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- 30 March 2011
Should Britain Turn its Back on Nuclear? The catastrophic events in Japan that led to Fukushima’s nuclear crisis made the world review their concepts about nuclear energy generation. What once was seen as an effective way to generate carbon free electricity is now being questioned about its safety that will sure comprise its economical viability.
What happened at Fukushima’s nuclear power plant caused deep wounds on the nuclear industry, forcing governments in every corner of the globe to review their nuclear development policies. As countries around the globe start to decarbonise their economies, nuclear power is seen universally as a vital and cost effective carbon free energy generating resource. But new safety policies and other costs for new and existing nuclear power plants could turn nuclear power less economic or even uneconomic. The nuclear industry has a strong safety record and there is no reason to believe that this cannot be maintained into the future but events in Japan have changed these parameters. Although we don’t have a detailed report of what happened at Fukushima nuclear power plant further improvements on the current high safety levels will sure be implemented and required by new nuclear power plants. This leads us to the question: “Is it safe for Britain to go on building new nuclear plants?” Writing to the telegraph Lord Hutton of Furness former secretary of state for Business, Enterprise and Regulatory Reform, 2007-8, answered this question with an emphatic “YES” stating: “Safety must, of course, always be at the heart of the case for nuclear energy, and regulators must make this their top priority. In 2008, when I had responsibility for energy policy, the safety case was fundamental to my decision to sanction a new generation of nuclear power stations for Britain. I have every confidence that this will be the same approach taken by ministers today. Modern nuclear technologies have multi-layered safety systems in place that offer a huge improvement on the older power plants.” With ageing power plants due to close in coming years, time is running out for Britain and nuclear power seems like the most probable solution to not only to keep the “lights on” but also to cut down carbon emissions. If Britain turns its back on nuclear the Government would be limited to very few energy generating resources. Renewables would be one of them, for the delight of the energy secretary Chris Hune. The second option would be gas as it is unlikely that the Government would sanction a new coal-fired power plant. Meanwhile one thing is for sure the nuclear crisis in Japan will result in rising business gas prices and consequently higher business energy prices as LNG cargoes are diverted to the Far East to fill the gap left by the Fukushima nuclear power plant. To sum things up I leave you with the question: “Should Britain Turn its Back on Nuclear?” – Share your thoughts and opinions in our comments section. Contact Us If you would like more information on our range of energy services or would simply like to find out how this could benefit your business, simply call our energy team today on 0870 710 7560 or request a call back at time to suit.
Or you might want to subscribe for further updates direct from our site. - 22 March 2011
Japan’s Disaster Impacts on the UK Energy Market As uncertain to the future of the UK energy market, Japan’s disaster has caused even more uncertainties. Should the government stick with the nuclear energy programme? Or was what happened at Fukushima’s nuclear plant a warning that as efficient as nuclear might be, safety comes first?
Once again energy market specialists are divided into two groups. Those that believe Japan’s nuclear crisis will change global energy markets for good and those that despite knowing the risks of nuclear power plants still think the Government must not divert from its nuclear energy programme. The events at Fukushima nuclear power station are likely to change national energy policies in nuclear countries and that includes the UK. China has already suspended new nuclear plant approvals and those that are under construction that do not conform to safety standards must immediately cease construction. New safety policies and other costs for new and existing nuclear power plants could turn nuclear power less economic or even uneconomic. Nuclear’s loss could be natural gas and renewable’s gain. Although it is very early to say how this will affect the British power sector potential changes should not be downplayed. Speculative analysis shows that gas could significantly be impacted by long-term policy changes which could lead to higher gas prices. “With gas-fired power stations normally the marginal source of generation capacity in the UK, this is likely to result in higher electricity prices.” – stated an Energy Broker. Unfortunately the UK relies on nuclear power stations to replace coal-fired stations that will be switched off over the next decade. Even those who once described nuclear energy as a “tried, tested and failed technology”, are now advocating that Britain needs a more balanced energy strategy, in which nuclear will be crucial. On Sunday, Chris Hune, the energy secretary, ordered the chief nuclear officer to conduct an immediate review of the safety of Britain’s nuclear power stations. Mr Hune who once was totally against nuclear power has recently turned into a supporter for new nuclear stations. Right now there are plans for five nuclear plants to be built in the UK over the next decade. Shifting to nuclear is crucial if Britain is to reduce carbon emissions by 80% by 2050. Despite agreeing that the UK will need to rely on nuclear to “keep the lights on”, Mr Hune still believes the UK can meet its climate change commitments without relying too much on nuclear. “We can do the 80 per cent reduction in emissions by 2050 without new nuclear, but it will require a big effort on carbon capture and storage and renewables.” On the other hand, the Conservatives are likely to oppose any move to scale back the nuclear programme. The prime minister said that nuclear should be par of the mix. I leave you with the questions asked in the beginning of this article – Should the government stick with the nuclear energy programme? Or was what happened at Fukushima’s nuclear plant a warning that as efficient as nuclear might be, safety comes first? Contact Us If you would like more information on our range of energy services or would simply like to find out how this could benefit your business, simply call our energy team today on 0870 710 7560 or request a call back at time to suit.
