Friday, 29 October 2010

Scottish and Southern Energy to raise gas bills by 9%

Scottish & Southern to hike UK gas prices on the 1st December

British utility Scottish & Southern Energy will hike household gas prices by
9.4 percent this winter, responding to sharp rises in wholesale gas prices.

The company said the increase on Dec. 1 would push up the typical annual gas
bill by 55.68 pounds to 650 pounds ($1,035) and affect about 3.6 million
customers, piling more pressure on consumers grappling with big government
spending cuts.

"The last few months have been marked by rising wholesale gas prices and,
having absorbed losses in our gas supply business for some time, we can not
delay an increase in retail prices any longer," Alistair Phillips-Davies,
energy supply director at SEE, said in a statement on Friday.

Phillips-Davies said he was sorry the price increase would take place during
winter but noted that wholesale gas prices had increased over 25 percent
since SSE last implemented price changes in March 2010.

Thursday, 28 October 2010

The Promise of Fusion Power

It has been called the holy grail of energy technology; a perfectly clean
source with an unlimited supply. Nuclear fusion has been demonstrated to be
possible, but converting it to a viable energy source remains technically
elusive. However, research on making fusion energy reality is in progress,
and there are some who are convinced that there will be a day when this free
and abundant source will arrive.

Our current nuclear technology, fission, is the breaking of the atomic
nucleus, which releases massive amounts of energy. For a fusion reaction,
the nuclei of two atoms fuse together to form a heavier nucleus. The
resulting release of energy is incredibly large. To put it in perspective,
fusion is the power of the sun, a force strong enough to heat a planet that
is 93 million miles away.

The fuels for a fusion reaction are the hydrogen isotopes, deuterium and
tritium, which are abundantly found in seawater. Experts estimate that there
is enough deuterium in seawater to last practically forever. Riccardo Betti,
professor at the University of Rochester's Laboratory for Laser Energetics
and a leading expert on nuclear fusion, believes that the deuterium found in
one cubic kilometer of seawater is equivalent in terms of energy to the
entire world's oil supply.

Co-op hits out at Spending Review changes to carbon reduction scheme

The Co-operative Group has expressed disappointment over the changes to the
Carbon Reduction Commitment (CRC) energy efficiency scheme, which it said
has effectively turned into a new business tax.

Under the original scheme, participating organisations have to buy
allowances based on their level of electricity usage, with all revenue
raised to be recycled to businesses. Those who performed the best in
increasing energy efficiency would have received a higher share of this

However, in last week's Spending Review, the government said it would be
taking these revenues "to support the public finances". In addition, the
first allowance sales for 2011-12 emissions will now take place in 2012
rather than 2011.

"Revenues from allowance sales totalling £1 billion a year by 2014-15 will
be used to support the public finances, including spending on the
environment, rather than recycled to participants. Further decisions on
allowance sales are a matter for the Budget process," the government said.

The Co-operative Group said it felt it was being penalised as it had planned
to reinvest the revenue into the business.

UK smart meter roll-out set to be most expensive in world

Smart meter deployment in the UK is set to be the most expensive in the
world, according to new research.
Business information service Datamonitor released a report today that said
the global smart metering market
for residential customers is set to reach £3.6 billion by 2015 - a 350 per
cent increase from 2009. But it said the roll-out of smart metering
deployment in the UK would in some case cost double what it would in other
territories. "The UK solution looks very expensive compared to, say, France where ERDF
expects to drive down the cost of its meters to £28-£30. The equivalent
figure for the UK's meters is around £57," said Jon Lane, energy director at

The higher costs are down to the sophisticated nature of the UK smart meter
system, according to Datamonitor. It said the roll-out would involve
multi-utilities with a central communications provider to collect and
provide metering data to market participants and a centralised procurement
programme to deliver economies of scale.

"All of this makes the UK's smart metering programme expensive. All-in costs
including gas meters were originally estimated at £136 per household but the
more recent decision to fit modular meters may push up the cost further,"
said Lane.

First Utility started rolling out energy-efficient smart gas and power meters across Britain on Wednesday

First Utility started rolling out energy-efficient smart gas and power
meters across Britain on Wednesday, becoming the first UK energy provider to
do so, the independent utility company

"Households across the UK can now take advantage of the benefits that smart
meters bring -- from increased visibility of their energy usage through to
accurate bills," Chief Executive Mark Daeche said.

Smart meters -- which supply real-time energy usage data to the energy
provider and customers -- are seen as the first step in developing a smart
power grid to help balance the installation of intermittent renewable
electricity generation.

Isle of Grain LNG terminal will receive a liquefied natural gas cargo from Qatar this week

The U.K.'s Isle of Grain LNG terminal will receive a liquefied natural gas
cargo from Qatar this week, AISLive data shows. The Al Huwaila, which can carry 214,176 cubic meters of the fuel cooled to a
liquid, will arrive at the terminal east of London on Oct. 31, according to
the data. The Isle of Grain can import 9.8 million tons of LNG a year. Centrica Plc,
GDF Suez SA, Algeria's Sonatrach and BP Plc have import capacity at the

Wednesday, 27 October 2010

UK Gas Prices Ease on First LNG Diversion from France

British gas prices eased across the board on Tuesday as supply from Norway
was strong and French port strikes raised the likelihood for more liquefied
natural gas (LNG) cargo diversions to Britain, traders said. The BW Suez
Everett LNG tanker which was destined for Montoir in France has been
diverted to Britain's Isle of Grain terminal.

£200bn National Infrastructure Plan Announced by Prime Minister

Tuesday, 26 October 2010

The Top 5 Innovative and Cost Effective Renewable Energy Resources...

The pros and cons of geothermal energy

UK to import more LNG gas this winter to support shortfalls...

MPs could call time on 'energy-sapping' GMT

MPs will this week consider whether keeping British Summer Time (BST)
throughout the winter and putting the clocks forward an additional hour in
summer would drastically reduce the UK's energy use.

Campaign groups have long claimed that extending BST through the winter,
rather than falling back to Greenwich Mean Time (GMT), would result in lower
bills as homes and businesses use less
business energy when evenings are

A study published earlier this year also found that about 447,000 tonnes of
CO2 emissions would have been saved if the clocks were not put back each
year between 2001 and 2008, equating to electricity savings of 885GWh -
enough to supply 200,000 households - and a reduction in peak demand of 4.3
per cent.

