borne fruit, with this Government's agreement with EDF on key commercial terms for an investment contract that would enable Britain's first new nuclear power station in a generation to be built at Hinkley Point in Somerset.
The declaration we have signed today will further enhance this relationship, allowing us to explore further commercial opportunities to develop nuclear power, and to enhance our expertise and skills in this sector.
The French and UK Government have agreed to:
Engage constructively with the European Commission's State aid consultation on Hinkley Point C to demonstrate that the project meets State aid rules.
Work together to maximise opportunities for SMEs in nuclear supply chains
Develop skilled workforces through investing in joint training programmes and in research and development.
Enhance capabilities in civil nuclear emergency planning and security.
Notes for Editors
SUMMARY OF 2014 SUMMIT DELIVERABLES
NIA / PFME AGREEMENT ON SME's
The Nuclear Industry Association (NIA) and Partenariat France Monde Electricité (PFME - a French organization which comprises 70 SMEs that are qualified suppliers of EDF for the French nuclear programme) have agreed to sign an MoU to the form the basis of cooperation with a view to helping members of the SME Partnership and PFME to develop their business interests in both countries as well as overseas. The broad objective is to enhance dialogue, information exchange and communications between the two organisations.
AREVA / NATIONAL SKILLS ACADEMY FOR NUCLEAR
AREVA has committed to offering strategic and practical support to the National Skills Academy for Nuclear for the development of UK nuclear energy skills. Specifically, AREVA will provide a total of £100k to the Supply Chain Apprentices for Nuclear Programme managed by NSA Nuclear. The funding is to create approximately 20 additional apprenticeships in the UK nuclear manufacturing supply chain and to provide additional professional training to existing apprentices. In addition, the company will provide executive-level strategic manpower to work with NSA Nuclear in its role as the lead strategic skills body. This includes chairmanship of the National Skills Academy Nuclear for manufacturing and also to support the Nuclear Industry Council Skills Workstream.
IMPERIAL / CEA
Imperial College London and Manchester University have been awarded grants from the UK's Engineering and Physical Sciences Research Centre (EPSRC) to act as centres for Doctoral Training for nuclear studies. As such, each university will lead a small group of UK universities to coordinate UK PhD training on nuclear related subjects. Under this scheme, Imperial and Manchester are interested in working with the CEA, France's nuclear research organisation, to allow their PhD students access to CEA's considerable expertise and world-leading research facilities. Talks have been on-going for the past year. Although a formal full joint chemo (jointly funded programme with co-badged degree certificates) is unlikely to be the solution due to the universities' administrative constraints, talks will continue in 2014 to explore and agree on the exact nature of the collaboration.
EDF / IMPERIAL COLLEGE LONDON
EDF has a long-standing relationship with Imperial's Energy Futures Laboratory and the Centre for Nuclear Engineering. The collaboration covers research, education and training on nuclear engineering and fields related to the generation and distribution of electricity. Imperial and EDF have agreed to expand the existing relationship over the next five years to cover subjects relating to the new build programme (civil engineering, concrete ageing, waste), energy management (especially linked to renewable energy) and end user demand.
EDF / BRISTOL UNIVERSITY
Bristol University, on behalf of the South-West Nuclear Research Hub, have been negotiating an agreement which would see investment from and partnership with EDF. This collaboration will cover the safe operation of civil nuclear power generation systems in the UK and will contribute to EDF's research into new build and decommissioning.
NNL / AREVA
Through a letter of intent, both organisations will work more closely together on developing nuclear fuel cycle technology, building on the NNL's involvement in the UK's Nuclear Fuel Centre of Excellence. They will also collectively look at technologies to enhance existing plant lifetime.
NNL / CEA
Through a later of intent, the two organisations will build on an existing MoU to enhance cooperation on advanced fuel and reactor technologies, particularly with regards to the ASTRID fast reactor.
EDF / NNL
EDF engagement with UK research organisations continues to grow and has been further with agreements to strengthen research collaborations with the University of Bristol and Imperial College London (see above) in addition to the National Nuclear Laboratory (NNL) collaboration. This adds to an existing portfolio of cooperation agreements with the Universities of Strathclyde, Manchester and UCL, the Energy Technologies Institute and the public sector organisations such as the Research Councils and the Technology Strategy Board.
UPDATE ON NUCLEAR RELATED AGREEMENTS MADE AT 2012 UK-FR SUMMIT
CIVIL NUCLEAR SECURITY
The Framework for Cooperation on civil nuclear security, signed at the 2012 Summit, facilitates the sharing of good practise around the security of civil nuclear materials at power plants and during transportation. Joint work under the Framework includes the exchange of information, study visits and observation of training exercises by Government Departments, nuclear regulators, the UK's Civil Nuclear Constabulary and the Gendarmerie. Under the agreement we have had round table discussions in London and Paris to explore respective practises in guarding, communications, and effective implementation of security regulations and papers are being developed to capture best practise for wider rollout. The next meeting is in France in summer 2014 and could potentially involve a visit to a nuclear site to see security measures in practice.
EDF / BRIDGWATER COLLEGE ( world class training centre initiative)
Working in partnership with EDF, Bridgwater College opened the Construction Skills and Innovation Centre in March 2013. Financed by EDF at a cost of £1.5m, it is a specialist civil engineering and construction trades training facility designed to provide local capacity for the Hinkley Point C development as well serving both regional and national infrastructure demand in the future.
I2EN / NATIONAL SKILLS ACADEMY FOR NUCLEAR
Since the 2012 agreement, and at the request of I2EN, NSAN have hosted a meeting with PGE to share learning and best practice on the development of competency frameworks. In addition, NSAN brokered a meeting between Manchester University and I2EN which led to an event that considered the potential for higher-level placement opportunities between France and the UK.
NNL / CEA
The NNL have taken on the management of the UK's interest in the Jules Horowitz Research Reactor, based at the CEA's Cadarache facility in the south of France. This involves close co-operation as part of the programme board for the reactor. In addition, there was a set of NNL & CEA meetings held in December that have coalesced into the terms for the new letter of intent on ASTRID working.
