May 29, 2017

DECC requests meeting with EUA

DECC requests meeting with EUA Published:  07 April, 2016 Following the publication of the Energy and Utilities Alliance (EUA) report entitled ‘Biopropane for the off-grid sector’, the Department of Energy and Climate Change (DECC) requested to meet with EUA to discuss decarbonising off-grid heating. The meeting, which took place on

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APHC rallies support for Quality Plumber Week

APHC rallies support for Quality Plumber Week Published:  09 September, 2016 Installers are being encouraged to come together to support the annual Quality Plumber Week campaign, which takes place from 3 to 9 October, 2016. Organised by The Association of Plumbing and Heating Contractors (APHC), the third annual campaign will

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Pensioner property wealth hits £1 trillion milestone

Pensioner property wealth hits £1 trillion milestone The long-term story as highlighted by our research is that property has performed very well with average over-65s making more than £9,000 a year during a period of record low interest rates and stock market volatility The latest data

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Bathroom supplier’s £786k fine heralds crackdown on price fixing

The Competition & Markets Authority (CMA) has fined bathroom fittings supplier Ultra Finishing Ltd £786,668 for preventing retailers from discounting online prices. CMA has also sent warning letters to a number of other suppliers of bathroom fittings that it suspects have engaged in similar practices in relation to internet sales.

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Ineos aims to kick-start shale gas market

Ineos, the $50bn petrochemicals giant controlled by British billionaire Jim Ratcliffe, aims to accelerate shale gas development in the UK by lodging as many as 30 planning applications to drill test wells in the next six months. Tom Crotty, a director at Ineos, said the company hoped to start drilling

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Latest Issue
Issue 323 : Dec 2024

May 29, 2017

DECC requests meeting with EUA

DECC requests meeting with EUA Published:  07 April, 2016 Following the publication of the Energy and Utilities Alliance (EUA) report entitled ‘Biopropane for the off-grid sector’, the Department of Energy and Climate Change (DECC) requested to meet with EUA to discuss decarbonising off-grid heating. The meeting, which took place on 5 April, sees members from the off-grid heating sector meeting with DECC officials to explore the benefits offered by replacing LPG with biopropane. Isaac Occhipinti, head of external affairs at the EUA said: “We are delighted that the DECC recognise the very real opportunities this report outlines for cutting carbon emissions and we welcome the chance meet with them to discuss the subject further. Biopropane is a highly environmentally friendly and renewable product and if introduced to the 171,000 homes in the UK currently using LPG for heating, carbon emissions would be slashed. We will be talking to DECC about how cost effective introducing biopropane is, when compared to other renewable heating systems, as it directly replaces LPG, meaning that homeowners do not have to change or upgrade their heating system. Biopropane could be rolled out to off grid homes with minimal disruption and minimal fuss.” The EUA will be asking DECC to include biopropane in the Renewable Heat Incentive (RHI) after analysis showed that, if given an incentive to make the change cost neutral to the consumer, then biopropane could save taxpayers approximately 40% on the current cost of delivering the RHI. Image courtesy of Shutterstock/ bikeriderlondon Source link

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APHC rallies support for Quality Plumber Week

