From the Climate Policy Network

Britain’s New Power Game

UK Government To Dodge Climate Change Targets

My Take – After all the finger wagging; all the smug arrogance; all the self-righteous pontifications from the green fellow travelers in Europe I think it is time for some chortling.  But only for those who have been saying that we aren’t running out of energy sources, we aren’t going to burn up the planet through CO2 emissions and all of this was nothing but a ideological claptrap from the greenies. It is a wonder….now that reality has struck they are all saying what the sane people have been saying all along.  Oops…..wrong nomenclature.  What the “deniers” have been saying all along.  This must be a nightmare for the greenies.  Good!

The Times can reveal that the Government wants to sidestep climate change targets in an effort to stem soaring electricity prices. In an exclusive interview, Ed Davey, the Energy Secretary, said that he wanted to introduce a loophole which would allow new fossil fuel plants to be built. Mr Davey argues that consumers could be spared the cost of subsidising new wind farms and nuclear reactors by building new gas plants, which would be offset by other parts of the economy, such as transport, going green more cheaply. But the idea will anger environmental groups, who warn that it will undermine green targets and deter investment in low carbon energy generation. --Tim Webb, The Times, 12 October 2012

Environmental groups thought they had won a key victory with the Government considering plans to introduce new emissions targets, forcing electricity producers to reduce drastically their carbon footprint. But now energy companies could be allowed to sidestep these restrictions because Treasury ministers are anxious about the high cost of building wind farms and nuclear reactors, and want to construct dozens of gas-fired power stations. --Tim Webb, The Times, 12 October 2012

The Department for Energy and Climate Change last night insisted it was still committed to meeting climate change targets despite reports the government was plotting to build new gas stations. The Times said this morning that the government would introduce a legal loophole to allow new fossil fuel plants to be built. Last night DECC tweeted that the story was “inaccurate”, saying there was “no change” in its targets policy. – City A.M., 12 October 2012

British Gas revealed costs to deliver the government’s policies for a clean, energy efficient Britain were behind its decision to raise gas and electricity prices in the UK. Parent company Centrica today confirmed the 6% price hike, which will see around £80 a year added to the average domestic energy bill. --Proactive Investors, 12 October 2012

Even though the scale of any US and Canadian LNG imports to Europe is not vast, Chevron has already placed a major investment ‘bet’ on reaping the benefit as Europe’s antipathy crumbles. With the price so high, capitals in the east of Europe, especially in Warsaw, intent on breaking Moscow’s energy stranglehold see domestic shale gas development as the key. The Ukraine alone holds around 7 percent of Europe’s total shale gas reserves. But cracks in Russia’s energy hegemony are also appearing further west. Development of the UK’s own potentially world class shale gas reserves looks increasingly likely. --Peter Glover, Energy Tribune, 10 October 2012