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

John CousinsManaging DirectorInterim Energy Management Limited

Maritza Valley Coal Resources

May 11, 2006

Analysis of: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.

John CousinsManaging DirectorInterim Energy Management Limited

Advances in coal fired power stations need regulatory certainty

April 25, 2006

Analysis of: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.

John CousinsManaging DirectorInterim Energy Management Limited

UK Energy Policy

April 24, 2006

Analysis of: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.

 

John CousinsManaging DirectorInterim Energy Management Limited

Centrica and Drax Power agree on long-term power contract

April 19, 2006

Analysis of: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.

John CousinsManaging DirectorInterim Energy Management Limited

UK energy market models

April 12, 2006

Analysis of:Europe is not to blame for Britain's woes | news.ft.com

In a recent Financial Times Article (23 Februruary 2006), Jonathan Stern suggests that the UK gas market model has failed to deliver either timely new imported [gas] supplies or adequate storage. This led to record high gas prices last winter

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