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Category: housing

  • MIL-OSI Europe: Highlights – Affordable housing, addressing the housing crisis in the European Union – Special committee on the Housing Crisis in the European Union

    Source: European Parliament

    On 24 March, the Special Committee on the Housing Crisis in the European Union (HOUS) will host a conference on affordable housing, addressing the housing crisis in the European Union.

    The conference is jointly organised by the European Parliament and the European Commission and will address the full spectrum of topics outlined in both the HOUS Committee’s mandate and the Commission’s Affordable Housing Dialogue Framework. The conference will gather representatives from EU institutions, national and regional authorities and stakeholders.

    This initiative marks the beginning of a comprehensive, evidence-based approach to affordable housing policy and how to address the housing crisis in the Union, ensuring inclusive engagement with all relevant stakeholders and topics.

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – New Commission portfolio dedicated to housing and implications for Member State and local authority competences – E-002995/2024(ASW)

    Source: European Parliament

    The EU is facing a severe housing crisis impacting millions of people. To help tackle this crisis, the Commission has appointed the first-ever Commissioner for Housing and has established a Task Force for Housing.

    It assists the Commission in coordinating the work among its services and supporting Member States, Mayors and local authorities to address structural drivers, to unlock public and private investment for affordable and sustainable housing, and to add value at EU level, where needed.

    The Commission will be working closely with the European Parliament and the Council, across institutions and different levels of public administrations, and across sectors.

    The Commission will assess various aspects of the lack of affordable housing. Throughout 2025, the Commission intends to extensively consult all relevant stakeholders. All this will feed into the European Affordable Housing Plan (EAHP) and ensure that the plan is well-targeted.

    In addition, the Commission services are examining how state aid rules for housing could be revised to enable housing support measures, notably for energy efficiency and social housing, and conduct an analysis of the impact of housing speculations and its economic consequences.

    The Commission will also work together with the European Investment Bank to establish a pan-European investment platform for affordable and sustainable housing and work closely with other international financial institutions, national promotional banks, and institutions and other stakeholders in this work. The Commission will also develop a European Strategy for Housing Construction.

    Regarding the impact of migration on the housing market, the Commission will assess it during the development of the EAHP.

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Recognition of nuclear-derived hydrogen as ‘low carbon’ – E-002277/2024(ASW)

    Source: European Parliament

    The Commission published on 27 September 2024 for feedback a draft delegated act[1] setting out the methodology for determining the greenhouse gas emissions savings of low-carbon fuels.

    The consultation closed on 25 October 2024. As required under Article 9(5) of the Hydrogen and Gas Market Directive[2], the draft is consistent with the methodology agreed for determining the greenhouse gas emissions savings of renewable hydrogen and recycled carbon fuels[3], including the same pathway that considers the emission intensity of electricity based on the annual electricity mix.

    The pathway for sourcing fully renewable electricity is specifically required by the Renewable Energy Directive[4] while no dedicated pathway for sourcing nuclear power is set out under the Gas Market Directive[5].

    Nevertheless, the Commission intends to explore also these pathways in the context of a future review of the draft delegated act at the latest by July 2028.

    The Commission will take into account the feedback received and adopt the final text of the delegated act before submitting it to the European Parliament and the Council, which will have two months to examine the proposals and to accept or reject them.

    • [1] https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/14303-Methodology-to-determine-the-greenhouse-gas-GHG-emission-savings-of-low-carbon-fuels_en
    • [2] Directive (EU) 2024/1788.
    • [3] Commission Delegated Regulation (EU) 2023/1185 of 10 February 2023 supplementing Directive (EU) 2018/2001 of the European Parliament and of the Council by establishing a minimum threshold for greenhouse gas emissions savings of recycled carbon fuels and by specifying a methodology for assessing greenhouse gas emissions savings from renewable liquid and gaseous transport fuels of non-biological origin and from recycled carbon fuels. OJ L 157/20, of 20.06.2023.
    • [4] Directive (EU) 2023/2413 of the European Parliament and of the Council of 18 October 2023 amending Directive (EU) 2018/2001, Regulation (EU) 2018/1999 and Directive 98/70/EC as regards the promotion of energy from renewable sources, and repealing Council Directive (EU) 2015/652, OJ L, 2023/2413, 31.10.2023.
    • [5] Directive (EU) 2024/1788 of the European Parliament and of the Council of 13 June 2024 on common rules for the internal markets for renewable gas, natural gas and hydrogen, amending Directive (EU) 2023/1791 and repealing Directive 2009/73/EC (recast), OJ L, 2024/1788, 15.7.2024.
    Last updated: 17 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Measures taken by Santiago de Compostela City Council to prevent the city being overrun by tourists – E-003059/2024(ASW)

    Source: European Parliament

    The Commission thanks the Honourable Member to have drawn its attention to the measures introduced by the City Council of Santiago de Compostela.

    The EU is indeed facing a severe housing crisis impacting the quality of life of millions including students, young people and families as well as businesses.

    To help tackle this crisis the Commission has nominated the first-ever Commissioner for Housing and established a Task Force for Housing which has started working on 1 February 2025.

    This Task Force will coordinate the various strands of work across the Commission and will support Member States and subnational actors to address structural and drivers of the crisis.

    The Commission intends to put forward a European Affordable Housing Plan early 2026.

    The development of this plan requires a thorough analysis of the various aspects of the housing crisis. This is why, during 2025, the Commission will carry out an extensive dialogue with EU institutions, Member States authorities and stakeholders to map the various challenges and identify best practices, such as those in Santiago mentioned by the Honourable Member.

    At the same time, the Commission is fully conscious of the importance of tourism for the European economy. Hence, the Commissioner for Sustainable Transport and Tourism will prepare a Strategy for Sustainable Tourism in the next months.

    The EU Tourism Platform[1], launched in 2024, may allow the City Council of Santiago de Compostela to submit its best practices and pledges.

    A new Regulation (EU) 2024/1028[2] on short-term rentals will be effective as from May 2026 and the Commission is committed to working with public authorities and platforms to bring more transparency.

