The Council of European Energy Regulators (CEER), ENTSO-E and seven other European energy associations have issued a joint statement on how to prevent Value Added Tax (VAT) fraud in the gas and electricity sector today. It is a plea for stronger cooperation and more pro-active support from policy makers, law-enforcement agencies, tax investigators and financial intelligence units "to join our efforts to mitigate the threat of VAT-fraud".
David Cameron, the UK Prime Minister, has highlighted the vital role of natural gas for the British economy today, in a statement timed to coincide with a new gas supply contract between Centrica and Statoil over 5 Bcm/year in the period between 2015 and 2025.
"Today's agreement will help to ensure the continued security and competitiveness of gas supplies to Britain, from a trusted and reliable neighbour," UK Prime Minister David Cameron said.
Germany's E.ON and the Russian gas incumbent Gazprom are at loggerheads over the terms of gas supply. Arbitration proceeding on contract terms of oil-indexed long-term gas supply are still ongoing. "We can confirm that we have instituted arbitration proceedings in connection with our supply relationship with Gazprom," E.ON spokesman Sebastian Heindrichs told Gas-to-Power Journal.
The World Energy Council (WEC) has published its 2011 assessment of country energy and climate policies, including the annual global "Energy Sustainability Index". WEC urges policymakers to address the "Energy Trilemma" – a triple whammy of Energy Security, Social Equity and Environmental Impact Mitigation.
India is at the brink of a sever electricity energy shortage. 49 of the 82 thermal power stations monitored have less than seven days of stocks left and were classed by India's Central Electricity Authority (CEA) as "critical". 38 plant were classified as "super critical" because they have less than four days of stocks remaining, according to CEA data.
RWE, Germany's second largest power company, said it is "resolutely implementing" the measures announced in August this year. By early September RWE had already divested its 74.9% shareholding in German transmission system operator Amprion.
The Essen-based company on Thursday posted its Q3 results, with 2011 operational profit is forecast to fall about 25 percent.