APHC rallies support for Quality Plumber Week Published:  09 September, 2016 Installers are being encouraged to come together to support the annual Quality Plumber Week campaign, which takes place from 3 to 9 October, 2016. Organised by The Association of Plumbing and Heating Contractors (APHC), the third annual campaign will be returning this October to celebrate the work of the UK’s professional plumbing and heating installers, emphasising the vital role they play in our communities. The week will also be encouraging more school leavers to enrol on a plumbing apprenticeship as a route into a respected and future-proof career, with 86% of people surveyed by APHC believing that young people should be encouraged to consider an apprenticeship as an alternative to university. With less than a month to go until the launch of the campaign, plumbers can pledge their support and shout about their quality with downloadable resources from the Quality Plumber Week area of the website, including a template release for plumbers and suppliers to distribute to their local press, suggested social media links, plumbing factoids and more information. During the week, APHC will also be running a Mega Trade Giveaway, encouraging installers to retweet any APHC post or tweet about why they’re backing #QPW16 to be in with the chance of winning a fantastic bundle of prizes at the end of the week. One lucky winner will become the proud owner of an AKW Wetroom Kit, an ADEY MagnaCleanse Kit, a Worcester Bosch Professional Cordless Hammer Drill, a Vokera BeSMART thermostat, a Klober Wakaflex roofing flashing roll, an Intatec Puro Bar Shower and Overhead Kit, a Sharkbite Starter Kit and Merlyn Ionic Express Shower Enclosure. John Thompson, chief executive at APHC, said: “We’ve been delighted with the support Quality Plumber Week has received in previous years and are encouraging the industry to come together once again this autumn to ensure our 2016 campaign is the best one yet. We hope installers will take this opportunity to celebrate their professionalism while also encouraging the next generation to follow their footsteps by taking on an apprenticeship in this skilled and well-respected trade.” More information on Quality Plumber Week can be found online at www.aphc.co.uk/quality-plumber-week.asp Source link

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Pensioner property wealth hits £1 trillion milestone

Pensioner property wealth hits £1 trillion milestone The long-term story as highlighted by our research is that property has performed very well with average over-65s making more than £9,000 a year during a period of record low interest rates and stock market volatility The latest data from over-55s financial specialist, KeyRetirement.com, has revealed that proeprty wealth amongst retired homeowners in the UK has passed the £1 trillion barrier for the first time. According to the analysis, pensioners who have paid off mortgages earned an average of £19,120 tax-free each from their houses in the past three months taking their property wealth to a new record high. Only over-65s in London and Scotland missed out in the past three months with Londoners seeing average falls of more than £62,000 and Scots suffering declines of nearly £16,000. However despite short-term ups and downs over-65 homeowners have seen strong long-term growth – since Key started analysing over-65s housing wealth in 2010, total pensioner property wealth has increased by around 24% or £245 billion which is worth around £55,000 on average for every homeowner. Owning a home has been worth around £9,100 a year for over-65s. Its Pensioner Property Index shows over-65 homeowners now own homes worth £1.01 trillion outright underlining the huge role property wealth is playing in financial planning and improving lifestyles in retirement. The growth in property wealth is helping drive the expansion of the equity release market with customers taking advantage of record low rates to cash in on their homes releasing around £76,300 on average, rising to more than £184,000 in London. The South East of England has now replaced London as the wealthiest region for over-65s accounting for a fifth of all UK pensioner property wealth. But it’s not doom and gloom for Londoners who, despite the recent fall, have experienced huge gains. Since the first index was published in 2010, Londoners have gained an average of £137,000 each over the period or £22,800 per year! Key highlights how record low rates for equity release coupled with the gains made are great news for pensioners. Looking at the best fixed rate 12 months ago compared to today, a pensioner borrowing the average release of £76,300 would now save £29,867 in interest over 15 years, increasing to a staggering £49,651 saving over 20 years. Dean Mirfin, technical director at Key Retirement.com said: “Property wealth is a growing asset for pensioners highlighting the success of investing in a home for the over-65s. The long-term story as highlighted by our research is that property has performed very well with average over-65s making more than £9,000 a year during a period of record low interest rates and stock market volatility. That is demonstrated by the average £76,300 that pensioners are choosing to release tax-free from their properties to enhance their retirement standard of living in general as well as to use for a wide range of purposes from holidays to considerable home improvement projects. With record low interest rates it is hardly surprising that property gains are being capitalised upon throughout the UK.” Source link

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Bathroom supplier’s £786k fine heralds crackdown on price fixing

