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2016-07-14 19:01:00

BRITAIN'S RENEWABLE: 15%

BRITAIN'S RENEWABLE: 15%

REUTERS - Britain is on track to meet its 2020 European renewable energy target and its commitment will not be affected by the country's vote to leave the EU, government officials said. 

Britain has a target to meet 15 percent of its energy needs from renewable sources by 2020, but had achieved just over 8 percent by the end of 2015.

The country's power grid operator, National Grid, said last week that the target won't be reached until 2022 at the earliest, but Andrew Jones, parliamentary under secretary of state at the Department for Transport, said on Wednesday he was confident the goal would be reached on time.

"We have a target for 2020 and we think we are going to meet it," Jones told a cross-party group of lawmakers.

The target is a legally binding commitment set by the European Commission.

Britain could be fined by the European Commission if it misses the target.

Its electricity sector is on course to meet its expected contribution to the target but energy used in transport and for heating homes and buildings is well behind what is needed.

There is a sub-target for 10 percent of energy used in transport to be from renewable sources by 2020, but this stood at just 4.1 percent last year.

Jones said progress was being made on increasing the amount of renewable biofuels used in transport and this would grow rapidly over the next few years.

Ministers also said targets would remain intact even though Britain was leaving the EU, a move that is expected to take a few years to negotiate.

"We are as a department and government working towards the 2020 target as something we intend to honour," said Nicholas Bourne, parliamentary under secretary of state for the Department of Energy and Climate Change.

"We are working on the basis these (targets) remain relevant and binding on the United Kingdom," he said.

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Earlier:

ASIAN GROWTH IS GLOBAL 

SAUDI'S RENEWABLE: 9.5 GW 

UPSTREAM INVESTMENTS DOWN 20% 

GAS COMPETITION 

RENEWABLE ENERGY: GROWING RISKS

 

 

Tags: BRITAIN, RENEWABLE, ENERGY

Chronicle:

BRITAIN'S RENEWABLE: 15%
2018, July, 23, 13:25:00

GLOBAL ENERGY INVESTMENT DOWN 2%

IEA - For the third consecutive year, global energy investment declined, to USD 1.8 trillion (United States dollars) in 2017 – a fall of 2% in real terms. The power generation sector accounted for most of this decline, due to fewer additions of coal, hydro and nuclear power capacity, which more than offset increased investment in solar photovoltaics.

BRITAIN'S RENEWABLE: 15%
2018, July, 23, 13:25:00

U.S. OIL PRODUCTION + 143 TBD, GAS PRODUCTION + 1,066 MCFD

EIA - Crude oil production from the major US onshore regions is forecast to increase 143,000 b/d month-over-month in July from 7,327 to 7,470 thousand barrels/day , gas production to increase 1,066 million cubic feet/day from 69,466 to 70,532 million cubic feet/day .

BRITAIN'S RENEWABLE: 15%
2018, July, 23, 13:20:00

U.S. INDUSTRIAL PRODUCTION UP 0.6%

U.S. FRB - Industrial production rose 0.6 percent in June after declining 0.5 percent in May. For the second quarter as a whole, industrial production advanced at an annual rate of 6.0 percent, its third consecutive quarterly increase. Manufacturing output moved up 0.8 percent in June.

BRITAIN'S RENEWABLE: 15%
2018, July, 23, 13:15:00

U.S. INVESTMENT $69.9 BLN

U.S. DT - The sum total in May of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $69.9 billion. Of this, net foreign private inflows were $58.8 billion, and net foreign official inflows were $11.1 billion.

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