AREVA / ROLLS ROYCE
Both companies continue to cooperate closely and constructively in the development of a components programme for use in Areva's UK EPR fleet and specifically in the development of a components manufacturing facility in the UK. While no final investment decisions have yet been taken, and negotiations continue as to work share, site location and scope.
ELECTRICITY INTERCONNECTORS
The British and French electricity markets are already linked by a 2GW interconnector, IFA. In 2013 the UK and French Governments supported three further potential links to become European Projects of Common Interest (PCI): ElecLink, Fablink, and IFA2. Subject to regulatory approvals at the national and European levels, a final investment decision on ElecLink is anticipated in mid-2014 with the link becoming operational towards the end of 2016.
Impact assessment: Smart meter roll-out for the domestic and small and medium non-domestic sectors (GB): Impact Assessment
Impact Assessment of the roll-out of smart meters to the domestic and small and medium non-domestic sectors in Great Britain.
Research and analysis: Preliminary report on the Renewable Heat Premium Payment metering programme
This report is the first publication containing data from the Renewable Heat Premium Payment heat pump metering programme.
More than 700 sets of high-frequency, high-resolution metering equipment have been installed on heat pumps in people's homes. By comparison with the EST's heat pump field trial, the results are encouraging.
Corporate report: DECC equality information: 2014
Under the Public Sector Equality Duty (the Equality Duty), part of the Equality Act 2010, the Department of Energy and Climate Change has a specific duty to publish relevant proportionate information to demonstrate our compliance with the Equality Duty. This report focuses on information about the DECC workforce. Information on our service users and the impact of our policies is published on our internet site.
Ukraine protests: Amnesty given as President Viktor Yanukovych faces pressure from Moscow
Ukrainian political crisis continues as anti-government protesters reject president's amnesty offer
SSE National League Two South Round 20 review web wk 05
Energy efficiency project guarantees multi-million pound savings for Nottingham University Hospitals
The project will see E.ON working with the hospital's support services and construction partner, Interserve, to upgrade the QMC campus's combined heat and power plant - which generates heat and hot water as well as electricity for use across the site - as well as install energy saving measures including boiler optimisation technology, low energy LED lighting and building energy management controls.
The improvements will be delivered through the NHS SBS Carbon and Energy Fund (CEF) procurement framework under an Energy Performance Contract (EPC) which means the investment in new technologies can be carried out with no upfront cost to the hospital and will be paid back through the savings which have been guaranteed by E.ON.
The energy saving and conservation measures are guaranteed to bring savings in the region of £2.8 million a year by reducing energy costs and carbon emissions.
Nottingham University Hospitals NHS Trust (NUH) assistant head of estates Andrew Camina said: "At NUH we are committed to doing all we can to save energy and reduce our carbon emissions. We are delighted to be working with E.ON and Interserve to do what we can to reduce energy costs and emissions and look at more innovative ways of reducing energy use."
Paul Baan, head of energy efficiency at E.ON Connecting Energies, said: "We have enjoyed a strong working relationship with NUH for nearly two decades and this new agreement is a much-welcomed vote of confidence in our abilities to work with NHS Trust management and to help them meet their business and financial objectives.
"Winning this large and complex contract means that we will not only be able to update E.ON's long-standing involvement with NUH but we'll also be installing new technologies to dramatically reduce energy costs and carbon emissions for the hospital.
"Across the country the NHS faces huge challenges in terms of budgets and Government-mandated environmental targets. No two hospital buildings are the same and the savings on offer will vary across different NHS operations but EPCs effectively offer an energy efficiency service which guarantees savings and a return on investment to Trusts across the country."
The measures are expected to deliver carbon reduction of 16,000 tonnes and cost savings of £2.8 million a year across the Trust, based on current pricing levels. An EPC allows an organisation to improve the energy efficiency of its buildings without having to raise the upfront capital itself, instead paying back the initial investment through the cost savings guaranteed in the agreement.
The upgraded equipment, combined with the new energy saving measures, will help the QMC Trust comply with new EU environmental regulations regarding greenhouse gas emissions and go towards nationwide NHS targets of reducing carbon emissions by 80% by 2050.
Combined heat and power (CHP) plants generate useable heat and hot water at the same time as electricity. E.ON has owned and operated the CHP system at the hospital for more than 15 years. The existing plant generates 4.9MW of electricity from a single gas turbine and the waste heat recovery boiler produces 12 tonnes of steam per hour. This is used for heating, cooling (via absorption chillers) and equipment sterilisation. Standby power supplies come from the local electrical grid into which the plant can also export, and steam backup comes from other boilers.
Nottingham University Hospitals NHS Trust is one of the biggest and busiest in England providing care to over 2.5 million residents of Nottingham and surrounding communities and specialist services to a further 3-4 million people from neighbouring counties. The Trust has three main sites with the QMC as the emergency care site.
Ends
Notes to editors:
About E.ON
- E.ON is one of the UK's leading power and gas companies - generating electricity, retailing power and gas, developing gas storage and undertaking gas and oil exploration and production. It is part of the E.ON group, one of the world's largest investor-owned power and gas companies. E.ON employs around 12,000 people in the UK and more than 72,000 worldwide;
- In the UK, E.ON supplies power and gas to around five million domestic, small and medium-sized enterprise and industrial customers. E.ON also offers innovative energy services and technologies tailored to meet its customers' needs, and is helping customers become energy efficient by encouraging them to insulate their homes, moderate their energy usage and even generate their own power;
- E.ON has been voted Britain's best energy supplier for the second year running in the uSwitch.com Customer Satisfaction Awards. The independent report and awards are published annually and are based on a YouGov poll of over 5,000 energy customers;
- E.ON discusses changes with its customers through its 28,000-strong YourSay panel and its 1,000-strong MySay employee panel, and also through conversations with consumer advocacy groups. Improvements made to date include new tools to help customers use no more energy than they need, simpler products, transparent profits, fair prices, easier contact, and the confidence to complain;
- E.ON's generation portfolio includes world-class gas-, coal- and biomass-fired power stations. E.ON is a market leader in combined heat and power (CHP), and is one of the UK's leading green generators;
- One of the many ways E.ON leads the energy industry is through its commitment to market liquidity and transparency as evidenced by its actions on the day-ahead UK power markets including the N2EX auction. E.ON was the first company to sign a gross-bidding agreement with N2EX.
