Customers could see energy prices rise by up to £265 per year as several dual fuel tariffs end this summer, according to Gocompare. Consumers on nine of the 16 dual fuel tariffs ending on 30 June will see their energy bills rise as they are automatically rolled onto their supplier’s standard variable tariff. Npower customers in the Midlands on the Fixed Energy June 2016 tariff will see the largest average rise of £264.61 (31.75 per cent). British Gas, EDF Energy, Npower, Ovo Energy, Sainsbury’s Energy and Scottish Power all have tariffs ending. Gocompare.com energy spokesperson Ben Wilson said: “As summer sets in it can be easy to forget about your energy bills. However, it’s important to keep on top of when your fixed deal ends or risk being put on a standard tariff.” The price comparison websites figures also showed that average customers on Ovo Energy’s Better Energy tariff will save £66.77, the largest saving on the tariffs ending.   These figures follow an announcement from the price comparison company last month that average energy prices were likely to rise by £132 as fixed dual fuel tariffs expired on 31 May. Again, Npower customers who were rolled onto its standard variable tariff saw the highest increase of £193.26.     Source link

Residential sales increased by 2% month on month in Hong Kong in May, but transactions are down 11% year on year, the latest Land Registry figures show. But with developers offering deeper discounts and more incentives, a number of primary projects received a positive market response, according to the latest market analysis from international real estate firm Knight Frank. It points out that prices have dropped for seven consecutive months by a cumulative 11%, according to provisional figures from the Rating and Valuation Department. Mass residential prices led the decline, losing 11% in the period, while luxury residential prices dipped 8%. The report suggests that clouded by a potential US interest rate rise in June and abundant upcoming supply, residential land prices continued to edge down. A domestic site in Pak Shek Kok, Tai Po was sold last month for an accommodation value of HK$3,620 per square foot, down about 20% from eight months ago when the adjacent site was sold. However, the super luxury sector remained strong, indicated by a Shenzhen buyer’s acquisition of a 9,212 square foot luxury house at Gough Hill Road on The Peak for a reported HK$2.1 billion approximately, a record price for the city. Knight Frank expects more mainland buyers to return to the market in the future and points out that a number of primary projects are scheduled for release in June, hoping to reach the market before a possible US interest rate rise. ‘While the government restated in May the continued implementation of cooling measures, we do not consider the sales rebound in the past two months an indication of a general market recovery,’ the report says. ‘We maintain our forecast of a 5% to 10% drop in the luxury segment and up to a 10% drop in mass residential prices,’ it adds.   Source link

Savills has been selected as a finalist in the Best Professional Services category of the Scottish Green Energy Awards 2016. Scottish Renewables received over 130 nominations for the Award scheme which aims to recognise the people, organisations and communities that have helped the renewable energy industry evolve.   The overall winner will be announced at the Scottish Green Energy Awards 2016 held at the Edinburgh International Conference Centre on Thursday 1st December and will be attended by 1,000 representatives of Scotland’s renewables industry.   Nick Green, Head of Energy for Savills in Scotland said:  “The industry has not been without challenges in recent times yet in this uncertain climate Savills energy team has grown and we continue to deliver opportunities for clients.  Over the last two years the team has promoted schemes with a generating capacity in excess of 150MW and secured planning permission for over 500MW of renewable energy approvals.  We have secured more than £3m in grant aid and continue to manage the procurement of over £50m of electricity and gas.  “We are proud to be shortlisted for this award at a time when the industry is being compromised by government policy and subsidies are being cut.  Our recent portfolio of work demonstrates that there is a vibrant future for the sector with many opportunities yet to be realised.” Among the projects recognised by Scottish Renewables is a partnership between Savills and the NFUS, led by Thomas McMillan, Director in Savills Perth office.  This was a three year initiative across 27 farms, providing 1,000 landowners, farmers and community groups with independent advice and opportunities to diversify into renewables.  The team has project managed the creation of the largest Solar Farm in Scotland in partnership with Elgin Energy and Canadian Solar, whereby 55,000 solar panels have been constructed on 72 acres of land. In addition it has facilitated grid connections for 280MW of new onshore wind capacity across 14 sites, working with a network of developers and Scottish Power Distribution. Niall Stuart, Chief Executive of Scottish Renewables said: “Once again the Scottish Green Energy Awards shortlist shines a light on the most innovative, forward-thinking and sustainable projects, organisations and individuals in our industry. “There have been some important projects delivered over the last 12 months and the shortlist shows clearly how our sector is helping grow the economy, tackle climate change and support communities across the country.” Source link

