Latest news with #CFD
The Herald Scotland
2 days ago
- Business
- The Herald Scotland
Support for Scottish windfarms will increase energy bills
The offshore floating wind sector will be one of the biggest beneficiaries of reforms to the main scheme the UK Government operates to encourage firms to commit to the upfront investment required. In the latest round of the Contracts for Difference programme floating windfarm developers will be guaranteed £271 per megawatt hour (MWh) for their output regardless of what prices prevail in the market. The value of the revenue guarantee has increased by more than 10% since the latest allocation round was completed last year, when the strike price for floating windfarm output was set at £245/MWh. Mr Miliband is so anxious to ensure that the round is a success that he has also agreed to extend the standard term of CFD awards to 20 years from 15. READ MORE: Just transition fund farce deepens as Scottish firms fight over windfarm scraps The changes were announced weeks after Scottish Renewables said bold action was required from ministers to maintain the momentum behind the development of the emerging floating windfarm sector, which champions reckon can play a crucial role in the net zero drive. While only two floating windfarms have been developed off Scotland to date their performance has reinforced hopes that such schemes could offer big advantages compared with conventional facilities that have foundations on the seabed. Floating windfarms can be deployed in deeper waters allowing them to harness stronger winds that blow more consistently than those nearer to the shore. They could be placed far enough offshore to ease the concern of critics such as Mr Trump who complain about the impact of windfarms on views. Scotland is seen as being well placed to capitalise on the development of floating windfarms because of its geography and its oil and gas industry heritage. Around 90% of the waters off Scotland are deep. Dan Jackson, who is leading work on Cerulean Winds' plans for the Aspen floating windfarm off Aberdeenshire, has noted that wind strengths in the area it is targeting are more than double what they are in southern England. READ MORE: Investors eye Scottish floating windfarm bonanza The hope is that success in the floating market will help compensate for the disappointments that Scotland has suffered to date in terms of the economic impact of renewables activity. While firms have invested heavily in conventional developments on land and offshore, with CFD support, the benefits have gone mainly to companies based outside Scotland. The number of jobs created in Scotland has fallen well short of expectations. A report on the SNP Government's £500m Just Transition Fund released this month found that it helped create just 110 jobs in its first two years. Excitement about the potential value of floating wind activity in Scotland increased after US private equity investors agreed two years ago to provide £300m backing for a plan to turn the Port of Ardersier on the Cromarty Firth into a major low carbon energy support facility. But some people will be concerned that Scotland will benefit disproportionately from the support that will be provided for floating windfarm developments. Lots of firms have shown interest in Scotland. Crown Estate Scotland awarded leases covering acreage on which firms expect to deploy around 25 windfarms in rounds completed in the last three years. Successful applicants included Cerulean, Shell, SSE and ScottishPower. However, firms appear less enthusiastic about the waters off England. In June a licensing round covering acreage off South West England generated a disappointing response. READ MORE: SNP Government green jobs failure seen in English city's success The concern about Scotland's share of floating windfarm funding support will be heightened by the fact that the costs of the technology are much higher than those for established alternatives. In the allocation round that it is expected will be launched next month conventional offshore windfarms will be guaranteed £113/MWh for their output compared with £102/MWh last time. Onshore windfarms will be guaranteed £92/MWh against £89/MWh. Developers will get top up payments if market rates fall below the strike prices guaranteed under the CFD round. If rates rise above the strike price developers will have to pay over the difference. However, Governments have run the CFD scheme for years in the expectation that the amounts paid to developers will far exceed recoveries. Mr Miliband boasted that the budget for the allocation round that was completed last year would be increased by £500m to £1.5bn. The latest data collected by the regulator Ofgem indicates that wholesale prices averaged around £80/MWh in May. If rates remain around that level floating windfarm developers will be in line for big payments under the CFD contracts awarded in the forthcoming round. The costs will be added to the energy bills of householders across the UK irrespective of whether projects in the areas they live in will benefit. READ MORE: As Chevron closes Aberdeen office, what now for North Sea jobs? The proposals for the latest CFD round underline the fall in the price of solar energy schemes, which are more widespread south of the border. The strike price for solar will fall to £75/Mwh from £85/MWh. Scotland could also benefit from the increase in the strike price for larger hydropower schemes, to £168/MWh from £142/MWh. However, Scottish energy giant SSE has provided a reminder that the performance of hydropower and other renewable schemes depends on the weather. This month the energy giant revealed that its hydropower output slumped 40% in the latest quarter amid the sunshine the UK enjoyed. In a trading update issued at SSE's annual general meeting the Perth-based firm welcomed the increase in the length of new CFD contracts. The company also praised the Government's decision to retain a UK-wide electricity pricing system although critics claim this prevents householders in Scotland from benefiting from the abundance of renewable electricity in the country. SSE warned a shift to a system under which prices varied in different parts of the UK would lead to cuts in investment. As chief executive Alistair Phillips Davies retired after 12 years in post, the company made clear at the AGM that it remained keen to invest in renewables generation assets and the network improvements that will be required to make the most of them. However, SSE expects gas-fired power to remain a key part of the energy mix for years. READ MORE: Israeli-owned firm takes control of UK's biggest gas field It continues to cause the SNP Government discomfort by championing plans for a new gas-powered plant at Peterhead with related carbon capture facilities. First minister John Swinney would love to see Scotland secure the jobs the plant would create but is under intense pressure to oppose the development from the greens the [[SNP]] wants to keep onside.