About Interserve
- Interserve's vision is to redefine the future for people and places. It is one of the world's foremost support services and construction companies, operating in the public and private sectors in the UK and internationally, offering advice, design, construction, equipment, facilities management and front-line services. Interserve is based in the UK and is listed in the FTSE 250 index. The Group employs some 50,000 people worldwide and in 2012 generated gross revenue of £2.3 billion.
- http://www.interserve.com/
Ukraine repeals tough laws, army calls for 'urgent steps'
News story: UK-France Summit 2014
The Prime Minister welcomes President Hollande to RAF Brize Norton today (31 January) for the UK-France Summit 2014. The Foreign Secretary, Defence Secretary, Energy Secretary and Minister for Science will also attend along with their opposite numbers from the French government.
UK-France relationship
France is one of our most important partners and this summit is an opportunity to further strengthen the co-operation between our 2 countries.
The Prime Minister and President Hollande will give a joint press conference at the end of the summit.
MPs really are full of hot air! Thermal imaging reveals famous buildings leaking heat - and the Houses of Parliament are the WORST culprits
Storing Up Trouble for Gas Prices
British nuclear plant says radiation alert due to natural radon gas
REFILE-UPDATE 5-British nuclear plant says radiation alert due to natural radon gas
EDF to develop US wind project
Gazprom close to deal on gas price cut for Greece's DEPA -source
Gazprom to supply gas to Tata Chemical’s CHP plant
Lithuania Highest Gas Prices In Europe
EDF Renewable Energy signs 20-year PPA with Southern California Edison
RWE Innogy UK arrives on scene
Fitch rates Gazprombank's CNY1bn loan participation notes 'BBB-'
British nuclear plant: Radiation alert due to natural radon gas
EDF unveils UK pacts as Cameron and Hollande stress nuclear imperative
Hollande confirms £16bn deal to build nuclear reactors
EU regulator slams UK nuclear deal with EDF
UK shale gas viability check will take five years, says Cuadrilla boss
U.K. Support for EDF Atomic Deal May Distort Market, Europe Says
Anger at potholes outside Eric Liddell centre
British Gas abandons UK homes and leaves poor households cold
UK GAS-Mild winter pushes summer gas price to lowest since Aug. 2012
Hydro linked to e-coli outbreak as seven fall ill after eating burgers
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Bute residents can benefit from SSE initiative for replacement boilers
Gas bill for couple who are all-electric
Entries open for British Gas Swimming Championships 2014
Ian Marchant appointed as new Wood Group chairman
Confidence Code consultation
Thursday, January 30, 2014
An independent Scotland could affect some Spanish Iberdrola’s assets
Gazprom Energy Strikes up Energy Partnership with Tata Chemicals Europe
Natural Gas Extends Biggest Decline in More Than Four Years
EU warns deal to build Britain's first nuclear reactor in quarter of a century could be illegal
Former SSE chief appointed chairman of global international energy services giant John Wood Group
Analysis: Supply test looms for Obama's darling natural gas
Policy paper: Modifications to the Smart Energy Code, Smart Meter Communication Licences and the Standard Conditions of Electricity and Gas Supply Licences (No. 1 of 2014)
Policy positions and legal text for each of these areas have previously been consulted on and responses published as follows:
Government response to the consultation on New Smart Energy Code Content (Stage 2), published 30 January 2014
Government response to October 2013 consultation on amendments to roll-out licence conditions and implementation of EU Energy Efficiency Directive provisions on consumer access to data from smart meters, published 30 January 2014
Government response: consultation on consequential changes to the DCC Licence to support provisions in the Smart Energy Code concerning financing of communications hubs, published 30 January 2014- Foundation Smart Market: The government's final response to the consultation on the Foundation Smart Market, published 24 July 2013.
The modifications will take effect at different times; please refer to the Modifications document for details.
For any other enquires on these licence conditions or on smart metering generally, please email: smartmetering@decc.gsi.gov.uk.
I would have thought EDF have enough to do in France let alone England
Collection: DECC equality information
Under the Public Sector Equality Duty (the Equality Duty), part of the Equality Act 2010, the Department of Energy and Climate Change has a specific duty to publish relevant proportionate information to demonstrate our compliance with the Equality Duty. This report focuses on information about the DECC workforce.
Shell scrap plans to dig for Arctic oil in victory for eco warriors
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Natural gas falls hard as U.S. supply report disappoints
Speech: UKTI Civil Nuclear Export Showcase
Introduction
I am delighted to have the opportunity to join you today at the UKTI Civil Nuclear Export Showcase and to talk to you about the UK's new nuclear programme.
These are exciting times for our nuclear industry, and this conference takes place at a pivotal time for nuclear power in the UK.
I'm delighted to welcome our overseas delegates to today's event and hope you have an interesting and productive time in the UK. Your presence here in the UK is a fantastic opportunity to see what we have to offer and provides possibilities for us to develop new partnerships and forge stronger links with your countries in the future.
Why does the UK need new nuclear?
It is worth taking a moment to remind ourselves why new nuclear is important. It is without doubt, a safe, proven low carbon technology that can contribute to the UK's future energy security, helping to ensure a diverse mix of technology and fuel sources over the long term.
And it will do this in a way that doesn't pump harmful carbon emissions into the atmosphere.
Nuclear is vital for our energy security now and the Government wants it to be part of our energy mix in the future, alongside renewables and clean coal and gas.
Nuclear is an important part of the £110bn of investment in our electricity sector that is required over the next decade so the Government has prepared the ground for new nuclear power stations in the UK through a package of reforms and regulatory measures that remove barriers to investment and give developers the confidence to take forward projects that will help deliver secure, low carbon and affordable energy.
The UK has already demonstrated its ability to deliver major construction projects - the Olympics, Heathrow Terminal 5, the Shard and the Royal Hospital London to name but a few. So we are building on firm foundations.
Here in Britain we are seeing significant progress towards a nuclear renaissance. Three consortia, NNBGenCo (EDF), Horizon Nuclear Power and NuGen, are taking forward projects to build new nuclear power plants.
In addition to helping the UK meet its energy needs and its environmental commitments, new nuclear power stations will create outstanding opportunities for the UK economy, both investment and jobs, at Hinkley Point C and the follow-on developments.
Civil nuclear is a key growth industry that provides highly skilled jobs. The full 16GW of new build capacity planned by industry could support an estimated 29,000-41,000 jobs across the nuclear supply chain at the peak of construction activity, with industry investment equating to around £60 billion.
New nuclear opportunities
So, I want to emphasise that this conference takes place at a critical time for nuclear power in the UK.
And, I am delighted to mention, perhaps the biggest recent achievement – the agreement reached with EdF on key commercial terms for a potential investment contract for Hinkley Point C.
Following a tremendous amount of work from many parties we can now look forward confidently to the first new nuclear power station in a generation being built at Hinkley Point.
What we've agreed represents a very good deal for Britain. It's a good deal for UK consumers providing value for money - and also provides an attractive proposition for EdF and its investors - offering a reasonable rate of return for the risks they are taking.
Hinkley Point C would generate enough power for nearly six million homes, a city nearly twice the size of London, or 7% of Britain's electricity supply by 2025. In addition it is estimated that around 25,000 jobs will be created during construction with a massive investment by EDF Group and its fellow investors of around £16 billion to build the plant.
But there are still hurdles to overcome on the path to a final investment decision.
It is dependent on a number of factors, such as a positive decision on State Aid from the European Commission and EdF's progress with potential investors to secure the capital investment needed to deliver the plant.
We are working closely with the European Commission on their state aid investigation and a public consultation will be launched by them shortly. This will be an important step forward in the consideration of the case and I urge you to participate in the consultation and submit your views to the Commission.
Nuclear renaissance
But Hinkley is not the only project making real progress.
At the end of last year, HM Treasury signed a co-operation agreement with Horizon Nuclear Power Wylfa Ltd, to promote external financing for a new nuclear power station at Wylfa, Anglesey.
This agreement will enable access to the UK Guarantee Scheme that will underpin the establishment of external project finance for the ‘Wylfa Newydd' project, expected to come on-stream in the first half of the 2020s.
And Government has made further progress over the last 12 months to make new nuclear happen in the UK.
We've successfully completed the first generic design assessment for Areva's UK EPR and starting the process for Hitachi's UK Advanced Boiling Water Reactor design. Regulators announced on 6th January that they are progressing to the next phase of Generic Design Assessment of the UK ABWR and I understand that they expect to complete GDA by 2017.
We've also introduced a community benefit regime which recognises the contribution of local populations surrounding new nuclear power stations to the long term provision of clean and secure energy for the nation.
In addition to these milestones – the Energy Bill received Royal Assent on 18th December giving investors the certainty they need from Government to invest in low carbon energy.
The Energy Act 2013 will bring unprecedented levels of inward investment into our energy infrastructure, on a scale that will dwarf the Olympics and indeed many other projects in the UK's infrastructure pipeline from transport, water and telecoms.
UK's expertise in nuclear and throughout the whole lifecycle
The United Kingdom has a proud and long history as one of the early nuclear pioneers. We have led the world in early reactor design, and operation, many of which set world records for their safety and operation.
I have talked a lot about new nuclear but let's not forget that the majority of this industry is currently occupied with the vital work of existing power generation and decommissioning which make a significant contribution to the economy today.
As the Parliamentary Under Secretary of State within the Department of Energy and Climate Change I have formal responsibility for managing the nuclear legacy.
It is within these parts of the nuclear sector and the wider construction industry that we have developed a strong and globally respected workforce– and this will also provide the foundations on which the new nuclear programme can prosper.
Earlier this year the Government published our Nuclear Industrial Strategy which, with its many supporting documents, covers our commitment and vision for all elements of the nuclear sector.
The Strategy sets out a number of goals and actions that will support the supply chain: from an increased focus on fundamental R&D in our universities and the National Nuclear Laboratory; to ensuring that we can develop and maintain the necessary skills for both the home market and exporting our knowledge to the rest of the world.
Our UK nuclear industry can provide a significant contribution to overseas civil nuclear programmes, particularly in decommissioning and waste management where, over many years, our companies have developed an extensive array of specialist expertise and technology.
That's why I am committed to supporting events such as this and doing all I can to enable UK companies to share their nuclear expertise globally.
Conclusion
As the UK continues to build on its proud heritage as a nuclear pioneer it is clear that this is a sector with a long, bright and prosperous future ahead of it. By working together, we can take advantage of the opportunities for the nuclear sector both locally at home, and internationally in the global race for jobs and growth.
I hope you have an enjoyable and productive day.
Thank you.
EDF Renewable Energy signs power purchase agreement with Southern California Edison for 19.8 MW wind farm
Press release: Nick Clegg’s drive to make UK world leader in electric cars
Backed by major car manufacturers
Major car manufacturers BMW, Nissan, Renault, Toyota and Vauxhall are all backing the Go Ultra Low campaign in a ground breaking partnership with government to debunk common myths and misconceptions that put drivers off switching to electric or hybrid cars, such as cost and how far the vehicles can travel before being recharged.
Electric car owners do not have to pay car tax or congestion charges and many chargepoints are free to use. The cars cost from just 2p a mile, which means a family that drives an electric vehicle 10,000 miles in a year would save around £1,000 on fuel costs each year.
Hundreds more charging points
There are already more charging points than filling stations in London, but to make driving an electric car possible for everyone, the £9 million funding will be used to create hundreds more charging points across the country, including 140 new rapid chargepoints which can charge an electric car in less than half an hour. This will cement the UK's position as one of the best for electric vehicle recharging networks in Europe.
One of our most promising green industries
Deputy Prime Minister Nick Clegg said:
Electric cars are one of the most promising of our green industries and we want to secure the UK's position as a global leader in both the production and adoption of these vehicles.
The extremely low running costs of electric cars help drivers save money and we are allocating more than £9 million to boost chargepoints across the country to help drivers to go green.
This means we can lower UK emissions and create high-tech engineering and manufacturing jobs to boost our economy.
The announcement comes as the Deputy Prime Minister visits iconic transport venue Ace Cafe, just off the North Circular in North West London, where he will meet managing directors, staff and apprentices from leading motoring companies BMW, Nissan, Renault, Toyota and Vauxhall.
