Energy Risks - Uncertain, But Not Unimaginable - Investment Failure Fails Customers
With the debate about the security of UK energy supplies escalating, and the financial implications of energy trading indecision becoming ever larger, Global Energy Advisory have been invited to circulate a white paper to the new Energy & Climate Change Committee in advance of oral submissions from the Minister, Rt Hon Edward Miliband MP on February 25th. The paper is now available for general release via the GEA website.
London, United Kingdom, February 27, 2009 --(PR.com)-- This morning the Secretary of State for Energy and Climate Change, Rt Hon Edward Miliband MP, gave oral evidence to the new Energy & Climate Change Committee in the House of Commons for the first time. The Committee was pleased to receive a white paper briefing on the relevant commercial and market issues in advance of this meeting from which questions were asked of the Minister. Please feel free to download the independent Global Energy Advisory White Paper entitled: Investment Failure, Fails Customers, which is now available freely.
The paper has been well received by the industry and discusses the potential risks to UK energy security; it also asks pertinent questions regarding the costs and consequences of the energy investment/trading decisions being taken by companies at the current time.
The report is valuable in raising this awareness at a time when investment costs of the order of £200bn by 2025 are being considered, and a large wholesale trading loss was also reported. The focus of the report is to highlight that it’s the consumer, large and small, who have the costs of either investment failure or bad trading decisions passed on to them. Who trades and who pays? Who invests and who pays?
"Global Energy Advisory have shown initiative in preparing this valuable and topical paper. Under the current economic circumstances, industry cannot be expected to cope with the additional burden of failed energy investment and trading decisions, which now certainly look possible. Memories are still fresh of winter 2005-06 when UK gas prices rose to unprecedented levels, causing savage cut backs in production of chlorine, glass, cement, paper and ceramics. It was subsequently reported that 100,000 jobs had been lost in manufacturing industry over the previous 12 months, with energy prices cited as a key factor. We need timely investment in secure energy supplies to ensure this does not happen again."
Jeremy Nicholson - Director: Energy Intensive Users Group
Interested parties to the debate are invited to download the document now to be appraised of issues being addressed by the Committee.
###
The paper has been well received by the industry and discusses the potential risks to UK energy security; it also asks pertinent questions regarding the costs and consequences of the energy investment/trading decisions being taken by companies at the current time.
The report is valuable in raising this awareness at a time when investment costs of the order of £200bn by 2025 are being considered, and a large wholesale trading loss was also reported. The focus of the report is to highlight that it’s the consumer, large and small, who have the costs of either investment failure or bad trading decisions passed on to them. Who trades and who pays? Who invests and who pays?
"Global Energy Advisory have shown initiative in preparing this valuable and topical paper. Under the current economic circumstances, industry cannot be expected to cope with the additional burden of failed energy investment and trading decisions, which now certainly look possible. Memories are still fresh of winter 2005-06 when UK gas prices rose to unprecedented levels, causing savage cut backs in production of chlorine, glass, cement, paper and ceramics. It was subsequently reported that 100,000 jobs had been lost in manufacturing industry over the previous 12 months, with energy prices cited as a key factor. We need timely investment in secure energy supplies to ensure this does not happen again."
Jeremy Nicholson - Director: Energy Intensive Users Group
Interested parties to the debate are invited to download the document now to be appraised of issues being addressed by the Committee.
###
Contact
Global Energy Advisory Limited
Aily Armour-Biggs
+44 (0) 207 692 0888
www.globalenergyadvisory.com
Aily Armour-Biggs
+44 (0) 207 692 0888
www.globalenergyadvisory.com
Contact
Categories