Energy business: Npower, E.ON losses
Conventional power generation is in crisis in Germany, and RWE is bearing the brunt of it. The company reported a 137m euro loss at its UK arm Npower, which will lead to the loss of 2,400 jobs.
Germany-based E.ON, one of the UK’s Big Six energy firms, posted annual losses of 7bn euros in 2015.
JP Morgan Chase, one of the world’s largest banks, puts coal investments in developed countries on par with child labour, illegal logging and uncontrolled fire – all activities on its “prohibited transaction” list.
SunEdison has failed to complete its purchase of Vivint Solar – signalling the end of a criticised deal for which Vivint will now seek legal remedy.
A drop in renewables prices are leading more US companies to go green on their own steam.
And Ars Technica has a data-rich piece on 2015’s electricity generation retirements in the US – 80% of which are coal plants.
Hinkley: Rising prices, safety fears, world nuclear
The rising costs of the UK’s Hinkley nuclear power station may see British customers feeling overcharged for energy and may not even be a great deal for EDF – said to be divided over whether the project makes sense.
Already messy UK energy policy could get messier, writes Jeremy Warner in the Telegraph – in part through the recent walkout by CFO Thomas Piquemal at the company, an opponent of the £18bn investment.
And safety concerns raised by the industry regulator could halt the whole scheme – reports Robin Pagnamenta in The Times.
US nominations: Flint debate, Florida climate questions, fracking
The notion of environmental racism, thought to underpin the water crisis in Flint, Michigan – where Democratic presidential candidates HIllary Clinton and Sanders debated last night – was stealthily avoided by both speakers.
A bipartisan group of Florida mayors say it would be “unconscionable” for climate issues to be ignored in questioning prepared for the upcoming debates in the state – uniquely vulnerable to rising waters and hurricanes.
And FT View judges the Democratic candidates proposals to end fracking as “unrealistic”.
Meanwhile US and Canadian leaders Obama and Trudeau have pledged to come together to tackle climate change.
In other news
Climate: When it rains it pours
Sustainability: Why women’s voices need to be heard in business