European Council agrees stance on electricity market reform : Nuclear Policies

The Europa Building in Brussels (Image: European Council)

Following months of negotiations, the European Council has reached an agreement on a proposal to amend the EU's electricity market design, agreeing to include existing nuclear plants in the reform. The agreement could result in France dropping a scheme forcing state-controlled utility EDF to sell a portion of its nuclear energy production to competitors below market-level prices.

The European Council said the reform aims to "make electricity prices less dependent on volatile fossil fuel prices, shield consumers from price spikes, accelerate the deployment of renewable energies and improve consumer protection". The proposal is part of a wider reform of the EU's electricity market design which also includes a regulation focused on improving the EU's protection against market manipulation through better monitoring and transparency.

"The reform aims to steady long-term electricity markets by boosting the market for power purchase agreements (PPAs) generalising two-way contracts for difference (CfDs) and improving the liquidity of the forward market," the European Council said. "The Council agreed that member states would promote uptake of power purchase agreements by removing unjustified barriers and disproportionate or discriminatory procedures or charges. Measures may include among other things, state-backed guarantee schemes at market prices, private guarantees, or facilities pooling demand for PPAs."

The European Council - which is made up of representatives of the governments of EU member states - agreed that two-way CfDs would be the mandatory model used when public funding is involved in long-term contracts, with some exceptions. They would apply to investments in new power-generating facilities based on wind energy, solar energy, geothermal energy, hydropower without reservoir and nuclear energy.

The Council also agreed to remove the temporary nature of capacity mechanisms, support measures that member states can introduce to remunerate power plants in order to guarantee medium and long-term security of electricity supply.

The European Commission adopted the proposals on the reform of the EU's electricity market design on 14 March. However, a dispute between France and Germany over the role of nuclear power in European climate action has dominated negotiations for months.

Under the terms of the agreement, France will now be able to finance the extension of the operation of its existing fleet of reactors with two-way CFDs, in line with the Commission's initial proposal.

Currently, under the so-called Regulated Access to Incumbent Nuclear Electricity (Accès Régulé à l’Electricité Nucléaire Historique, ARENH) mechanism set up to foster competition, rival energy suppliers can buy electricity produced by EDF's nuclear power plants located in France that were commissioned before 8 December 2010. Under such contracts, between July 2011 and December 2025, suppliers can buy up to 100 TWh - or about 25% of EDF's annual nuclear output - at a fixed price of EUR42 (USD47) per MWh. EDF operates 57 reactors in France, with a total capacity of 62.3 GWe, which together provide about 75% of the country's electricity.

Under the agreement reached by the European Council, the ARENH mechanism - which has attributed to lost earnings for EDF - could be replaced by CfDs when it expires at the end of 2025.

The Council's agreement will serve now as a mandate for negotiations with the European Parliament on the final shape of the legislation. The outcome of the negotiations will have to be formally adopted by the Council and the Parliament.Researched and written by World Nuclear News. European Council agrees stance on electricity market reform : Nuclear Policies - World Nuclear News:

Read More........ → October 20, 2023

How loyalty programs encourage repeat customers

by Len Covello — CTO, Engage People, Research shows consumers are increasingly leaning on loyalty programs as the cost of everything from gas to groceries continues to rise. Here are four ways effective loyalty programs stand out from competitors and keep customers coming back time and again.

As competition in the QSR and fast casual space continues to heat up – and consumers look for ways to cut back on their daily spending – marketing teams need to take a fresh look at their loyalty program offerings for 2023.

New loyalty solutions allow restaurant chains to better target their communications, create personal interactions and ultimately foster greater engagement with the brand. While the quality of menu items will always be a leading driver of customer satisfaction, a positive experience before, during and after the visit can boost brand affinity and increase the chances of repeat business, something everyone wants.

Here are four ways effective loyalty programs can help your QSR or fast casual restaurant stand out from competitors and keep your customers coming back time and again.

Personalize the rewards

Personalization is the foundation of the most successful loyalty programs. QSRs that integrate personalized messaging and brand communications, along with customized rewards and perks, deliver a more engaging experience than their competitors.

McDonald's, for example, recently invited its followers across Facebook, Instagram and TikTok to sign up for an SMS marketing campaign that promised "a life-changing opportunity" through a personalized messaging approach. KBP Brands, a major KFC franchisee, began testing an SMS and mobile wallet program at more than 160 restaurants in five states in December with the goal of reaching customers instantly where they are: on their phones.

Providing a phone number, email or other personal information is a trade-off between the consumer and the brand. When the consumer believes he or she will receive value from membership in a rewards program, he or she will opt in and provide their information. Those details are useful for your marketing efforts and allow you to reach them in a personalized way. By properly tracking and securely maintaining customer data, you can tailor your program to meet your customers' shopping expectations, and offer perks that reward loyalty membership.

Offer rewards that are truly rewarding

Unique program benefits like special promotions, discounts and early access are among the most highly desired loyalty perks for customers. Canadian coffeehouse Tim Hortons offers its members a variety of perks in addition to rewards points, including exclusive offers, skip-the-line access, surprises on your birthday and more.

QSRs can offer their program members exclusive promotions, opportunities to try new menu items early, or even free items or free delivery. The list goes on. These perks help foster exclusivity and a deeper connection with your customers, both of which help win loyalty.

The most successful loyalty programs are centered around customer engagement, as an engaged customer is more actively involved in the program from the time they earn rewards to the time they redeem them. This means that customers who are offered rewards they actually want are much more likely to participate in special events and promotions.

Freedom of choice goes beyond the menu

QSRs are discovering that giving consumers as much choice as possible leads to greater retention and engagement, and that includes the payment process. Restaurant chains that offer a range of payment options at checkout increase the likelihood of conversion and encourage repeat business.

