French State owned Energy Co. announce huge price hike for 5.5 Mn. UK energy consumers from Saturday and nuclear / solar / wave power projects

Lord King Speech at the Mansion House 16th June 2007...

"Our central view remains that inflation will fall back this year as the rises in domestic gas and electricity prices last year drop out of the annual comparison, and the recent cuts in prices feed through to household bills."

5.5 million account holders in the UK of EDF Energy have announced this afternoon (hot on the heels of German owned npower massive price rises last week ) gas prices by 12.9% and electricity by 7.9% from Friday due to "soaring" wholesale energy costs, higher distribution costs and increased environmental obligations.


Vincent de Rivaz, Chief Executive, of French state owned EDF Energy,( see website) said last week :

“After a thorough consultation, we welcome the Government’s positive decision on new nuclear as the right choice at the right time for the country.....This will be a UK project delivered with British skills and companies. This will be a UK project for energy users in this country."

If you want more information about their plans to build 4 new nuclear power stations you can contact Andrew Brown (Bro. of Gordon Brown - currently Prime Minister) on 0207 752 2268

Renewable Energy Holdings, said yesterday that it had reached agreement with EDF Energies Nouvelles that will allow the French company to use REH's proprietary CETO wave power technology in the Northern hemisphere and at Reunion Island in the Indian Ocean. EDF has invested £3m in the project.

EDF have also announced an agreement with the Government of Qatar on the use of civil nuclear power and the development of renewable energy sources, with particular reference to solar energy, through their subsidiary, EDF Energies Nouvelles.In the gas sector, EDF and Qatar Petroleum International (QPI) envisage, in particular, the acquisition of joint interests in gas projects in Europe.

EDF already have dealings with Qatar primarily through two of their subsidiaries : Edison in Italy, the Group's primary gas entity and EDF Trading, a trading subsidiary based in London.

Yingli Green Energy Holding Co. Baoding, China (IPO'd 6/7/07 (YPE) Offer Price $11.00 Price today $34.23 211% growth since IPO - 2,600 employees IPO run by Sacks of Gold) one of the largest vertically integrated manufacturers of Photo Voltaic (PV) products in China announced yesterday agreement to supply solar-power systems with 7 megawatts worth of generating capacity to EDF Energies Nouvelles ( and an option for 6Mw more) for delivery this year.

See Guradian BBC - "add just under £2 a week to the typical dual fuel bill. " Times Sky - "Energyhelpline.com earlier forecast the UK's other five major suppliers would increase prices by around 15% in the next two months." Telegraph - "average dual fuel bill will rise by almost £100 to £965" for stories on power price rises

In case you missed what Lord King said after consulting his double first graduates and brains at Threadneedle Street in June :

"Our central view remains that inflation will fall back this year as the rises in domestic gas and electricity prices last year drop out of the annual comparison, and the recent cuts in prices feed through to household bills."

He went on to add .."Institutions outlast us all. Over time, they are adapted as we learn the lessons of the past in the light of a changing present to meet our future needs."

There isn't the slightest evidence that King and his fellow wankers have learnt anything ... either in forecasting inflation or handling "New and ever more complex finacial instruments create different risks" which he also referred to in his lamentable speech." viz Northern Wreck and the catastrophic inactivity and incompetence of he and his colleagues in the Treasury.