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Industry News
New 'Gold Rush' on Lithium to Satisfy EV Battery Market

Consumer electronics and electric vehicles depend on it for their power supply, but the supply of lithium itself is a limited resource. Ramping up a mine to full production takes time as deposits are discovered and exploited.

The public's lust for devices and technology, however, shows little signs of slowing which could contribute to a price-hike of the commodity in the short term.

OPEC is signalling resistance to further cuts for the time being and may decide to keep production stable adding to the downward pressure on oil prices.

The increased demand for lithium is also having an effect on communities previously untouched by the commodities bubbles, presenting new business and mining opportunities.

The strong demand for lithium has brought mining to remote communities in some of the poorest regions in the world, which are set to benefit from this new white gold fever.

UK Prepayment Electricity Customers to See Lower Cap on Utility Bills, Oct. 1

Starting October 1, up to three million UK households dependent on prepayment metering solutions for their electricity supply will face a lower cap on the maximum amount that can be charged for a given quantity of electricity.

This policy is in line with a scheme implemented by OFGEM on the advice of the Competition and Markets Authority (CMA) to better reglate energy tariffs for those customers who do not have access to switch providers.

Prepayment utility metering is commonly used in situations where the customer is denied a credit for utility due to late or non-payment as well as to encourage debt repayment to utilities. Affecting over three million households in the UK, this price cap or "safeguard tariff" helps ensure competitiveness for all consumers.

It should be noted, however, that this applies generally to those with older meters installed, and that by 2020 the UK envisions the completion of the smart meter follout for utilities, nullifying the need for this price cap and safeguard.

News Headlines
  • Russia could be set to benefit with Saudi Arabia reportedly cutting oil supplies to Asia - CNBC
  • Chevron, Total Pull All Foreign Staff in Venezuela - Bloomberg
  • British Government Launches Review to Cut Long-Term Energy Costs - Reuters
  • South Carolina Seeks Ways to Salvage Nuclear Project - The Wall Street Journal
  • Volkswagen Executive Pleads Guilty in Diesel Emissions Case - The New York Times
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