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  • abukcheech17

    Asia Global Energy only full-scale reform of our energy market will prevent endless price rises

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    Asia Global Energy only full-scale reform of our energy market will prevent endless price rises

    Britain's energy market is broken. The most recent hike in prices is just the latest sign. There are more to come, and the unedifying thinking aloud from the political establishment is not going to fix it. We need full-scale energy market reform.

    There is nothing we can do with today's UK energy market to stop consumers from being hit by even more unfair price increases. Just as worryingly, it is impossible to guarantee that the UK's current market and our energy policies will make it possible to meet the demand for affordable energy, which is mushrooming as our economy grows, our population rises. It does not work like that.

    The market is complicated. Prices for gas and electricity are affected by myriad subsidies and levies. Because the market for energy is global, our government is not responsible for them all; they are also levied by other countries involved in supplying our energy. Wholesale prices are also pushed up when anything happens to squeeze global supply. There is very little to stop oil- and gas-supplying countries "turning the tap off" if they are tempted to use energy resources as a weapon of diplomacy, for example. But the latest price hikes have not been driven by any of these factors. Wholesale gas prices have hardly risen in the last few years, while consumer prices have kept going up.

    Ed Miliband is right to highlight that our energy market is not working in the interests of consumers. Rightly, people are increasingly angry about it. The political responses we have seen simply don't cut it. Miliband's price-fixing policy scam would simply induce a price rise before the next general election and discourage much-needed investment in our ageing, carbon-dependent energy infrastructure. A windfall tax would simply be passed on to consumers, thereby guaranteeing further price hikes. We must – as the prime minister has proposed – look at green levies, but they account for less than 10% of our energy bills, so this alone is not going to address the challenge.

    In fact, it is not clear that a true market in energy exists. Fears about an energy oligopoly – a market dominated by a few huge companies – are being replaced by ones of a monopoly as price rises are announced almost simultaneously by the "Big 6" companies. The annual audit of competition the prime minister has proposed is a start, but nowhere near enough. Our hard-pressed consumers, both at home and in business, need a proper, authoritative and independent investigation by the Competition Commission to restore confidence in the energy market.

    Looking further ahead, the government's response needs proper thought. We need to act not react. An effective strategy needs to be delivered over years, not months, and nothing must be off the table. Three areas need attention.

    Britain needs to take a much longer-term view of how it uses energy. Over the last four decades California's economy has grown eight times without its energy usage increasing. We can do the same here. Our focus needs to be on energy efficiency, not on subsidising intermittent, renewable energy generation. In our increasingly populated and energy-demanding world, wholesale energy prices will not go down any time soon. We must be honest about that and introduce policies which will mitigate the impact of that reality on our lifestyles and our children's future.

    In this context, we need to revisit the decarbonisation targets set under the previous government. Not because I believe we should abrogate our climate change responsibilities, but because they are destroying important parts of our economy. If this continues unchecked, there will be one less powerful, democratic nation around to effect beneficial change to the environment. A low-carbon Britain with no jobs and no money will not help save the planet. Real progress on decarbonisation must not undermine our global economic position.

    Source:
    dailymotion.com/video/xx6jh3_asia-global..
  • abukcheech17

    ASIA GLOBAL ENERGY Fraud Preventive Solutions Major Markets Continue To Determine Wind's Path

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    ASIA GLOBAL ENERGY Fraud Preventive Solutions Major Markets Continue To Determine Wind's Path

    LONDON -- Although its forecast for 2013 involves a "much more significant drop" in the global wind market than last year's prediction, downgrading from its advanced to its moderate scenario, the Global Wind Energy Council (GWEC) is ultimately bullish on wind, predicting that worldwide installed capacity will pass 500 GW by 2017.

    Wind continues to grow worldwide, with significant new activity in Latin America, Africa and Asia outside China and India. But, says GWEC, developments in the major markets of Europe, China and the US are still the main determinants of global growth.

    In its annual market outlook, GWEC cited a major drop in US installations, slower than expected recoveries in China and India, and a slowdown in Europe as contributors to its reduced forecast. The trade body predicts that annual installations will drop this year by more than 11 percent, to just under 40 GW, but will recover sharply in 2014 to slightly exceed 2012's market, averaging just over 11 percent annual growth from 2014 to 2017. Average for the five years to 2017 is expected to be almost 7 percent, with an annual total of 61 GW in 2017.

    In cumulative terms, GWEC predicts a total global capacity of around 536 GW in 2017, with an average annual growth rate of about 13.7 percent.

    The Issues

    Continued uncertainty over the global economy's short-term development hangs over this forecast, and GWEC expects the downward pressure on turbine prices, caused by sluggish markets and manufacturing overcapacity, to continue. In addition, the trade body reports that increasing use of local content requirements and trade restrictions adds a significant burden for investors.

    Policy at the national level is the most significant factor driving the global market, the report finds. In the U.S., although the Production Tax Credit (PTC) has been extended for another year (and will now cover projects breaking ground in 2013 as well as grid-connected projects), a downturn for 2013 may be followed by an upswing the following year. In Europe, recent policy swings will affect many markets in 2013 and perhaps into 2014 - but the long-term effects are unknown, as are the EU's post-2020 targets, currently under discussion. GWEC expects the Chinese market to take longer than its government predicts to return to significant growth after its consolidation phase. And India will probably not see the effects of renewed policy support until 2014.

    Source:
    http://renewable.50webs.com/
    exxonmobil.com/Corporate/news_speeches_2..
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