    • [1] https://transition-pathways.europa.eu/tourism/stakeholders-actions/
    • [2] https://eur-lex.europa.eu/eli/reg/2024/1028/oj/eng
    Last updated: 17 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Legislative proposal to include the EU 2040 climate target – E-000551/2025(ASW)

    Source: European Parliament

    In February 2024, the Commission presented its assessment for a 2040 climate target for the EU and the 2040 climate target Communication where it recommended a 90% net greenhouse gas emission reduction compared to 1990 levels as the recommended target for 2040[1].

    As announced in the Commission Work Programme 2025[2], the Clean Industrial Deal will also go hand in hand with a proposed 90% emission-reduction target for 2040 to be enshrined in the European Climate Law. The indicative date for the adoption of the European Climate Law amendment proposal is the first quarter of 2025[3].

    • [1] COM(2024) 63 final.
    • [2] COM(2025) 45 final.
    • [3] Annex I to the Commission work programme 2025.
    Last updated: 17 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Measures to expand electricity infrastructure for the green transition – E-002681/2024(ASW)

    Source: European Parliament

    Interconnected and stable electricity grids, both at transmission and distribution levels, are a key enabler of the clean energy transition.

    The development of distribution grids is addressed in several legal as well as non-legislative acts, including the Electricity Directive[1]; several actions targeting the distribution networks have also been tabled for the first time in the Grid Action Plan[2].

    The Commission will continue to actively upgrade the EU grid infrastructure. The Commission will look at the legal framework on European grids with the aim to help upgrade and expand grids to support rapid electrification, and will table a Clean Investment Strategy to support efforts to prioritise investment in clean energy infrastructure.

    An Electrification Action Plan will also be tabled to ensure an encompassing strategy towards an EU energy system powered with homegrown, clean electricity.

    In addition, the Commission is continuously monitoring skill shortages in the energy sector. The Commission estimates that the transition to clean energy will require 3.9 million additional skilled workers[3].

    The latest European skills and jobs survey[4] shows that energy supply and manufacturing are among the sectors with the highest upskilling needs in terms of technical and job-specific skills.

    To address these shortages, the Commission will[5], inter alia, promote the setting-up and implementation of new sectoral and regional skills partnerships under the Pact for Skills and support the work of all the Skills Academies in net-zero technologies.

    The Commission will also establish a Union of Skills[6], which will focus, among others, on investment, adult and lifelong learning, skill retention and recognition of different types of training.

    • [1] Directive (EU) 2024/1711.
    • [2] COM/2023/757 final, Concrete actions of the Grid Action Plan include supporting better distribution grid planning and anticipatory investment to be able to connect new loads and renewables on time, coordinate action on the grid hosting capacity for both transmission and distribution grids, promotion of smart grids and innovative network technologies also via Technopedia platform, which should be jointly established by ENTSO-E and the EU DSO entity and further actions to support accelerating the permitting procedures.
    • [3] Commission Communication on Labour and skills shortages in the EU: an action plan, COM(2024) 131 final. Electrical engineers, electrical engineering technicians, building and related electricians, electrical mechanics and fitters as well as environmental engineers were listed in Annex of the proposal for a regulation of the European Parliament and of the Council establishing an EU Talent Pool, listing occupations, for which an EU-wide shortage has been identified.
    • [4] Cedefop (2021).
    • [5] These actions are all included in the action plan on labour and skills shortages in the EU.
    • [6] As announced in the Political Guidelines.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Foreign interference in the electoral process in Germany – E-000976/2025

    Source: European Parliament

    Question for written answer  E-000976/2025
    to the Commission
    Rule 144
    Alexandre Varaut (PfE), Gerolf Annemans (PfE), Nikola Bartůšek (PfE), Angéline Furet (PfE), Filip Turek (PfE), Marie-Luce Brasier-Clain (PfE), Christophe Bay (PfE)

    In the run-up to the German federal elections on 23 February 2025, fears of foreign interference were on the rise[1] and the Commission was urged to take measures to safeguard the integrity of the ballot[2].

    These fears were targeted against Russia, but also the United States, and in particular Elon Musk, owner of the social media network X (formerly Twitter). In response, the Commission stated[3] that Elon Musk’s attitude would form part of its investigation into X, which it is currently conducting in the context of the Digital Services Regulation.

    Given their potential impact on the democratic debate in Europe, these circumstances give rise to the following questions:

    • 1.At the time of its reply, does the Commission have any evidence or indications of foreign interference in the German federal elections?
    • 2.If so, can the Commission identify the perpetrators and state the specific elements on which these suspicions are based, indicating the corresponding legal classification for each?
    • 3.Can the Commission distinguish the nature of these acts from other incidents which occurred during the recent European elections[4] and which were not classified as interference, which may give rise to fears that the accusations of interference are in fact being used as a political means to eliminate certain candidates?

    Supporters[5]

    Submitted: 6.3.2025

    • [1] https://www.reuters.com/world/europe/german-task-force-tackle-foreign-meddling-before-election-2024-11-29
    • [2] https://www.reuters.com/world/europe/france-germany-others-urge-eu-commission-protect-elections-europe-foreign-2025-01-30
    • [3] https://fr.euronews.com/my-europe/2025/01/09/la-commission-europeenne-va-enqueter-sur-le-debat-entre-elon-musk-et-la-cheffe-de-lextreme
    • [4] For example, the call by three European leaders to vote for a candidate in the French presidential election of 2022 (https://www.francetvinfo.fr/elections/presidentielle/presidentielle-2022-trois-dirigeants-europeens-appellent-a-choisir-le-candidat-democrate-au-second-tour_5093920.html) or the visit by the President of the Commission to Moldova on 10 October 2024, ten days before the referendum on membership of the European Union, to encourage Moldovans to move ever closer to the Union (https://enlargement.ec.europa.eu/news/press-statement-president-von-der-leyen-moldovan-president-sandu-2024-10-10_en).
    • [5] This question is supported by Members other than the authors: Jean-Paul Garraud (PfE), Julie Rechagneux (PfE)
    Last updated: 17 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Adoption of an EU strategy for nuclear fusion – E-002958/2024(ASW)

    Source: European Parliament

    As announced in the Clean Industrial Deal and by the Commissioner of energy and housing during his structured dialogue in the Committee on Industry, Research and Energy on 20 February 2025, the Commission is committed to present an EU fusion strategy this mandate.

