• World Industry News

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      espadmin
    • RWE trims its earnings target due to new energy regulator

    RWE, the German and Water utility, noted that part of its core domestic market would deteriorate significantly next year due to a new energy regulator. They have noted that earnings from its network grid business would be badly affected by the new electricity and gas regulator from next year and will worsen by 2006. Financial analysts have dismissed such concern as political posturing and noted that new regulator will not dramatically affect on group earnings.  (Source: Financial Times)

    • International investors line up for stake in Turkish steel

    Three of the world’s largest steelmakers are poised to enter an auction for Erdemir, Turkey’s biggest steel producer, in a partial privatisation of the company by the Turkish government.  Mittal Steel, Arcelor and US Steel has all stated that they are keen to obtain a controlling stake in Erdemir, in an auction that will raise more than $1Bn for Ankara.  The three companies are interested in acquiring a large stake on the account of the potentially large rise in steel consumption in Turkey over the next decade, particularly if discussion of membership of European Union will proceed favorably. Erdemir has a production capacity of 3 million tonnes of steel produced last year but is planning to double the capacity in three years. (Source: Financial Times)

    • NUON lines up Certified Emissions Reduction (CER)

    Netherlands utility NUON and AgCert International have announced a transaction of several million tonnes of Certified Emission Reduction (CERs). All the CERs will be delivered to Nuon between 2005 and 2007 the first phase of the EU ETS. NUON will use the CERs to back its EU-ETS compliance and trading needs. With this deal AgCert has positioned itself as one of the largest sellers of CERs in the market. The company has considerable potential to expand, with its CDM Board approved methodology, which reduces both methane and nitrous oxide emissions in the agricultural sector. The company claims that it should be able to produce “tens of million of tonnes of CERs on an annual basis”. AgCert’s current projects are in Brazil and Mexico. (Source: Energy-Directory.com)

    • Saxony takes legal action against Bonn NAP

    The eastern German state of Saxony-Anhalt is planning to file a lawsuit with the federal constitutional court over the country’s implementation of the EU Emissions Trading Scheme (ETS). The state points out since re-unification in 1990, most of its energy intensive industries have considerably reduced their emissions of greenhouse gases, and that this has not been taken into account under the German NAP. The lawsuit is not expected to delay the implementation of the EU ETS. (Source: Energy-Directory.com)

    • Environment ministry reaffirms nuclear phase-out

    The German environment ministry has posted a paper on its website rebutting arguments in favour of nuclear power. The move appears designed to counter any potential weakening of public support for Germany’s ongoing phase-out policy in the face of rising concern over the high world oil price and climate change. The paper argues that a revised nuclear programme would provide neither a cost effective or safe energy source and would reduce the incentive to exploit energy efficiency and develop renewables. (Source: Energy-Directory.com)

    • China opens its emissions book, partly

    China has reported its emissions of greenhouse gases to the United Nations for the first time. Unfortunately, only figures from 1990 or 1994 were available in the official Chinese report. According to Terra Daily, China said it emitted 2.6 billion tonnes of CO2, 34.29 million tonnes of methane and 850,000 tonnes of nitrous oxide. Given the Chinese economy has grown by about 70% since 1994, this provides little guide to emission today. Moreover, China is seen as one of the major contributors to global emission growth over the coming decades, as is expected to overtake the US as the number one emitter sometime around 2020. China does not have any emissions reduction targets under the Kyoto Protocol, but is among the developing countries that are likely to be put under heavy pressure to take on obligations post-2012. (Source: Energy-Directory.com)

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