Download or read book The Restructuring of British Energy written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2006-03-17 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: British Energy was privatised in 1996. In 2002, the price of electricity fell and on 5 September 2002, the Company applied to the Department of Trade and Industry (the Department) for financial assistance. In November 2002, the Department agreed to provide financial assistance with the proviso that the Company's financial arrangements would be restructured. This report deals with the financial aid that the Department gave to British Energy and the terms of the restructuring of British Energy. The Department decided to intervene because, in its assessment, unplanned closures of British Energy's nuclear power stations would have had safety implications and put electricity supplies at risk. The Department took on responsibility for a large proportion of the company's liabilities, to be funded through a Nuclear Liabilities Fund, though there was no up-to-date estimate of those liabilities. (These estimates are to be updated every five years now.) In February 2006 British Energy estimated liabilities at £5,287 million. The restructuring mechanism is for a cash sweep, so that the company contributes more to the Fund when it is doing well. In the 12 months following completion of restructuring in January 2005, the wholesale electricity price rose sharply and the Company's share price more than doubled. The electricity market has, however, proved to be particularly volatile over recent years. The Nuclear Liabilities Fund is left particularly exposed to British Energy's financial and operational performance. Day-to-day responsibility for monitoring various aspects of the Company's performance currently lies with a number of teams within the Department. There remains a real risk that information learned by the different teams is not shared quickly and evaluated and that insufficient staff resources are committed to safeguarding the taxpayer's significant interest. To assist its management of the taxpayer's interest, the Department will need to prepare sufficiently comprehensive contingency plans to enable it to act quickly under the range of scenarios that might arise.

Download or read book The sale of the government s interest in British Energy written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2010-01-22 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: British Energy was the largest independent energy generator in the UK and owner of sites viewed by industry as the most suitable for new nuclear power stations. The Government sold its 36 per cent interest in the company to EDF Energy for £4.4 billion in January 2009. The final cash offer from EDF was 774 pence per share - 10 per cent higher than the valuation by the Shareholder Executive, the Government agency that managed the sale. Movement in energy prices after completion of the sale show that EDF put forward its offer when energy prices were at a peak. The Government's primary strategic objective for the sale was to ensure nuclear operators are able to build and operate new nuclear stations from the earliest date with no public subsidy. There was no binding commitment to build new nuclear power stations as a condition of the sale so it is too early to say whether the sale will enable the Government to achieve its strategic objective. But EDF's acquisition of British Energy has improved the prospect of investment in new nuclear power stations. While the Government no longer has a direct financial interest in British Energy, it remains responsible for funding any shortfall in the future cost of decommissioning British Energy's existing nuclear power stations. The Shareholder Executive did not carry out a formal assessment of the impact of the sale on the risks that taxpayers might have to bear if, for example, the new owner operated British Energy's power stations in a way that required earlier decommissioning.

Download or read book The sale of the Government s interest in British Energy written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2010-03-24 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report, the 22nd from the Public Accounts Committee (HCP 356, session 2009-10, ISBN 9780215545084), looks at the sale of the Government's interest in British Energy. In January 2009, the Government sold its 36 per cent interest in British Energy, as part of EDF's purchase of the Company. The sale had potentially important implications for future energy security as British Energy, though not financially strong enough to invest in new nuclear power stations itself, owned land viewed by industry as being in the most suitable places for them. The Department did not, however, secure a binding commitment from EDF to build new nuclear power stations. The report adds it also failed to establish whether EDF had previously built any new nuclear power stations without public subsidy. A number of factors, including planning decisions, could result in EDF abandoning its plans to build new nuclear powers stations, with or without public subsidy. The Shareholder Executive hired investment bankers UBS at a cost of £4 million, equivalent to a monthly payment of around £400,000, to advise on sale tactics, assist with negotiations and provide valuations of British Energy. The Committee considers it unacceptable that the Shareholder Executive considered it necessary to spend so much on external advice when it is supposed to possess expertise in these areas. The Government was fortunate in selling its interest in British Energy when energy prices were at a peak. The £4.4 billion sale proceeds were allocated to the Nuclear Liabilities Fund, to put towards the future cost of decommissioning British Energy's existing power stations.

Download or read book Meeting the energy challenge written by Great Britain: Department for Business, Enterprise & Regulatory Reform and published by The Stationery Office. This book was released on 2008-01-10 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: The May 2007 White Paper "Meeting the energy challenge: a white paper on energy" (Cm. 7124, ISBN 9780101712422) set out the Government's international and domestic strategy to address the two main challenges: tackling climate change by reducing carbon dioxide emissions; and ensuring clean and affordable energy as the country becomes increasingly dependent on imported fuel. An online consultation on nuclear power and the role of the private sector: www.direct.gov.uk/nuclearpower2007 was produced at the same time. This White Paper sets out the Government's decision taken in response to the consultation. The Government believes it is in the public interest that new nuclear power stations should have a role to play in the country's future energy mix alongside other low-carbon sources; that energy companies should have the option of investing in them; and that the Government should take active steps to open up the way to the construction of new nuclear power stations. It will be for the energy companies to fund, develop and build the new stations, including meeting the full costs of decommissioning and their full share of waste management costs. Section 1 summarises the consultation process. Section 2 addresses the key issues that arose from the consultation and how they have been taken into account in shaping policy and reaching conclusions. Section 3 outlines the facilitative actions the Government will take to reduce the regulatory and planning risks associated with investing in new nuclear power stations. Finally there are three annexes: alternatives to nuclear power; justification and strategic siting assessment processes; regulatory and advisory structure for nuclear power.