    The need for an EU fusion strategy is also advocated in the Draghi report[1], and called for by EU’s fusion community. Such a strategy should leverage Europe’s leadership in the ITER[2] project and in fusion technology, in consultation with stakeholders.

    The Commission has already started such consultations and in 2024 set up a dedicated Expert Group with representatives from interested Member States to advise on steps towards the development of a specific regulatory framework and options for fostering industrial innovation through fusion research and development.

    The Commission is engaging with European fusion industry and research organisations to explore ways for the involvement of private industry, including the possibility to reinforce cooperation and sharing of knowledge with ITER, and to create a European Technology and Innovation Platform.

    In this framework, the Commission is preparing to launch a public-private partnership and is working with the European Innovation Council to support commercial fusion start-ups.

    Since 2014 , under the Euratom Research and Training Programme, the EUROfusion[3] partnership has played a pivotal role in advancing and coordinating Europe’s fusion research efforts.

    Its Research and Development roadmap,[4] which focuses on ITER programme, the demonstration power plant (DEMO), and materials testing facility IFMIF-DONES[5], serves as the foundation for fusion research in Europe, leveraging Europe’s expertise in magnetic confinement fusion.

    • [1] https://commission.europa.eu/topics/strengthening-european-competitiveness/eu-competitiveness-looking-ahead_en
    • [2] ITER is an international collaboration project developing frontier science in energy technology that aims to demonstrate the technical and scientific feasibility of fusion as a future source of carbon-free energy.
    • [3] https://euro-fusion.org/
    • [4] https://euro-fusion.org/eurofusion/roadmap/
    • [5] International Fusion Materials Irradiation Facility — Demo Oriented NEutron Source.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Need for a permanent ceasefire and the escalation of violence in the West Bank – E-000984/2025

    Source: European Parliament

    Question for written answer  E-000984/2025
    to the Council
    Rule 144
    João Oliveira (The Left)

    The ceasefire in the Gaza Strip on 15 January 2025 made it possible to ramp up humanitarian aid, although a far cry from what is really needed. According to figures dating from mid-February from the United Nations Office for the Coordination of Humanitarian Affairs, 91 % of the Palestinian people are still enduring acute food insecurity. More than 48 000 Palestinians have lost their lives and over 111 000 have been wounded owing to Israel’s genocide-like action. On top of this, some 70 % of Palestine’s infrastructure has been razed to the ground, as its territory continues to be destroyed.

    Despite the ceasefire in the Gaza Strip, Israeli military attacks in the West Bank are going from bad to worse. According to the UN, more than 40 000 Palestinians have been forced from their homes and land, on a scale that hasn’t been seen in decades, and between 21 January and 20 February of this year, Israeli forces reportedly killed 51 Palestinians in the West Bank.

    In the light of the above:

    • 1.What measures is the Council taking to ensure that the ceasefire becomes permanent and that humanitarian aid actually finds its way to where it is needed?
    • 2.Is the Council in favour of suspending the EU-Israel Association Agreement and imposing an arms embargo, among other measures?
    • 3.What measures will the Council take to ensure that the Palestinian people can enjoy their rights as a nation, to put an end to the Israeli occupation and to create a Palestine state, as has been called for in UN resolutions?

    Submitted: 6.3.2025

    Last updated: 17 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Economic impact and management of illegal migration in the EU – E-000894/2025

    Source: European Parliament

    Question for written answer  E-000894/2025
    to the Commission
    Rule 144
    Afroditi Latinopoulou (PfE)

    Managing illegal migration flows is one of the biggest challenges facing the European Union today and it has a significant impact both on the budgets of Member States and on their economies. There needs to be an informed, trust-based discussion on the economic cost and fiscal impact of illegal migration flows.

    In view of the above, can the Commission answer the following:

    • 1.Does it have up-to-date aggregate data on the total cost to Member States of taking in and providing services to illegal migrants residing in the EU, including housing, healthcare, education and social service costs?
    • 2.What is the estimated cost of implementing the procedures for returning illegal migrants to their countries of origin, including administrative, detention and transportation costs, and what proportion of this cost is covered by the EU budget and the national budgets respectively?
    • 3.Has the Commission carried out comprehensive studies on the long-term economic impact of both legal and irregular migration on the EU Member State economies, including the impact on the labour market, social security systems and fiscal sustainability, and, if not, does it intend to do so?

    Submitted: 3.3.2025

    Last updated: 17 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Luis de Guindos: Interview with The Sunday Times

    Source: European Central Bank

    Interview with Luis de Guindos, Vice-President of the ECB, conducted by Jon Ihle

    16 March 2025

    The progress of annual inflation, at least up until February, looked like it was going in the wrong direction. Are you still confident that it will converge towards 2% sometime this year?

    The disinflation process is on track. There was a small pick-up inflation in recent months, but this had been expected, mostly on account of unfavourable base effects in November, December and January.

    The main reason for our confidence that inflation will come down to 2% is that all indicators for services and underlying inflation are moving in the right direction. A very important one is compensation per employee. According to recent data and in line with our projections, wage growth is moderating, which will help services inflation to gradually decline.

    At the same time, we need to keep in mind that factors like tariffs and fiscal policy are causing a lot of uncertainty. But taking this into account, we are confident that headline inflation will converge on a sustainable basis towards our 2% medium-term target towards the end of this year or the beginning of next.

    Let’s talk about some of the factors in this uncertain environment. What are the specific factors that are influencing the Governing Council’s thinking about the rate path right now, and how has that changed since the start of the easing cycle?

    We have already reduced interest rates by a total of 150 basis points. This is what we refer to in our monetary policy statement as a “meaningfully less restrictive” stance than at the beginning of the cycle.

    Our projections now show that inflation will converge towards our target in the medium term. But again, we need to consider the uncertainty of the current environment, which is even higher than it was during the pandemic. For instance, our projections don’t include the definitive level of the tariffs imposed by the United States and its trade partners, since the current situation is so volatile.

    Nevertheless, we are confident that inflation is moving towards our target on a sustainable basis, for example due to the moderation in wage growth I mentioned earlier. Even energy prices, which had also resulted in a small pick-up in inflation, have started to decline.

