Ofgem Grants Offshore Wind Licence to Dudgeon OFTO
The government regulator for gas and electricity markets in Great Britain Office of Gas and Electricity Markets (Ofgem) has granted TC Dudgeon OFTO plc a licence for the link to the Dudgeon offshore wind farm.The licence allows Dudgeon to own and operate the GBP297.9 million (USD 391 mln) high-voltage transmission link to the Dudgeon offshore wind farm for the next 20 years.Transmission Capital Partners, a consortium comprising International Public Partnerships Limited, Amber Infrastructure Group and Transmission Investment…
CFTC Shows US Commodity Manipulation Laws Have Teeth
By extracting a $13 million penalty and imposing tough restrictions on future oil trading by Arcadia and others, the U.S. Commodity Futures Trading Commission (CFTC) this week sent a powerful signal that laws against market manipulation still have teeth. The case challenges a now famous view expressed in 1991 by commodities lawyer Jerry Markham that manipulation of commodity futures prices had become an unprosecutable crime. "Under present law the crime of manipulation is virtually unprosecutable, and remedies for those injured by price manipulation are difficult to obtain," Markham wrote in an article published in the Yale Journal of Regulation.
IEA Pushes for Renewables and Nuclear Power
In a review of Finnish energy policies launched, the International Energy Agency praised Finland for its commitment to a sustainable energy future. With its energy-intensive industries and its cold climate, Finland’s energy consumption per capita is the highest in the IEA. Yet the IEA noted that Finland’s energy policy framework was broad and coherent, covering all sectors and paving the way for a more sustainable energy system in the longer term. “Finland is highly dependent on imported fossil fuels, making security of supply a priority,” IEA Executive Director Maria van der Hoeven said as she presented the report in Helsinki. The report…
IEA Commends New Danish Energy Strategy
Denmark is a leader in implementing well-designed policies for renewable energy, energy efficiency and climate change, according to a review of Danish energy policies published today by the International Energy Agency (IEA).<http://www.iea.org> The review applauded Denmark's long-term vision for a low-carbon future - all Danish energy supply is to come from renewable sources by 2050 - and its achievements to date, but also sounded some notes of caution regarding the implementation of such an ambitious strategy. "The IEA commends Denmark and its people for the scope of their vision and their many successes in adopting sustainable energy policies," said IEA Executive Director Maria van der Hoeven as she presented the review.
New Report on Norwegian Energy Policy
Norway is pursuing ambitious, forward-thinking energy policies, but could go further in its efforts to become a low-carbon economy, the International Energy Agency (IEA) has concluded in a review published today. Energy Policies of IEA Countries - Norway 2011 Review says that it will be challenging for Norway to meet its 2020 target of reducing greenhouse gas emissions by 30% compared with 1990 levels, because both the country’s electricity supply and its energy use in buildings are already essentially carbon-free due to hydropower use.