Source: www.thestar.co.uk
Petrol, Pasties and Parasols: Economic Worries Will Force Brits to Think Twice About Holidays in 2012 - Market Wire
LONDON, UNITED KINGDOM--(Marketwire - June 6, 2012) - With the economy still not performing well, price rises and growing worries over jobs, Asda Finance predicts that in 2012, more and more Brits will stop taking holidays all together in order to save money.
Asda Finance research conducted in December 2011 into consumer habits on travel found that nearly 2 in 5 Brits (39.67%) took a holiday once per year in 2011. The same research found that 1 in 5 (21.92%) never take a holiday.
While just under 40% of Brits ventured overseas last year, the numbers could fall further as the cost of living takes its toll on the nation.
Brits looking for a holiday might opt for a staycation, however, as money becomes scarce a number of people might cancel their holiday altogether.
The government's recent budget was potentially going to hit food lovers hard with a proposed tax on pasties.* This now looks like it has been revoked, but motorists are still being driven off the roads by an increase in fuel duty of 4p.
As the economic outlook is set to remain bleak and unemployment is expected to rise**, it might come as no surprise that the number of people deciding against a holiday could increase.
Asda Finance believes that over the year the figure could rise to one in four people will never take a holiday. The number of people who go on holiday twice a year (23.79%) could also fall as purse strings become tighter. If you are going on holiday in the UK this year or are even just going away for the weekend an Asda Annual Travel Insurance policy will provide you and your family with cover for any pre-booked trips of two nights or more.
Recent reports show that 40% of Brits are reducing the number of holidays they plan to take because of worries about the economy.***
Those booking a holiday may wish to consider travel insurance for their trip.
Notes for editors
Asda Finance research shows that beach holidays appeal to 62.8%; 46.89% are in favour of a countryside break when booking a holiday. City Breaks appeal to 44.5% of those surveyed; cruises to 25.07%; adventure breaks (i.e. walking, climbing, water sports, etc) to 13.97%; Green/wildlife breaks to 13.68%; Coach / ferry trips to 13.11%; Ski / Snowboarding to 5.84%; and Backpacking breaks to 3.83% (11.77% expressed another travel requirement).
How often do you holiday? Asda Finance eSurvey Data, December 2011:
- Once a year 39.67%
- Twice a year 23.79%
- 3-4 times a year 11.35%
- 4-6 times a year 2.34%
- 7 or more times a year 0.94%
- Never 21.92%
*BBC News - Pasty tax U-Turn a Shambles: http://www.bbc.co.uk/news/uk-politics-18245963
**BBC News report on unemployment figures: http://www.bbc.co.uk/news/business-17979559
***Daily Telegraph reports that four in 10 people are taking fewer holidays than in previous years because of economic concerns and the current job market.
http://www.telegraph.co.uk/travel/travelnews/9007277/Britons-sacrifice-holidays-in-downturn.html
About Asda Travel Insurance
Asda Travel Insurance is sold and underwritten by ACE European Group Ltd, a leading global insurer protecting over 7 million people in the UK.
- Unlimited medical expenses
- 20% online discount
- Single Trip or Annual Holiday Insurance
- A choice of 3 cover levels
- Worldwide or European Travel Insurance
Asda Financial Services Ltd is an Introducer Appointed Representative of ACE European Group Ltd. This means that Asda Travel Insurance policies are sold, administered and underwritten by ACE European Group Ltd who is Authorised and Regulated by the Financial Services Authority (FSA), reference number FRN 202803. Full details can be found on the FSA's Register by visiting www.fsa.gove.uk/register/home.do or by contacting the FSA on 0845 606 1234.
Source: www.marketwire.com
Fish Heads to Chicken Fat Light Homes, Cut Retailer Costs - Bloomberg
Fish heads and chicken fat are being turned into electricity by the U.K.’s largest retailers including Wal-Mart Stores Inc. (WMT) that ship food waste to power plants to reduce garbage-removal fees.
Tesco Plc (TSCO), Britain’s biggest supermarket chain, along with Marks & Spencer Group Plc (MKS), John Lewis Partnership Plc’s Waitrose, William Morrison Supermarkets Plc (MRW) and J Sainsbury Plc are testing how meat and fish, cooking oils and leftover sandwiches can lower energy bills and landfill costs when they’re transported to plants for converting into power.
Companies around the world have invested about $18.2 billion in waste-to-energy assets in the past five years, according to Bloomberg New Energy Finance. Waste Management Inc. (WM), North America’s biggest trash hauler, purchased stakes in eight companies developing systems to convert rubbish into electricity, fuel and chemicals. In Brazil, cities are building incinerators that burn trash to produce electricity.
Bioenergy can provide at least 8 percent of the U.K.’s demand by 2020, valued at about $13 billion at today’s oil prices, the government forecasts. Supermarkets are motivated by a landfill tax that makes it increasingly costly to bury waste. The tax starting in April was 64 pounds ($98) a ton and is set to increase by 8 pounds a year.
“Diverting food waste from landfill to anaerobic digestion is a no-brainer for the supermarkets -- landfill charges and energy costs are only getting more expensive,” said Niamh McSherry, a food retail analyst at Berenberg Bank.
