What waste of energy
Article Abstract:
The outlook for the British coal industry is bleak even though coal is the country's cheapest and most abundant energy resource. The UK is estimated to have around 2,500 million tons of coal and generates electricity from coal at lower rates than from gas. The typical coal-fired plant can produce electricity at 1.8 pence per kilowatt hour (kwh), while gas production costs around 2.3p/kwh to 2.8p/kwh. However, while its lower cost and large supply should make coal the preferred energy resource, the reality is that the more expensive and less abundant gas has been increasing in use. The share of gas in the UK's energy generation is expected to increase from 25% in 1996 to 50% in 2001, displacing the equivalent of 61 million tons of coal. The coal industry's competitiveness has been weakened by successive governments which have interfered too much in the energy market and introduced hidden subsidies and restrictive laws and allows questionable industry alliances.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1997
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Power and the people
Article Abstract:
The government of John Major is determined to continue the privatization of the British nuclear power industry that was started by the previous prime minister Margaret Thatcher. The industry was born and flourished under Thatcher who believed that nuclear power was the ideal solution to global warming and fossil-fuel emissions. However, she failed to sell the idea to the private sector and the two firms, Nuclear Electric and Scottish Nuclear, remained firmly grounded in the public sector. The financial community made it clear to the government that privatization was out of the question because of investors will not have anything to do with the immense costs of generating nuclear power and of decommissioning plants, and the massive potential costs of a nuclear accident. Still, Major's cabinet is intent on selling the nuclear companies, although it is aware of their lack of viability and is therefore selling them as going concerns.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1996
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Turn on the power
Article Abstract:
The UK plans to adopt a more environment-friendly energy policy. It will place stronger emphasis on energy conservation, cleaner technology and greater use of non-polluting energy resources. Deputy prime minister John Prescott disclosed at the Kyoto Earth Summit that the UK will reduce greenhouse gas emissions by 10% in 2010 and by 20% by 2025. While the government's green energy policy may seem too ambitious, it has succeeded in pushing discussions about renewable energy sources such as windmills, anaerobic digestors and short-rotation coppicing from beyond the community of extremist environmentalists into the arena of politicians and industry leaders. According to energy specialist Anna Stanford of the Friends of the Earth, the government's greenhouse emission targets can be achieved with the proper incentives.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1998
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