On Thursday the Energy and Climate Change Committee (ECCC) will hear
evidence from the lead researcher of that study, Dr Elizabeth Garnsey of
Cambridge University's Department of Engineering. The hearing comes just
days before the UK once again resets to GMT.

Monday, 25 October 2010

Bahrain set to open $600 mln LNG terminal tender

Non-OPEC producer Bahrain has almost finalised a tender inviting companies
to build a $600 million liquefied natural gas (LNG) terminal, an executive
from the Bahrain Petroleum Company (BAPCO) said on Monday.

"The RFP (request for proposals) will be out today or tomorrow," Essa
al-Ansari, general manager at Bapco for major engineering projects told
reporters on the sidelines of a conference.

He said it would take the 14 international oil firms that are qualified to
bid around 16 weeks to submit their final offers.

The terminal would cost at least $600 million, Ansari said, with a capacity
of 400 million cubic feet per day (cfd), which may be expanded to 800
million cfd.

Centrica looking to axe £1.5m gas storage schemes

Centrica, the UK's biggest energy firm is considering abandoning its £1.5
billion plans to build two gas storage facilities in the North Sea.

The energy group, which owns British Gas and Scottish Gas, needs financial
help from the Government to subsidise the project, which would increase
Britain's storage capacity by one-third.

A final investment decision is due to be taken early next year, but it is
understood in the current economic climate the projects will be shelved by

Gas prices fell to a new low for the year in New York last Thursday after
the US Government reported that American supplies grew more than expected in
the preceding week.

The US Energy Information Administration said stocks of natural gas held in
underground storage grew by 93 billion cubic feet.

The larger of the two Centrica projects, being led by construction firm
Baird, would hold 1.7 billion cubic metres of gas, while the second facility
developed by Bains would hold 570 million cubic metres.

The move will be a blow for the Coalition Government, which has set a target
of increasing Britain's gas security as the country becomes increasingly
reliant on imported supplies.

UK gas rises as storage input expected to fall

British prompt gas prices firmed early on Monday as supply from liquefied
natural gas (LNG) terminals dropped and as traders expected lower
withdrawals from storage sites would reduce supply later in the session.

Gas for delivery on Tuesday rose to 47.95 pence per therm, up 0.45 pence
from Friday's session, while gas for immediate delivery was 0.55 higher at
48.05 pence.

"The length (abundant supply available) is caused largely by storage
withdrawals, which don't make sense, so they will be priced off pretty
quickly," said a British gas trader.

Friday, 22 October 2010

China's LNG Imports May More Than Quadruple by 2015, LNG Shipbuilder Says

China may more than quadruple imports of liquefied natural gas in the six
years through 2015 because of increased consumption of the cleaner-burning
fuel, said an official from the nation's only builder of LNG vessels. Imports may rise to 25 million metric tons a year as the nation's energy
demand is climbing, Shen Ning, vice director of business and marketing at
Hudong-Zhonghua Shipbuilding (Group) Co., said in an interview in Shanghai
yesterday. Hudong-Zhonghua Shipbuilding has built all of the nation's LNG
tankers. China's LNG imports surged 66 percent to 5.5 million tons last year from a
year earlier. The world's biggest polluting nation wants to triple the use
of gas to about 10 percent of energy consumption by 2020. The shipbuilding company, a unit of China State Shipbuilding Corp., has
delivered five LNG vessels to transport the fuel to domestic terminals and
is building another 145,000 cubic-meter LNG tanker, Shen said.

UK Axes World’s Largest Renewable Energy Project

Thursday, 21 October 2010

Government Scheme to Aid Small Businesses Become Greener

Smart meters need single network, say BT partners

The government should go for a single, long-range radio-based network,
separate it from existing networks, and classify it as critical national
infrastructure, says the SmartReach consortium in its submission on the UK's
£10bn smart meter project.

The consortium, which consists of BT, Arqiva and Detica, was responding to
government calls for ideas on how to equip 26 million premises with 47
million new smart meters for gas and electricity. The aim is to cut energy
use and lower the country's CO2 emissions by 2.6 million tonnes a year.

SmartReach is pitching for the network that would link all the meters to
central or regional processing centres.

It said a single network would cut costs compared to having several service
provider contracts, and would reduce system integration risks. It called for government to speed up deployment plans and to do things in
parallel. Procurement should start in early 2011, it said. This would reduce
risk by allowing more time for procurement and testing. It would also speed
up returns on investment and carbon savings.

SmartReach said existing mobile networks might reach only 70% of households.
It would be expensive for them to reach the other 30%, it said.

UK gas firms on lower storage withdrawals, Norway

British gas prices firmed on Thursday after Rough storage withdrawals turned
down and Norwegian flows via Langeled edged lower, effectively lifting the
whole curve on a tighter system, traders said.

Gas for Friday traded at 47.85 pence per therm at 1133 GMT, up 0.40 pence
from the previous session day-ahead close, while November was up 0.25 pence
at 47.35 pence ($7.48 per mmbtu) and December increased 0.45 pence 48.90

"Storage flows are down. Langeled's flowing 57 mcm (million cubic metres)
instead of 65 or 70, so just tightening the system and the curve is going
with it," one gas trader said.

National Grid data showed Rough flows fell 14 mcm to 6 mcm early in the
session before resuming withdrawals, while Langeled dropped around 6 mcm.
Supplies were tight, with Thursday UK
business gas demand forecast to be
45 mcm above seasonal norms at 337 mcm, National Grid website showed.

Five Reasons Why Carbon Management Software is the Next Big Thing...

Wednesday, 20 October 2010

More carbon, less productivity?

8 new nuclear power station sites approved by UK government

UK: Gas Prices Ease on First LNG Diversion from France

Public cuts won't hit UK green energy targets

Britain's coalition government will stick to its promise to be the greenest
ever despite huge cuts in public spending, Secretary for Energy and Climate
Change (DECC) Chris Huhne told Reuters on Tuesday. Government departments have been told to cut their budgets by 25 to 40
percent over the next four years to help reduce the national deficit, with
the results of the spending review due on Wednesday.

The review could impact funding for renewables energy schemes such as an
offshore wind port infrastructure competition and solar power feed-in

"We're not going to be put off by the small matter of the public spending
review," Huhne said on the sidelines of the European Future Energy Forum

But he declined to comment on whether the 60 million pound ($94.69 million)
port competition would go ahead, despite media reports that it would survive
the cuts.

