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News & Events

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News, Press Releases, & Announcements

News: Bangladesh Increases Fuel Prices for the Second Time in Four Months

The Bangladesh government lifts fuel prices by a maximum of 19% per litre to reduce the subsidy on imports of petroleum products, according to Bangladeshi newspaper The Daily Star. Prices of diesel, petrol, octane and kerosene will rise by BDT 5 (US$ 0.07). Bangladesh increased fuel prices for the second time in more than four months in a move that economists fear will fuel inflation.

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News: South Korean Electricity Company Reports Fourth Year of Losses Due to Subsidies

South Korea’s main supplier of electricity, Korea Electric Power Corp.’s (Kepco),  is likely to post a loss for the fourth year running as price caps aimed at curbing inflation prevent it from passing on higher fuel costs to customers, reports Bloomberg. Kepco posted a KRW 1.64 trillion (US $1.5 billion) loss for the first half of 2011 as capped prices have not risen in line with rising fuel costs or even inflation. 

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News: India Subsidizes Small Electricity Consumers

A week after a 22% increase in electricity tariffs, the Indian federal government takes a decision to provide a subsidy of INR 1 (US$ 0.02) per unit to domestic consumers whose monthly consumption of electricity does not exceed 200 units, reports Indian newspaper The Economic Times.

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News: Fossil-fuel subsidies round-up: February and March 2011

Following announcements that fossil-fuel subsidies will be phased out, from the G-20, the Asian-Pacific Economic Cooperation (APEC) and a number of independent countries, including Iran, Nigeria and Bahrain, Subsidy Watch has decided each month to highlight important news stories that touch on this theme.

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News: WTO subsidy dispute round-up

In the past two months, the U.S. Congress has decided to continue paying Brazilian cotton farmers US$ 147 million a year; speculation intensifies as the United States enters into consultations with China over subsidies for wind energy; and the American Soybean Association makes noises about the potential trade impacts of the European Union’s Renewable Energy Directive.

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News: New Zealand coordinates 'Friends' group meeting in Cancun

CANCUN – 15th December – At the 16th Conference of Parties (COP-16) to the United Nations Framework Convention on Climate Change in Cancun, Mexico, Tim Groser, the New Zealand Minister Responsible for International Climate Change Negotiations, convened an informal meeting of Ministers of small and medium-sized countries which support the reform of inefficient fossil fuel subsidies.

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