    Markets in the last few weeks have had some very strong reactions to the external environment. I’m thinking of the increase in German bond yields, changing expectations for fewer rate cuts from the ECB and the stock market correction in the United States. Does any of that feed into the ECB’s thinking on the rate path?

    We look at a wide range of indicators, all of which have an impact on our analysis. These include the evolution of wages and of the economy in terms of domestic demand and growth. And we of course look at financing conditions, for which our bank lending survey is very useful.

    It’s true that bond yields have increased due to the new German Government’s budgetary plans and that we have seen a correction in US equities from very high levels. But we also need to try to look through the short-term evolution of markets and distinguish between short-term volatility and permanent or medium-term forces. If we were to be as volatile as the markets, that wouldn’t be very reassuring.

    You said the uncertainty now is even greater than during the pandemic. How would you characterise it? What are the big unknowns at the moment?

    First, the policies of the new US Administration. There’s a lot of talk about tariffs, but it’s not just about that. The new Administration has also been quite clear about deregulating banks, non-banks and crypto-assets. And beyond that, they have announced that they want to modify corporate tax, which could affect capital flows across the Atlantic. In general, what we’re seeing is that the new US Administration isn’t very open to continuing with multilateralism, which is about cooperation across jurisdictions and finding common solutions for common problems. This is a very important change, and a big source of uncertainty.

    Second, and as a result of the new Administration’s attitude towards defence, we have the European Commission’s proposal to increase national defence spending by 1.5% of GDP. This is certainly a decision in the right direction, and it will have an impact on the macroeconomic outlook. We don’t know enough details about the package to make an accurate assessment about its impact on the economy, but it will likely be positive for growth and have a limited impact on inflation.

    Let’s focus on defence. Are you comfortable with national budget rules being relaxed to accommodate more defence spending? Will you need to adjust your monetary policy as those changes in fiscal policy come through?

    We always take fiscal policy into account because it interacts with monetary policy. In this case, we need to know the concrete details of the package before we can make an accurate assessment. How will spending be distributed across items? In terms of economic impact, spending more on military wages is not the same as spending more on weapons. How much will be spent outside of the EU? How is it going to be financed? One part will be common debt, but the package is much larger than that. The rest could be covered by taxes or a reduction in public spending. All of these factors are important to know in order to assess the impact of the package on the economy.

    It looks like we may be moving closer towards a resolution of the war in Ukraine, or at least a ceasefire. Would that be beneficial for the euro area economy? Would it change anything of what you’ve outlined so far?

    From a human standpoint, a peace agreement would obviously be very positive. And in general, it would be beneficial for the economy as well. But we would need to see the exact terms of a potential settlement to know for sure.

    Turning to the United States, what role do you see for the ECB in terms of managing trade shocks and the overall approach of the Trump administration?

    We need to keep in mind that the current situation is very volatile. It seems like every day a new tariff is imposed or one that has already been announced is removed. Hopefully we’ll soon have more clarity on the US Administration’s plans for the time ahead.

    Obviously, a trade war would be a lose-lose situation for everybody. It would have a much worse impact on growth than on inflation. This is because increasing tariffs raises prices at first, but lower growth subsequently offsets this initial price increase. We also need to look not only at bilateral tariffs between the United States and Europe but also at what economists call “trade diversion”. This means that, for example, tariffs imposed by the United States on Chinese goods could redirect trade flows to Europe, along with whatever economic impact that may have.

    Once we have all the details of the final policies, we will be able to better assess their impact based on all these factors. We are now using a baseline scenario and several alternative scenarios with different trade distortions to try to calibrate the impact as best as we can.

    Another aspect of the uncertainty in the United States is the way Trump is changing the relationship of the White House to many of the independent agencies in Washington. One of those might be the Federal Reserve. What would it mean for the ECB if its independence were to erode under President Trump? Has that scenario been discussed at all in the Governing Council?

    No, we haven’t discussed that because we can’t imagine it happening. The independence of the Federal Reserve is enshrined in law. We will always defend the independence of central banks, which is crucial to ensure they can fulfil their mandates.

    There are a lot of question marks over the predictability of the United States. Does Europe need to start thinking about making the euro more of a global reserve currency, if the dollar becomes less reliable?

    The euro is already a reserve currency, and strengthening its role in that respect is not part of our mandate. But keeping inflation low, increasing the potential growth of the European economy, signalling openness to trade agreements with different jurisdictions and making the European Union a model for free trade all over the world – all of this would strengthen the role of the euro as a reserve currency.

    But do you see a need for Europe to step more into that role ahead of the United States?

    I wouldn’t make comparisons with the United States. What Europe should do is maintain the position that it has always had as an open economy, in favour of free trade, the free flow of capital and multilateralism.

    Earlier you said that a trade war would be very detrimental to growth, but we don’t know all the details yet. How has the ECB’s view on euro area growth evolved in the last few months?

    We have downgraded our growth outlook for 2025 and 2026 by 0.2 percentage points. There are two main drivers behind that downward revision. First, uncertainty about the economy in the coming months has clearly dented confidence, and this is having an impact on investment. And second, a possible trade war would reduce net exports.

    Philip Lane has said recently that the conditions in the euro area are right for a pick-up in household consumption. Do you share his optimism that it can increase and maybe drive economic growth?

    All the factors that Philip indicated are correct. Real wages have increased, inflation is declining, interest rates are coming down and financing conditions are better. But still, the reality is that consumption is not picking up.

    This is because consumers don’t always react to developments in their short-term real disposable income. They also consider what might happen with the economy over the medium term, which is clouded in uncertainty. The possibility of a trade war or wider geopolitical conflict has an impact on consumer confidence.

    Eventually, the increase in the factors that Philip pointed out will prevail. But right now, the lack of consumer confidence due to the uncertainty of the world economy is offsetting that effect.

    European households have enormous cash savings at the moment, especially since the pandemic. Christine Lagarde has spoken frequently about turning those cash savings into investment to drive innovation and growth. Are you optimistic that this can become a reality?

    The capital markets union is certainly very important, but looking at the current economic situation in Europe, it’s crucial to put structural reforms in place to make it more productive and competitive. This is also what the Letta and Draghi reports argued.

