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Europe

Europe

Warning on independence oil revenue

An independent Scotland faces a basic income tax rate of 30% or 5% cuts to public spending across the board when new oil and gas estimates from one of the industry’s most respected figures are taken into account, according to Treasury Chief Secretary Danny Alexander.

Europe

EDF Energy to pay out millions

EDF Energy is the latest of the Big Six energy companies to pay out millions after an investigation by watchdog Ofgem found it had breached complaint handling rules.

Europe

Scottish Independence: Danny Alexander writes exclusively for Energy Voice

Yesterday we discovered a massive black hole in Alex Salmond’s economic case for independence. Sir Ian Wood, one of the world’s foremost oil industry experts, issued a clear warning about the Scottish Government’s projections for North Sea oil extraction. He said that their prediction that 24 billion barrels of oil still remain to be extracted from the North Sea is between 45% and 60% too high. His view is that the correct figure is between 15 and 16.5 billion barrels remaining.

Europe

Wind provides 22% of power

Wind power has generated a new record high of 22% of the UK“s electricity over a 24-hour period, industry body RenewableUK said.