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Some cool British Gas images:

hwy16_07f49 Purden Lake Fire Truck, Highway BC 2007


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Sae Will We Yet

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by GAAP Studio

Gas Suppliers Stockpile Consumers Cash

Have you checked your gas bill against your direct debit recently? According to research by moneysupermarket.com, gas suppliers are estimated to be stockpiling £490m of their customers’ money due to the delays in adjusting payment amounts for direct debit customers. Suppliers are believed to be only checking systems every six months, leading the way to an overpayment in excess of £100, as found in one of eight of the 2407 research participants.

Mish Tullar, Director of media relations at British Gas was quick to reject these findings, saying: “We are not sitting on a big cash windfall”, continuing to point out that their customers were on average £60 in debit and not overpaying.

Many people within the industry believe that whilst suppliers such as British Gas are offering cheap gas, they are too slow in reacting to the changes when it comes to customer payments. Particularly Powergen, who on average had the most cash “on float” at around £78 per household.

A new argument that is emerging is that of winter payments, when accounts are most likely to be in debit. This means a solution is needed to ensure good cash flow for suppliers, whilst recovering this debt from its customers. By placing the £490m in a typical business bank account, gas companies are likely to be earning £24.5m of revenue per annum.

So what can be done to ensure you don’t continue to give even more money away? Contact your supplier and discuss your current tariff and average bills. They should be able to give you this information over the phone and come up with a satisfactory amount for direct debit.

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The green-energy landscape keeps changing
Which technologies will usher in America’s next energy era? It turns out that every energy alternative has its pluses and its minuses, just as oil, coal and natural gas do.
Read more on MSNBC

HOPEWELL BOROUGH: Three service stations undergo changes
Area residents looking to “fill up” at the former Leigh’s Citgo station on Princeton Avenue in Hopewell Borough won’t have to wait much longer for the return of a full-service gas station.
Read more on Hopewell Valley News

British Officers Charged in Attack on Terror Suspect
The four British officers arrested Babar Ahmad in December 2003; Mr. Ahmad is now wanted in the United States on charges of running militant Islamic Web sites.
Read more on New York Times

by rofanator

Pressure on Govt on Gas Pricing

More trouble is brewing for the next round of exploration acreage auction, with more companies and investment bankers expressing nervousness over political pressure on the government to renege on contractual commitment to allow market-pricing of oil/gas from new finds.

The latest to join the chorus on the issue is British major BP (formerly British Petroleum). The TOI had on July 10 first reported that Chevron, Niko, BG (British Gas) and Hardy had written to the government expressing apprehensions over the government reneging on the terms of contracts due to political interference. Such views among global majors will hit efforts to attract investments during the coming auction.

In a letter to oil minister Murli Deora, BP’s India head Ashok K Jhawar says, “Were the government to consider the reintroduction of some form of administered pricing for natural gas, we would be concerned since, as a long-term investor in India, of primary importance to us is fiscal stability for the life of our contract”.

“Subsidies in energy pricing should come at the consumer end, not at the exploration end, otherwise experience shows that countries which set an unrealistic well head price of gas suffer from lack of exploration and development since investment tend to flow to higher-price locations.”

Even investment bankers are getting jittery over demands from Andhra CM YSR Reddy and state-owned entities that will require the government to renege on contractual commitments. ” Investor nervousness increases when government arms like NTPC and a chief minister, who is from the same party ruling the Centre, challenge existing law and policies,” a Singapore-based investment banker said on condition of anonymity.

Though oil/gas is a Central subject, Reddy has rejected market-pricing for gas from Reliance Industries’ find off his state’s shores and is pressuring the PM for preferential pricing and first right of use. NTPC, which has dragged Reliance to court on the liability clause of a gas sale agreement, is also asking the government to take its share of profit in kind. A panel of secretaries is now grappling to form a gas pricing policy, which could undo the benefits of auctioning acreages.

“Investors are not worried about court battles. But when ruling party voices oppose a policy (acreage auction) that had been put in place by Parliament and received wide support from parties that rule today as well as those in the opposition, it signals a politically risky situation to be pumping money,” the investment banker said.

Crude trading starts below
NEW YORK, Aug. 16 (UPI) — Trading for light, sweet crude oil began below the mark Monday on the New York Mercantile Exchange. New York Mercantile Exchange – NEW YORK – Sweet crude oil – Business – Investing
Read more on UPI

Crude Trading Starts Below
Trading for light, sweet crude oil began below the mark Monday on the New York Mercantile Exchange. Early morning trading indicated the commodity was trading up 0.37 cents, at .56.
Read more on OfficialWire

British Columbia premier lauds California climate initiatives
California’s leadership role in global climate change initiatives has spurred innovation throughout the western United States and Canada, according to British Columbia’s Premier Gordon Campbell.
Read more on The Sacramento Bee

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Society of British Gas Industries: The First Century 1905-2005

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