Marshalls, the paving blocks and slabs company, has revealed that it is in takeover talks with several target companies. Above: Marshalls’ paving and street furniture The company also disclosed that despite a strong rise in profits last year it is planning to put up its prices. Marshalls made a pre-tax profit of £35.3m in 2015, up 57% (2014: £22.4m). Revenue was up 8% to £386.2m (2014: £358.5m) thanks to strong demand. The board said that the first phase of its ‘2020 Strategy’ to return to pre-recession profitability had now been achieved, with its 9.7% operating margin. The next stage involves new product development, price increases to cover cost increases, additional capital investment of £15m to secure cost savings of £5m per year, and acquisitions. “The group continues to pursue acquisition opportunities in the focus areas of water management, street furniture and mineral products,” revealed chief executive Martyn Coffey. “A short list has been developed and there are ongoing discussions.  We have discounted certain targets due to unrealistic price expectation and lack of fit.  There remains a positive pipeline of good opportunities.” On new products, Mr Coffey said: “There has been good success in the last few years with our new product development. The group will continue to focus on innovation and new product development to drive sales growth. Commercial demand for water management, street furniture, rail and new build housing is increasing and all these businesses have developed new products that have been recently introduced in their markets. The group’s new range of water management products and sustainable drainage systems demonstrate innovative thinking and could have an important part to play in reducing the risk of flooding. The new Drexus linear drainage system is being launched for 2016 along with a new and innovative range of paving products that incorporate new surface technology.”     This article was published on 11 Mar 2016 (last updated on 11 Mar 2016). Source link

Scottish Water has announced a partnership which will help it expand and accelerate the deployment of sewage heat recovery systems across Scotland. The company’s renewables-focused subsidiary – Scottish Water Horizons – has joined forces with SHARC Energy Systems to reduce heating costs and cut carbon emissions. The two firms have been informally collaborating for two years to draw up a £20 million pipeline of potential installations across Scotland. When deployed, these would generate 170GWh per year of heating and cooling to displace the fossil fuel currently used. The new alliance will support the Scottish government’s ambitious renewable heat and carbon reduction targets for 2020. Scottish Water Horizons has estimated that up to 750 such systems would need to be installed by 2020 to enable Scotland to achieve its carbon savings targets. The SHARC system was developed by Vancouver-based International Wastewater Systems, the publicly traded parent company of SHARC Energy Systems, and has been deployed in numerous international locations. The technology works by heating the wastewater from sewers with heat pump technology to amplify the natural warmth of wastewater. This then generates an energy-saving, cost-effective and environmentally-friendly system for heating, cooling and hot water production in commercial and residential buildings. Scottish Water Horizons head Andrew Macdonald said: “The potential to deploy this technology is significant. Heat accounts for more than half of Scotland’s total energy use and we believe that by harnessing the natural resources of our vast wastewater network, we can further the development of Scotland’s low carbon economy, whilst protecting and enhancing the environment. “Scottish Water treats over 900 million litres of wastewater every year and we are determined to maximise the opportunities presented. “Our alliance with SHARC Energy is an exciting opportunity which will help to accelerate the deployment of this proven technology on a wider scale, providing customers with an innovative and sustainable lower cost heating solution.” Source link