Renewable energy plans in UK will include eight nuclear power stations

Government in the UK has approved plans for eight sites where nuclear power
plants will be operational by 2025. The approval puts the UK in the
position of being a leader in the area of nuclear renewable energy.

According to, the backing for a new generation of nuclear
power stations marks a significant political compromise by the climate and
energy secretary, Chris Huhne, after the Liberal Democrats had campaigned
against new nuclear in the general election. The Conservatives, however, had
backed new nuclear power stations. Today's announcement by the Department of Energy and Climate Change will see
nuclear power plants operating at eight sites within the next decade:
Bradwell, Essex; Hartlepool; Heysham, Lancashire; Hinkley Point, Somerset;
Oldbury, South Gloucestershire; Sellafield, Cumbria; Sizewell, Suffolk and
Wylfa, Anglesey. All are in the vicinity of existing nuclear power plants. Huhne said: "I'm fed up with the stand-off between advocates of renewables
and of nuclear which means we have neither. We urgently need investment in
new and diverse energy sources to power the UK." The coalition has stressed that new reactors will have to be built without
public money. Earlier this year, energy minister Charles Hendry told a
nuclear industry audience: "The coalition agreement clearly sees a role for
new nuclear, provided that there is no public subsidy. We are clear. It is
for private sector energy companies to construct, operate and decommission
new nuclear plants. It will be for us to ensure the appropriate levels of
safety, security and environmental regulation."

UK to import more LNG this winter...

Tuesday, 19 October 2010

High cost of UK offshore wind dissected

The cost of offshore wind "deployment" in the UK may have been reached its
peak, concludes a detailed investigation of the reasons behind dramatically
rising costs that affected the offshore wind sector during the 2005-2009
period. Achieving significant cost reductions will require concerted and
thoughtful action by policymakers, argues a report by the technology and
policy assessment division of the UK Energy Research Centre (UKERC).

Presented as a "thorough review of the current state of knowledge" on the
cost of developing offshore wind farms in the UK, the report disaggregates
key cost components, suggesting that while "meaningful" cuts are unlikely
during the period to 2015, there are grounds for "cautious optimism" that
costs will have fallen significantly by the mid-2020s, perhaps by 20%. The
report also stresses that rising costs should not be viewed as a complete
surprise, since many "emerging technologies" experience a period when costs
rise quickly.

Smart energy meters investigated

Smart energy meters are being installed by electricity suppliers across the

They are the latest digital devices that allow utility companies and their
customers to keep an eye on consumption of electricity and gas.

The Government planned for every home in the UK to have a smart meter
installed by the year 2020, although the reluctance of some power companies
to install them means we may not see them appearing en masse until around

However, some utility companies have begun trials and others have said they
will start soon.

The first company to issue smart meters was the aptly named First Utility,
which has been installing the meters in homes of new customers since
September 2008. British Gas has also started sending out what it calls
Energysmart meters to customers on certain tariffs.

What is a smart meter? Smart meters are not to be confused with the home energy monitors that you
may have seen (we have reviewed several). Those monitors are known in the
industry as indirect metering devices.

They work by having a sensor clamped on to the live supply wire of your
home's electricity to measure the consumption based on the signals coming
through the wire.

Read more:

Ten "Top 10" Lists on the Triple Bottom Line

Every year, hundreds of "Top 10" Lists are posted online. You've seen them
all before: The Top 10 Greenest Colleges in America, The Top 10 Creative
Websites, The Top 10 Sexiest Bachelors in America, The Top 10 Pieces of Food
That Look Like Giraffes, and The Top 10 Chuck Norris Quotes. There are
countless Top 10 Lists and that is completely fine--lists help us organize
and clarify.

However, it is important to filter out the junky lists from the informative
ones; otherwise, you could spend an entire day staring down an infinite
online-abyss of lists. If there are thousands of lists out there, which can
you trust? Which are accurate?

In an effort to provide direction in the Triple Bottom Line realm, we've put
together a Top 10 List of some informative TBL-related "Top 10" Lists
online. Yes, a Top 10 List of Top 10 lists:

Britain's energy prices are on the rise again...

UK Renewable Energy Production Down by 12%

NI targets 40% alternative energy by 2020

NI's new energy strategy sets a target of 40% of electricity to come from
alternative energy sources by 2020. The strategy aims to reduce reliance on fuels such as coal, gas and oil. Less than 10% of NI's electricity is currently generated from alternative
energy, mainly land-based wind farms. Reaching the target will need large offshore wind farms, tidal turbines like
Seagen in Strangford Lough and even using energy from controversial sources
including waste incinerators.

BBC Northern Ireland environment correspondent Mike McKimm this process
would not be cheap and could add as much as £100 to consumer bills. "The alternative though would leave us at the mercy of international oil and
gas prices which are expected to rise dramatically over the next few years,"
he added.

Monday, 18 October 2010

Good Energy Group Six-month Profit Rises

Good Energy Group Plc reported that its six-month ended 30 June 2010 profit
increased to GBP 246,121 from GBP 169,681 in the previous year. On a per
share basis, profit was 3.1 pence, up from 2.2 pence in the prior year

Profit before tax increased to GBP 365,254 from GBP 273,157 last year.

Revenue rose 5.5% to GBP 10.21 million, from GBP 9.68 million, mainly as a
result of the increase in customer numbers for both gas and electricity.

The company said that it expect the new Delabole wind farm to be fully
functional by the end of the year, which will provide Good Energy with
around 20% of its renewable requirements.

EDF to be held to account over Twickenham World Cup power cut

Utility companies were warned they would be held to account over mistakes
that lead to disrupted services following the fallout from June's power cut.

At a public meeting last Tuesday the council's environment, sustainability
and community scrutiny committee questionned energy company EDF over power
cuts, which saw thousands of Twickenham residents miss England's World Cup
goal against the US. Committee chairman Councillor David Porter said: "It is important utility
companies know they have to answer for any mistakes that are made." The review of the failure which left homes, shops and businesses without
power revealed a faulty component in the ultra-high voltage power cable
network between Laleham and Twickenham.

UK 'needs domestic wind energy industry'

The UK government should build a home-grown wind power industry if it wants
to meet EU targets on renewable energy, a report concludes.

The UK Energy Research Centre (UKERC) says this would significantly bring
down the costs of offshore wind power.

The price of building offshore wind farms in has doubled in five years.