    Fully integrating the internal market will be key here. It’s very difficult to have a capital markets union if you don’t have an integrated economy for goods and services. There are certainly concrete actions we can take to complete the capital markets union, but we should also focus on removing the internal obstacles to a real single market in Europe.

    There are three key elements here: fully integrating the Single Market, completing the banking union and completing the capital markets union. We must make progress on these three elements in parallel; it will be very difficult to make progress on one of them in isolation.

    Which of those elements would you say the ECB has the most influence on? And what can it do?

    Our mandate is price stability, but we also have an advisory role and produce expert opinions. Our economists and researchers carry out a lot of analytical work on Europe. The European Council and the Commission listen to what we have to say, and we are also accountable to the European Parliament. So we continuously use our voice to make the points that we believe are key to making the European economy more productive and competitive.

    Are you happy with the levels of credit flow from European banks to households and businesses?

    They are on the rise, following the rate cuts and the improvement in financing conditions. Demand for credit is not very strong, at least from a corporate standpoint, although it’s gradually increasing. This has to do with the lack of investor confidence. If you have doubts about the future and you’re waiting to see what will happen with trade, fiscal policy and geopolitical risk, you don’t invest, so you also don’t borrow. But in the case of households, we have started to see a significant increase in demand for mortgages.

    Speaking of housing: in several countries of the euro area, housing is in crisis. There’s an undersupply, and financing isn’t available to everybody that wants to buy a house. Do you think at this stage, nearly 15 years after the financial crisis, that lending rules are still too tight? Have regulators overcorrected on capital rules for banks, harming consumers and households?

    The current situation is very different to the one that we had 15 years ago. As a finance minister in Spain, I was dealing with the burst of a big housing and credit bubble, similar to what we saw in Ireland. Now, residential real estate prices are a big problem, but the drivers aren’t the same as the ones we had back then. From a financing standpoint, the situation is very different because the banks’ solvency is not in question.

    That being said, current developments in house prices are having a very negative impact on young people, who have a lot of trouble accessing housing. In some countries, this may have to do with issues with the rental market and how it is regulated. Policies should be put in place to make housing, mainly in the rental market, much more affordable. At the European level, improving the performance of the rental market will be very important in the near future. We should foster common action to achieve this, because it’s a significant source of social upset.

    But this is for national governments to do, not the ECB. We do need to analyse the situation, however, because not all countries are in the same position with respect to their rental markets. And there are lessons to be learned from the policies some countries have put in place.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Supporting people with Council Tax debt

    Source: Scottish Government

    Citizens Advice Scotland project expanded.

    People struggling with Council Tax arrears will have access to enhanced advice through the expansion of a Citizens Advice Scotland project.

    Backed by an additional £2.2 million in Scottish Government funding, the project provides tailored support to affected households and works with local authorities to support good practice in Council Tax debt collection.

    The project has already been delivered in nine local authority areas, where it has helped to promote dignified and empathetic approach to debt collection and supported more than 1,600 people with advice on Council Tax issues. This additional funding will allow the project to be extended across the whole country.

    Housing Minister Paul McLennan said:

    “Any type of debt, including council tax debt, puts pressure on households and can cause real difficulties for family finances. Empathy and dignity must be at the heart of debt support.

    “This project has already made a big difference to the way debts are collected in the local authorities where it is in place, including supporting people who cannot access digital technology, making connections with mental health services where needed and encouraging people to seek advice early.

    “By helping families manage debts, this project will help us deliver on our driving mission of eradicating child poverty. Other steps we are taking to support this include investing £6.9 billion in social security for the year ahead, £37 million to deliver the expand the free school meals programme, and continuing to put more money in families pockets through the Scottish Child Payment.” 

    Background

    Advice and support are available for people experiencing problem debt – Debt and money – Cost of Living Support Scotland

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Government steps to promote clean energy alternatives to Kerosene

    Source: Government of India (2)

    Posted On: 17 MAR 2025 4:17PM by PIB Delhi

    Effective 1st March, 2020, the retail selling price of PDS Kerosene is being maintained at NIL under-recovery level on pan India basis.

    Government makes allocation of Public Distribution System (PDS) Kerosene for cooking and lighting purpose. Besides this, Government in 2012, has also empowered States/ UTs to draw an allocation of one month’s quota of PDS Kerosene at Non-Subsidized rates during each financial year for special needs such as natural calamities, religious functions, fisheries, various yatras etc. The allocation of SKO under PDS has been rationalized considering the polluting nature of Kerosene. Further, Government provided cash incentives to States under Direct benefit Transfer for Kerosene scheme (DBTK) for voluntary surrender of PDS Kerosene allocations from 2015-16 to 2019-20. Since then, 13 states have become Kerosene free till FY 2023-24.

    Government is leading as well as working with various international initiatives to lead a clean energy transition. India was one of the founding members of the International Solar Alliance in November 2015 and the Global Biofuel Alliance during its G20 presidency in September 2023. During India Energy Week 2025, India hosted a Ministerial Roundtable on Clean Cooking to discuss ways to address challenges faced by the Global South and share lessons from India’s Pradhan Mantri Ujjwala Yojana (PMUY).

    Government has adopted a multi-pronged strategy to promote clean energy which, inter alia, include demand substitution by promoting usage of natural gas as fuel/feedstock across the country towards increasing the share of natural gas in economy and moving towards gas based economy, promotion of renewable and alternate fuels like ethanol, second generation ethanol, compressed bio gas and biodiesel, refinery process improvements, promoting energy efficiency and conservation, efforts for increasing production of oil and natural gas through various policies initiatives, etc. For promoting the use of Compressed Bio Gas (CBG) as automotive fuel, Sustainable Alternative Towards Affordable Transportation (SATAT) initiative has also been launched.

    As a cleaner alternative to Kerosene for lighting purposes, India has achieved near universal saturation in electricity access through Saubhagya (Pradhan Mantri Sahaj Bijli Har Ghar Yojana) and Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY).

