| 19-03-10 |
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AFX UK Focus |
March 19 (Reuters) - Britain's opposition Conservative Party, which could return to office if it wins an election expected on May 6, launched energy policies on Friday.
In a document entitled "Rebuilding Security -- Conservative energy policy for an uncertain world", the party set out 12 proposals that would form the basis for a new bill on energy if it forms the next British government.
Here are details of some of the proposals.
INTRODUCE CARBON TAX ON POWER GENERATION
Levy would act as floor price for carbon
Generators would only pay levy if European Trading Scheme (ETS) carbon price fell below a level set by Treasury
Aim is to provide reliable carbon price over long-term to create incentive for investments in renewable energy sources
FACILITATE NUCLEAR POWER
Conservatives back investment in future nuclear plants
Would submit nuclear planning to a parliamentary vote to shield against future reviews and delays
Would work with industry to identify long-term repository for nuclear waste
PROMOTE RENEWABLE ENERGY
Propose offshore grid to reduce uncertainty over grid connections that affects investment in offshore wind
Would promote community ownership of onshore wind farms to "take poison out of planning battles"
CREATE "GREEN INVESTMENT BANK"
Bring together disparate sources of public investment in low-carbon economy to provide clarity to prospective investors
Green Bank would act as intermediary to attract and package investment opportunities in low-carbon projects
ESTABLISH CAPACITY GUARANTEE IN ELECTRICITY, GAS
Where capacity margins are too small, energy regulator would be given power to secure new capacity required
Could do this through direct requirement on suppliers, or through auctions to fill missing capacity
Governemnt would work with importers to secure new and reliable long-term supply contracts with Liquefied Natural Gas and pipeline producers in Europe and beyond
For a story, please click on
For reaction from energy firms, environmental groups and analysts, please click on
The full policy document can be downloaded from the Conservative Party website on http://www.conservatives.com/News/News_stories/2010/03/Conservatives_propose_radical_overhaul_of_Britains_energy_policy.aspx
(Reporting by Estelle Shirbon, editing by Anthony Barker) Keywords: BRITAIN ENERGY/CONSERVATIVES
(estelle.shirbon@thomsonreuters.com, +44 207 542 7947, Reuters Messaging: estelle.shirbon.reuters.com@reuters.net)
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| 19-03-10 |
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RNS |
RNS Number : 8361I
National Grid PLC
18 March 2010
18th March 2010
National Grid plc (National Grid)
Voting Rights and Capital update
National Grid has been notified that, earlier today, 14,404 shares held in Treasury were transferred to share scheme participants. Following this change, National Grid plc's registered capital from 18 March 2010 consists of 2,617,190,095 ordinary shares, of which 144,159,977 have been purchased in the market and registered as Treasury Shares; leaving a balance of 2,473,030,118 shares with voting rights.
The figure of 2,473,030,118 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, National Grid plc under the FSA's Disclosure and Transparency Rules.
Contact: D C Forward,
Assistant Secretary
0207 004 3226
This information is provided by RNS
The company news service from the London Stock Exchange
END
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| 18-03-10 |
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AFX UK Focus |
By Victoria Bryan
LONDON, March 18 (Reuters) - The opposition Conservative party's plans to limit the powers of Britain's planning body for major projects may derail construction of new nuclear plants and hold up key infrastructure investment, industry executives said.
The Conservatives had set out plans to scrap the Infrastructure Planning Commission (IPC), an unelected body set up by the ruling Labour party to approve large infrastructure projects.
They have since moderated the plans, saying they will change its name and make it more democratically accountable, with a government minister -- a secretary of state -- giving the final approval on major projects.
"What we don't want is an application being put forward and it sitting on the Secretary of State's desk for some months while his civil servants ponder the recommendations of whatever the IPC morphs into," Sarwjit Sambhi, MD of Power Generation at Centrica, told Reuters in an interview.
Centrica moved into nuclear last year when it bought a 20 percent stake in British Energy, owned by EDF of France. British Energy plans to build four European pressurised reactors in Britain.
"From an investor's perspective, when we look down the list of potential things that could derail or accelerate nuclear development, one is planning reform," Sambhi said.
National Grid, which is currently planning massive investment in transmission to connect up new sources of energy generation such as wind, tidal and nuclear to the grid, said the creation of the IPC had been a big step forward.
"Planning consent is key to meeting these challenges," Mike Calviou, director of asset management for UK Transmission at National Grid, said at a utilities conference in London.
"We need to get a lot of new generation connected to the grid," he said. "Given where we are we have a good shot but there's not much room for slippage."
Energy regulator Ofgem said last month Britain urgently needs to reform its power sector to ensure secure and sustainable energy supplies, warning that the closure of ageing power stations demanded swift energy market reforms to meet environmental targets and keep the lights on.
John Saunders, Chief Executive of the IPC, said the body, which is barely 100 days old, was just trying to get on with its job despite the political uncertainty.
"We will not comment on politics," he said, although he added that it was difficult to hire people at present.
Britain has to hold an election by June at the latest, with the Conservatives now leading in opinion polls.
Whatever the outcome, Centrica's Sambhi said any decisions would have to be put in place quickly.
"If we want a new nuclear reactor up and running by 2018, we're going to have to make the investment decision on that new reactor sometime next year. We don't have years to ponder this, only months."
(Editing by Rosalba O'Brien and Anthony Barker) ($1=.7350 Euro) ($1=.6672 Pound) Keywords: BRITAIN PLANNING/
(victoria.bryan@thomsonreuters.com; +44 207 542 9688; Reuters Messaging: victoria.bryan.thomsonreuters@reuters.net)
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Copyright Thomson Reuters 2010. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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| 17-03-10 |
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RNS |
RNS Number : 6979I
National Grid PLC
16 March 2010
16th March 2010
National Grid plc (National Grid)
Voting Rights and Capital update
National Grid has also been notified that, earlier today, 37,153 shares held in Treasury were transferred to share scheme participants. Following this change, National Grid plc's registered capital from 16 March 2010 consists of 2,617,190,095 ordinary shares, of which 144,174,381 have been purchased in the market and registered as Treasury Shares; leaving a balance of 2,473,015,714 shares with voting rights.
The figure of 2,473,015,714 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, National Grid plc under the FSA's Disclosure and Transparency Rules.
Contact: D C Forward,
Assistant Secretary
0207 004 3226
This information is provided by RNS
The company news service from the London Stock Exchange
END
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