Or you might want to subscribe for further updates direct from our site. - 21 March 2011
Innovative Renewable Energy Generation Ideas Portable Ethanol Refinery Turns Food Waste into Fuel – Every year in the UK alone thousands, maybe millions of tones of food goes to waste. What if we could find a use for all this waste? That is exactly what a California based company did, they’ve created a portable ethanol refinery that produces the fuel out of food waste.
Launched in 2009 the E-Fuel Microfueler replaces the traditional ethanol reflux column system with a solid state distillation technology, making it possible for homeowners and small businesses to safely and cost-effectively create their own fuel, on-site. How it works Compatible with just about any type of organic waste (discarded liquids rich in sugar, waste sugar, liquids with residual alcohol, cellulosic materials and even algae) that will be used as feedstock. The Microfueler uses a patented technology consisting of micro sensors and state-of-the-art semiconductor technology to produce ethanol in a combustion free process, making it possible for homeowners and small businesses to safely and cost-effectively create their own fuel, on-site. About Ethanol For those of you how don’t know what Ethanol is here is quick explanation. If you already know what Ethanol is please skip this section. Ethanol is ethyl alcohol, yes the same alcohol found in alcoholic beverages. As a fuel it can be classified as biofuel since it is made by the fermentation of feedstock sugarcane and corn. In countries like Brazil Ethanol is widely used as an alternative fuel for gasoline and diesel. Whilst there aren’t many if any cars in the UK that run on Ethanol. The Microfueler can be used with another purpose, as an independent renewable energy generator suitable for household use and even for small businesses. With the GridBuster electric generator home and business owners will be able to drop off the conventional and expensive electrical grid and generate their own electricity. According to its manufacturer the E-Fuel MicroFueler can produce a US Gallon – equivalent to 0.8 imperial gallons – of ethanol for only 56 cents of Dollar. With a weekly production of 233 gallons per week can be a cost effective renewable energy resource for small to mid-size business. For more information about E-Fuel’s Microfueler please visit. Contact Us If you would like more information on our range of energy services or would simply like to find out how this could benefit your business, simply call our energy team today on 0870 710 7560 or request a call back at time to suit.
Or you might want to subscribe for further updates direct from our site. - 16 March 2011
Gas Prices Rise with Power Shortages in Japan Yes you read it right, power shortages in Japan made UK gas prices rise four percent yesterday. In total 10 nuclear plants are out of action in Japan which increases the likelihood of LNG tankers being diverted away from the UK to Japan. “The severity of the situation is heightened by the possibility that the injection of seawater for emergency cooling of several of the reactors affected by the earthquake could require the scrapping of those reactors, so resulting in a permanent loss of some of the nuclear capacity already down,” Deutsche Bank analysts said in a note on Tuesday.
Gas for delivery next winter surged to its highest levels since late 2008 on the prospect of less LNG being available to cover potential demand spikes during cold winter weather. Contracts were closed at 74.25 pence per therm at market opening on Tuesday before falling to 73.20 late in the morning. Summer contracts also closed a record high levels trading at 65 pence at the start of the session and then falling to 64.5 pence per therm. Spot gas prices shed one penny to 63 pence, while day ahead contracts firmed at 63.10 pence per therm. “Prices are still strong. They are up from yesterday but there’s a bit of selling coming in now. Prices are not coming off much though,” said one Business Gas broker. The same Business Gas trader stated: “I can’t see it coming down a lot while we have nuclear issues in Japan. It’s very unclear on what is happening with Japanese LNG demand so the market is nervous,” As complex as it is now the UK gas market has to deal with consequences that are happening on the other side of the globe. Who would expect that the devastating natural disaster in Japan could influence UK gas prices? What baffles me the most is the fact Japans nuclear plants insurance doesn’t cover tsunamis and earth quake damages. According to experts all together this catastrophe could cost Japan a total of £115 BILLION. Contact Us If you would like more information on our range of energy services or would simply like to find out how this could benefit your business, simply call our energy team today on 0870 710 7560 or request a call back at time to suit.
Or you might want to subscribe for further updates direct from our site. - 9 March 2011
Middle East Unrests Continue to Influence Gas Prices UK gas prices climbed to its highest levels in more than 21 months supported by conflicts in Middle East which are pushing Brent crude oil prices close to the $120 a barrel. On Monday Brent crude oil prices firmed at $117.40 a barrel, causing a rally in the UK gas market. Winter gas contract prices climbed to 68.50 pence per therm on Monday morning, the highest since May 2009.