The report, Great Expectations, suggests that the UK can learn from
countries such as Spain that recently boosted their wind power industries. Analysts suggest that in order to meet its EU target of producing 15% of its
energy through renewables by 2020, the UK will need to have 15-20 gigawatts
(GW) of wind energy capacity installed offshore. Despite some recent developments such as the opening of the Thanet wind farm
off the north Kent coast - the biggest offshore wind farm in the world - the
UK's current total capacity offshore is just under 1.5GW.

Friday, 15 October 2010

Age of cheap oil coming to an end

GLOBAL supplies of conventional oil are likely to peak by 2030, with a
"significant risk" of a peak before 2020, a new assessment by the UK Energy
Research Centre (UKERC) has concluded.

"There is a growing consensus that the age of cheap oil is coming to an
end," the UKERC study, "Global Oil Depeletion", says.

The authors warn that without early investment in strategies to reduce oil
demand and deliver new energy sources, dwindling supplies of cost-effective
energy from conventional oil could cramp the global economy.

The US Department of Energy has calculated that such investment would need
to begin at least 20 years before oil supplies peak to avoid serious energy

UKERC acknowledges that there a large uncertainties in predicting the timing
of "peak oil", but argues that there is sufficient information available to
make an adequate assessment.

It puts the timing of "peak oil" somewhere between 2009 and 2030.

"Although this range appears wide in the light of forecasts of an imminent
peak, it may be a relatively narrow window in terms of the lead time to
develop substitute fuels," the authors say.

SSE making solid progress

Energy supplier Scottish and Southern Energy (SSE) has assured the market it
is on course to deliver on its pledge of above-inflation dividend increases.

The company has set a principal financial objective for 2010/11 of an
increase in the dividend of at least two percentage points above the Retail
Prices Index inflation rate while maintaining a dividend cover consistent
with its established range, and said it is on course to meet this objective.

Prior to entering its close period on 1 October prior to announcing its
results on 10 November, the company gave a quick round-up of progress on its
major projects. On the most advanced of the projects, the Clyde onshore wind farm, the first
turbines have been delivered to the site and work on installation is due to
start this autumn.

Support needed for offshore wind industry

More support is needed to boost a "home-grown" offshore wind industry in the
UK, to reduce the high costs of the green energy source, a report said

Offshore wind costs have risen sharply over the past few years, despite
expectations when the technology was first deployed a decade ago that the
cost of building wind farms and generating electricity would fall
substantially over time.

Around 80 per cent of the average offshore wind farm is currently imported
from abroad, and support is needed to develop innovation and a better supply
chain in the UK to help cut costs, the report from the UK Energy Research
Centre said.

The industry has been at the mercy of commodity price increases,
fluctuations in currencies and supply chain shortages and bottlenecks, as
well as delays in the planning system which saw the average wind farm take
seven to nine years to get up and running.

The report's chief author, Robert Gross, head of technology and policy
assessment at UKERC, said: "The UK is not yet fully benefiting from being a
world leader in the field; in effect UK consumers are subsidising Danish and
German wind energy companies.

"This report suggests that policies could do more both to bear down on costs
and support a UK-based industry."

While costs have risen for all types of energy over the past five years, in
offshore wind power the rise has been particularly dramatic, and the sector
is not likely to see meaningful falls before 2015.

The report said offshore wind was still in its infancy, adding that many
developing technologies went through a period where costs rose before they
fell. The report calls for "targeted and direct" support for the supply
chain to develop a UK-based industry, while funding for innovation in
offshore wind technology should be given a priority in research, development
and deployment programmes.

The study also said the government should revise the payments to energy
companies for generating renewable energy from offshore wind so that they
send a long-term signal that support levels would gradually decrease over
time - putting the onus on firms to reduce costs.

Thursday, 14 October 2010

Severn Trent invests in biogas to meet renewable targets

With the potential to generate 15GWh of electricity each year, the UK's
first large scale anaerobic digester to run purely on energy crops is
nearing full production. Andy Collings reports

Take 37,000t of forage maize, 2500t of whole-crop wheat, a £15m digester and
two 1500hp, V-20, 60-litre engines and you have the means to generate 15GWh
of electricity each year - enough to power 4000 homes.

Severn Trent Water's latest project - the UK's first large-scale anaerobic
digester to run wholly on energy crops - is on schedule to meet an
end-of-year deadline for full electricity production.

A company keen to exploit renewable energy, Severn Trent has no fewer than
52 gas-powered engines on 35 water treatment sites. Total production last
year was 183GWh, representing 20% of the company's annual electricity bill. The new digester, however, based at Stoke Bardolph, Nottinghamshire, is in
another league. Work started in the spring of 2009 with the construction of
five large silage clamps - each of which can hold about 7500t of ensiled
maize or whole crop wheat.

RWE, Scottish & Southern Lack Cash to Meet Climate Targets, Citigroup Says

European utilities including Scottish & Southern Energy Plc and RWE AG will
struggle to invest the 938 billion euros ($1.27 trillion) needed to meet
climate change targets and replace aging power plants and networks by 2020,
according to Citigroup Inc. "Governments in Europe appear to believe that the utility sector can more
than double its historic capital expenditure and sustain that for ten
years," Citigroup analysts led by Peter Atherton and Manuel Palomo said
today in a note to investors. "Many governments are ignoring the facts on
the ground and taking no account of their own actions." Utilities in Germany, France, Spain, the U.K. and Italy will face a
financing shortage of about 277 billion euros as they seek to replace
nuclear reactors, build new gas-fired power plants and invest in offshore
wind projects, the analysts said. Total spending of 653 billion euros will
"stretch the sector balance sheets to the limits," they said. The 27-nation European Union aims to more than double the share of energy
from renewable sources, including wind and solar power, to an average 20
percent by 2020. Many of the continent's power stations and electricity
networks were built in the 1960s and 1970s and need to be replaced, the
analysts said. The average age of a combined-cycle gas turbine power plant
is 33 years in the U.K. and 30 years in Germany, they said.

Shale Gas Will Rock the World

There's an energy revolution brewing right under our feet. Over the past
decade, a wave of drilling around the world has uncovered giant supplies of
natural gas in shale rock. By some estimates, there's 1,000 trillion cubic
feet recoverable in North America alone-enough to supply the nation's
natural-gas needs for the next 45 years. Europe may have nearly 200 trillion
cubic feet of its own.

