Homeowners looking to switch energy may be disheartened by BP renewable closure - 29/06/2009
People hoping to gain better access to cheap energy in the coming years could be disappointed to learn of the closure of BP's alternative energy headquarters.
Vivienne Cox has resigned from her position as managing director of the division that focussed on developing solar and wind projects and employed 80 staff, while the closure itself could fuel speculation that the oil giant is withdrawing from clean energy investment, reports the Guardian.
The development coincides with a year-on-year reduction of up to £900 million in the firm's renewable energy spending, although its target of reaching £8 billion of investment within the next six years remains roughly on track.
Offices for the reduced-scale renewable operation will be opened at BP's corporate headquarters instead.
Tony Hayward, chief executive of BP, told the paper: "We are going through a major restructuring and bringing the alternative energy business headquarters into the head office seems a good idea to me."
The UK is committed to sourcing 15 per cent of its national electricity demand through renewable means by 2020.
If you want to find out more about switching energy suppliers and how you could save up to £378 in minutes, click here.
Save up to £300 on your gas & electricity bills at energyhelpline.com
Compare prices from all energy suppliers to find your best deal