Concerns about the turmoil in Libya, tensions in Saudi Arabia and rumours of the wave of anti-government protests spreading across the Middle East and North Africa, spooked the market early this week. So far Libya has cut off only 2 percent of Europe’s gas supply but as unrests spread to countries like Oman, Yemen and Algeria, the uncertainties about future oil and gas production in these countries increase. “The potential disruptions of gas production in countries currently under social unrest are significant,” – said an energy broker. Higher oil costs push up some mainland European gas contracts and affect prices in the U.K. because of pipeline connections to Europe. Stronger oil also means that European gas suppliers may buy gas in the UK over the coming months as their oil hooked up prices rise in price. Gas for summer 2011 contracts rose 1.75 pence to 59 pence and April’s climbed to 58.90 pence. Meanwhile spot gas prices were traded at 59.75 pence on Monday, up 2 pence from Friday. On Tuesday prices continued to surge hitting 60 pence per therm. At the time of writing. Stronger gas prices means higher energy prices, baseload power for Tuesday was traded at 51 pounds per megawatt-hour. The biggest rise was seen on Winter 2011/12 contracts with increases of 2 pounds trading at 56.90 pounds per megawatt-hour. At the time of writing. Updated U.K. natural-gas and power contracts declined after two days of gains as crude fell and milder weather was forecast. Gas for summer, the six months from April, lost as much as 1.55 pence, or 2.6 percent, to 58 pence a therm, according to broker prices compiled by Bloomberg. It was at 58.4 pence as of 9:25 a.m. in London. The winter contract dropped as much as 1.05 pence to 67.75 pence. Gas for same-day delivery fell 0.9 pence to 58.9 pence. Power for next month dropped for the first time in nine days, losing 90 pence, or 1.8 percent, to 50.10 pounds a megawatt-hour. source: Bloomberg Businessweek Contact Us If you would like more information on our range of energy services or would simply like to find out how this could benefit your business, simply call our energy team today on 0870 710 7560 or request a call back at time to suit.
Or you might want to subscribe for further updates direct from our site. - 7 March 2011
Energy Market Report March 2011 Our monthly analysis of the UK gas and power markets is now available on line for the month of March 2011. The service is intended to keep you up to date with all the major news in Europe’s gas and power markets. It is also designed to keep power executives focused on market activity in an easy to digest format.
Your find our March 2011 report here and all historical energy reports can be located here. If you would like more information on our services or would like to find out how this could benefit your business, simply call our energy team today on 0870 710 7560 or request a call back at time to suit.
Or you might want to subscribe for further updates direct from our site. - 1 March 2011
The Importance of Hiring an Energy Broker Every week we bring you the latest UK energy and gas prices. These prices vary on a daily basis influenced by a series of factors that we talked about in our article: “Understanding the Fluctuation of UK Gas Prices“. As professional gas and energy brokers it is our job to stay on top of the news in order to find the best deals for our clients.
Now imagine you having to do all this for your business or allocating employees that have no experience in the UK energy market, to find your organisation the best business energy and business gas prices. First you would be wasting time that could be used on other projects that matter to your business, and second these professionals wouldn’t be able to find you the best deals because they don’t have the market knowledge to do so. That is why it is extremely important to hire independent energy brokers if you want to not only find the best energy and gas contract, but also improve the energy efficiency of your business. Energy brokers have the market intelligence to understand and predict market conditions, therefore, finding the best contracts that will reduce costs and improve efficiency. Leaving you with the calm and tranquillity to focus on what really matters to your business. There is nothing like a fresh pair of eyes to uncover areas for significant improvement that may not have been previously identified. Energy consultants have the advantage of working with many different organisations in various niches which make them versatile professionals capable of finding energy management solutions for just about any business. Another factor that highlights the importance of hiring independent energy brokers is supplier relation. Here at Catalyst for instance we work on behalf of thousands of UK companies which give us a bigger bargain power when purchasing energy or gas from suppliers. Before you ask if we were not going to bring you the latest gas and energy prices, here they are: Gas Prices Gas for Tuesday delivery rose 0.20 pence to 56.00 pence per therm at 1005 GMT, and day-ahead contracts gained 0.25 pence to 55.95 pence. Gas for April rose to 54.90 pence and gas for delivery next summer went up 0.05 pence and traded at 54.80 while winter gas surprisingly fell 0.15 to 64.35 pence. Energy Prices Day-ahead power gained 0.25 pounds on the previous session to 48.45 pounds per megawatt-hour (MWh). Contact Us If you would like more information on our range of energy services or would simply like to find out how this could benefit your business, simply call our energy team today on 0870 710 7560 or request a call back at time to suit.
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Time To Turn Back on Nuclear:
