GLG News by Mr. John Cousins, Managing Director
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Power Systems need firm generation capacity
October 26, 2007
Plans for coal power plants delayed | www.bismarcktribune.com
Many current fuels and clean sources for power generation provide non-firm supplies. Coal remains the cheapest most cheaply and easily stored power generation fuel, and therefore must remain in the fuel misx of most generators.
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Failure to address capacity deficit means joining the back of the queue
October 23, 2007
Plans for coal power plants delayed | www.bismarcktribune.com
Globally thaere is great demand for power generation equipment and skills for construction, testing and operation of new plant. Plant owners who delay orders or have consent delays imposed upon then risk joining the queue for key components and skills for manufacture and commissioning of new plant.
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Will Stretch and Stretch-Stretch Continue
October 18, 2007
BP outlines reorganization to cut costs | www.iht.com
Throughout the boom period of BP's performance staffers have been incentivised by a target driven culture that has seen to be counter-productive to the overall group performance and image.
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October 12, 2007
Pressure mounts on BAA to sell airports | scotlandonsunday.scotsman.com
BAA owns and operates the three main London Airports at Heathrow, Gatwick and Stanstead together with the three main Scottish hubs at Edinburgh, Glasgow and Aberdeen. The final airport in the group is Southampton. As such BAA has for years enjoyed near monopoly for business and leasure travel to and from London and Scotland. This has bread complacency and led to high staff numbers and poor productivity.
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Need to consider all bulk shipping market
October 9, 2007
China yard delay fears | www.tradewinds.no
Whilst Cape sized vessels are the work horses of bulk commodity shipping the overall bulk shipping market needs to be considered. Considerable bult commodity transport is carried in smaller Panamax and Handy sized vessels.
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Ship owners have long memories
October 3, 2007
Excel gets a raise | www.tradewinds.no
Bulk freight rates slumped to uneconomic lows in the second half of 2001. Typical rates for Cape Size vessels from South Africa to Europe fell to US$4.5/te, and from Australia to Europe to US$6.60/te. For Panamax vessels Australia to Europe fell to US$9.25/te and from South Africa to Europe US$6.5/te. The growth in world bulk freight particularly in the far east has bouyed demand and saved the day for ship owners
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EU ETS needs time and political will
October 1, 2007
Why the EU Emission Trading Scheme isn't working | www.openeurope.org.uk
Phase 1 (2005-2007) could be described as a complete failure or merely a leaning experience. Phase 2 (2008-2012) will build on earlier phase, but there are doubts that individual staes have been stringent in the issue of emission allowances. Phase 3 (beyond 2012) is a great opportunity
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The Early Bird catches the worm
September 27, 2007
NRG Energy seeks permission to build 2 nuclear reactors in Texas | www.iht.com
Cancellation of the proposed TXU coal-fired plants may lead to a perceived lack of firm generation capacity that can be adequately filled by new reliable and safe nuclear plants. Being first in the queue to license new nuclear reactors, will put NRG in a powerful position. There are more than sixty examples of GE designed, BWR power plants successfully operating or since de-commissioned globally. Examples of BWR’s are to be found in USA, Finland, Germany, India, Japan, Mexico, Spain, Sweden and Switzerland. The UK nuclear regulators, HSE together with the Environment Agency (EA), have developed a Generic Design Assessment (GDA) process for the new generation of nuclear power stations. A GE-Hitachi consortium has submitted its ESBWR that employs a direct-cycle, natural circulation boiling water reactor to the UK GDA process. Other designs submitted to GDA are two PWR's and an advanced Candu Reactor design.
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May 29, 2007
Westinghouse AP 1000 (TM) Reactors System for UK Licensing | www.prnewswire.com
UK Government hope that privately financed nuclear power stations will be built to provide low carbon, firm electricity generation to increase security of supply. Around 13GW of coal and oil fired power stations will close by 2015 together with up to 6GW of nuclear capacity. UK's long term carbon dioxide emissions targets and aspirations will be impossible to meet without new build nuclear, as renewable technologies cannot be built quick enough or provide firm generation capability. Because of the long planning, construction and commissioning cycle for nuclear plants, an early start is necessary for new plants to be in service before 2015 to 2020
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Carbon Capture and Sequestration (CCS)
May 24, 2007
BP axes plan for carbon capture power station | www.ft.com
The Miller Field has been in production since 1992 and is almost depleted. EOR was added to the field in 1996, using alternating water sweep and gas re-injection. A dedicated pipeline system exists between the Miller platform and Peterhead Power Station with no third party use, and gas re-injection exists on the production platform. If CCS is not viable without subsidy for this project, what chance has CCS of being commercially viable at other sites where infrastructure has to be built and where there will be no revenue stream from EOR? Is it wrong to provide government assistance for CCS on a natural gas project, and would any public funds be better spent assisting CCS on a more carbon intensive coal-fuelled project? Does existing infrastructure assist CCS or does it hinder the project economics?
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UK needs a balanced mix of generation
May 24, 2007
Lukoil joins top league with $100 billion plan | www.iht.com
During 2006, UK coal-fired power station generated just over 50% of UK electricity, and of the c.52 million tonnes of coal burnt in these power stations only 17.5 million tonnes was produced from UK mines. Around 22.3 million tonnes of coal was imported from Russia and burnt in UK power stations in 2006. UK natural gas resources are declining more rapidly than anticipated even with development of marginal oil and gas fields being stimulated by high prices. Increasing amounts of natural gas will have to be imported in the future with much of it coming from Eastern Europe. UK needs nuclear power for security of supply going forward.
