E.ON in talks to sell UK power unit
LONDON, ENGLAND - German utility E.ON AG is in advanced talks to sell its British electricity distribution network to a consortium of foreign investors for up to 3.5 billion pounds, the Sunday Times reports citing people familiar with the matter.
The paper says the consortium, which it says approached E.ON, comprises the Abu Dhabi Investment Authority, Canada Pension Plan and Macquarie Bank.
The electricity distribution unit is made up of the former Midlands and East Midlands electricity companies and provides power to more than 5 million homes in central England, the paper says.
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Britain Goes Full Week Without Coal Power
LONDON - For the first time in a century, Britain weaned itself off of coal consumption for an entire week.
Reuters reported that Britain went seven days without relying on any power generated by coal-powered stations.
The accomplishment is symbolic of a shift to more clean energy sources; Britain was home to the first coal-powered plant back in the 1880s.
Today, Britain has some aggressive plans in place to completely eliminate its coal power generation permanently by 2025. In addition, Britain aims to cut its total greenhouse gas emissions by 80 percent from 1990 levels within the next 30 years.
Natural gas was the…