Metro
6 days ago
- Business
- Metro
Londoners outraged over 'stupid' new charge being added to restaurant bills
If you're the type of person who seethes when a service charge is automatically slapped onto your restaurant bill, you probably won't like this. On Reddit's London thread, tauhou_ posted a picture of their receipt from The Pig and Butcher in Islington, highlighting a discretionary 'Carbon Free' fee that had been added to their total meal price. Commenters didn't hold back on sharing their thoughts, describing the charge as 'stupid and sneaky,' 'a load of b******s,' and a 'total scam'. 'More rinsing of customers with climate change as the excuse,' wrote Both-Ad-7037, while Fritti_T added: 'Yet another way to nickel and dime us.' According to Noble Inns, The Pig and Butcher's parent company, all tables (regardless of guest numbers or total spend) are asked to donate a flat £1.23 to either of its two charity partners; GiftTrees and Street Smart. A representative for the firm told Metro: 'This is optional and we explain this to customers. They can just ask to remove it. So far this calendar year our customers have donated £31,000 to GiftTrees and £9,211.75 to Street Smart.' Street Smart supports homeless charities, meaning the charge tauhou_ spotted on their check likely refers to GiftTrees's Carbon Friendly Dining (CFD) Initiative, created alongside payment system provider Lightspeed. Each donation allows a diner to 'offset the environmental impact of their meal' by planting a tree in the developing world, with a GiftTrees spokesperson telling Metro that more than 12 million diners from hundreds of restaurants have 'happily contributed' to the planting of over 4.5 million trees. However, there's more to it than just saving the planet. Although signing up comes at no cost to companies, the CFD website lists perks ranging from free marketing and enhanced sustainability to 'more, happier customers, better online reviews and happier staff.' Additionally, certified UK restaurants receive one 'sustainable credit' for every five trees planted by their diners' contributions, which they can put towards Lightspeed products. This seemed to be the crux of some Redditors' criticism, but others were angriest at the fact they'd have to opt out of the payment. More Trending 'It's ridiculous that some restaurants are now charging diners for carbon offsetting schemes,' consumer champion and customer service consultant Jane Hawkes (also known as Lady Janey) tells Metro. 'These kinds of extra charges are becoming increasingly common and can be incredibly confusing for customers. Whether it's a 'carbon free' dining fee, an automatic service charge or a sustainability levy, the result is the same; the final bill is higher than expected.' When a fee is discretionary, a customer is 'under no obligation to pay it'. But Jane advises restaurants to focus on 'clarity and choice', and avoid quietly tacking extra costs on at the end of a meal. View More » She adds: 'If a business wants to operate more sustainably, that's a decision they should build into their pricing, not pass the cost directly to unsuspecting customers. During ongoing turbulent times for the hospitality industry, establishments that prioritise transparency, honesty, and trust are far more likely to retain customer loyalty.' Jane explains: 'Any additional charge must be clearly communicated, verbally or in writing, before you place your order. 'Even if a service charge is described as mandatory, you have the right to request removal if the service was poor or the charge wasn't made clear in advance. 'Equally if you were unaware of a 'carbon free' dining fee, you can request for it to be removed from your bill.' Do you have a story to share? Get in touch by emailing MetroLifestyleTeam@ MORE: Wedding guests can sniff an AI speech a mile off — here's how not to get caught out MORE: 8-Course Pan-Indian brunch for just £35: 10 unmissable Time Out deals MORE: We found the best deal in London for National Margarita Day – 2 for 1 margaritas Your free newsletter guide to the best London has on offer, from drinks deals to restaurant reviews.