Gutting Catfish
Anaerobic digestion breaks down organic material in the absence of oxygen to make a biogas that can be burned to generate power. Electricity from this process currently costs about $142.80 a megawatt-hour, according to data from the London-based researcher Bloomberg New Energy Finance. This compares to coal-fired power that costs $78 a megawatt-hour.
Developers of bioenergy plants set to benefit from the emerging industry include Kedco Plc (KED), Enviroparks Ltd., GWE Biogas Ltd. and Biffa Group Ltd., which is processing Sainsbury’s waste for the next two years, and Biogen Ltd., which already processes food from Waitrose stores.
Waste-to-power projects in the U.K. benefit from state subsidies under the government’s Renewable Obligation Certificate program that requires utilities to buy increasing amounts of electricity from clean energy sources.
State Subsidies
One certificate is awarded to generators of renewable power for every megawatt-hour produced. Utilities are required to hold increasing amounts of ROCs or pay a penalty. Different technologies receive different numbers of ROCs. Anaerobic digestion is currently eligible for two. This means they receive about 84.74 pounds for every megawatt-hour of electricity produced at current ROC prices.
Refineries and airlines also are pioneering energy-from- garbage projects. Neste Oil Oyj (NES1V) is making diesel for cars and trucks using fat from gutting pangasius, an Asian catfish. Airlines including Air France-KLM (AF) Group and Deutsche Lufthansa AG (LHA) have started flying planes on used cooking oil.
Old Lamb Chops
Wal-Mart’s Asda unit sends old lamb chops to moldy bread to bioenergy sites. About 2,500 homes are powered by Sainsbury’s unsold meals and rotting vegetables. Waitrose chickens are kept warm in solar huts as Tesco examines how fat from rotisseries can produce electricity.
Waitrose sends all “unavoidable” food waste, packaged or unpackaged, raw or cooked, to anaerobic digestion facilities to make biogas used to generate power for the National Grid.
Tesco is saving 200 million pounds on its energy bills every year through low carbon and energy-efficient technologies introduced since 2006. Marks & Spencer saved more than 70 million pounds last year. Asda expects to save about 800 million pounds by 2020 by implementing energy-saving measures.
’Zero Waste’
Morrison’s, as part of its plan for zero waste to go to landfills by 2013, sends trash to bioenergy plants. Marks & Spencer sends 89 percent of its food waste, including salads and sandwiches, to similar facilities as it strives to become carbon-neutral in the U.K. and Ireland this year.
“Anaerobic digestion saves the food retailers money and allows them to demonstrate their ‘green credentials’ to the government and consumers,” McSherry said in London.
The DECC estimates that anaerobic digestion facilities and plants using wood chips, food waste and agricultural residues to produce heat and power could account for 8 to 11 percent of the U.K.’s primary energy demand within eight years.
Rothschild’s RIT Capital
Sainsbury (SBRY)’s, the U.K.’s third-largest supermarket after Tesco and Asda, in February invested in Tamar Energy Ltd., which plans to build 40 plants within five years that will use waste to generate electricity. The business is backed by financier Jacob Rothschild’s RIT Capital Partners Plc investment trust and the Duchy of Cornwall estate held by Prince Charles, heir to Britain’s throne.
Anaerobic digestion is not the only renewable energy source that U.K. food retailers are using to chop bills and cut emissions as Britain seeks to get 15 percent of its energy from clean sources by 2020.
Sainsbury’s, trying to reduce emissions by 30 percent by 2020, has installed about 7 megawatts of solar panels on its stores, which combined is probably larger than any single solar farm in the U.K., Neil Sachdev, property director for the retailer, said by e-mail. One store also uses geothermal power.
Both Sainsbury’s and Marks & Spencer also source electricity directly from renewable energy generators including land-based wind farms, biomass facilities and hydropower. Sainsbury’s currently gets more than 4 percent from renewables, with plans to boost this past 10 percent by 2013.
Wood-Chip Power
Waitrose in March opened a store on the Isle of Wight powered by wood chips. It’s seeking to install as many as 150 similar energy centers by 2020 and plans to open its second in Bracknell this month. Wind turbines and solar panels already provide heat and light for chicken huts at its Leckford Estate in Hampshire. Sainsbury’s sends all bread waste for processing into animal feed.
Tesco, seeking to cut store emissions in half by 2020 from 2006 levels, is testing the potential of clean-energy technologies such as sun-powered lights in car parks at six zero-carbon stores in the U.K., Ireland, Thailand and the Czech Republic. Many of its stores now use energy-saving lights.
“A modern brand is a sustainable brand,” said Lucy Neville Rolfe, executive director in corporate and legal affairs at Tesco. “Reducing energy tends to save money.”
Air-Source Pumps
Morrison’s said it opened its “greenest” store last October in Peterborough. The store is testing solar panels, more efficient lighting and air-source pumps that use outside oxygen for heating.
“Reducing energy consumption and sustainably managing waste is just good business,” Bob Gordon, head of environment at the British Retail Consortium, said. “U.K. retailers are saving literally hundreds of millions of pounds per year through their sustainability agendas.”
To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net
Source: www.bloomberg.com
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