We've always known the potential of shale; we just didn't have the
technology to get to it at a low enough cost. Now new techniques have driven
down the price tag-and set the stage for shale gas to become what will be
the game-changing resource of the decade.

I have been studying the energy markets for 30 years, and I am convinced
that shale gas will revolutionize the industry-and change the world-in the
coming decades. It will prevent the rise of any new cartels. It will alter
geopolitics. And it will slow the transition to renewable energy.

To understand why, you have to consider that even before the shale
discoveries, natural gas was destined to play a big role in our future. As
environmental concerns have grown, nations have leaned more heavily on the
fuel, which gives off just half the carbon dioxide of coal. But the rise of
gas power seemed likely to doom the world's consumers to a repeat of OPEC,
with gas producers like Russia, Iran and Venezuela coming together in a
cartel and dictating terms to the rest of the world.

Wednesday, 13 October 2010

Environment Agency confident over CRC deadline

The Environment Agency is increasingly confident that the vast majority of
organisations required to participate in the government's Carbon Reduction
Commitment (CRC) scheme will meet this week's deadline to register. has learned that between 2,600 and 2,700 organisations
have now registered as full participants in the scheme, meaning that the
Environment Agency is just a few hundred short of the roughly 3,000
organisations it expects to be covered by the scheme.

The government had originally said that around 5,000 businesses and public
sector bodies would be required to take part in the carbon pricing and
energy efficiency scheme. However, it has subsequently revised the number of
full participants down after a larger than expected number of conglomerates
registered with the Environment Agency, meaning that between 3,000 and 3,500
organisations are now expected to participate in the scheme.

"We are expecting another couple of hundred to register before the Thursday
deadline and are hopeful that we will get through the 3,000 mark," said a
spokeswoman for the agency, which is tasked with managing the scheme.

Under the rules of the CRC, organisations which use more than 6,000MWh of
electricity a year must register as participants in the scheme and provide
annual information on their energy use. Meanwhile, all organisations with a
half-hourly electricity meter have to register as an information declarer,
confirming that they do not use enough energy to qualify for the scheme.

Shale Gas and the Environment: Engaging with the Public

"Communication with the Public," the title of an interactive session at the

Shale Gas Forum in Berlin, Germany, is not an easy task, especially when it
comes to reaching out to the public on energy-related projects that may
affect them.

Prof. Mike Stephenson, Head of Science, Energy at the British Geological
Survey, offered a case study example of how things can go awry.

"In the UK we've been working quite intensively on carbon capture storage
(CCS), introducing storing gas in salt," he said. "In Britain we've been
doing it for many many years, and it's known as one of the safest ways of
storing gas."

Stephenson said the site in question was near Blackpool, where concerned
citizens came to the fore after hearing about the construction of a CCS
facility "in their back yards."

"They are retired people, people with access to the Internet, people worried
about their house prices," he explained. "They had a bourgeois reaction."

"Just Google 'gas storage accident'," suggested Stephenson. "That was enough
to kick start an enormous campaign against gas storage, and it became an
easy way to make gas storage a frightening thing among the public."

He said this was a shame in that Britain had only nine days of reserve gas
storage compared to Germany's 70 days.

"I imagine that the reaction to shale gas will be similar," he stated.

Stephenson said that he had been engaged in a research project with
Cambridge University on acceptance of numerous energy issues, like CCS. "The
public are invited to a venue where I've given talks, I'm asked to leave and
then psychologists and sociologists monitor their opinions. Basically, the
result is you see extraordinary levels of ignorance from the public."

Tuesday, 12 October 2010

BT and IMSERV Sign Long Term Deal

IMServ, a leading carbon and energy consultancy and part of Invensys
Operation Management, has won its biggest ever contract with BT, the UK's
largest telecoms provider. IMServ has been working with BT for the last nine
years and the contract renewal follows a competitive tender process.

The five year contract comprises the collection of data relating to
electricity consumption from Half Hourly and Non Half Hourly automated
meters (AMRs), managing an existing portfolio of 20,000 meters throughout
the UK mainland and the highlands. In addition, IMServ will provide further
meters for Openreach to support the roll out of Super Fast Broadband. IMServ
will also provide meters to BT for its submetering tenants to monitor
electricity in their telephone exchanges.

Andrew Houlston, Procurement Manager, BT said:

"This contract represents a critical element of our strategy to reduce our
energy consumption and carbon emission to meet our carbon reduction and CSR

We have had an excellent working relationship with IMServ to date and we
needed a safe pair of hands to deliver a project of this scale."

Steve Brown, Managing Director, IMServ commented on the deal: "This deal
with BT is fantastic for the business and it reflects our expertise in
complex, large scale AMR installations. It's a great endorsement from BT
that our nine year relationship has been extended and this contract
represents the largest so far in 2010."

Britain's offshore windpower costs twice as much as coal and gas generated electricity

Britain's so-called "dash for wind" means that it is now the biggest off
shore generator - producing as much as the rest of the world put together. But costs of building the farms have doubled due to spiralling prices for
steel and the drop in the value of the pound. The running costs are also increasing. The report found that costs have risen for all kinds of generation but off
shore wind farms remain by far the most expensive - 90 per cent more than
fossil fuel generators and 50 per cent more than nuclear. The news is bound to lead to question over the government's policy of using
wind power to meet its target to generate around a third of its electricity
from renewables by 2020. But the authors of the report at the UK Energy Research Centre (UKERC), a
government think tank, said they remained "cautiously optimistic" that wind
can play a significant contribution to the zero carbon energy production for
Britain. "We think that there are grounds for cautious optimism," said Dr Robert
Gross, of Imperial College London, who headed the report. "Yes it is more expensive than gas and coal and is unlikely to reach parity
for at least 20 years but we still think it is a worthwhile energy producer.

"All alternatives such as nuclear and carbon capture are bound to have
teething problems too." With the opening of Thanet wind farm in the North Sea last week Britain
became the biggest offshore wind generator in the world. The world's biggest ocean wind farm off Foreness Point, Kent, it has 100
turbines, each measuring more than 300ft, and will power more than 200,000

Coalition mulls over earlier date for universal smart meter rollout

Ofgem consults with energy firms and smart meter manufacturers over
viability of accelerated rollout

Energy minister Charles Hendry is actively considering moving the target
date for the UK's universal rollout of domestic smart meters
forward from 2020 to 2018, in a move
designed to accelerate ambitious plans requiring tens of thousands of smart
meters to be installed each week for much of the next decade. Earlier this summer, the Department of Energy and Climate Change (DECC)
released its Smart Meter Prospectus, confirming the coalition wants to
"accelerate significantly" the rollout of smart meters compared with the
previous government's published targets.