Transport Minister Robert Goodwill said:
This campaign is about opening people's eyes to the advantages of ultra low emission vehicles.
They are incredibly cheap to run and we're giving grants that knock thousands of pounds off the pricetag at the point of sale. This is great news for the consumer and for industry, with the UK well-positioned to take the lead on the development of these advanced technologies.
The Go Ultra Low campaign is backed by 5 household names from industry: BMW, Nissan, Renault, Toyota and Vauxhall.
Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders said:
This is a significant development as government and some of the country's leading automotive brands pool resources to fund a campaign that will raise awareness of the benefits and capabilities of these new technologies. The Go Ultra Low campaign will help the public understand how these new cars work and how they could be a perfect fit for their personal, business or fleet needs. Given the importance of running costs and environmental performance to new car buyers, we hope the campaign will encourage more people to consider going ultra low.
Further information
There are more than 6,000 public chargepoints across the UK.
The £9.3 million allocation will come from the £37 million for electric vehicle infrastructure announced in July 2013.
The government has also committed to invest £5 million to introduce electric vehicles across government and wider public sector fleets this year.
A new website, www.GoUltraLow.com, will let people match their own needs with the ultra low emission vehicle that's right for them, as well as providing a wealth of information highlighting the advantages of these vehicles.
Natural-Gas Futures Sink; Supply Withdrawal Less Than Expected
News story: Energy trends and prices statistical release: 30 January 2014
Highlights for the 3 month period September to November 2013, compared to the same period a year earlier include:
- Primary energy consumption in the UK fell by 3.0%, but was up 1.4% on a temperature adjusted basis. (table ET 1.2)
- Indigenous energy production rose by 1.8%. (table ET 1.1)
- Crude oil & NGL production up 8.5%, with crude oil production up 9.3% following maintenance activity in the same period a year earlier. (table ET 3.10)
- Gas production down 0.4%. (table ET 4.2)
- Coal production down 33.8% due to mine closures and geological conditions. (table ET 2.5)
- Coal provided 40.4% of electricity generation by Major Power Producers, with gas's share at 26.0% and nuclear at 21.1%.* (table ET 5.4)
- Wind generation by Major Power Producers up 29.3%, with offshore wind up 35.5% and onshore wind up 23.9%.* (table ET 5.4)
- Bioenergy generation up 18.6% mainly due to the partial conversion to biomass of Drax. (table ET 5.4)
- Low carbon share of electricity generation by Major Power Producers up 4 percentage points to 33.8%.* (table ET 5.4)
- Average petrol and diesel prices both fell in January 2014. (table QEP 4.1.1)
- Domestic gas and electricity prices were up by 7% and 6% respectively in December 2013 reflecting the price increases from 4 of the big 6 suppliers. (table QEP 2.1.3)
Statistics on monthly production and consumption of coal, electricity*, gas, oil and total energy include data for the UK for the period up to the end of November 2013.
Statistics on solar photovoltaics deployment and average temperatures, wind speeds, sun hours and rainfall include data for the UK for the period up to the end of December 2013.
Statistics on energy prices include retail price data for the UK for December 2013, and petrol & diesel data for January 2014, with EU comparative data for December 2013.
The latest release updates the statistics previously released on 19 December 2013.
The next release of provisional monthly energy statistics will take place on 27 February 2014.
The next release of provisional quarterly energy statistics for Q4 2013 (October to December), will take place on 27 March 2014.
*Major Power Producers (MPPs) data published monthly, all generating companies data published quarterly.
To access the latest data release click on the relevant subject link(s) below.
| Subject and table number | Title |
|---|---|
| Total Energy | |
| ET 1.1 | Indigenous production of primary fuels |
| ET 1.2 | Inland energy consumption: primary fuel input basis |
| Coal | |
| ET 2.5 | Coal production and foreign trade |
| ET 2.6 | Coal consumption and coal stocks |
| Oil | |
| ET 3.10 | Indigenous production, refinery receipts, imports and exports |
| ET 3.11 | Stocks of petroleum |
| ET 3.12 | Refinery throughput and output of petroleum products |
| ET 3.13 | Deliveries of petroleum products for inland consumption |
| Gas | |
| ET 4.2 | Natural gas production and supply |
| ET 4.3 | Natural gas imports and exports |
| ET 4.4 | Natural gas imports |
| Electricity | |
| ET 5.3 | Fuel used in electricity generation by major producers |
| ET 5.4 | Electricity production and availability from the public supply system |
| ET 5.5 | Availability and consumption of electricity |
| Renewables | |
| ET 6.4 | Solar photovoltaics deployment |
| Weather | |
| ET 7.1 | Average temperatures and deviations from the long term mean |
| ET 7.2 | Average wind speed and deviations from the long term mean |
| ET 7.3 | Average daily sun hours and deviations from the long term mean |
| ET 7.4 | Average monthly rainfall and deviations from the long term mean |
| Domestic energy price indices | |
| QEP 2.1.1 | Retail prices index: fuel components |
| QEP 2.1.2 | Retail prices index: fuel components, relative to GDP deflator |
| QEP 2.1.3 | Retail prices index: fuels components monthly figures |
| Monthly and annual prices of road fuels and petroleum product | |
| QEP 4.1.1 | Typical retail prices of petroleum products and a crude oil price index (monthly data) |
| QEP 4.1.2 | Typical retail prices of petroleum products and a crude oil price index (annual data) |
| International road fuel prices | |
| QEP 5.1.1 | Premium unleaded petrol prices in the EU |
| QEP 5.2.1 | Diesel prices in the EU |
Please note that the links above will always direct you to the latest data release. If you are interested in historical data please contact DECC (Kevin.Harris@decc.gsi.gov.uk)
SSE bags £8.3m for energy efficiency trial
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Chief Executive's response to the Independent article published on the 30 January.
Wednesday, January 29, 2014
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Guidance: Smart metering: a guide for local authorities and third sector organisations
An information leaflet which provides an introduction to the smart metering implementation programme for local authorities and third sector organisations. It explains the importance of the smart meter roll-out, plus why and how local authorities and third sector organisations might get involved.
