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The Independent
12 hours ago
- Entertainment
- The Independent
So the Bank of England wants ideas for new banknotes: let's start with our war heroes
My initial response to the news that the Bank of England wants to redesign our banknotes was to wonder whether Threadneedle Street's pointy heads had really thought this through. Whatever they come up with is all but guaranteed to offend someone, and that's before you factor in social media to contend with. The latter is populated by armies of people who spend their lives getting offended. They come from the left, and they come from the right, and history tells us that it is remarkably easy to get on the wrong side of all of them. Mercifully, such joyless scolds are somewhat out of step with the British public. Large parts of it have a cheerfully irreverent sense of humour, which can also create problems for officials. Remember Boaty McBoatface? In 2016, the National Environment Research Council decided that it would be a good idea to conduct a public poll to decide the name of its shiny new polar research vessel. Boaty was one of the ideas, and it rapidly went viral, easily winning the poll. Cue red faces all around and a nasty dilemma. They solved it by choosing to name the vessel the Sir David Attenborough, who is popular with the public, even though his name picked up barely a tenth of the votes Boaty received. The latter's moniker was given to one of the ship's subs. A nice compromise, I suppose, but if it had been down to me, Boaty would have been the choice. You can see what's coming: step forward, Notey McNoteface. Let's face it, the world's not in a great state, the economy's spluttering, we have an incompetent government, no good choices when it comes to alternatives and it's too damn hot. We could all do with a diversion. Notey could give us a good laugh during the dog days of summer. However, we also kicked around some more sensible ideas. What we came up with was a series of banknotes featuring lesser-known war heroes. My own favourite, being a man with legs that don't work properly, was Sir Douglas Bader, a Second World War flying ace, even though he lost the lower part of both legs while attempting aerobatics in 1931. Sir Douglas didn't let this stop him from becoming a heroic flyer until he was shot down over occupied France. There, he was involved in numerous escape attempts, for which he ended up getting sent to Castle Colditz. Disabled Britons who aren't Paralympians or Professor Stephen Hawking rarely get much recognition. This would help to correct that. A fine choice to join Sir Douglas would be the First World War's first and only female soldier, Dorothy Lawrence, a reporter who had to disguise herself as a man to get to the front. Illness forced her to give herself up, and she was promptly arrested. Her conduct was a very British mix of heroism and subversiveness. Then there is Sir Nicholas Winton, the stockbroker who helped rescue 669 Jewish children from Czechoslovakia on the eve of the Second World War. His humanitarian achievements were barely known until an appearance on the BBC's That's Life in the 1980s. You could make a platoon of deserving Gurkhas who have won the Victoria Cross. So, how about a design featuring several of them? Billy Strachan, a Jamaican pilot who fought for Britain in the Second World War, joined Windrush after being demobbed and became a lawyer in the UK. He was also a human rights activist who fought for workers and universal suffrage and against colonialism. He might represent a step too far for the Bank because he was also a committed communist. But I'd vote for him, given the option. Simon Weston, who survived severe burns during the Falklands War, is better known than some of these but is nonetheless deserving of celebration. He subsequently became a formidable charity fundraiser and campaigner for better treatment of troops and veterans. He became a thorn in the side of the Blair government during the Iraq War, too. Yes, we're going with people again here. But so what? For those who sneer at my list because, yes, it is inclusive, I would kindly suggest you eat grass. Alternatively, try reading the stories of the people I've nominated. There is no tokenism here. To the contrary. What researching this revealed to me is that Britain has an awful lot of mightily impressive war heroes who could do with a leg up (with apologies to Sir Douglas) in terms of recognition. Just think of the designs that you could come up with to celebrate these individuals. I still like the idea of annoying the Bank of England and the political class by giving Notey McNoteface a push, but I think some very worthy candidates on my list would also irritate Threadneedle Street and maybe even Downing Street if they picked up momentum. As it is, they'll probably go for something inoffensive and dull. Pictures of buildings or bunnies and suchlike are already being mooted. Enough already. It's people who use banknotes. The people I've suggested should be celebrated.