The International Energy Agency has warned on the scale of the challenge facing Opec as it tries to raise oil prices, after the cartel’s production hit a record high in September and with demand growth continuing to slow. After last month’s agreement by Opec to curb output, oil prices rose above $53 a barrel to their highest in a year. However, the rally, which has reached 15 per cent since the meeting in Algiers, is vulnerable in a market that is awash with crude. “Opec has effectively abandoned its free market policy set in train nearly two years ago,” the IEA said in its monthly report yesterday. “Global oil inventories are far too high — in the view of some producers — and they aren’t being worked off nearly fast enough.” Crude supply from the 14 members of the producers’ group had climbed to 33.6m barrels a day in September, the highest to date, and would hover around that level in the run-up to the next ministerial meeting in November, the world’s leading energy body said. New hints and tips Valuable reports on specific countries, industries and business topics More tips Opec hopes to have a binding deal in place by that time, but many critical details, such as allocations for cuts by individual countries, have yet to be finalised. The cartel has been under increasing pressure to rein in output in recent months, as forecasts of when the balance between supply and demand will come close to being restored have been pushed further out. Output from producers outside the cartel has proved more resilient to a two-year price crash than many expected, while many Opec members have kept raising output to compete with each other for a bigger share of the market. “At this stage, it is difficult to assess how the Opec supply cut, if enforced, will affect market balances,” the IEA said. A significant rebound in supply from Libya and Nigeria and further growth from Iran would suggest that bigger cuts would have to be made by others, such as Saudi Arabia, to meet the new output target. The kingdom’s decision to back output cuts comes almost two years after it led the cartel in a battle against rival producers such as US shale by refusing to cut output to bolster prices. But Saudi Arabia’s economy, like others reliant on oil export revenue, has been battered by the price slide. The IEA said the extent of any co-operation from non-Opec producers such as Russia was yet to be determined, though the two-year price crash is forging new alliances. Oil rose more than 3.5 per cent on Monday after Russian president Vladimir Putin said he backed efforts to curb production. Brent crude, the global benchmark, traded lower on Tuesday afternoon, down 74 cents to $52.40 a barrel. “We think that freezing or even cutting crude production is probably the only right decision to preserve the stability of the global energy [sector],” Mr Putin said, suggesting Russia would join in any supply pact. But doubts have swirled about Russian participation. The head of state-owned oil company Rosneft, which accounts for 40 per cent of domestic oil output, said earlier on Tuesday he will not agree to a freeze or cut in oil production. “Why should we do it?” Igor Sechin, who is renowned for his anti-Opec rhetoric, told Reuters. Later in the day Russian news agency Tass reported Rosneft would comply with an oil output cap should Opec come to a consensus and invite the country to join. Stephen Brennock, at London-based oil broker PVM, said: “Along with the lingering uncertainty on how Opec production cuts will be allocated, Russia is ill-prepared to rein in record output levels.” Higher Russian and Kazakhstan production boosted non-Opec output by 500,000 barrels a day last month, the IEA said. This puts more pressure on Opec, with that sharp increase reversing more than a third of the production decline outside the cartel in the past 12 months. Opec also faces the challenge of a recovery in output from violence-hit members Libya and Nigeria, which could swamp any agreement formally to restrict supply. Iraq has also indicated it is loath to restrict production. But the IEA said that without a deal the market would only inch slowly towards balance. “The market — if left to its own devices — may remain in oversupply through the first half of next year. If Opec sticks to its new target, the market’s rebalancing could come faster.” Source link

Lister has been linked to the chairmanship of the Homes and Communities Agency and a senior advisory role with the government’s UKTI inward investment agency. The HCA role has yet to be advertised, but many in Westminster see him as well qualified. Lister was leader of Wandsworth Council for 19 years before joining Johnson’s team five years ago. During his tenure at City Hall, Lister was regarded as a shrewd operator, able to deal effectively with developers, local authorities and central government alike. He played an instrumental role in the GLA’s public land disposals as well as planning policy. All the content from this weekís magazine, including this article, is available in the new app. Previous HCA chairman Robert Napier stood down in December, with Kevin Parry filling the role until a permanent chairman is appointed. The HCA, the national housing and delivery agency for England and regulator of social housing provision, is also without a full-time chief executive. Andy Rose left after three years in January, with Mark Hodgkinson appointed as interim chief executive and accounting officer of the agency in April. Lister is also expected to become a senior adviser to UKTI. He is already an advisory board member to the Regeneration Investment Organisation, which sits within UKTI, and his expected broader role would enable him to capitalise on inward investment contacts built up during his time as Johnson’s right-hand man. RIO is also undergoing a restructuring that will see it become part of a larger directorate within UKTI, responsible for capital investment into UK infrastructure and real estate. Source link