Friday, April 11, 2008

E.ON tells ministers to come clean about green energy's cost to public. And: Windfalls for Everyone*

Money, money, money....MONEY!
Just tell people the truth, it's pretty simple.
Three stories, the headline is from The Independent:

Senior energy executives have called on ministers to come clean about the costs of the Government's ambitious plans for a green energy revolution.

Government ministers have eagerly publicised in recent months tough new carbon reduction targets and an array of initiatives that will be needed to meet those demands, such as biomass and wind power generation and carbon capture and sequestration technology – "green" measures that play well with the electorate.

They have remained conspicuously quiet, however, about the inevitable knock-on effects this will have on household energy bills, content to stand by as energy companies are lambasted for rising bills.

That is according to the Government's goal of having 33 gigawatts of wind capacity installed by 2020, at current rates of about £2bn for each gigawatt of wind capacity....
From Bloomberg:

European Power Climbs to Records, Consumers May Pay the Price

Power prices rose to records across Europe, potentially increasing costs for consumers and industry on the continent as economic growth slows.

Power for 2009 in Germany, Europe's biggest electricity market, climbed to a record 65.50 euros ($105) a megawatt hour, gaining 1.2 percent, according to broker GFI Group Inc. The contract traded at 65.25 euros at 3:35 p.m. Berlin time. French, Dutch and U.K. contracts also rose to records.

European electricity prices are in the third year of a rally as the price of oil is surging and after the introduction of the European Union's emissions-trading program. The increased costs for the continent's 306 million people and industry may dent an economy that's being threatened by a possible U.S. recession and add to inflation pressures....MORE

Finally, from the BBC:

EU 'windfall for power companies'

Europe's big power companies could make profits of up to 71bn euros (£56bn) from the EU's scheme to curb carbon emissions, according to a report.

*Maybe not for everyone. For Europe's rulers (they really do think they're rulers, don't they) and for the power companies as long as the permits are free. Not so much for the taxpayers/ratepayers.

I am reminded of the aliens who plot to become the Earth's Overlords on the Simpsons, Kang and Kodos. Here's Kang showing off his (her?) political skills:

Kang on politics:
Kang: Abortions for all.
[crowd boos]
Very well, no abortions for anyone.
[crowd boos]
Hmm... Abortions for some, miniature American flags for others.
[crowd cheers and waves miniature flags]

From episode 4F02 "Treehouse of Horrors VII"