27.09.16 Chinese nuclear. Possibly Chinese gas – whatever next?

Posted on September 27, 2016
Archive : September 2016
Category : Energy News

Perhaps it's OK to sell the crown jewels, but flogging off the UK's means of generating power and producing heat, as anyone is likely to tell you, is an entirely different matter and probably going to end in tears. According to the FT the Chinese state-owned China Resources Gas, along with its Australian and Singaporean partners, is all set to make a bid for 51% of National Grid's gas distribution division valued at around £11 billion. GMB, the energy workers' union is naturally not very happy – join the club. They rightly argue that gas distribution is critical to the success of our economy and that it shouldn't be regarded as a cash cow to be flogged off to the highest bidder, whether they're foreign or not. They also argue that such a sale should be subject to the same scrutiny as Hinkley Point. And let's not forget too that 43% of our gas comes from Norway and the EU (source: British Gas) with a further 9% coming from our best friends the Russians (source: Reuters). At The Stove Yard, we would argue that you don't have to be an energy expert to recognise that investing in a new wood burner today could help future-proof your home heating source – and it won't cost you £11 billion.

Source: Utility Week – to read the complete story please click here

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