Industry sources have now confirmed Hendry is pushing both energy firms and
market watchdog Ofgem to investigate moving the target date forward by two
years as part of efforts designed to make smart meters a central component
of the coalition's climate change strategy.

"Charles Hendry talks regularly about reaching a 2018 target," said Stephen
Cunningham, chief executive for the UK and Ireland at smart meter giant
Landis+Gyr. "That is helping a more ambitious target get baked into Ofgem's
thinking." has also learned that Ofgem wrote to energy suppliers and
smart meter firms earlier this month requesting information on whether an
accelerated rollout is technically and economically feasible.

In particular, it asks for information on the "magnitude, timing and
probability of any increased costs and risks" associated with an earlier
target date and a view on "the likelihood of any supply chain or other
constraints arising".

Monday, 11 October 2010

Most businesses lack tools to meet their carbon commitments

As many as two-thirds of the 20,000 UK businesses that will be affected by
the CRC Energy Efficiency Scheme (CRC) do not have sufficient software
systems in place to analyse their performance.

This is according to an independent report released today by ERP software
provider IFS.

This information comes the day before registration closes for the
Environment Agency scheme, which stipulates that businesses must constantly
monitor electricity, gas and static fuel use.

Alastair Sorbie, CEO of IFS, said: "Like a lot of initiatives originating
from Europe, not enough attention is being paid to the immediacy of the CRC.

"You can't hide from the fact that many UK businesses now have to build
these systems to track and report on environmental impact. Non-compliance
will affect your business."

Sorbie's comments come after a recent report from British Gas Business,
highlighting the fact that thousands of UK businesses that qualify for CRC
monitoring and should have registered by 30 September have not yet done so,
even though this could mean a fine of up to £45,000.

To qualify for the CRC, a business has to have had a total half-hourly
electricity consumption of over
6,000 mega watt-hours during 2008.

Read more:

Siemens To Assist Gazprom With LNG Technologies

Siemens AG is planning to enlarge its presence in Russia by setting up the
Russian Turbo Machinery joint venture to manufacture compressors in Perm.
"The first compressor is to be built in 2011 and the first order is expected
in October", Siemens Energy Sales Department Director in Russia Sergey
Kuzmin told journalists during a news conference. The project envisions an
investment of 60 million euros to build new, greenfield production facility
and production capacity increases over the next three years.

Friday, 8 October 2010

Why Energy Efficiency Does not Decrease Energy Consumption

Why Energy Efficiency Does not Decrease Energy Consumption

By Harry Saunders

I recently co-authored an article for the Journal of Physics ("Solid-state
lighting: an
energy-economics perspective" by Jeff Tsao, Harry Saunders, Randy Creighton,
Mike Coltrin, Jerry Simmon, August 19, 2010) analyzing the increase in
energy consumption that will likely result from new (and more efficient)
solid-state lighting (SSL) technologies. The article triggered a round of
commentaries and responses that have confused the debate over energy
efficiency. What follows is my attempt to clarify the issue, and does not
necessarily represent the views of my co-authors.

More Efficient Lighting Will Increase, Not Decrease, Energy Consumption

Our Journal of Physics article drew on 300 years of evidence to shows that,
as lighting becomes more energy efficient, and thus cheaper, we use
ever-more of it. The result, we note, is that "over the last three
centuries, and even now, the world spends about 0.72% of its GDP on light.
This was the case in the UK in 1700 (UK 1700), is the case in the
undeveloped world not on grid electricity in modern times, and is the case
for the developed world in modern times using the most advanced lighting

The implications of this research are important for those who care about
global warming. In recent years, more efficient light bulbs have been widely
viewed as an important step to reducing energy consumption and thus
greenhouse gas (GHG) emissions. Moreover, the Intergovernmental Panel on
Climate Change (IPCC) of the United Nations and the International Energy
Agency (IEA) have produced analyses that assume energy efficiency
technologies will provide a substantial part of the remedy for climate
change by reducing global energy consumption approximately 30 percent -- a
reduction nearly sufficient to offset projected economic growth-driven
energy consumption increases. Many have come to believe that new, highly-efficient, solid-state lighting
-- generally LED technology, like that used on the displays of stereo
consoles, microwaves, and digital clocks -- will result in reduced energy
consumption. We find the opposite is true, concluding "that there is a
massive potential for growth in the consumption of light if new lighting
technologies are developed with higher luminous efficacies and lower cost of
light." The good news is that increased light consumption has historically been tied
to higher productivity and quality of life. The bad news is that energy
efficient lighting should not be relied upon as means of reducing aggregate
energy consumption, and therefore emissions. We thus write: "These
conclusions suggest a subtle but important shift in how one views the
baseline consequence of the increased energy efficiency associated with SSL.
The consequence is not a simple 'engineering' decrease in energy consumption
with consumption of light fixed, but rather an increase in human
productivity and quality of life due to an increase in consumption of
light." This phenomenon has come to be known as the energy "rebound" effect.

Wind Power Now Lucrative Energy Option for UK Consumers

Southwest Windpower´s turbine is now MCS Certified
Southwest Windpower, the world´s leading supplier of small wind generators,
has received product certification for its Skystream 3.7(R) wind turbines
under the Microgeneration Certification Scheme (MCS), enabling customers who
install a Skystream wind turbine to qualify for the UK government´s Feed-in
Tariffs (FiTs) or Clean Energy Cash-Back Scheme.

Introduced by the Department of Energy and Climate Change (DECC), the FiT
system was developed to encourage small scale (less than 50kW), low carbon
electricity generation. The tariffs became available on April 1, 2010 and
are designed to significantly offset monthly costs with income received from
renewable energy production.
"Receiving the MCS certification marks a huge milestone for Southwest
Windpower in the European market, " said Dixon Thayer, Chief Executive
Officer of Southwest Windpower. "Through government incentives, wind energy
will now be available at a competitive cost for consumers across the UK."
Under the scheme, consumers who install MCS certified wind turbines (more
than 1.5kW) will be paid 26.7p per kWh generated and receive an additional
3p for every kWh that is exported back to the grid. During the tariff´s
20-year lifespan, Southwest Windpower customers can expect to recoup their
investment while reducing their energy costs.