The Star
2 days ago
- Business
- The Star
EEX to replace GET Baltic as gas exchange operator in Lithuania
VILNIUS, June 30 (Xinhua) -- Germany's European Energy Exchange (EEX) is set to replace GET Baltic, a gas exchange operator serving the Baltic states and Finland, starting in September, the National Energy Regulatory Council (NERC) of Lithuania said on Monday. NERC approved EEX to operate as an exchange operator in Lithuania last week, according to the Baltic News Service (BNS). "EEX replacing GET Baltic will broaden the range of market participants and the new products will enhance liquidity, price transparency and predictability in all countries," Karolis Janusevicius, a member of NERC, said in a statement. Amber Grid, Lithuania's gas transmission system operator, sold a 66 percent stake in its subsidiary GET Baltic to the EEX exchange for 6.5 million euros (7.64 million U.S. dollars) in 2023. Until now, gas in the Baltic states and Finland has been traded via GET Baltic, with 66 percent owned by EEX and the remaining 34 percent held by Amber Grid. (1 euro = 1.18 U.S. dollar)
CNET
25-06-2025
- Climate
- CNET
Heat Domes and Surging Grid Demand Threaten US Power Grids with Blackouts
Key takeaways: The National Weather Service issues an extreme heat warning affecting almost 150 million people across the US. Heat domes are to blame. Parts of the US -- including the Midwest, New England and Texas-Louisiana -- face blackout risks during high-demand periods like summer heat waves. Electricity demand is a primary challenge across the US due to factors like new data centers, electrification and industrial activity. Regional grid risks vary: The Midwest faces plant retirements, the Southwest struggles with extreme heat, Texas has solar reliability concerns and New England has low energy reserves. Experts recommend preparing for a blackout by making a plan, stocking up on supplies, signing up for utility alerts and exploring backup power options. The National Weather Service issued an extreme heat warning impacting nearly 150 million people across the US. A heat dome phenomenon is named as the primary cause, weather reports say. This increased demand for cooling is pushing electricity grids to their limits. The latest NERC report highlights several North American regions at risk of grid reliability issues, largely due to insufficient energy supply during above-average demand periods, such as heat waves that drive up AC use. Power outages aren't something most people think about until they happen. And when they do, they can be an extreme inconvenience or even unsafe -- especially when you're trying to cool your home during the hot summer months. For folks that work from home, the risk of getting knocked offline can also be a serious concern. Can solar panels save you money? Interested in understanding the impact solar can have on your home? Enter some basic information below, and we'll instantly provide a free estimate of your energy savings. No lenders found matching this criteria It looks like we couldn't find any lenders that matched the provided criteria. Please try again at a later time. Close Power outages, blackouts or brownouts can happen anywhere. But you're more at risk if you live in one of the areas facing an elevated risk of energy shortages this summer, according to the latest seasonal grid reliability assessment from the North American Electric Reliability Corporation. The latest NERC report warns that several North American regions could face grid reliability issues due to limited energy supply during high-demand periods, such as heat waves that spike AC use. NERC This year's summer grid outlook has shifted since last year, with larger swaths of the Midwest and central US falling under an elevated risk of energy shortage and blackouts during extreme heat events. Meanwhile California, Arizona and New Mexico are no longer at higher risk like they were last year. NERC's 2025 report says much of the Midwest and central US, New England and the region from Texas to Louisiana are at risk during higher-than-normal peak demand. Saskatchewan in Canada has a higher risk as well. The latest NERC reports suggest new resource additions like solar and battery storage are helping to meet surging load growth. NERC According to NERC's 2025 Summer Reliability Assessment, aggregated peak demand is forecast to increase across all 23 assessment areas by 10 GW. New data centers, electrification and industrial activity are contributing to higher demand forecasts, per the report. NERC The chances of blackouts in your area This year's higher-risk regions are slightly different from last year's report. Some regions have fallen off the high-risk map, while others have been added because they are struggling with increased demand and not enough supply. Considering Solar Panels? Our email course will walk you through how to go solar By signing up, you confirm you are 16+, will receive newsletters and promotional content and agree to our Terms of Use and acknowledge the data practices in our Privacy Policy . You may unsubscribe at any time. "While the grid faces several challenges this summer, areas such as Texas, California, and across the US West have seen an influx of battery energy storage systems in recent years, which is reducing energy shortfalls associated with supply variability and demand spikes," said Mark Olson, NERC's manager of Reliability Assessments, in a statement. Skyrocketing electricity demand, however, is the primary challenge across the US this summer. "Peak demand is forecast to increase across all 23 assessment areas by 10 GW -- more than double the increase from 2023 to 2024," according to NERC. This is thanks to new data centers, electrification, and industrial activity. Considering Solar Panels? Our email course will walk you through how to go solar By signing up, you confirm you are 16+, will receive newsletters and promotional content and agree to our Terms of Use and acknowledge the data practices in our Privacy Policy . You may unsubscribe at any time. The grid is at risk for different reasons in different places, NERC reports. In the Midwest, the retirement of older power plants could create a shortfall during periods of peak demand. In parts of the Southwest, high heat drives demand while at the same time forcing some power generation offline. In Texas, solar resources could create vulnerabilities when demand is high but generation is low. And New England has fewer power reserves going into this summer, while demand is expected to rise with high temperatures. Power outages have been more common in recent years, though they're down from their peak in 2020. In 2022, the most recent year with available data, the average American household had its electricity supply interrupted for five and a half hours, according to the Energy Information Administration. Over half of that time was due to "major events," typically extreme weather. NERC's report focuses on the risk of demand outstripping the power supply. Air conditioning can represent major demand on the grid, and the need for AC is only increasing. 2024 was the hottest year on record, according to NASA, which recorded 15 consecutive months of record-high temperatures. 2025 is not expected to be quite as warm as 2024, but will probably land pretty close to the all-time heat records. Climate change is the widely accepted reason for our warming planet -- fueled by the burning of fossil fuels for energy. But experts say there are ways we can prepare. How to prepare for blackouts, power outages or a heat wave If you live in a high-risk area or a region prone to severe weather or natural disasters like wildfires or hurricanes, preparing for a blackout is a smart move. Here's how.
