01 Aug 2011
Fresh from the Future of the Water Industry seminar, and with the recent publication of Defra's review of Ofwat, we thought it would be timely to cover the issue of regulatory change in the UK water industry.With Ofwat engaged in an open review of the way the industry is regulated, there's renewed vigour for seizing the opportunity of shaping the regulatory future of the industry in addition to delivering mechanisms for more efficient use of water and the protection of poorer households.
27 Jul 2011
Draft legislation could point the way for the world's largest polluters to follow. At the third attempt, the Australian government has published new carbon pricing legislation, implementing a regime that will first establish a fixed tax rate for Australia's largest emitters in 2012, and will then move to an openly traded market price from 2015. As one of the highest per-capita emitters of CO2 in the world, Australia's announcement is seen as a move that could establish the direction for other non-EU nations to follow over the next 5-10 years.
"It means that we keep the lights on," Mr Huhne told BBC Breakfast. "Because we are replacing a quarter of our clapped-out electricity generation."Earlier this month, the UK's Energy Secretary, Chris Huhne, announced plans for £110bn investment in electricity generation, principally via an increased focus on nuclear and renewable energy sources. However, Baringa suggests, this ambition must be combined with a comprehensive assessment of the evolution of demand, and the role of the networks in connecting the generation with that demand. The major factors impacting demand will include a focus on sustainability and efficiency, improved energy management, and increasing use of electric vehicles, heat pumps and small scale solar.
The results of the European Banking Authority (EBA) stress tests are in and, if you haven't already, it's time to start thinking about what they might mean for banks.The results of this most recent stress test are an improvement on the previous round, but many observers are flagging their concern over the impact of further deterioration of EU Sovereign debt exposures on banks' balance sheets. The EBA will soon be releasing its recommendations for those banks that fell short of the 5% Core Tier 1 (CT1) benchmark, sending a strong signal that capital bases must be strengthened by the end of 2011; we're expecting follow-on reports to the market in February and June 2012.