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National Grid raise £3.2bn to help upgrade the UK grid

Posted on Friday, May 21, 2010

National Grid has successfully launched a rights issue yesterday. The motive is to raise £3.2bn to help upgrade the Britain's ageing network to accommodate new renewable energy projects over the coming decades. Rights issue was launched by Grid operator to raise billions for new green infrastructure projects. The group, which runs Britain's electricity & gas networks, declared that they would ask investors to contribute £3.2bn in a rights issue next month. In...
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Serious liabilities await for taxpayers after British Energy sale

Posted on Friday, March 26, 2010

The sale deal of UK government's stake in British Energy to French Utility EDF has landed into soup. Reason: Taxpayers are complaining that their interests were overlooked by government during the process. The alleged failure on behalf of government is being taken as the dream of construction of UK's ten new nuclear stations will never become a reality. The report made public by Public Accounts committee stated that UK government failed to secure a guarantee from EDF relating...
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Energy planning lacks clarity according to MPs

Posted on Wednesday, March 24, 2010

According to Energy & Climate Change Select committee, guidelines framed by government to accelerate the pace of planning permission for chief energy projects is falling flat on detailing front, prompting MPs to take up this matter seriously & debate on it in Parliament.Delving in matter further, critics are of opinion that Infrastructure Planning Commission wing of government is overlooking the local objections. The Commission is cutting through situations & is likely...
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Tories pledging security for gas & electricity supply

Posted on Monday, March 22, 2010

In their bid to construct additional facilities & interfere in the issues regarding supply contracts & storage facilities to defend the gas supplies in the winter, Tories have plans to incentivise firms. According to David Cameron, the name which drives Tories, present-day energy policy is out-of-date & Labour has failed miserably to overhaul the entire infrastructure. In reply, Labour was of opinion that policy approach was quite simple. However, they were not able to...
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Petrol prices ready to touch skies!

Posted on Friday, March 19, 2010

If AA is to be believed, in a matter of few weeks, petrol prices (minus increased fuel duty & VAT in the mix) can cost people as high as £1.20 per litre. The organisation further added that, prices that stayed stationary at £1.12 per litre for a period of close to two months in late January & February, can rise towards end of March & April-start. The surge in petrol prices was credited to the jump in wholesale costs which had recently, touched the mark...
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Mobile users ignorance costing them a staggering £1.5 bn savings

Posted on Friday, March 19, 2010

In a startling discovery, approximately 40 percent of the total (around 46 million) mobile phone users existing in the UK, are incurring a loss of £1.5 billion in the form of savings because they have stayed loyal to their service providers & have not ditched them for getting a better deal, instead. According to a research, some 11 million people have saved a collective amount of £895 million which has come out to be an average of £81 per head....
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