Al Jazeera
24-06-2025
- Al Jazeera
Heatwave poses risks to US power grid
The heatwave currently blanketing two-thirds of the United States with record-setting temperatures is straining the nation's power system. On Monday, Con Edison, New York City's power provider, urged residents to conserve electricity. It reduced power voltage to the borough of Brooklyn by 8 percent as it made repairs; it did the same to areas in the boroughs of Staten Island and Queens yesterday. Thousands also lost power as the grid could not handle the strain. Comparable outages have been felt around much of the East Coast and Midwest including in the states of Virginia and New Jersey. In Philadelphia and Cleveland, power went out for thousands of customers after severe thunderstorms late last week, and has yet to be restored as the region faces high temperatures. The national railroad corporation Amtrak reported delays on Tuesday due to speed restrictions caused by the heat on routes that went through Washington, Philadelphia and New York. Power grid woes This heatwave is bringing attention to the vulnerability of the power infrastructure in the US. In the latest annual assessment from the North American Electric Reliability Corporation (NERC), large parts of the US have insufficient power reserves to operate in 'above-normal conditions', including parts of the Midwest, Texas, New England and southern California. Heat-related power grid strains have surged in recent years. According to a report from Climate Central released last year, there have been 60 percent more heat-related power outages between 2014-2023 than in the 10 years prior. This comes amid new but growing pressures on the US power grid, including the prevalence of artificial intelligence data centres and the energy needed to power them. In 2022, in northern Virginia, Dominion Energy warned that data centres there used up so much energy that it might be unable to keep up with surging demand. For AI data centres, that strain is only set to get more pressing as generative AI booms. It is expected that AI server farms' power demand will increase to 12 percent by 2030. There are also more immediate concerns of a cyberthreat from Iranian-backed 'hacktivists', which could target the US power grid at a vulnerable moment to avenge the recent US attack on Iran's nuclear sites, CNN reported. The US power grid cyberthreat sharing centre has been monitoring the dark web for threats, it said, as the Department of Homeland Security issued a warning on Sunday about potential cyberattacks. 'Both hacktivists and Iranian government-affiliated actors routinely target poorly secured US networks and Internet-connected devices for disruptive cyber attacks,' the advisory said. In 2023, Iran-linked hacktivists targeted a water authority in Pennsylvania with minimal success. In 2024, US authorities discovered that Iran-associated hackers were behind cyberattacks on US healthcare facilities. Power grids are particularly at risk, according to a 2024 report by the North American Electric Reliability Corporation (NERC), which said that there are as many as 23,000 to 24,000 susceptible points in the US power grid systems that could be vulnerable to cyberattacks.
Yahoo
24-06-2025
- Business
- Yahoo
Which Power Grids—and Utilities Stocks—Can Beat the Heat This Summer?
U.S. power grids face their first major test of the summer this week as a heat wave brought extreme temperatures and humidity to much of the country. The U.S. is expected to demand 10 gigawatts (GW) more electricity this summer compared with last year, more than double the increase between 2023 and 2024, according to the North American Electric Reliability Corporation's (NERC) 2025 Summer Reliability Assessment. For the most part, grids are expected to meet demand under normal conditions, but NERC warns some regions could struggle to handle extreme heat. The Midcontinent Independent System Operator (MISO), which supplies power to about 42 million customers across the Midwest, Arkansas, Louisiana, and Mississippi, "is at elevated risk of operating reserve shortfalls during periods of high demand or low resource output," according to NERC. Since last summer, the system has retired nearly 1.6 GW of capacity, which has mostly been replaced with more variable solar power. Other areas at risk of shortfalls include New England, Texas, and much of the Great Plains. For investors, a strained grid can be a mixed bag, according to Jefferies analysts. "In the long term, a tightening supply/demand picture is positive for utilities and merchants via higher investment needs and margins, respectively," the analysts wrote in a note on Monday. NextEra Energy (NEE) and Duke Energy (DUK) are two utilities they said could benefit from a tighter grid in Florida, which "had the largest contraction in overall/normal reserve margins" of any region in the last year. Texas Independent Power Producers—companies like NRG Energy (NRG) and Vistra (VST), which generate electricity but are not public utilities, and thus sell their power directly to clients at market rates—"had a Goldilocks update" this year, said Jefferies. The state's ability to meet demand under normal conditions has improved while its extreme demand readiness deteriorated, "primarily due to higher reliance on renewables." Electricity demand is expected to grow at a brisk pace as the state courts energy-intensive industries like data centers and semiconductor fabrication. But in the near term, a strained grid increases headline risk. "Utilities always take the political blame for outages and reliability events," the analysts noted. For that reason, utilities operating in high-risk regions could also be at risk of a high-profile outage dinging investor sentiment. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