Download or read book Privatisation and Financial Collapse in the Nuclear Industry written by Simon Taylor and published by Routledge. This book was released on 2007-07-05 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume Simon Taylor has combined interviews with former executives, regulators and analysts with his own unique insight into the nuclear industry to provide an analysis of the origins of the crisis and the financial and corporate strategies used by British Energy plc.

Download or read book Keeping the Lights on written by Great Britain: Parliament: House of Commons: Environmental Audit Committee and published by The Stationery Office. This book was released on 2006-04-16 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: Keeping the lights On : Nuclear, renewables and climate change, sixth report of session 2005-06, Vol. 2: Oral and written Evidence

Download or read book Federal Register written by and published by . This book was released on 1999-04-14 with total page 1030 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Nuclear Power written by Janet Wood and published by IET. This book was released on 2007-01-31 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains in detail how nuclear power works, its costs, benefits as part of the electricity supply system and examines its record. This book covers the nuclear power debate.

Download or read book The Shareholder Executive and public sector businesses written by Great Britain: National Audit Office and published by The Stationery Office. This book was released on 2007-02-28 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite privatisation, central and local government still own or part own a number of companies with a combined turnover of over £25 billion. Reconciling public policy with shareholder value can be problematic and so the Shareholder Executive was established in 2003 to improve the Government's ability to act as an effective shareholder. This report examines the impact of the Executive and whether it is on course to meet its objectives. The overall finding is that, to date, it has generally acted as an effective and intelligent shareholder and has proved value for money. However there issues that need to be addressed to allow the Executive to build on its early work. A number of recommendations are made, including moving it out of DTI and giving it independent status.

Download or read book Energy and Climate Change written by David Coley and published by John Wiley & Sons. This book was released on 2011-09-20 with total page 682 pages. Available in PDF, EPUB and Kindle. Book excerpt: For more information on this title, including student exercises, please visit, http://www.people.ex.ac.uk/DAColey/ Energy and Climate Change: Creating a Sustainable Future provides an up-to-date introduction to the subject examining the relationship between energy and our global environment. The book covers the fundamentals of the subject, discussing what energy is, why it is important, as well as the detrimental effect on the environment following our use of energy. Energy is placed at the front of a discussion of geo-systems, living systems, technological development and the global environment, enabling the reader to develop a deeper understanding of magnitudes. Learning is re-enforced, and the relevance of the topic broadened, through the use of several conceptual veins running through the book. One of these is an attempt to demonstrate how systems are related to each other through energy and energy flows. Examples being wind-power, and bio-mass which are really solar power via another route; how the energy used to evaporate sea water must be related to the potential for hydropower; and where a volcano’s energy really comes from. With fermi-like problems and student exercises incorporated throughout every chapter, this text provides the perfect companion to the growing number of students taking an interest in the subject.

Download or read book Environmental Taxation Law written by John Snape and published by Routledge. This book was released on 2016-05-06 with total page 781 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theoretical arguments for environmental taxes and other types of economic instruments for environmental protection have been discussed extensively in the literature. Rather less well discussed has been the extremely complex form that such instruments have in fact taken in practice. Environmental Taxation Law: Policy, Contexts and Practice examines the legal implications of introducing environmental taxes and other economic instruments into the regulatory framework of UK law. In doing so, it analyzes and explains the difficulties of grafting environmental taxes onto the complexities of existing regulatory structures, not all of which, of course, were originally devised with environmental considerations in mind. Although the focus of the book is the UK's pioneering implementation of a web of distinct yet interrelated policy measures, it locates the UK's taxes and instruments not simply in their broader context of market and environmental regulation, but also in the contexts of European and international law.

Download or read book The Burning Question written by Catherine Mitchell and published by Institute for Public Policy Research. This book was released on 2004 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Nuclear Energy ebook Collection written by Gianni Petrangeli and published by Elsevier. This book was released on 2008-09-05 with total page 2252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nuclear Energy ebook Collection contains 6 of our best-selling titles, providing the ultimate reference for every nuclear energy engineer's library. Get access to over 3500 pages of reference material, at a fraction of the price of the hard-copy books. This CD contains the complete ebooks of the following 6 titles:Petrangeli, Nuclear Safety, 9780750667234 Murray, Nuclear Energy, 9780750671361 Bayliss, Nuclear Decommissioning, 9780750677448 Suppes, Sustainable Nuclear Power, 9780123706027 Lewis, Fundamentals of Nuclear Reactor Physics, 9780123706317 Kozima, The Science of the Cold Fusion Phenomenon, 9780080451107*Six fully searchable titles on one CD providing instant access to the ULTIMATE library of engineering materials for nuclear energy professionals *3500 pages of practical and theoretical nuclear energy information in one portable package. *Incredible value at a fraction of the cost of the print books

