Alan Hibben’s Post

You will want to record this for your children. https://lnkd.in/eDGkfYzJ

OMG, if only we would abandon an “industrial strategy”. But no UK government can avoid tinkering with things they know nothing about. Reduce regulation to its very limit, reduce wacky religious rules around “net zero” (sic), neuter the local planning folks, reduce income taxes if you can. Then get out of the way.

https://lnkd.in/en-F2Ejd I wish that journalists would stop publishing the Levelized Cost of Energy as if it meant something. It is meaningless in the context of assessing the cost to ratepayers of the power that is provided. Even the IEA at IEA WEO 2022 advised against its continuing use. Full Cost of Energy (FCOE) (with thanks to Lars Schernikau and @William Hayden Smith) comparisons would have to take account of : 1. Differential costs of transmission and balancing of various renewable generation sources to the end consumers. 2. Cost of building plus reclamation reserves 3. Cost of storage for intermittent sources (pumped hydro, batteries, hydrogen etc.) Full cost of storage would include building, operation, recycling etc. 4. Cost of backup to comparable non-renewable availability standards including gas plants, storage not covered above 5. Land space (sea transportation routes for offshore) including land taken out of use for additional transmission facilities Obviously in addition to the above (and avoiding double counting) the payments to offshore wind proponents that are not related to energy production (such as the terms of the contracts for difference (CfD) and the implicit subsidy by taxpayers) have to be taken into account in various regulatory regimes.

Just finished this book. https://lnkd.in/e5Cpq4zF He is very thoughtful about the math, physics and economics of the net zero legislation in the UK and very quietly scathing. I agree with most of his analysis, but I think he lets off solar and wind to some extent due to the marginal costs of extra transmission resources required to bring production closer to consumption. I have also written about one of his primary themes, that is, you can’t control carbon budgets by production geographies without externalities making a country poorer (exporting its carbon problem). Required reading for those ( in the recent words of Capx ) who do not believe that rainbows and tantric chanting will solve energy problems.

In case you were wondering, this type of thinking is not a bug, it is a FEATURE of the climate change “movement”. https://lnkd.in/ejptnQy4

Today marks the end of very fulfilling journey for me as a Board member of Home Capital Group Inc. . I joined the Board in May 2017, alongside many hard-working and courageous colleagues who I've had the pleasure of working with over the years. Under the leadership of CEO Yousry Bissada and his executive team, the company underwent a cultural transformation, refinancing and restructuring to significant success and consistent profitability and ROE. The previously announced sale of Home Capital Group to Smith Financial Corporation closed today at $44.28 per share - a stark contrast to the $5.85 per share that it traded at back in the darker days of May 2017. I extend my deepest gratitude to everyone involved with the company over the years, including all members of the current Board and our CEO and his full management team. Special thanks are also due to past Board members Claude Lamoureux and Paul Derksen, who both played pivotal roles in re-setting the culture of the Board and the organization. To all the management members, I appreciate your efforts and contributions to the company's success. I wish you good luck and continued success under Stephen Smith's ownership. Congratulations to Smith Financial Corporation and Stephen Smith on his new role as owner - I have no doubt he will continue to drive Home Capital Group's success. #homecapitalgroup #smithfinancialcorporation #hometrust