Utility Week

4 | 10TH - 16TH MAY 2019 | UTILITY WEEK Seven days... Hundreds protest against plans to drill in Great Australian Bight Hundreds of people have gathered on an Adelaide beach to protest against Norwegian energy giant Equinor's plans to drill in the Great Australian Bight. Attending the protest, Greens senator Sarah Hanson-Young said the majority of South Australians don't want any oil drilling in the Great Australian Bight. "We know, in an era of climate change, we just can't afford to be expanding oil drill- ing or coal mines or any other fossil fuels," she said. Equinor wants to drill a well more than 370km off the coast of South Australia. The Guardian, 5 May BP back on track with Thunder Horse project BP has pushed the button on a big investment in the Gulf of Mexico as it continues to draw a line under the Deepwater Horizon disaster there nine years ago, which killed 11 people, caused widespread pollution and cost the company $67 billion. The oil major said it had given the green light to phase two of the Thunder Horse South expan- sion project in the deepwater Gulf of Mexico, boosting production by about 50,000 barrels a day, starting in 2021. The Times, 7 May South Africa signs oil deal in South Sudan South Africa has signed a deal to explore for oil in South Sudan, as part of a potential $1 billion invest- ment that Ezikiel Lol Gatkuoth, the petroleum minister of the war-torn east African country, hopes will eventually help to boost production. The two governments have signed a six-year exploration and production sharing agreement for an untapped block in Jonglei state, just south of the current oil producing areas. Financial Times, 7 May National media Water renationalisation plan would 'devastate pensioners' Water UK's chief executive has responded to leaked Labour plans that reveal a "cut-price raid" on the water industry. According to an article in The Sunday Times, Labour's leader Jeremy Corbyn plans to pay up to £24 billion less than the mar- ket value of water companies to bring the sector back under public ownership. Michael Roberts, chief execu- tive of Water UK, said a "cut- price raid on the water industry would see millions of pension- ers lose out on thousands of pounds". The internal Labour docu- ment, circulated among the party's frontbench members, reveals plans to try to pay a fraction of the market value for the water sector. It is thought that pensioners, employees and shareholders who have funds invested in water companies would lose up to half their value. Responding to the story, Roberts said: "It would be an absolutely devastating blow for millions of pensioners if the water industry was subject to a smash and grab raid by a future government paying well below market value for it. "More than five million pensioners have funds invested in the water industry – includ- ing very many public sector workers – and they would lose thousands of pounds each under these leaked plans. "It's becoming clearer by the day that the financial case for nationalising the water industry doesn't stack up. As well as hurting pensioners, it would land taxpayers with a multi- billion-pound bill, both for the purchase of the industry and the extra £100 billion that needs to be invested in the sector over the next decade." The Sunday Times outlines that Labour's renationalisation blueprint reveals for the first time the scale of Corbyn's plan. It says Labour will pay compen- sation of less than £20 billion for water companies, which at conservative market estimates are valued at £44 billion and anywhere up to £90 billion if debt is included. KP "There are still many misconceptions around switching, including that renters are not allowed to choose their energy supplier…" Energy UK responding to research by auto-switching service Migrate, which highlighted the extent to which those who rent do not make use of the switching process. STORY BY NUMBERS Thumbs- down for energy firms Gas and electricity companies have fallen below other service providers in their standing with consumers, according to a survey by website Energy Switching. 59% of homeowners responded by saying gas and electricity providers were their most disliked suppliers. 71% of those polled reported having regular problems with their energy providers. 65% admitted they did not have faith that suppliers, regardless of industry, would fix a problem. 71% said cheaper pricing was the most important factor when choosing a provider.

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