U.K.’s $582 Billion Energy Switch Faces Crisis, Liberum Says

By Sally Bakewell April 30, 2013

The U.K.’s 376 billion-pound ($582 billion) program to switch from fossil fuel to renewable and nuclear power is headed for crisis because of looming energy shortages and spiraling costs, Liberum Capital Ltd. said.

The U.K. government has “grossly underestimated” the engineering, financial and economic challenges posed by Britain’s goal to decarbonize its electricity, Peter Atherton, utilities analyst at Liberum, said today in a note. Investors will face the bulk of the financial pain as the government seeks to shield itself and voting consumers from a crisis, he said. …To Read More….