David Blair's Blog, page 133

Warning over energy sector tax increase

Some of the UK's biggest gas producers have warned the government that a recent tax increase on the energy industry will accelerate the country's reliance on gas imports and lead to higher bills for households.

Tax rise pits oil industry against Treasury

In February 2007 George Osborne told an audience in Aberdeen that Gordon Brown was "squandering" the UK's North Sea oil and gas assets for short-term financial gain. Mr Osborne, then shadow chancellor, accused Mr Brown of "putting at risk the investment we need, to get the most out of the North Sea".

Huhne defends tax burden on oil and gas

The tax increase imposed on the UK's oil and gas industry will have no "significant" impact on investment and is justified by the need to repair the national finances, Chris Huhne, the energy secretary, has said.

Cuts cloud outlook for commercial solar power

Outside the Cornish town of Bodmin, Britain's nascent renewable energy industry had planned to fill a farmer's fields with enough solar panels to power 1,000 households.

Venezuela downplays oil tax hike

Venezuela has tried to reassure foreign investors after Hugo Chavez, the country's left-wing president, imposed a 95 per cent tax on oil revenues at prices above $100 per barrel.

Hands to double green energy sales

Guy Hands, chairman of the private equity group Terra Firma , aims to double the size of its renewable energy business within the next five years.

South America energises International Power

International Power , the electricity generator that recently merged with GDF Suez of France, reported a 9 per cent increase in pro forma revenue in the first quarter. The company's fastest growth came from Latin America and the Middle East.

Energy groups must give notice of price rises

Energy suppliers will have to give 30 days' notice of any price increases, a reform designed to improve competition by giving customers a greater chance to switch utilities.

Somerset Greens energised by fallout from Japan

The Green party is running twice as many district council candidates as Labour and the Liberal Democrats combined in West Somerset, where Britain's first new nuclear power station is expected to be built.

Exxon sees nuclear power holding its own

Nuclear power's share of the global energy mix will be unchanged in 30 years' time in spite of the disaster in Japan , according to the chief executive of ExxonMobil .