Top 4 stories
1) UK: Ed Miliband could cost energy giants billions, as think tank calls for CCS
A Labour party victory in May’s general election would wipe up to £10 billion off the combined value of Centrica and SSE, according to a Deutsche Bank analysis via The Times.
The bank has reportedly advised clients to sell Centrica shares, which could plummet by up to 41% if Ed Miliband enters Downing Street intent on introducing an extended energy price freeze.
Meanwhile, The Independent says a million British homes are set to be heated by low-carbon river-sourced heat pumps, and Business Green covers a Green Alliance reports that loudly calls for CCS deployment.
The government has also given the Green Investment Bank £200 million for clean energy projects in Africa and India, reports Business Green.
And, following on from yesterday’s Longannet leader, the chief executive of Scottish Renewables has criticised the ‘ludicrous’ closure of the coal-fired power plant,reports The Times.
2) Around the world: Biggest polluters to miss UN climate deadline
In less than a week countries all around the world are supposed to have submitted carbon emissions pledges ahead of the Paris COP.
According to Bloomberg, the US intends to meet that deadline but it appears unlikely that the rest of the world’s major economies like China, India and Australia will not.
The EU (and Switzerland) are the only ones to have pledged so far.
A little news from The Guardian: Australia’s renewable energy sector is trying hard to broker a deal between the Abbott government and the Labor party.
3) US: Climate change the hot topic in Presidential politics
Notorious contrarian and climate-change denier Ted Cruz this week became the first formal candidate for the US presidency, and he’s come under fire mostly for said climate change denying.
Earlier in the week Florida Governor Jerry Brown said Cruz was ‘unfit for office’ because he distorts scientific data, to which the Texas Senator called him a ‘global warming alarmist’, reports Climate Progress.
Today, Bloomberg reports, that Cruz has referred to himself as ‘Galilleo’ and climate scientists ‘flat-earthers’.
Even his own party thinks he might be taking the climate change stance a bit far,with party elder Lindsey Graham criticising Republicans for inaction on global warming.
It appears as though it may be a climate-change presidential election, but the Washington Post says this means Obama’s environmental legacy is the one at greatest risk of becoming undone.
4) Fracking: Shale industry wants a new regulator
The Task Force on Shale Gas has called for a new regulator, arguing that the current set-up is overly complex, reports the BBC.
The task force, which is funded by the shale gas sector, wants this top of the agenda after the May election, but DECC said it’s already the job of the Health and Safety Executive and the Environment Agency.
And as shale continues to struggle outside the US, Quartz asks: ‘Whatever happened to the great European fracking boom?’
Russia: Jordan has signed a $10 billion agreement with state energy company Rosatum that will see the construction of its first ever nuclear power plant.