Download or read book Corporate Governance and the Nuclear Industry written by Barry Pemberton and published by Routledge. This book was released on 2015-09-16 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance and the Nuclear Industry explores the UK nuclear Legacy - governance issues associated with the decommissioning of a range of early-generation civil nuclear facilities. This book traces how we got here and the risks that have been taken, whilst presenting new research and thinking that is required to manage our nuclear Legacy. The book addresses a new analytical approach using notions of governance to review key historic events. This approach analyses these events using concepts of stakeholder control, accountability and regulation. Using these concepts and undertaking a more detailed analysis of the Legacy’s current governance arrangements; the conventional public sector-based solutions that attempt to harness private sector expertise, this book will contrast these with government responses to determine the degree of control over the Legacy and any possible control issues. Corporate Governance and the Nuclear Industry concludes that we need to recognise the legacy’s problems as exceptional rather than prosaic, and suggests that this requires exceptional governance solutions rather than the current form that is clearly failing.

Download or read book Plunkett s Energy Industry Almanac 2009 written by Jack W. Plunkett and published by Plunkett Research, Ltd.. This book was released on 2008-12 with total page 701 pages. Available in PDF, EPUB and Kindle. Book excerpt: The energy industry is boiling over with changes. This title offers a reference tool to the energy industry that covers various things from major oil companies to independents, utilities, pipelines, coal, LNG, oil field services, and refiners. It includes over a dozen statistical tables and profiles of The Energy 500 Firms.

Download or read book Digest of United Kingdom energy statistics 2010 written by Great Britain: Department of Energy and Climate Change and published by The Stationery Office. This book was released on 2010-07-29 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This issue of the Digest of United Kingdom Energy Statistics (DUKES) is part of a series and updates the figures given in the DUKES 2009. The publication consists of seven chapters; the first chapter deals with overall energy, with the other chapters covering specific fuels, combined heat and power and renewable sources of energy. The statistics presented in this digest will generate widespread interest from anyone working within or with an interest in energy sources, consumption and climate change. Chapters covering specific fuels and renewable sources of energy contain details on the production and consumption of individual fuels, presented using commodity balances. A commodity balance illustrates the flow of a fuel through from production to final consumption. These individual commodity balances are also combined in an energy balance, showing the interaction between different fuels. General energy statistics are presented in a table, revealing energy consumption by final users and an analysis of energy consumption by main industrial groups. Surveys conducted by AEA Energy & Environment on behalf of DECC estimate the contribution made by combined heat and power and renewable energy to energy production and consumption in the UK.

Download or read book Investing in EU Energy Security written by Henrik Bjørnebye and published by Kluwer Law International B.V.. This book was released on 2010-01-01 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: La 4e de couverture indique : "Since the introduction a quarter-century ago of market-based investments in the production of electricity and other critical services, our awareness of the underlying issues affecting the supply and consumption of energy has changed radically. No longer can Europe (or any region) rely on over-capacity of electricity generation and inexpensive primary energy fuels, or disregard the signs of potentially catastrophic climate change. The author of this timely and sharply focused book shows that, in the light of our current knowledge, ensuring new investments - and the right investments - in electricity generation constitutes an urgent energy policy challenge facing the EU over the coming decades. He accordingly makes the case for a serious reconsideration of the market facilitation and market intervention rules under electricity market legislation in the EU. In the first detailed legal analysis of the EU's internal electricity market framework for investments in electricity generation facilities from the perspective of security of supply, this book cover such legal issues as the following in precise detail : applicability of the Treaty on the Functioning of the European Union (TFEU) ; security of supply as a ground for exemption on the basis of public security ; justifications of public intervention ; the applicability of EU State aid provisions to investments in energy security ; requirements imposed by EU law on Member States for ensuring cost-efficient investments in European supply security ; facilitation of renewable energy sources and cogeneration in the environmental interest ; the Court of Justice's approach to Member State interventions ; the Court's decisions on restrictions on free movement in the environmental interest ; Member States' right to launch tendering procedures for new generation capacity ; Member States' right to impose public service obligations in the general economic interest on certain undertakings ; and relationship between the provisions of the TFEU and those of the Euratom Treaty in relation to investments in nuclear power generation. Throughout the study, in addition to his analysis of the decisions of the Court of Justice and the Court of First Instance, the author takes into account legal literature and Union reports, preparatory works, and working papers. The book demonstrates convincingly that today's energy supply challenges must be based on a broader balancing of security, competitiveness and sustainability interests. It suggests that the internal electricity market provisions of the Electricity Directive and the Security of Electricity Supply Directive would benefit from focusing more intensely on requiring investments in technologies and primary energy sources that will help mitigate climate change and reduce European energy import dependency, and less on the need for ensuring cost-efficient investments through market-based means. Through its detailed analysis of EU law in an area of great significance to both market participants and the public sector, Investing in EU Energy Security will be welcomed by legal advisors, whether working for the EU electricity industry or public agencies responsible for implementation of internal electricity market measures, as well as by academics in this hugely important field of current research."