More than half of QSR customers have paid with digital wallets during a recent transaction, according to recent data, which should come as welcome news to restaurant owners. Digital wallets provide fast, contactless payment functionality for the customer, keep lines moving and serve as a tool for driving loyalty.

Utilizing stored payment methods, coupons, currencies or other alternative payment options help increase customer interaction and create a positive experience beyond a simple transaction. By making payment more convenient, you are removing friction and providing another opportunity to create a positive interaction with your brand.

Provide your customers with more purchasing power

In the current economic climate in which inflation rates continue to hover at levels we haven't seen in decades, QSRs should be thinking of ways to help customers unlock access to additional spending options.

Research shows consumers are increasingly leaning on loyalty programs as the cost of everything from gas to groceries continues to rise. A recent survey conducted by Dig Insights found that more than 60% of consumers surveyed are tapping into their rewards points to help manage rising costs. It makes sense: loyalty points are something consumers have readily available, making them an easy way to save some money.

Restaurants can harness technology within existing or newer loyalty programs to help customers easily redeem points, which can help mitigate ongoing price increases. The restaurant, in turn, can boost conversion rates and offset some of declining sales that come with prolonged periods of inflation.

As food prices continue to climb and more customers are rethinking how often they visit their favorite restaurants, QSR chains must think about the customer experience now more than ever.Loyalty programs will help restaurants offer a more personalized dining experience, which leads to better customer engagement, more conversion opportunities and greater purchase volume — all of which support the bottom line. With the right programs in place, you can surprise and delight your customers in ways that will keep them coming back for more. Source: https://www.qsrweb.com/

Read More........ → February 22, 2023

Most Asian markets end higher, but Trump throws stimulus grenade

Sculptures stand outside the Hong Kong Stock Exchange. The Hang Seng closed up 0.9% to 26,343.10 points yesterday.

AFP /Hong Kong: Asian markets mostly rose on Wednesday following two days of selling, while investors appeared initially unfussed after US President Donald Trump called a new stimulus package “a disgrace” and told lawmakers to amend it.

Equities and oil prices took a hit as virus cases surged across the planet and a new more transmissible strain was reported in the UK, forcing governments to impose tight restrictions and lockdowns to contain the disease over the festive period.

The worrying spike in infections has overshadowed the rollout of vaccines and news at the start of the week that Congress had finally hammered out an economic rescue package worth around $900bn.

“So much of the good news of the vaccine had been already digested and even the stimulus bill that people had largely anticipated,” Joanne Feeney of Advisors Capital Management said on Bloomberg TV.

“So some of the flattening of the market just reflects how much has already been built into the market from those two good sources of news.”

However, Hong Kong, Tokyo, Shanghai, Sydney, Seoul, Singapore, Mumbai, Taipei and Manila were all in positive territory after recent losses, while Wellington put on more than 1%. Jakarta and Bangkok fell.

London opened with losses, though Paris and Frankfurt both rose.

But Trump’s outburst against this week’s stimulus agreement raised eyebrows. The outgoing president slammed the package as not having enough for American families and told Congress to rethink it, raising the possibility of it being held up until after Christmas.

“It really is a disgrace,” he said in a video message posted on Twitter.

“I am asking Congress to amend this bill and increase the ridiculously low $600 to $2,000, or $4,000 for a couple,” he added, referring to relief cheques being prepared. “I’m also asking Congress to immediately get rid of the wasteful and unnecessary items from this legislation, and just send me a suitable bill.”

OANDA’s Jeffrey Halley said: “Asia’s first reaction appears to be that President Trump is bluffing, or that even if Trump vetoes the fiscal stimulus, Congress will act quickly with the necessary votes” to override his veto.

“Given that many Congressional representatives have probably already left Washington DC for the holidays, that could be complacent.

For now, markets appear to be holding off pressing the sell button until the situation clarifies.” DailyFX strategist Ilya Spivak warned: “This is yet another catalyst to inspire people to cash out.”

And Axi analyst Stephen Innes warned the first quarter of 2021 could be a struggle for markets. “Besides the obvious market sentiment shifts on the most worrying virus mutation, some dim-lit economic worries could still hurt the reflation trade” in the first three months of the year, he said.

“Even with the vaccine rollout getting underway, people had become polarised into one of two groups — those ready to travel now and those who are not prepared for six months or more.

“With the new variant of the virus unleashing its wrath on the UK, it is not a stretch to assume that the percentage of those ready to travel anytime soon will drop.” Worries about the impact of new lockdowns on travel have hit oil prices badly, with both main contracts down more than 1% on Wednesday and around 6% lower since hitting 10-month highs last week.

Investors are keeping a wary eye on post-Brexit trade talks as British and European Union negotiators struggle to find common ground with just over a week to go until a deadline for a deal passes.

The EU has rejected the latest UK offer on the crucial sticking point of fishing but is ready to pursue an agreement even beyond the end of the year cut-off, diplomats said.

According to sources in a meeting of ambassadors, EU negotiator Michel Barnier said he could not guarantee there would be a deal but that the bloc’s “door will remain open”, although Britain has rejected the idea of continuing talks into the new year.

Still, traders remain hopeful a last-minute deal will be hatched, which was providing a little support for sterling. In Tokyo, the Nikkei 225 closed up 0.3% to 26,524.79 points; Hong Kong — Hang Seng ended up 0.9% to 26,343.10 points and Shanghai — Composite closed up 0.8% to 3,382.32 points on Wednesday.Source: https://www.gulf-times.com/

Read More........ → December 24, 2020