UK renewables electricity supply falls 12% in Q2 of 2010

Renewables supplied 12% less of the UK's electricity in the second quarter
of 2010 than in the same period last year, according to the latest
Department of Energy and Climate Change (DECC) statistics published today
(September 30).

According to this month's issue of energy trends, the period saw electricity
supplied from hydro fall by 32%, which has been attributed to less rainfall,
while wind production saw an 11% decrease on last year's levels, reflecting
lower wind speeds.

The figures were published alongside Feed-in Tariff (FiT) statistics
covering installed capacity for the first quarter of the scheme (April 1 -
June 30) - showing that 15.2MW of renewables capacity, across 2,771
installations, was included under the scheme by the end of the quarter.

According to the Department, the figures are based on date of confirmation
so will include schemes installed prior to Q2 2010, but after July 2009.

The solar photovoltaics (PV) market has seen the biggest surge in interest
since the introduction of the incentive scheme, with 98% (over 2,700) of all
FiT installations being PV- the majority of which were retrofitted sub-4kW
arrays mainly on domestic properties, says DECC.

However, due to the smaller size of these installations, DECC notes that
they have actually only contributed 44% of the total FiT capacity so far, at


Thursday, 7 October 2010

U.K. Coal Imports Tumble to 11-Year Low as Power Generators Use More Gas

U.K. coal imports declined to the lowest level since 1999 in the second
quarter as power generators used up stockpiles. Natural gas shipments rose
as local supply fell and electricity generators favored the fuel. U.K. second-quarter coal imports declined 45 percent from a year earlier to
5.3 million metric tons, the Department of Energy and Climate Change said
today in a quarterly report. Coal stockpiles were at 20.2 million tons at
the end of June, 0.8 million tons lower than last year, the DECC said. About 80 percent of Britain's power stations are fed with fossil fuels and
some utilities can switch feedstock depending on prices. Lower natural gas
prices, relative to coal costs, raise the profitability from gas-fed
stations. U.K. second-quarter natural
commercial gas imports increased 54 percent to 128.2 terawatt-hours while
exports advanced 28 percent to 58 terawatt-hours, the DECC said. Liquefied
natural gas accounted for about a third of total imports, according to the
department. Demand for the fuel rose 9.6 percent from a year earlier to
219.5 terawatt-hours.

One in five businesses may have got CRC wrong

One in five businesses registered for the Carbon Reduction Commitment (CRC)
scheme may have given the wrong information, according to research.

The scheme, which had a deadline of yesterday (September 30) to sign up to,
has already been branded 'too complex' by the Committee on Climate Change. Energy firm npower has polled 100 UK financial directors revealing 23% found
the process confusing. Another 24% also reported issues with compiling data from multiple sites
across their business, and one in 10 didn't fully understand what was
required of them to complete registration. Head of business energy services at
npower, Dave Lewis, said: "If collecting the required information together
was problematic, then going forward, many may well find the ongoing
obligations of the scheme equally challenging.


Wednesday, 6 October 2010

BSI Companies Can Cut Energy Costs by up to 30

too many organizations use too much energy. This is simply because they are
not looking closely and systematically enough at their energy usage. A
powerful new

tool will allow companies to reduce costs considerably. The BSI Kitemark(R)
scheme for Energy Reduction Verification (ERV) will verify and certify those

organizations that achieve a reduction in carbon emissions through lower
energy consumption. Businesses will not only be able to cut costs, they will
also be

contributing to the global efforts on fighting climate change.

Rob Wallis, BSI Managing Director, EMEA Region confirms: "We know by
experience that companies can save as much as 30% in energy costs. This can
be achieved

through an energy efficiency programme managed from A to Z to make sure that
all aspects are taken into account".

It has been estimated that in the UK, there are 5,000 heavy energy users -
with an annual electricity demand of over 6,000MWh - who are required by the

government to register for the Carbon Reduction Commitment (CRC) Energy
Efficiency Scheme, the UK's new energy efficiency scheme by 30 September.

Missing this deadline could cost companies thousands of pounds in fines.
With only days to go it is surprising to see that of those companies
required to

participate still only about 50% have registered.

Ofgem to review gas and electricity grid charges

Ofgem is to undertake a comprehensive review of gas and electricity grid
charges to ensure that a consistent approach is adopted for both.

Alistair Buchanan, Ofgem's chief executive, said that the so-called Project
TransmiT will consider whether the way in which grid costs are shared
between users needs reforming.

As a first step Ofgem will be seeking views on the scope and priorities for
the review. Initial proposals will be published in spring 2011 with a
decision on taking the proposals forward to follow in the summer.

Read more:

Britain's energy prices are on the rise again...

Tuesday, 5 October 2010

Gas & Electricity bills 'may double over next decade'

Human waste turned into renewable gas to power homes

UK advisory body recommends Carbon Reduction Commitment redesign

The Committee on Climate Change (CCC) has made a recommendation to the UK
government to re-design the recently-introduced Carbon Reduction Commitment
(CRC) energy efficiency scheme in order to reduce its complexity before
starting its second phase, which will last from 2013 to 2017.

Under the CRC scheme, large public and private sector organisations must buy
allowances to cover their emissions produced from electricity and heat

Following a recent study on the initiative, the CCC has made the
recommendation that the scheme would benefit from being simplified.

The scheme is planned to set a cap from 2013 on emissions with a fixed
number of allowances made available to organisations through an auction

However, the committee's analysis suggests that the already complex scheme
would become increasingly so if a cap and auction system were to be
introduced, which it said has no apparent benefits.

Monday, 4 October 2010

How Is Wind Energy Transferred Into Electricity Using Renewable Energy System?

Creating electricity at home without having a negative impact on our
environment is increasing in demand. Collecting the kinetic energy found in
the wind is one way of doing this. This method does not use natural
resources and is kind to the environment.

The sun heats the surface of our earth unevenly. This causes the air
currents that are the force behind wind. The energy in the wind, kinetic
energy, can be collected and turned into electricity with the use of
turbines. As the wind turns the turbine blades, it creates a mechanical
energy that, through the use of a generator is turned into electricity.

A horizontal axis turbine has blades that are very much like propellers on
the front of an airplane. This is the most commonly used type of wind
turbine used. A turbine that has blades from top to bottom is used lass
often, and is called a vertical axis turbine.

