Daily Archives: October 9, 2009

Fiona Harvey

On Energy Source:

UK’s Ofgem says £200bn in new investment needed (FT)

Reactions to Ofgem report come flooding in (FT)

Bangkok climate change talks produce little progress (FT)

Obama adminstration nudges Congress on cap-and-trade (FT)

Elsewhere:

Oil falls on hint of tightening monetary policy (Bloomberg)

Hydrogen fuel cells or electric cars? (Bloomberg)

15m EU buildings should be renovated to save energy (Reuters)

UK joins EU drive to generate energy from waste (Reuters)

Fiona Harvey

It was almost the last United Nations negotiating session before December’s crunch conference in Copenhagen, but the Bangkok session, which began on September 28 and ended on October 9, finished with a whimper rather than a breakthrough.

There was still no agreement on the key issues of how far developed countries will pledge to cut emissions in the medium term, and how they will provide financial help to poor countries, which need assistance both to cut emissions and cope with the effects of climate change.

There was some progress on some technical issues, such as how the global warming potential of new greenhouse gases would be calculated. And some of the 200 pages of negotiating text has been slimmed down.

But the pace of negotiations is still far too slow to ensure a new deal can be signed at Copenhagen in December, delegates said.

Yvo de Boer, executive secretary of the UN Framework Convention on Climate Change, and the official charged with bringing this year’s talks to a successful conclusion, looked on the bright side as he summed up: “A will has emerged in Bangkok to build the architecture to rapidly
implement climate action.”

But he urged the world to step up the pace of discussions when he added: “Significant differences remain. In December, citizens everywhere in the world will have a right to know exactly what their governments will do to prevent dangerous climate change. It is time now to step back from self
interest and let the common interest prevail.”

Carola Hoyos

Ofgem, the UK energy regulator, has calculated that £200bn will be needed to keep the country’s lights and heat on.

The following is a list of reactions to Ofgem’s report. Energy Source will update the list as reactions come in. Add your own via the comment box.

Fiona Harvey

Stopping the lights going out in the UK will take £200bn of new investment in the energy sector, the power regulator Ofgem has calculated.

This could lead to rises in energy bills of 60 per cent for consumers.

James Fontanella-Khan

BP says it may spend as much as $20bn in Iraq
UK oil group signed a preliminary contract with Iraq and China (Bloomberg)

Eon puts Kingsnorth plant on hold
German energy group says plant will probably not be operational until 2017 (FT)

Peak oil could hit soon, report says
Worldwide production could peak in the next decade (Guardian)

Climate talks end with dispute over abandoning Kyoto agreement
EU moving to kill Kyoto Protocol, says Saudi negotiator (Bloomberg)

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