Friday, 27 November 2015

ENERGY INTENSIVE INDUSTRIES IN UK EXEMPT FROM GREEN TAXES

Britain will permanently exclude energy-intensive industries such as steel and chemicals from extra costs to support green energy projects, Chancellor George Osborne said on Wednesday. Steelmakers in particular have been hit by heavy energy costs that make it harder for them to compete internationally, contributing to thousands of job cuts in the sector in recent weeks. "We're going to permanently exempt our energy intensive industries ... from the cost of environmental tariffs, so we keep their bills down, keep them competitive and keep them here," Osborne told Parliament in his autumn budget statement. --Reuters, 25 November 2015
  
In his Autumn Statement, or budgetary update, to the British Parliament on 25 November, Chancellor of the Exchequer George Osborne dropped yet another morsel for UK shale enthusiasts. “We are supporting the creation of the shale gas industry by ensuring that communities benefit from a Shale Wealth Fund (SWF), which could be worth of up to £1 billion ($1.6 billion).” Much of it is designed to win over people and local councils in zones impacted by shale exploration. It follows the British Department of Energy and Climate Change’s earlier announcement that the government’s energy policy will see natural gas play a “central role in the UK’s future power generation plans”. --Gaurav Sharma,
Forbes, 25 November 2015

 

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