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Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215052285
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
It is estimated that offshore wind farms have the potential to contribute 8-15% of electricity by 2020. This will require a large investment in offshore infrastructure, including around £8 billion of investment in transmission assets (offshore platforms, cables and onshore substations). An elaborate regime that licences operators of offshore electricity transmission assets following competitions has been introduced. The aim was to develop a competitive market for offshore electricity transmission but the reality is that the first six licences were won by just two companies. Furthermore, the terms of the transmission licences awarded so far appear heavily skewed towards attracting investors rather than securing a good deal for consumers. The transmission operators receive their income from the National Grid which recovers its costs from electricity suppliers and generators. Future payments to licensees are estimated at around £17 billion, and this will ultimately be funded by customers who could well end up paying higher electricity prices. The investors' estimated returns of 10-11% on the initial licences look extremely generous given the limited risks the investors bear. Licensees are guaranteed a fully retail price index-linked income for 20 years regardless of the extent to which assets are used. Yet penalties are limited to 10% of expected income in any one year if the operators fail to provide the transmission facilities when required. Despite the lessons from the PFI market the Government has failed to ensure that gains secured, for example, from debt refinancing are shared
Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215052285
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
It is estimated that offshore wind farms have the potential to contribute 8-15% of electricity by 2020. This will require a large investment in offshore infrastructure, including around £8 billion of investment in transmission assets (offshore platforms, cables and onshore substations). An elaborate regime that licences operators of offshore electricity transmission assets following competitions has been introduced. The aim was to develop a competitive market for offshore electricity transmission but the reality is that the first six licences were won by just two companies. Furthermore, the terms of the transmission licences awarded so far appear heavily skewed towards attracting investors rather than securing a good deal for consumers. The transmission operators receive their income from the National Grid which recovers its costs from electricity suppliers and generators. Future payments to licensees are estimated at around £17 billion, and this will ultimately be funded by customers who could well end up paying higher electricity prices. The investors' estimated returns of 10-11% on the initial licences look extremely generous given the limited risks the investors bear. Licensees are guaranteed a fully retail price index-linked income for 20 years regardless of the extent to which assets are used. Yet penalties are limited to 10% of expected income in any one year if the operators fail to provide the transmission facilities when required. Despite the lessons from the PFI market the Government has failed to ensure that gains secured, for example, from debt refinancing are shared
Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215054050
Category : Political Science
Languages : en
Pages : 22
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Book Description
Author: Great Britain: Department of Energy and Climate Change
Publisher: The Stationery Office
ISBN: 9780101869621
Category : Science
Languages : en
Pages : 56
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Book Description
This memorandum provides a preliminary assessment of the Climate Change Act 2008 ch. 27 (ISBN 9780105427087) The Act aims to create a legislative framework for the effective management and delivery of policies to tackle climate change, in particular by: a). establishing an economically credible emissions reduction pathway to 2050, by putting into statute medium and long-term targets and a system of carbon budgets; b). providing greater clarity and predictability for industry to plan effectively for, and invest in, a low-carbon economy; c). providing a strong evidence base and expertise to underpin statutory targets; d). establishing a duty on the Government regularly to assess the risks to the UK from climate change and draw up a programme to address them; and e. creating a power for the Government to require a range of public authorities or statutory bodies to assess and address the impacts of climate change. The memorandum concludes that the Act has created an effective legislative framework and is structured to provide a degree of flexibility, setting a framework to motivate and enable policy action without being too prescriptive about how the framework should be applied. This is required to address the inherent unpredictability around future emissions projections and to ensure that mitigation is not unnecessarily costly. In this vein, the Climate Change Act allows for a carbon budget level to be amended if it appears to Government that there have been significant changes affecting the basis on which the previous decision was made
Author:
Publisher: World Business Pub.
ISBN: 9781569735688
Category : Business enterprises
Languages : en
Pages : 0
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Book Description
The GHG Protocol Corporate Accounting and Reporting Standard helps companies and other organizations to identify, calculate, and report GHG emissions. It is designed to set the standard for accurate, complete, consistent, relevant and transparent accounting and reporting of GHG emissions.
Author: Great Britain: Department of Energy and Climate Change
Publisher: The Stationery Office
ISBN: 9780101873222
Category : Business & Economics
Languages : en
Pages : 52
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Book Description
The Annual Energy Statement 2013 sets out the government's priorities in delivering the UK's energy policies in the near term: helping households and businesses take control of their energy bills and keep their costs down; unlocking investment in the UK's infrastructure that will support economic growth; playing a leading role in efforts to secure international action to reduce greenhouse gas emissions and tackle climate change. It presents plans to make switching simpler and quicker, and a new probe into energy firms' accounts, to make them more transparent on profits and prices, as well as increasing penalties for market manipulation and regularly checking that the market is working properly
Author: Stationery Office (Great Britain)
Publisher:
ISBN:
Category : Government publications
Languages : en
Pages : 304
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Book Description
Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215054067
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
The Treasury acts as both the finance ministry and economic ministry but it appears to neglect its role as finance ministry. Its own accounts are impenetrable and there are many instances of poor decision making by departments, which the Treasury could and should have prevented. While staff turnover fell in 2011-12, it is still very high. Furthermore, the Treasury remains committed to cutting its headcount by a third and there are still very few women at senior levels. The support provided to banks in the last crisis helped prevent the banking system from collapse. The Treasury has successfully withdrawn nearly all of the taxpayer guarantees to banks but the taxpayer still owns some £66 billion of shares in RBS and Lloyds, a sum which is yet to be recovered. The Treasury has not convinced that it understands either the risks it has taken on by indemnifying the Bank of England against losses on Quantitative Easing or the expected economic benefits. Some £375 billion has so far been injected into the economy as an 'experiment' but the Department could not explain what the effect has been on the whole economy or on different parts of society. The National Loans Guarantee Scheme achieved just 15 per cent of its intended take-up and has now been superseded by a more generous Bank of England scheme. The Treasury needs to be clear what it wants this Bank of England scheme to achieve, and how it intends to monitor it.
Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215055231
Category : Business & Economics
Languages : en
Pages : 36
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Book Description
In 2011-12, 20 million phone calls to HMRC were not answered. It cost the callers £136 million while they waited to speak to an adviser. And, against its target of responding to 80% of letters within 15 days, the department managed to reply to just 66%. Officials are beginning to realize that good customer service lies at the heart of any strategy to maximize revenues while cutting costs. Callers will no longer be forced to use the more expensive 0845 numbers. Other planned changes include the resolution of more queries first time and a call-back service where this is not possible. However, HMRC's new target of answering 80% of calls within five minutes is still woefully short of the industry standard of answering 80% of calls within 20 seconds. Just how the department is going to improve standards of customer service, given the prospect of its having fewer staff and receiving a higher volume of calls, is open to question. HMRC plans to cut the number of customer-facing staff by a third by 2015. At the same time, the stresses associated with introducing the Real Time Information System, Universal Credit and changes to child benefit are likely to drive up the number of phone calls to the department. HMRC is also to close all of its 281 enquiry centres which give face-to-face advice to customers. HMRC considers that it will be able to improve service standards by using its staff more flexibly. It may need to put in additional resources, though, to avoid the kind of plummeting performance we have seen in the past
Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Publisher: Stationery Office
ISBN: 9780215057419
Category : Technology & Engineering
Languages : en
Pages : 40
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Book Description
The Ministry of Defence has now reported on the affordability of its ten-year forward plan to purchase and support military equipment (the Equipment Plan) totalling some £159 billion, as well as its progress on delivering its largest projects in 2012. The Department has made a good start but there are concerns about over-optimistic assumptions, the completeness and robustness of support cost estimates, and risks to capability. The affordability of the Plan is based on an agreement between the Department and HM Treasury that it will receive a one per cent annual increase in its equipment budget over the period from 2015-16 to 2020-21. If this is now not achieved in the current fiscal circumstances then the current plan may well be unaffordable. The addition of a contingency provision of £4.8 billion is a positive step, however this may not be sufficient to absorb cost growth. In addition, the Department lacks a robust understanding of the support costs, and the associated risks, including the size of the budget that may be required to recover equipment from Afghanistan. The Department also faces a particular challenge in delivering projects to agreed timescales. Ultimately, the Department bears the risk of these delays in terms of military capability and we need greater transparency on these risks and how they are mitigated. This includes the Department being clear on the impact on capability if the £8 billion that is currently unallocated in the budget cannot be used for purchasing new equipment because it is needed to absorb cost growth
Author: TERI
Publisher: The Energy and Resources Institute (TERI)
ISBN: 8179936880
Category : Business & Economics
Languages : en
Pages : 400
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Book Description
TERI Energy & Environment Data Diary and Yearbook (TEDDY) is an annual publication brought out by TERI since 1986. It is the only comprehensive energy and environment yearbook in India that provides updated information on the energy supply sectors (coal and lignite, petroleum and natural gas, power, and renewable energy sources), energy demand sectors (agriculture, industry, transport, household, buildings), and environment (local and global). Recent changes in the energy sector and environment are depicted with the help of graphs, figures, maps, and tables. The publication also reviews government policies associated with energy and environment. TEDDY 2019/20 gives an account of India’s commercial energy balances, extensively covering energy flows within different sectors of the economy and how they have been changing over time. These energy balances and conversion factors are a valuable reference for researchers, scholars, and organizations engaged in energy and related sectors. Contents of the book are organized into three sections—Energy Supply, Energy Demand, and Local and Global Environment. Interlinkage of SDGs with energy and environment also forms the subject matter of TEDDY 2019/20. The thirty fifth edition continues to remain less prose intensive with inclusion of more data, represented with the help of infographics, thus making the publication an authentic and interesting read. Key Features: • Provides a review of government policies, programmes and initiatives that have implications for the petroleum and natural gas sector and the Indian economy • New chapters on Air Pollution, Solid Waste Management, Water Resource Management, and Land and Forest Resource Management • Exhaustive data from energy supply, energy demand, and local and global environment sectors Contents: Energy and environment: an overview Energy supply: Coal and lignite • Petroleum and natural gas • Power • Renewable energy Energy demand: Agriculture • Industry • Transport • Household energy • Buildings Local and global environment: Air quality and pollution • Solid waste management • Water resource management • Land and forest resource management • Climate change Audience: Researchers and Professionals from industries, government organizations, and public sector undertakings. Research scholars from different NGOs, bilateral and multilateral institutions, and academic institutions. Shelving: Energy, Environmental Sciences and Studies, Industry (Coal and lignite, oil and gas, power, renewable energy), climate change, Agriculture sector, Transport sector, domestic sector
