The Morning Briefing: Energy and electricity
"The Morning Briefing" is SmartPlanet's daily roundup of must-reads from the web. This morning we're reading about the energy and electricity industries.
1.) EDF Energy pays millions in restitution after 'misleading customers'. After an investigation conducted by the regulating body Ofgem, EDF has been ordered to pay customers approximately £50 ($79) each after being found guilty of breaching marketing license condition. Salesmen at EDF reportedly did not offer 'full information' when contacting potential customers over the phone or door-by-door.
2.) Japan's nuclear energy industry close to complete shut down. Since the nuclear disaster a year ago, all but two of Japan's commercial reactors, 54 in total, are offline. The last reactors are scheduled to be taken offline for maintenance next month, which will temporarily close down an industry that once generated a third of Japan's electricity requirements.
3.) The Booms and Busts of the electric power industry. As market cycles and a volatile, unstable economy drive the electric power industry, 'boom and bust' cycles are key to supply, demand, and investment efforts.
4.) Canadian Energy Services Q4 profit rises. Canadian Energy Services & Technology Corp's CEU.TO quarterly profit rose by more than 50 percent. The company is currently drilling deeper and longer horizontal wells in unconventional fields.
5.) EV Energy partners intend $100 million offering of senior notes. EV Energy Partners LP announced Thursday that it intends to publicly offer an additional $100 million in aggregate principal amount of their 8.0% senior notes due 2019.
Bonus: ExxonMobil making massive energy investment
Image credit: Johan Larsson
This post was originally published on Smartplanet.com