GLG News by Utilities and Power Generation Industry Experts (EU)

John CousinsManaging DirectorInterim Energy Management Limited

The Early Bird catches the worm

September 27, 2007

Analysis of: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.

John CousinsManaging DirectorInterim Energy Management Limited

UK's Nuclear Power Choices

May 29, 2007

Analysis of: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

John CousinsManaging DirectorInterim Energy Management Limited

Carbon Capture and Sequestration (CCS)

May 24, 2007

Analysis of: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?

John CousinsManaging DirectorInterim Energy Management Limited

UK needs a balanced mix of generation

May 24, 2007

Analysis of: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.

John CousinsManaging DirectorInterim Energy Management Limited

UK Governments set to clash over nuclear power policy.

May 23, 2007

Analysis of: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

John CousinsManaging DirectorInterim Energy Management Limited

Will Phase 2 of the EU ETS be successful in reducing emissions

May 23, 2007

Analysis of: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.

John CousinsManaging DirectorInterim Energy Management Limited

Can coal subsidies be phased out in Europe?

May 23, 2007

Analysis of: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.

John CousinsManaging DirectorInterim Energy Management Limited

Power Plants select proven GT's ahead of New Models.

May 22, 2007

Analysis of: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?

Randall TinkermanStrategic Due DiligenceDeutsche WindGuard

Famed Bird Protection Group Endorses Windpower

December 15, 2006

Analysis of:Audubon Society Supports Windpower | www.renewableenergyaccess.com

The exceptionally strong endorsement for windpower by the conservative Audubon Society removes an important though specious argument against windpower.  The industry has been fighting false perceptions about the avian mortality issue for more than two decades.  With this support, the issue can now be laid to rest.

Randall TinkermanStrategic Due DiligenceDeutsche WindGuard

Analysts Misrepresent Renewables

December 14, 2006

Analysis of:The Myth Of Alternative Energy | www.countercurrents.org

The latest two analyses on windpower and renewables are factually wide of the mark, and should be discounted.  Major discrepancies between the "facts" quoted in these two analyses and reality on the ground show that the opposition to renewables is not based upon science, nor on true economics.

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