Empire State Building goes green
There may not be a big push in Congress for green energy, but the industry still has some keen supporters out there. The Empire State Buiding has become New York City’s biggest commercial buyer of 100 per cent renewable energy. No small feat.
The supervisor of the 2.85m square-foot office building announced on Thursday it is buying 100 per cent wind power from Green Mountain Energy Company. Green Mountain is a leading retail provider of cleaner energy and carbon offset solutions.
National Grid fined £8m – but it could have been worse
The £8m fine imposed on National Grid on Thursday means the UK utility has achieved a dubious distinction.
In 2008, it was the subject of the largest penalty ever exacted by Ofgem, the UK regulator (£41.6m for anti-competitive metering – later reduced to £15m by the Court of Appeal). Today, National Grid added the number two spot, receiving the second-biggest fine in Ofgem’s history.
Why the oil spill report is good news for BP’s shares
The report into the Gulf oil spill, a chapter of which was released last night, made for pretty grim reading for BP and the other companies involved.
It said:
Most of the mistakes and oversights at Macondo can be traced back to a single overarching failure – a failure of management. Better management by BP, Halliburton, and Transocean would almost certainly have prevented the blow-out.
Energy headlines: Spill report criticises ‘complacent’ oil industry
- US apportions blame for BP spill – FT
- ‘Complacent’ oil industry rebuked – FT
- Errors multiplied before spill, panel says – NY Times Green blog
- Business big shot: Andy Inglis – The Times (£)
- Spill fears fail to curb UK deepwater drilling – FT
- North sea oil report: key points – The Telegraph
- Kuwait and Iran stand firm on oil output – FT
- Iraq plans exploration licensing round – Argus
- China wind turbines turn as Europe cuts hit – FT
- Greens fight greens over solar power – Reuters
- Ratcliffe coal protesters spared jail – The Guardian
- Chile approves $859m to strengthen grid – WSJ (£)
- Former Dynegy chief launches energy marketing firm – Argus
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Insight into the financial, economic and policy aspects of energy and the environment.