The Hindu
7 days ago
- Politics
- The Hindu
Several organisations plan mega protest against mining policy in Ballari on Aug. 16
Condemning what they termed as retrograde and dangerous policies on mining by the State and Union governments, various orgnaisations will stage a mega protest in Ballari on August 16. Addressing presspersons in Hubballi on Thursday, president of National Committee for Protection of Natural Resources (NCPNR) and Citizens For Democracy (CFD) S.R. Hiremath said that through the protest they will be demanding effective steps to mitigate the sufferings of the mining-affected people. They will also seek reduction in the annual mining cap to 20 million tonnes. Mr. Hiremath said that the Joint Action Committee of mining-affected people was already formed during a meeting in Ballari on June 1. Subsequently, like-minded orgnaisations, including Janandolan Maha Maitri, CFD and JPJPS (Agitation Committee for revival of the lives of people and environment), conducted jathas in all the four mining-affected districts of Ballari, Vijayanagar, Chitradurga and Tumakuru to sensitise the residents to the common problems affecting their lives due to continued mining and the need to launch a united fight. Before the mega protest on August 16, jathas will be taken to mining-affected villages between August 1 and 4 and district committees for the preparation of the projects will be formed. The organisations will give a call to all like-minded organisations working for the cause of the people to join hands with them for the mega protest, he said. To a query, Mr. Hiremath pointed out that despite the Supreme Court taking a tough stand against indiscriminate mining, both the State and Union governments have managed to get the annual cap for mining increased and now, they wanted to increase it further to 57 million tonnes. However, the former Supreme Court judge B. Sudarshan Reddy, who has been appointed by the Supreme Court as the Oversight Authority for implementation of the Comprehensive Environmental Plan for Mining Impact Zone (CEPMIZ), has recommended reducing it to 20 million tonnes for the four districts. Mr. Hiremath said that the JMM, the CFD and the NCPNR welcome the State government's decision to quash the land acquisition process at Devanahalli. It is a historical win for farmers of Devanahalli and Samyukta Horata-Karnataka which led the agitation. However, the farmers and also the organisations will have to be more vigilant as the war is not yet over. S.A. Mulla of JMM was present.
Khaleej Times
21-07-2025
- Business
- Khaleej Times
Daman Markets launches UAE stock trading with Dirham-based accounts
Bringing local market access and global trading tools to the UAE's booming capital landscape , the premium forex and CFD trading service from Daman Securities, has officially launched access to UAE-listed stocks on the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX). This new feature provides regional traders with access to large, significant Emirati companies such as Emaar, ADNOC, Emirates NBD, Salik, and more. By introducing UAE stocks, Daman Markets becomes one of the few brokers that enables traders to experience global trading while addressing the specific needs of regional traders. Their newest CFD (Contracts for Difference) offering on some of the bookrunners of the UAE allows traders to diversify their portfolios and benefit from the rapid growth of the local market. A key feature of the launch is the introduction of Dirham-based accounts. This allows traders to participate in local markets using the UAE's national currency with zero conversion fees. Operating in the UAE's national currency ultimately enables regional traders to simplify the complexities involved in converting local transactions or assets into items that hold alternative currencies for foreign exchange purposes. Samer Mourched, CEO of Daman Markets, emphasized the significance of the launch. "This launch is about more than simply starting in new markets; it's about opening our doors for traders to opportunities in their background," he said. "As a global broker with roots in the UAE, our goal is to provide traders with access to local markets in their currency, backed by teams deeply immersed in the region. We want to empower traders to trade smarter, closer to home, and with the confidence they deserve." The introduction of UAE stock trading is taking place during a period of rapid growth and global prominence for the UAE's capital markets. With record IPOs and a greater range of international and local investors, the DFM and ADX have become the main drivers of the UAE's regional economy. However, access to these markets is limited, as primarily retail-run traders are looking for localized and competitive trading solutions. Daman Markets provides localised solutions to stock trading, providing a platform that meets regional expectations while maintaining a global trading experience. The company is unique in its approach with dirham-based accounts and local compliance regulation, partnered with support teams that are fluent in the jurisdiction policies and the specific attitudes of the UAE market. This localisation-first approach allows Daman Markets to offer an unparalleled level of service and expertise to the GCC trading community. Daman Markets has been steadily growing since it first launched, with a promise to create a trusted platform for trading tools, educational opportunities, and a simplified trading interface for users. The introduction of UAE stocks is another significant advancement on the path toward building a trading platform that connects regional traders with the country's growing economy. Daman Markets is committed to providing unparalleled value to the regional trading community with an entire suite of innovative trading tools, reliable support, and a trading platform incorporating local knowledge.
CTV News
15-07-2025
- General
- CTV News
No injuries in fire at southeast Calgary building
The Calgary Fire Department was called to a fire in the Foothills Industrial Park at about 9:40 p.m. on July 14, 2025. The Calgary Fire Department is investigating after a late evening fire in the Foothills Industrial Park. At about 9:40 p.m., officials say a fire broke out at 3347 57 Ave. S.E. It was brought under control less than an hour later, but there was heavy smoke damage throughout the building. No one was hurt in the fire. Anyone with information, especially photos and video of the fire before CFD's arrival, is asked to contact piofire@