EDF targets transitional plan for UK coal-fired electricity plants
Tech trepidation: Over 39 million Brits too nervous to try new technology
- Fewer than one in 10 UK adults rush to try new technology as soon as it's released, with over half 'waiting until it's been out for a while'
- Almost a third say online shopping is the most significant tech development of our time
- E.ON teams up with Philippa Forrester to discuss attitudes to new technologies and the benefits of smart metering
Over 39 million Brits1 avoid trying new technology when it's first released, according to new research from E.ON2. While 95% of UK adults claim that technology makes their lives easier, fewer than one in 10 rushes to get their hands on new gadgets when they're first launched (8%).
Over half of people like to wait until new tech has proved itself in the market (56%), while almost one in five wait until their nearest and dearest have tested emerging technologies before getting their hands on it themselves (19%).
But although many people are apprehensive about using the latest gadgets, three-quarters are now banking online (75%) - despite almost half being cautious at first (43%). Meanwhile, over two-thirds are regularly choosing the web to shop (67%) - despite almost half hesitating before making those first purchases (46%).
The top five tech developments of our time were stated as:
- Being able to shop online (29%)
- Online banking (24%)
- Mobile internet devices (22%)
- Recording live TV (17%)
- Streaming films and TV online (3%)
E.ON, which is installing new smart meter technology in its customers' homes, commissioned the research to assess people's attitudes to new technologies. The findings show that the biggest advantages of new technology are how much time it can save people (59%) and the help it can provide with managing finances (40%).
Technological advances can impact the way people monitor their bills too, with over three-quarters of adults recognising that innovations like smart meters can help them monitor their energy use (76%).
Half of the respondents who already own a smart meter listed the main benefit as receiving accurate rather than estimated energy bills (50%), while almost half also enjoy the feeling of being able to actively reduce their bills by monitoring their energy use in the home (49%).
Jean Fiddes, from E.ON's Smart Metering programme, said: "Our research shows that consumers are increasingly using technology to make their lives easier, while also saving money on everyday costs. Smart meters are an excellent example of how new technology can help bring big energy savings in the home, ensuring our customers use no more energy than they need to.
"Over 71% of respondents said that they'd be more likely to reduce their usage if they could see how much energy they're using, and now smart meters can allow them to do just that."
Broadcaster, keen environmentalist and former Tomorrow's World Presenter Philippa Forrester said: "New technologies are often met with scepticism when they're first introduced. But when later adopted, many of us wonder what we ever did without them. Online shopping and banking and on-the-go entertainment were all at one time considered ‘new' technologies but are now very much part of our day-to-day lives. And although we may get nostalgic about the good old days, many of us appreciate the convenience and control technology can offer."
For more information on E.ON's smart metering programme, visit www.eonenergy.com/smart
Ends
Notes to editors:
- 1. Based on 87% of those questioned and the total number of UK adults (44.9 million UK adults in 2011, ONS). 87% of 44.9 million = 39, 063, 000.
- 2. Research carried out amongst 2,002 UK adult respondents by www.visioncritical.com in January 2014
About E.ON:
- E.ON is one of the UK's leading power and gas companies - generating electricity, retailing power and gas, developing gas storage and undertaking gas and oil exploration and production. It is part of the E.ON group, one of the world's largest investor-owned power and gas companies. E.ON employs around 12,000 people in the UK and more than 72,000 worldwide;
- In the UK, E.ON supplies power and gas to around five million domestic, small and medium-sized enterprise and industrial. E.ON also offers innovative energy services and technologies tailored to meet its customers' needs, and is helping customers become energy efficient by encouraging them to insulate their homes, moderate their energy usage and even generate their own power.
- E.ON has been voted Britain's best energy supplier for the second year running in the uSwitch.com Customer Satisfaction Awards. The independent report and awards are published annually and are based on a YouGov poll of over 5,000 energy customers.
For more information contact:
Naomi Troy at E.ON on 02476 180523 or Naomi.troy@eon-uk.com
A Government Price Freeze Could Cripple SSE PLC
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Natural Gas Gains as Heating Demand Stays Strong
EDF aims to keep 3GW of coal power online despite flagging possible early closure
BG Group: Supplies OK despite Egyptian problems
Power workers take dip in North Sea
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UK GAS-Prices low on mild weather outlook
RWE in Triton onshore plan switch
SSE news alert - SCRIP DIVIDEND REFERENCE PRICE
Tuesday, January 28, 2014
EDF Completes Maintenance Shutdown at Blayais Nuclear Unit
ScottishPower rejects post-indy break-up claim by Spanish paper
Is there a ray of environmental optimism?
Natural Gas Drops Second Day This Week Amid Colder U.S. Weather
Energy company workers brave freezing sea to raise cash for charity (From The Northern Echo)
Greenpeace protestor gives Monmouth talk
FOI release: Christmas presents given by ministers
Response to a request for information on presents given by DECC ministers to DECC civil servants for Christmas 2013.
Environmental Defense Fund Climate Corps Fellow Joins First Lady at State of the Union Address
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Statistics: United Kingdom housing energy fact file: 2013
The purpose of the fact file (produced annually) is to gather together in one volume data on important trends related to domestic energy use, and in particular on the measures that have been taken to improve energy efficiency. Most of the tables relate to total housing stock and will be mainly of use to government departments and others interested in research or planning at that level. The reports cover the period from 1970 (just before the first oil crisis) until 2011.
The the fact file covers the United Kingdom and not just Great Britain. It is based on data collected by the English Housing Survey and its devolved equivalents, and prepared under contract to DECC by Cambridge Architectural Research and Cambridge Econometrics.
Statistics: Energy Follow-Up Survey (EFUS): 2011
The main aim of the 2011 Energy Follow-Up Survey was to collect new data on domestic energy use to improve our modelling and better inform policy. The survey consisted of follow-up interviews with a sub-set of households that formed part of the much larger 2010/2011 English Housing Survey. Some of these households were then selected to have temperature loggers and electricity meters installed and this was combined with information from gas and electricity meter readings. The data gathered is now being used to inform updates to the BRE Domestic Energy Model (BREDEM) and DECC's own National Housing Model. It is also directly informing energy efficiency policy including the Green Deal.
More information can be found on the English housing survey 2011 to 2012: headline report page.