    With a view to provide access to clean cooking fuel to poor households across the country, Pradhan Mantri Ujjwala Yojana (PMUY) was launched in May, 2016. To make LPG more affordable to PMUY consumers and ensure sustained usage of LPG by them, Government started a targeted subsidy of Rs.200/- per 14.2 kg cylinder for up to 12 refills per annum (and proportionately pro-rated for 5 Kg connections) to the PMUY consumers in May 2022. In October 2023, Government increased the targeted subsidy to Rs.300 per 14.2 kg cylinder for up to 12 refills per annum (and proportionately pro-rated for 5 Kg connections). After a targeted subsidy of Rs. 300/cylinder to PMUY consumers, Government of India is providing 14.2 Kg LPG cylinders at an effective price of Rs.503 per cylinder (in Delhi). This is available to more than 10.33 crore Ujjwala beneficiaries, across the country.

    In order to improve awareness of the benefits of LPG across the country, various steps have been taken inter alia, including organizing campaigns for improving awareness about PMUY, organizing melas/camps to enroll and distribute connections, promotion through Out of Home(OOH) hoardings, radio jingles, Information, Education and Communication (IEC) Vans etc., spreading awareness about advantages of using LPG over other conventional fuels and safe usage of LPG through LPG Panchayats, enrolment/awareness camps under Viksit Bharat Sankalp Yatra, facilitation of consumers and their families for Aadhar enrolment and opening of bank accounts for getting PMUY connections, simplification of process of getting LPG connection, online application for PMUY connection at www.pmuy.gov.in, nearest LPG distributors, Common Service Centres (CSC) etc., option of 5 Kg Double Bottle Connection(DBC), swap option from 14.2 Kg to 5 Kg, provision for Migrant Families to avail new connection on Self-Declaration instead of Proof of Address and Ration Card. Further, OMCs are continuously commissioning new LPG Distributorships, especially in rural areas. Since the launch of PMUY scheme, OMCs have commissioned 7959 Distributorships (commissioned during 01.04.2016 to 31.12.2024) across the country, out of which 7373 (i.e. 93 %) are catering to rural areas. As a result of Government’s interventions, LPG access in India has improved from 62 % in April 2016 to near saturation now.

    This information was given by THE MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS SHRI SURESH GOPI, in a written reply in Rajya Sabha today.

    ****

    MONIKA

    (Release ID: 2111837) Visitor Counter : 33

    MIL OSI Asia Pacific News –

  • MIL-OSI: Diversified Achieves Strong Final Year-End 2024 Results, Delivers on Capital Allocation Promises, and Introduces 2025 Combined Company Outlook

    Source: GlobeNewswire (MIL-OSI)

    2024 Achievements Position Diversified on a Meaningful Path Forward as a Stronger and Larger Company

    Executed Approximately $2 Billion of Acquisitions in an Advantageous Pricing Environment

    Third year of Consistent Operating Costs Despite Broader Industry and Inflationary Pressures

    Maverick Integration Anticipated to Provide Meaningful Financial and Operational Benefits to Drive Free Cash Flow Acceleration

    Created a PDP Solution for Upstream Peers to Facilitate Operated Acquisitions with an Undeveloped Inventory Focus

    BIRMINGHAM, Ala., March 17, 2025 (GLOBE NEWSWIRE) — Diversified Energy Company PLC (LSE: DEC; NYSE: DEC) is pleased to announce its operational and final audited results for the year ended December 31, 2024.

    Diversified remains a differentiated key player in acquiring and building a portfolio of assets through value-accretive transactions while simultaneously unlocking hidden value through its unique operational framework, strategic development partnerships, and growing adjacent business segments, including coal mine methane (CMM), energy marketing and well-retirement. By completing over $4.0 billion of acquisitions since its public listing in 2017, Diversified has built a large-scale integration and operating company that remains focused on delivering de-risked, reliable cash flow for its shareholders. With the combination of maturing assets and M&A activity leading to growth-oriented E&P’s recycling capital through divestment, there remains an ample opportunity set for Diversified’s continued growth. Additionally, with most upstream acquisitions today focusing on increasing undeveloped inventory, Diversified provides a creative and actionable solution as the PDP purchasing partner for those E&P’s that only value inventory.

    Only Publicly Traded Champion of the PDP Subsector with Unique Strategic Advantages

    • Large Operational Scale: Multiple geographies in core basins including Western Anadarko (largest producer), Permian, Appalachia, Barnett and Ark-La-Tex with commodity product diversification
    • Vertical Integration: In-house marketing, extensive midstream network, wholly-owned processing infrastructure, and a well retirement business segment
    • Leading Technology Platform: 100% cloud architecture, supporting well level data capture, information for actionable production optimization, and real-time monitoring which mitigates production downtime
    • Beneficial Financing Solution: Demonstrated ability to access numerous capital solutions, including investment grade, low-cost Asset Backed Securities, commercial banking facilities and equity investment partners
    • Flexible Capital Allocation: shareholder returns-focused model prioritizing Free Cash Flow for systematic debt reduction, fixed dividend payments, opportunistic share repurchases, and accretive acquisitions
    • Proven Process to Capture Synergies: established integration playbook and sophisticated corporate infrastructure provides considerable expense savings and unlocks sustainable value

    Delivering Consistent and Reliable Results in 2024        

    • Delivered average net daily production: 791 MMcfepd (132 MBoepd)
      • December exit rate of 864 MMcfepd (144 MBoepd)
    • Year end 2024 reserves of 4.5 Tcfe (747 MMBoe; PV10 of $3.3 billion(b))
    • Total Revenue, inclusive of hedges of $946 million(e), net of $151 million in commodity cash hedge receipts that supplemented Total Revenue of $795 million
    • Operating Cash Flow of $346 million; Net loss of $87 million, inclusive of $141 million tax-effected, non-cash unsettled derivative fair value adjustments
    • Adjusted EBITDA of $472 million(c); Adjusted Free Cash Flow of $211 million(d)
      • 2024 Adjusted EBITDA Margin of 51%(c)
      • 2024 Adjusted Operating Cost per unit of $1.70/Mcfe ($10.22/Boe)

