When Germany announced its plan to phase out nuclear power stations last month, shares in the big four German power companies rose. The agreement made with the German government would see Eon, RWE, EnBW and Vattenfall pay a nuclear-fuel rods tax of €2.3bn until 2016 – but the market had been expecting worse.
Today Moody’s has warned that the impact of the tax might yet force a downgrade of the companies’ credit ratings however. Read more
With just a week to go until the US midterms, the narrative seems to have been set: the Republicans are going to do well because of anger at the Obama administration towards two things in particular: a lack of jobs and the healthcare bill.
But there may be another element at play which is feeding into this heady mix: the cap-and-trade bill. Read more
Yesterday’s confirmation that the government would protect £60m of spending on port infrastructure gave an important fillip to the UK offshore wind industry.
But today the industry had much more worrying news from Vestas, the market leader in this area, who have decided to slash 14 per cent from its overall workforce, at a cost of 3,000 jobs. Clare MacCarthey reports from Copenhagen: Read more
- Dudley hits out at Gulf spill fear-mongering – FT
- Oil companies seek Gulf of Mexico permits – Dow Jones
- BP to sell four Gulf of Mexico fields – FT
- Sanctions on Iran hit BP gas field off Scotland – The Times (£)
- Coal India pricing reflects keen demand – FT
- In India, a reality check – Michael Levi
- US approves world’s biggest solar power project – Reuters
- South Africa unveils plans for ‘world’s biggest’ solar power plant – The Guardian
- Go ahead for wind to generate 70,000 jobs – FT
- New US standards aim at truck emissions – NY Times
- Workers at three French refineries to return as shortages continue – Bloomberg
- Curse of oil follows Ghana’s president – FT Read more