Energy bills set to rise to pay for £32bn investment

Gas and electricity bills will both have to rise by £3 a year, as £32bn is
needed to improve the UK's distribution infrastructure, the regulator has

Ofgem said energy firms needed to spend that sum over the next 10 years to
"keep the lights on" and meet the government's green energy targets.

The energy regulator added that the £3 increase in bills applied to average
UK homes each year over the next decade.

The £32bn investment target represents a 75% rise from the past 10 years.

Ofgem said the necessary £32bn investment in new electricity cables and gas
piping was part of a required total £200bn additional spending in the UK's
energy sector over the next decade.

Alistair Buchanan, Ofgem chief executive, told BBC Radio 4's Today
programme: "Our estimate at the moment is about a 6% increase on the current
average family's total [annual electricity and gas
] bill [over the next decade].

Scottish and Southern Energy passes 10 million customer mark

Scottish and Southern Energy has reported that its customer base has broken
the 10 million barrier for the first time ever.

The Perth-based utility said that customer numbers had jumped 375,000 over
the past year.

In a stock market announcement ahead of the pre-close period before its
results are announced in mid November, the company also said electricity
production at its new Glendoe hydroelectric plant at Loch Ness should resume
in the first half of 2012 now that construction of new tunnels at the plant
is fully underway.

SSE had to shut the plant down in August 2009 after rock falls partially
blocked the main tunnel carrying water from the reservoir to the power
station. The shutdown has badly affected SSE's total power output, but had
only a small impact on overall earnings.

The firm included the Glendoe update in an update of its five-year
construction plan - which centers on building new wind capacity in the U.K.

The utility also raised the prospect of a small postponement in the startup
of the 350-megawatt Clyde onshore wind farm as issues surrounding the impact
of the turbines on the local air transport radar system are resolved.

SSE said: "This process may delay the start of electricity generation at
Clyde but it is still expected to take place in the early part of the new
financial year. The first turbines have now been delivered to the site.
Installation work is due to start this autumn."

The UK Energy Market Report Oct10

Saturday, 2 October 2010

Hotels missing out on "free and instant opportunity" to cut costs

Hotels are missing a 'free and instant opportunity' to cut energy costs and
reduce their carbon reduction liabilities, according to an eco-tourism
certification body.

Technical director of Green Tourism Business Scheme Jon Proctor said that
staff awareness of the need to reduce energy usage could amount to 20 per
cent cost savings.

He said: "Straightforward management of lighting and heating and avoiding
the 'standby factor' with televisions and other equipment through an 'on
demand' rather than 'always on' approach is key."


Experts at the Green Business Tourist scheme claimed today that employee
'naivety' costs a typical 50-bedroom property thousands of pounds annually
through failure to adopt energy-friendly 'avoidance-based' practices.

It added energy saving practices would have the joint effect of cutting
hotel energy bills and reducing liabilities under the Carbon Reduction
Commitment (CRC) which requires businesses to cut their carbon footprint or
face government fines.


Friday, 1 October 2010

Gas Prices Down on Strong Norwegian, LNG Supply (UK) | LNG World News

Npower gas customers to get a £70m refund

Nearly two million homes overcharged for gas are to be refunded, in one of
the biggest pay-outs of its kind.

Energy company Npower has agreed to hand back £70m following a long-running
row over changes it made to the way it charged customers in 2007.

The firm admits it had not communicated the changes well, and £1.8m people
are to receive an average refund of £35.

Npower says it will write to all those affected over the next two months,
even if they are no longer customers.

In 2007, the company started charging households a fixed monthly number of
more expensive initial gas units - known as primary block units. Previously
the amount of primary units charged varied according to the time of year.

At the same time, Npower lowered prices and introduced some discounts. As a
result, some low-use customers were billed for more than the usual number of
primary units, leaving them out of pocket.

The company has always insisted most households benefited from the changes,
but following an investigation by the industry regulator Ofgem, Npower
initially agreed to repay 200,000 customers an average of £6 each.

In a statement, Npower said "Although the vast majority of our customers
benefited from the combined effect of the changes, some, who were low users
of gas, did not"

Watchdog Consumer Focus continued to campaign and some customers started
legal action.

Npower conducted a review of everyone who was a gas customer at the time and
it has now agreed to make a much bigger payment to 1.8 million people.

The refunds will range from £1 to £100, with an average refund of £35.

In a statement, Npower said "We're sorry that the complexity of the changes
we made caused confusion. We're now doing all we can to improve our
communication with customers."

Npower, which has 6.5 million customers in the UK, will be writing to those
affected and offering payments that can be cashed at the Post Office.

Head of Consumer Focus Mike O'Connor said it was an "excellent outcome" and
showed a "major commitment from Npower to its customers".

"Consumer Focus has worked closely with Npower to ensure that refunds are
made fairly and that no customer loses out," he said.

"A huge amount of work and collaboration has resulted in the right thing
being done by Npower for its customers and we welcome this.

"It has been an great example of how consumer organisations can work with
industry to deliver a fair deal for consumers."

Energylinx is delighted with the move as it shows just how much the market
has moved on since it was privatised as previously the voices of consumers
would have gone unheard.

Regardless of this positive gesture from npower, Energylinx would encourage
all customers to carry out a comparison as soon as possible. With winter
fast approaching the typical customer will see their day to day consumption
increase by as much as 400% in coming months so now is the time to get onto
the best tariff.

CRC scheme must continue to focus on carbon reduction and not on fining administration, energy experts warn

An independent energy broker says
the CRC scheme must continue to focus on its goal of national carbon
reduction and not on revenue generation for the Government.

Despite threats of fines, only 2,598 from the expected 5-6,000 large
organisations have registered for the CRC in time to meet today's deadline,
and many smaller companies have been unable to submit information and
complete the registration process on time. Leading energy procurement experts at Bergen Energi UK say the
lower-than-expected registration figures prove the administrative burden and
level of bureaucracy involved of complying with CRC regulations has been too
great and too slow a process.

Bergen Energi UK has urged the Government to be as lenient as possible on
those companies and work with them to help them register successfully as
quickly as possible - without levying potentially crippling penalties.

The Environment Agency is now due to administer fines of £5,000 to
businesses for non-registration and £500 per day for further non-compliance.

Richard Southgate Vice President, Bergen Energi UK said: "There had to be a
cut-off point, and the idea of using fines as a threat to make more
companies take part in the CRC was appropriate up to a point, but hitting
already-struggling companies with fines will have irreversible repercussions
for many firms especially in this economic climate.