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UK Governments set to clash over nuclear power policy.
May 23, 2007
UK Governments clash over nuclear power policy | news.scotsman.com
The SNP, Green and Liberal Democrat Parties all campaigned against more nuclear power stations in Scotland in the lead up to the May 3 election. A recent poll suggested more than 72% of newly elected member of the Scottish Parliament were against building any more nuclear power stations in Scotland. Whilst UK energy policy is a matter reserved for the Westminster Parliament, decisions on planning and location of new power stations in Scotland is matter for the Scottish Parliament
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Will Phase 2 of the EU ETS be successful in reducing emissions
May 23, 2007
Phase 2 of EU ETS | www.ft.com
Phase 1 of the EU ETS(2005 to 2007) has been characterised by a majority of EU Nations allocating too free many Carbon Reduction Allowances. Verified emissions out-turn for 2005 caused the traded price of caron permits to collapse, and this has been reated when the verified emissions for 2006 were published in May 2007. Allocations for Phase 2 of the EU ETS (2008 to 2012) should have been approved several months ago, but States delayed submitting National Plans and many of these have seen the proposed Cap on emissions reduced by the European Commission (EC). The EC appears to be trying to be tough on State that are not seen to be reducing emissions fast enough and setting easy targets for carbon dioxide reductions.
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Can coal subsidies be phased out in Europe?
May 23, 2007
Commission reports on the application of State aid rules to the Coal Industry in the EU | europa.eu
Germany, Spain and Hungary have coal production costs of more than twice the world market for coal and are dependent upon State Aid. Czech Republic, Poland, Slovakia and UK are more or less competitive on the World market, and are either un-subsidised or only receive a low level of subsidy for new investment or to mitigate inherited liabilities. New accession countries such as Romania and Bulgaria have to apply by end 2007 if they need subsidy for their mines. Many European coal produces have lived with subsidy for years, and may not be able to respond to future price pressures.
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Power Plants select proven GT's ahead of New Models.
May 22, 2007
Siemens' H Gas Turbine Heads Out for testing | www.dieselgasturbine.com
Power generators will co-operate with gas turbine manufacturers to develop new, higher output more efficient GT's, but seem unwilling to order new models. The latest Siemen's H Gas Turbine will be the worlds largest and most powerful gas turbine to date, and will have an output of 340MW. Previous new models of gas turbine have suffered problems when put into commercial service, and orders only start to flow once all the problems have been ironed out. Can the period between launching a new model of gas turbine, and a successful order book be reduced?
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Limp response from Scotland's First Minister
November 30, 2006
Iberdrola to buy Scottish Power in $22.5 bln deal | www.washingtonpost.com
The Robert Barr article quotes Scotland's First Minister Jack McConnell as seeking assurances from the EU on the Iberdrola take over of Scottish Power, but refusing to say whether the deal would be good or bad for Scottish business. In reality the First Minister has very little say in the matter, but needs to say something as he has to fight a general election in May 2007 and is currently well behind in the opinion polls to the Scottish National Party. Energy matters are not a devolved power to the Scottish Parliament and are a reserved power for the Westminster Government of Tony Blair.
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May 11, 2006
AES builds new clean coal plant in Bulgaria | phx.corporate-ir.net
Maritza Valley in Eastern Bulgaria is the site of a huge lignite mine, producing fuel for a complex of power stations with over 2.4GW capacity. The lignite mined in the Maritza Valley is very high in sulphur content, and there are possible opportunities for imported very low sulphur coal for blending with the highest sulphur coals to provide an acceptable and economic mix that can be handled by the FGD plant.
However,the power plants are generally old constructions without flue gas clean up. Entergy agreed in 1998 to jointly upgrade the 25 year old Maritza 111 power plant before its 2002 decision to withdraw from Europe. Italy's Enel joined the joint venture in 2002 agreeing to install FGD equipment to the ageing plant extending its life. -
Advances in coal fired power stations need regulatory certainty
April 25, 2006
RWE to build clean coal technology power statiuon in UK | news.ft.com
RWE power plans to build a new clean coal technology power station on their Tilbury site close to London. The existing power station, originally 4 x 350MW with only 3 units currently available, will have to close by end of 2015 under the EU Large Combustion Plant Directive. A new plant is being considered for the site that is valuable and close to London, and is served by international coal delivered by coastal handy sized vessels that are trans-shipped with international coal imported to major continental European ports.
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April 24, 2006
Oportunities for Manufacturers and Gas importers from new CCGT capacity requirement | www.parliament.uk
A new report from the influential UK parliamentary Environmental Audit Committee has identified that UK will require an additional 15 to 20GW of new CCGT capacity in the next 10 years. A proposal to deliver new nuclear capacity and renewables will be unable to keep pace with identified plant closures and rising demand.
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Centrica and Drax Power agree on long-term power contract
April 19, 2006
Centrica places major contract with Drax Power | www.centrica.com
Overview of contract:
- Long term deal increases fuel diversity for Centrica.
- Avoids Centrica investing in coal fired power generating equipment
- Decreases Centrica exposure to short-term electicity markets.
This agreement will be an essential building block for Drax to have a secure long-term market for its base load output, even if gas prices fall.
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