    Achieving Expectations

    • Recommend a final quarterly dividend of $0.29 per share
    • Generated $49 million of cash proceeds through land sales and Coal Mine Methane Revenues
    • Retired over $200 million in debt principal through amortizing debt payments
    • Returned $105 million to shareholders, including $21 million in share buybacks(h)
    • Completed $585 million (gross) in strategic and bolt-on acquisitions during 2024
    • Retired 202 Diversified wells in Appalachia, marking third consecutive year to exceed 200 wells
    • OGMP Gold Standard and MSCI AA Rating for third and second consecutive year, respectively
    • Decreased Scope 1 methane intensity to 0.7 MT CO2e per MMcfe, a 13% reduction from 2023

    Powerful Step Forward

    • Closed transformative $1.3 billion acquisition of Maverick Natural Resources (“Maverick”)
      • Largest Producer in the Western Anadarko Basin (WAB)
      • Entry into the Permian basin
      • Expecting to achieve over $50 million in annual synergies by year-end 2025
    • Closed the accretive bolt-on acquisition of assets from Summit Natural Resources
      • Anticipate over 300% increase in cash flow from CMM environmental credit sales in the next 24 months
    • Developed a unique partnership to create an innovative, reliable, net-zero data center power solution
    • Enhancing free cash flow growth in 2025 by advantageously added natural gas hedges (related to ABS & recent acquisitions) and planning approximately $40 million from the divestiture of undeveloped leasehold during the first half of 2025

    CEO Rusty Hutson, Jr. commented:

    “Our over 1,600 women and men of Diversified remain the driving force behind our strong operational and financial performance in 2024. Whether it’s natural gas to power the technology of the future or the everyday needs of families and businesses across our operating region, Diversified provides the reliable and sustainable energy needed, and we continue to invest in growing our business while expanding our opportunity set of cash flow generation through verticals in a variety of end markets.

    We have built a Company that remains highly focused on long-term value creation through the growth of our platform and our ability to leverage vertical integration and scale to operate a structurally and dependably higher-margin business that delivers de-risked, consistent cash flow. Our focused strategy, disciplined leadership team, sound operating practices, and the strong demand for natural gas provide us with momentum as we begin the year and the confidence to achieve our full-year 2025 expectations while executing against our capital allocation strategy. We are starting the year in a position of strength as a bigger, better business, and there has never been a more exciting time for our Company and the energy industry. We feel privileged to be at the heart of the energy renaissance as the Right Company at the Right Time to help provide essential energy needs.”

    Combined Company 2025 Outlook

    Following the recently completed acquisition of Maverick, Diversified expects to realize significant operational synergies associated with a larger, consolidated position in Oklahoma and the ability to improve the overall cost structure of the Maverick Natural Resources assets while continuing to prioritize returns and Free Cash Flow generation.

    The following outlook incorporates a nine-month contribution from the recently acquired Maverick.

      2025 Guidance
    Total Production (Mmcfe/d) 1,050 to 1,100
    % Liquids ~25%
    % Natural Gas ~75%
    Total Capital Expenditures (millions) $165 to $185
    Adj. EBITDA1 (millions) $825 to $875
    Adj. Free Cash Flow1 (millions) ~$420
    Leverage Target 2.0x to 2.5x
    Combined Company Synergies (millions) >$50
    1 Includes the value of anticipated cash proceeds for 2025 land sales
     

    Posting of 2024 Annual Report and Notice of Annual General Meeting

    Diversified has published to the Company’s website its 2024 Annual Report and Notice of AGM, along with the form of proxy for the AGM. These documents can be viewed or downloaded from Diversified’s website at https://ir.div.energy/financial-info.

    The Company has also provided copies of these documents to the National Storage Mechanism that, in accordance with UK Listing Rule 6.4.1R, will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

    Annual General Meeting Arrangements

    The Company’s AGM will be held on April 9, 2025 at 1:00pm BST (8:00am EDT) at the offices of FTI Consulting, 200 Aldersgate, Aldersgate Street, London EC1A 4HD.

    Presentation and Webcast

    DEC will host a conference call today at 12:30 pm GMT (8:30am EDT) to discuss these results. The conference call details are as follows:

    A corporate presentation will be posted to the Company’s website before the conference call. The presentation can be found at https://ir.div.energy/presentations.

    Footnotes:

    (a) Corporate decline rate of ~10% calculated as the change in average daily production for the month of December 2023 (775 MMcfepd), adjusted for the impact of acquisitions and divestitures occurring during the 2024 calendar year, to the average daily production for the month of December 2024.
    (b) Based on the Company’s year-end PDP reserves and using 10-year NYMEX strip, as at December 31, 2024.
    (c) Adjusted EBITDA represents earnings before interest, taxes, depletion, and amortization, and includes adjustments for items that are not comparable period-over-period; As presented, Adjusted EBITDA includes the impact of the accounting basis for land sales; Adjusted EBITDA Margin represents Adjusted EBITDA (excluding the adjustment for the accounting basis on land sales) as a percent of Total Revenue, Inclusive of Settled Hedges; For purposes of comparability, Adjusted EBITDA Margin excludes Other Revenue of $16 million and Lease Operating Expense of $19 million in 2024 associated with Diversified’s wholly owned plugging subsidiary, Next LVL Energy. For more information, please refer to Non-IFRS Measures, below.
    (d) Free Cash Flow represents net cash provided by operating activities less expenditures on natural gas and oil properties and equipment and cash paid for interest; As used herein, Adjusted Free Cash Flow represents Free Cash Flow, plus cash proceeds from undeveloped acreage sales; For more information, please refer to Non-IFRS Measures, below.
    (e) Calculated as total revenue recorded for the period, inclusive of the impact of derivatives settled in cash. For more information, please refer to Non-IFRS Measures, below.
    (f) Calculated as the availability on the Company’s Revolving Credit Facility (“SLL”) and cash on hand (unrestricted)of December 31, 2024; Does not include the impact of Letters of Credit.
    (g) Net Debt-to-Adjusted EBITDA, or “Leverage” or “Leverage Ratio,” is measured as Net Debt divided by Pro Forma Adjusted EBITDA; Pro forma adjusted EBITDA includes adjustments for the year ended December 31, 2024 for the annualized impact of acquisitions completed during the year. Net Debt calculated as of December 31, 2024 and includes total debt as recognized on the balance sheet, less cash and restricted cash; Total debt includes the Company’s borrowings under the Company’s Revolving Credit Facility (“SLL”) and borrowings under or issuances of, as applicable, the Company’s subsidiaries’ securitization facilities. For more information, please refer to Non-IFRS Measures, below.
       