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Research and analysis: How heating controls affect domestic energy demand: a rapid evidence assessment
DECC has set up a programme of work to understand the potential for smarter heating controls to save energy. As part of this DECC commissioned this review with the aim of synthesising existing research evidence on how domestic heating controls affect energy demand. The objective was for the review to contribute to the Smarter Heating Control Research Programme, aimed at establishing the extent to which the introduction of smarter heating controls is likely to save energy. The review was also intended to provide evidence with which to inform a subsequent design of a possible field trial that could detect any energy reductions associated with improving control technologies.
The Rapid Evidence Assessment found that relevant studies are small-scale and mostly from outside the UK. The assessment also established that there is not a consistent and reliable body of evidence on the capacity of heating control technology to contribute to energy savings. Little evidence exists on the role of consumer behaviour with regards to heating controls, yet some research does point to the poor usability of heating controls and that use is often driven by thermal comfort rather than saving energy.
The report also highlights that heating controls are typically replaced with boilers, which is 5% per year. Secondary analysis of EFUS data found that 49% of households have a full set of heating controls including a central timer, thermostatic radiator valves and room thermostats. This provides more up to date statistics than previous industry research by BEAMA and the Energy Savings Trust in 2008 which suggested only around 30% of households have full set of controls.
As a result the report concludes that there are large gaps in the evidence base, specifically on national data, around the role of consumer behaviour with few UK studies testing households with smarter heating controls.
Guidance: Energy Entrepreneurs Fund: phase 3 documents
This is a competitive funding scheme to support the development and demonstration of state of the art technologies, products and processes in the areas of energy efficiency, power generation and heat and electricity storage.
The Energy Entrepreneurs Fund seeks the best ideas, irrespective of source, across these energy technology areas from the public and private sector. The scheme particularly aims to assist small- and medium-sized enterprises, including start-ups, and those companies that are selected will receive additional funding for incubation support.
Phases 1 and 2
The first phase of the Energy Entrepreneurs Fund was open from 23 August to 31 October 2012. Under this phase, £16million was awarded to 31 projects. Following the second call on 13 June 2013, a further £9m was awarded to 20 projects. A full list of the projects who have received EEF grants to date is available on the Innovation Funding pages.
Phase 3
The remaining £10m is now available for projects up to March 31st 2016. Full details on how to apply, and deadlines for registration and submission of applications, is in the guidance notes.
During the application process, applicants will be expected to demonstrate a robust evidence based case for funding, that will include but not be limited to:
- the potential impact of the innovation on 2020 and/or 2050 low carbon targets or security of supply
- the technical viability of their innovation and coherent development plan that will commercially progress the innovation
- value for money
- the size and nature of the business opportunity
Press release: £10 million boost for SME energy innovation
British entrepreneurs are set to benefit from a share of £10million to help bring new and innovative energy efficient products to market, Minister of Energy and Climate Change Greg Barker announced today.
Small and medium size enterprises within the energy efficiency, building technologies, power generation and energy storage sectors are invited to bid for funding of up to £2million under the Government's Energy Entrepreneurs Fund.
Support will be given to state of the art technologies that could bring down the cost of consumer bills and reduce carbon emissions, such as ground source heat pumps, and energy from waste technologies.
In addition to funding, the winning companies will also receive advice from commercial experts on how to attract investment to bring their products to the market.
Energy and Climate Change Minister, Greg Barker said:
“This investment will give SMEs a vital boost to drive forward the development of a range of innovative low carbon designs, helping cut costs and bringing new technologies to market in this sector.
“Innovation is vital for the move towards a low carbon economy and an essential part of our long term economic plan. I look forward to seeing our great entrepreneurs rising to the challenge.”
Applications are assessed by engineering and technical experts across government and industry, as well as a commercial panel of low carbon investment professionals. Bids are judged against a range of criteria including the ability to cut the cost of existing technologies, future carbon savings and commercial viability.
This is the third phase of the Energy Entrepreneurs Fund. In the first phase, which was launched in September 2012, 31 companies were awarded grants of a total value of £16million. The second phase, launched in June 2013, resulted in 20 companies receiving grant offers totalling £9million.
Notes for Editors:
Details of how to apply for funding
The Energy Entrepreneurs Fund is designed to spur on innovation in the low carbon sector, helping to support jobs and create export opportunities as well as help the UK meet its carbon targets.
The Fund – totalling £35million and launched in April 2012 - aims to support energy efficiency technologies such as building control systems, advanced lighting systems and space heating and cooling technologies, alongside power generation and energy storage technologies including fuel cells, biomass boilers and heat pumps. Winning designs range from smart energy demand controls and innovative waste management solutions, to innovative ideas for installing insulation.
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Monday, January 27, 2014
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Impact assessment: Green Deal assessments research: Technical Report
The is a technical report for Waves 1, 2 and 3 of the Green Deal assessments research and the Wave 1 telephone follow-up survey. It gives detail on all technical aspects of the research, including survey methodology, sampling, weighting, questionnaire design and approach analysis'
FOI release: Permanent Secretary meeting with Ineos
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Speech: Middle East and North Africa Energy
Good morning. It's a pleasure to be here with you all today. I'd like to thank Chatham House for providing this forum. The focus of today's discussions - the future of oil and gas supplies from the Middle East and North Africa - is certainly of critical importance to us all.
Future role of oil and gas in meeting global energy demand
The world will continue to rely on oil and gas for the foreseeable future, making the security of competitively priced oil and gas supplies of vital importance to the world's economy.
Oil and gas consumption is expected to rise significantly for some time, even as we move towards a low carbon economy. In particular demand for transport fuel is projected to continue to grow outside the OECD, while gas is increasingly replacing coal as a fuel for power generation around the world.
The latest predictions from the IEA are that that under its central scenario the world will be consuming over 100 million barrels of oil a day in 2035, up from 89 million barrels a day in 2012.
However over the same time the IEA expects that conventional crude oil output from existing fields is set to fall by around 40 million barrels per day by 2035. This means that new sources of oil will need to be developed to make up the difference.
The development of unconventional oil will clearly have an important role in the coming years. And the same is true for gas - with unconventional gas expected to account for almost 50% of the increase in global gas production to 2035. Further work is required on how to safely and sustainably exploit these resources.