The Competition & Markets Authority (CMA) has fined bathroom fittings supplier Ultra Finishing Ltd £786,668 for preventing retailers from discounting online prices. CMA has also sent warning letters to a number of other suppliers of bathroom fittings that it suspects have engaged in similar practices in relation to internet sales. Although the CMA has decided in this case to impose a fine only on the supplier, retailers should be aware that they can also be fined for entering into similar agreements with suppliers, it warned. The fine follows Ultra’s admission last month that it had broken competition law and its agreement to pay a fine. CMA announced then that it would apply a discount of 20% from the fine in recognition of efficiencies resulting from Ultra admitting its infringement. The fine would have been £1,032,502 without the discount. The fine is for Ultra’s infringement of competition law between 2012 to 2014. It engaged in resale price maintenance (RPM) in respect of the internet sales of its Hudson Reed and Ultra branded products. RPM constitutes vertical price-fixing where a supplier restricts the ability of a retailer to set the prices at which it will resell the supplier’s products, for example by requiring the retailer to sell at a particular price or only above a minimum price. “RPM is illegal because it prevents retailers from offering lower prices and setting their prices independently to attract more customers,” said the CMA. Ultra has now agreed to set up a programme to help ensure compliance with competition law within its business and among its staff. This includes a clear commitment to competition law compliance by the Ultra Board, including an external statement to that effect, which has been published on Ultra’s website. The company said: “The Directors of Ultra Finishing Limited (“UFL”) are committed to ensuring that UFL and its employees comply at all times with competition law. UFL has a competition compliance programme to ensure that the Board’s objectives can be achieved. The Board will ensure that it monitors UFLs’ [sic] adherence to the competition compliance programme and that it is addresses [sic] at every Board meeting.” CMA said that the company will also roll out tailored compliance training for all employees, and has put in place a detailed procedure to identify, assess and mitigate competition law risks. Ultra will review the compliance programme on an annual basis and submit a report on its compliance activities to the CMA each year for the next three years. The CMA is working with a number of industry bodies to help publicise the lessons to be learned from this case and to encourage best practice. It has also produced written guidance and a short video to help businesses understand more about RPM.   This article was published on 11 May 2016 (last updated on 11 May 2016). Source link

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Ineos aims to kick-start shale gas market

Ineos, the $50bn petrochemicals giant controlled by British billionaire Jim Ratcliffe, aims to accelerate shale gas development in the UK by lodging as many as 30 planning applications to drill test wells in the next six months. Tom Crotty, a director at Ineos, said the company hoped to start drilling in the north of England early next year and could begin extracting gas in about 18 months through the controversial technique known as fracking. The move comes as the group this year ends a six-year tax exile with the opening of a new headquarters in London for its mainly UK-based upstream oil and gas businesses. Mr Ratcliffe, the UK founder of Ineos who took the company to Switzerland in 2010 when it was struggling to pay taxes in the wake of the global financial crisis, has also returned to live in the UK, as first reported by the Sunday Times. Mr Crotty said the decision to headquarter the upstream businesses in the UK predated Britain’s vote last month to leave the EU. Mr Ratcliffe, who has argued that Britain would thrive outside of the EU, had decided to return given the rapidly growing business in the UK, he said. The main concern for Ineos now was to maintain free trade with the EU as in Norway, where Ineos had a sizeable petrochemical business. “As a model that works for us,” he said. Ineos, which has been built up over more than a decade through a series of acquisitions, last year moved into gas production after acquiring 12 North Sea fields from Russian oligarch Mikhail Fridman for $750m. The group, which owns the Grangemouth refinery in Scotland, has ambitions to become a substantial oil and gas producer, particularly in shale gas. Ineos has backed a highly public campaign to convince the Scottish government to lift its moratorium on fracking over the past year. However, the failure of the campaign has encouraged the group to bid for licences in England. It now has rights covering some 1m acres, mainly in the Cheshire basin, the north Midlands and North Yorkshire. Mr Crotty said that he was confident that recent changes to rules allowing ministers to intervene if local councils delay granting permission would finally lead to Ineos drilling test wells. Once drilling started, Mr Crotty said, people would “see [fracking] is not the Frankenstein monster they thought it was”. However he admitted that until permission was granted, it would continue to be “difficult” to convince critics. In May, councillors in Yorkshire approved the UK’s first fracking project in five years for a company called Third Energy. The technique, which forces a combination of water, sand and chemicals into the ground at high pressure to break rock and release gas, has come under fire from environmental campaigners who claim it has led to earthquakes and contamination of the water table. Source link

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