Deepening Energy Crisis: Britain Has Become ‘Uninvestable’, Analyst Warns
Danny Fortson, The Sunday Times
The German owner of Npower is set to write off hundreds of millions of pounds on the value of its British power plants in the latest sign of a deepening crisis among the big six energy suppliers. RWE, one of Europe’s largest power companies, will reveal the British loss as part of an expected £4bn writedown of the value of its fleet of power stations.
The loss arises from pollution taxes that are forcing the closure of old coal-fired plants. Big subsidies for renewable energy, meanwhile, have made even gas-burning plants, which are much cleaner than coal stations, loss-making.
The hit will alarm Whitehall, which is increasingly worried about the lights going out. Companies have stopped building new power stations amid a political and regulatory backlash, sparked last year by Ed Miliband’s pledge to freeze energy prices....
Peter Atherton, analyst at Liberum Capital, said Britain had become uninvestable as political pressure over soaring household bills has intensified. “I can think of a dozen very good reasons not to invest in the UK, and not one good one to invest here this side of the election,” Atherton said.
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Ed Miliband, with his lying, corrupt, and literally murderous promise to freeze electricity prices when he was already on record as wanting higher electricity prices, merits particular condemnation. Ed Miliband was previously on record as saying that, because of his Climate Change Act "energy bills are likely to rise". Thus, by definition, every Labour MP/MEP who is not cynical, corrupt and murderous has publicly dissociated themselves from his lying promise (that would be zero so far).
But he only deserves a little more censure that the other parties. All of them supported that Act; all of them are deliberately pushing up electricity prices and bringing blackouts closer; and every MP/MSP who is not a cynical, corrupt, murderous totalitarian has publicly denounced the policy (5 MPs & zero MEPs out of 760).
And its worse in Scotland
Scottish homes pay most for energy in Britain
Basically because we are further north. But don't worry Salmond is about to promise that after independence Scotland will be further south.
Danny Fortson, The Sunday Times
The German owner of Npower is set to write off hundreds of millions of pounds on the value of its British power plants in the latest sign of a deepening crisis among the big six energy suppliers. RWE, one of Europe’s largest power companies, will reveal the British loss as part of an expected £4bn writedown of the value of its fleet of power stations.
The loss arises from pollution taxes that are forcing the closure of old coal-fired plants. Big subsidies for renewable energy, meanwhile, have made even gas-burning plants, which are much cleaner than coal stations, loss-making.
The hit will alarm Whitehall, which is increasingly worried about the lights going out. Companies have stopped building new power stations amid a political and regulatory backlash, sparked last year by Ed Miliband’s pledge to freeze energy prices....
Peter Atherton, analyst at Liberum Capital, said Britain had become uninvestable as political pressure over soaring household bills has intensified. “I can think of a dozen very good reasons not to invest in the UK, and not one good one to invest here this side of the election,” Atherton said.
----------------------------------------------------
Ed Miliband, with his lying, corrupt, and literally murderous promise to freeze electricity prices when he was already on record as wanting higher electricity prices, merits particular condemnation. Ed Miliband was previously on record as saying that, because of his Climate Change Act "energy bills are likely to rise". Thus, by definition, every Labour MP/MEP who is not cynical, corrupt and murderous has publicly dissociated themselves from his lying promise (that would be zero so far).
But he only deserves a little more censure that the other parties. All of them supported that Act; all of them are deliberately pushing up electricity prices and bringing blackouts closer; and every MP/MSP who is not a cynical, corrupt, murderous totalitarian has publicly denounced the policy (5 MPs & zero MEPs out of 760).
And its worse in Scotland
Scottish homes pay most for energy in Britain
Basically because we are further north. But don't worry Salmond is about to promise that after independence Scotland will be further south.
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