But this is not the whole answer. Indeed, the IEA emphasises the Middle East as being at the centre of the longer term oil outlook. Even with projections that domestic consumption in the region will increase significantly, exports from the region will continue to be integral to global supply.
This requires huge investment in production – an estimated $660bn per year will need to be invested in existing and new oil and gas fields to meet global demand. British companies are well placed to make this investment and are already active in many places around the world, including the Gulf. BP and Shell, for example, are already present in Iraq, while Shell is a partner in the Qatargas 4 LNG and Pearl GTL projects in Qatar.
The IEA highlights Iraq – with its huge oil reserves - as the country that could be the single largest contributor to global production growth. That requires investment now, in infrastructure, sustainable water management, and the strong legal and financial frameworks that investors need.
The IEA also projects increasing gas production from the Middle East and North Africa from both conventional and unconventional sources. When I visited Qatar in November, I was struck at how important Qatar is and will continue to be as a gas supplier to the wider MENA region and beyond. Qatar is of course a significant supplier of LNG to the UK. I also met the Algerian energy Minister last year, and was interested to learn more about the potential scale of Algeria's unconventional gas resources. Of course there remain uncertainties as to the extent to which these resources will prove to be economically recoverable. In global gas markets, MENA gas producers are likely to be faced with growing competition from new sources of LNG from suppliers in the US, Canada, Australia and East Africa.
International Cooperation
I mentioned the significant investment required. Key to supporting this is helping to ensure that we have well-functioning oil and gas markets. This is a shared challenge, which transcends national boundaries, and we value international collaboration on this agenda.
We saw in 2008 how damaging severe price fluctuations can be, when a mid-year spike of $145/barrel was followed by a fall to $30/barrel by year end.
These swings severely damaged the confidence of consumers and producers alike: the price rise led to consumers sharply reducing demand for oil and goods and services in the wider economy; and the price drop created major challenges and uncertainties for many producing countries, both in terms of meeting the wider needs of their populations and in deciding the investment needed for future production.
When the world met in Jeddah and London that year to discuss how to avoid such sharp fluctuations happening in the future, the central conclusion that emerged was the need to improve the functioning of the global oil market. Participants agreed that delivering such reform required significant improvement in the dialogue between consuming and producing countries facilitated by the International Energy Forum.
This led to the re-launch of the IEF in 2011. Since then the Forum has done important work with the IEA, OPEC and others to improve market transparency through the development of Joint Organisation Data Initiative, it has investigated the links between physical and financial oil markets and has worked to improve energy outlook data.
Maintaining this dialogue and work is essential if we are to ensure the world economy has the secure and competitively priced energy supplies it needs. In a period of relative price stability such as we have recently had, it would be all too easy for complacency to set in and for the world to downgrade the importance of such discussions. We should not, and I look forward to the IEF Ministerial meeting this May.
The UK also supports international efforts aimed at removing inefficient fossil fuel subsidies. The IEA estimates that $544bn was spent globally on consumption subsidies in 2012. The G20 and APEC have committed to action on this issue, and I would encourage all those with such subsidies to consider their long term impact.
A well-functioning and integrated European energy market in electricity and gas will be a critical part of ensuring security of our energy supplies and keeping energy costs down.
The European Council has already agreed that the internal energy market should be completed by 2014. This is something the UK strongly supports. This means full and effective implementation of the Third Package of energy legislation in every Member State.
We will need to effectively implement rules to allow energy to flow properly across markets. And Europe will need significant investment in interconnection to better link markets together.
And international efforts are – of course – crucial to facilitating the shift to low carbon energy. I welcome the role being taken by many countries in the Middle East and North Africa to support this transition, for example the World Future Energy Summit hosted by the UAE last week.
The draft 2030 package the European Commission adopted last week will set the long term perspective on this low carbon shift for the EU, and I welcome both the ambitious approach to a greenhouse gas emissions target of 40% for the EU but hopefully going higher in the case of a global deal, but also the acceptance by the Commission on the need for Member States to decarbonise in the most flexible and cost-effective way for each of them, moving away from binding national technology specific targets.
UK energy policy
I'd like to turn now to reflect on UK energy policy. We are seeking to achieve three key aims – energy security, emissions reduction to meet our ambitious climate changes targets, and maintaining affordability for consumers.
The North Sea continues to be hugely important for the UK. We are determined to maximise production of these oil and gas reserves and are currently conducting a review – the Wood Review – to ensure our regulatory regime is as business friendly as possible.
Unconventional oil and gas is an exciting prospect for us, and we have recently announced changes to our tax regime which will make the UK the most attractive location for investment in shale gas.
And we are working hard to put the policies in place to enable the shift to a low carbon energy system. We are committed to reducing our greenhouse gas emissions by 80% by 2050. Our energy policies include a number of flagship programmes to achieve this, including our far-reaching Electricity Market Reforms, the ambitious energy efficiency programme through the Green Deal.
Nevertheless, UK import dependency for oil and gas is set to rise over coming years.
We became a net importer of oil in 2005. In 2012 our oil import dependence increased to 36%, and is expected to rise to 47% by 2020.
For gas, we became a net importer in 2004; and in 2012 our gas import dependency stood at 50% - with Qatar one of our key suppliers. By 2020 imports are likely to rise to 58% and it is clear that gas will remain an important element of our energy mix for decades to come.
And as we increasingly look to international markets for our energy supplies, we also welcome the interest from international investors in the UK energy sector.
It is estimated that replacing and upgrading our electricity infrastructure alone will require up to £110 billion of capital investment between now and 2020. I recognise that policy certainty is key to this – and the Energy Act and our electricity market reforms deliver this.
I have been delighted to see investments in the UK energy sector ramping up. For example I welcome Masdar's investment of £500m in the London Array, the world's largest offshore wind farm. And the decision of the Abu Dhabi National Energy Company to lead in the development of the Morrone field in the North Sea.
Conclusion
Perhaps I can end by noting that common challenges face us all. We need to ensure that energy markets can provide the supplies consumers need at affordable prices while providing the necessary long term incentives for producers and investors. Achieving this is no mean feat, but dialogue and cooperation has a central role to play.
Thank you.