The Canadian government has sold the CANDU reactor unit of Atomic Energy of Canada Limited (AECL) for C$15 million ($15.4 million) to compatriot engineering firm SNC-Lavalin. The bargain basement price is down to heavy debts incurred by the unit, which has been renamed Candu Energy, although state-owned AECL will retain billions of dollars of past … Continue reading
Britain’s National Audit Office has serious cost-benefit concerns over smart meters The British government’s National Audit Office (NAO) today published a less than glowing report into the Department of Energy and Climate Change’s (DECC) smart meters roll-out. The NAO, an independent Parliamentary body which scrutinizes public spending, highlights a number of concerns about the cost-effectiveness of DECC’s … Continue reading
Interesting news in the US where the New York Times lit the blue touchpaper by publishing two articles – here and here – labelling the shale gas revolution a ‘Ponzi scheme’ where investors have caused an unsustainable bubble and alleges that the industry is illegally overestimating shale gas deposits. Low gas prices mean that drillers are … Continue reading
E.ON CEO Johannes Teyssen says the power industry must face up to the fact that the future is renewables, upgraded ‘smart’ grids and energy storage, and E.ON wants to be in the vanguard. Speaking to the Financial Times, Teyssen suggests that the nuclear phase-out has prompted deep thought at the giant German utility, that perhaps … Continue reading
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