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With Halloween on Monday, Bonfire Night just around the corner, and the Christmas season truly kicking off it’s a busy time of the year. It’s also busy for the energy sector, with frosty temperatures meaning greater demand and correspondingly higher prices. So, what’s been making headlines this week?
Higher winter electricity prices are becoming ever more likely, as the UK’s only long term gas storage site continues to be out of action due to technical problems. Technical work is predicted to be completed in the second half of November.
French nuclear outages threaten UK power bills – The Financial Times
There are currently safety fears around a number of French nuclear plants, which are being taken offline whilst they undergo checks. This is likely to cut the amount of energy available for export from the continent, meaning higher electricity bills for Brits.
EDF won’t ask for more cash if Hinkley Point goes wrong – The Telegraph
EDF has addressed worries from senior Lords over the Hinkley Point project. Concerns were voiced that the project may overrun and snowball over budget. In response EDF have pledged that they will not go back to the Government asking for extra funds should the project cost more than anticipated.
How will the Paris Agreement change your everyday life? – The Conversation
The Paris climate change agreement has now been ratified by 55 countries, and came into force on the 4th November. The goal of the agreement is to reduce emissions, and so keep global temperature rise below 2 degrees. But how will normal people be affected by the accord? Read this article to discover how lower emissions could lead to more pay in your bank account, cheaper meals and new job opportunities.
Top oil companies are joining forces to create an investment fund that will be used to develop clean energy technologies, with the goal of reducing carbon emissions. The group are also working on a plan to cut the emissions from oil sector. This is the latest sign that the oil industry is taking climate change plan seriously, and plan on playing an active role.
Remember you can keep up with all the latest energy news, plus small business advice, by following us on Twitter @switchmybiz.
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