    For Company-specific items, refer also to the Glossary of Terms and/or Alternative Performance Measures found in Diversified’s 2024 Annual Report

    For further information, please contact:  
    Diversified Energy Company PLC +1 973 856 2757
    Doug Kris dkris@dgoc.com
    www.div.energy  
       
    FTI Consulting dec@fticonsulting.com
    U.S. & UK Financial Public Relations  
       

    About Diversified Energy Company PLC

    Diversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

    Important Notices

    This announcement may contain certain forward-looking statements, beliefs or opinions, with respect to the financial condition, results of operations and business of the Company, and its wholly owned subsidiaries (“the Group”) following the Maverick Acquisition. These statements, which contain the words “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “will”, “seek”, “continue”, “aim”, “target”, “projected”, “plan”, “goal”, “achieve”, “outlook” and words of similar meaning, reflect the Company’s beliefs and expectations and are based on numerous assumptions regarding the Company’s present and future business strategies and the environment the Company and the Group will operate in and are subject to risks and uncertainties that may cause actual results to differ materially. No representation is made that any of these statements or forecasts will come to pass or that any forecast results will be achieved. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company or the Group to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company’s or the Group’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of regulators and other factors such as the Company’s or the Group’s ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which the Company or the Group operate or in economic or technological trends or conditions, and the Company’s or Group’s ability to realize expected benefits of the Maverick acquisition. Past performance of the Company cannot be relied on as a guide to future performance. As a result, you are cautioned not to place undue reliance on such forward-looking statements. The list above is not exhaustive and there are other factors that may cause the Company’s or the Group’s actual results to differ materially from the forward-looking statements contained in this announcement, including the risk factors described in the “Risk Factors” section in the Company’s Annual Report and Form 20-F for the year ended December 31, 2024, filed with the United States Securities and Exchange Commission.

    Forward-looking statements speak only as of their date and neither the Company, nor the Group nor any of its respective directors, officers, employees, agents, affiliates or advisers expressly disclaim any obligation to supplement, amend, update or revise any of the forward-looking statements made herein, except where it would be required to do so under applicable law. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements in this announcement may not occur. No statement in this announcement is intended as a profit forecast or a profit estimate and no statement in this announcement should be interpreted to mean that the financial performance of the Company for the current or future financial years would necessarily match or exceed the historical published for the Company.

    The contents of this announcement are not to be construed as legal, business or tax advice. Each shareholder should consult its own legal adviser, financial adviser or tax adviser for legal, financial or tax advice respectively.

    Percentages in tables have been rounded and accordingly may not add up to 100 per cent. Certain financial data have also been rounded. As a result of this rounding, the totals of data presented in this announcement may vary slightly from the actual arithmetic totals of such data.

    Use of Non-IFRS Measures

    Certain key operating metrics that are not defined under IFRS (alternative performance measures) are included in this announcement. These non-IFRS measures are used by us to monitor the underlying business performance of the Company from period to period and to facilitate comparison with our peers. Since not all companies calculate these or other non-IFRS metrics in the same way, the manner in which we have chosen to calculate the non-IFRS metrics presented herein may not be compatible with similarly defined terms used by other companies. The non-IFRS metrics should not be considered in isolation of, or viewed as substitutes for, the financial information prepared in accordance with IFRS. Certain of the key operating metrics are based on information derived from our regularly maintained records and accounting and operating systems.

    Non-IFRS Disclosures

    Adjusted EBITDA

    As used herein, EBITDA represents earnings before interest, taxes, depletion, depreciation, and amortization. Adjusted EBITDA further adjusts for items that are not comparable period-over-period, including accretion of asset retirement obligations, other (income) expense, loss on joint and working interest owners receivable, (gain) loss on bargain purchases, (gain) loss on fair value adjustments of unsettled financial instruments, (gain) loss on natural gas and oil property and equipment, costs associated with acquisitions, other adjusting costs, non-cash equity compensation, (gain) loss on foreign currency hedge, net (gain) loss on interest rate swaps and other similar items.

    Adjusted EBITDA should not be considered in isolation or as a substitute for operating profit (loss), net income (loss), or cash flows provided by (used in) operating, investing, and financing activities. However, we believe this measure is useful to investors in evaluating our financial performance because it (1) is widely used by investors in the natural gas and oil industry as an indicator of underlying business performance; (2) helps investors more meaningfully evaluate and compare the results of our operations from period to period by removing the often-volatile revenue impact of changes in the fair value of derivative instruments prior to settlement; (3) is used in the calculation of a key metric in one of our Credit Facility financial covenants; and (4) is used by us as a performance measure in determining executive compensation. When evaluating this measure, we believe investors also commonly find it useful to assess this metric as a percentage of our total revenue, inclusive of settled hedges, which we refer to as adjusted EBITDA margin.

      Year Ended
      December 31,
    2024    		 December 31,
    2023    		 December 31,
    2022
    Net income (loss) $ (87,001 ) $ 759,701   $ (620,598 )
    Finance costs   137,643     134,166     100,799  
    Accretion of asset retirement obligations   30,868     26,926     27,569  
    Other (income) expense(a)   (1,257 )   (385 )   (269 )
    Income tax (benefit) expense   (136,951 )   240,643     (178,904 )
    Depreciation, depletion and amortization   256,484     224,546     222,257  
    (Gain) loss on bargain purchases   —     —     (4,447 )
    (Gain) loss on fair value adjustments of unsettled financial instruments   189,030     (905,695 )   861,457  
    (Gain) loss on natural gas and oil properties and equipment(b)   15,308     4,014     93  
    (Gain) loss on sale of equity interest   7,375     (18,440 )   —  
    Unrealized (gain) loss on investment   4,013     (4,610 )   —  
    Impairment of proved properties(c)   —     41,616     —  
    Costs associated with acquisitions   11,573     16,775     15,545  
    Other adjusting costs(d)   22,375     17,794     69,967  
    Loss on early retirement of debt   14,753     —     —  
    Non-cash equity compensation   8,286     6,494     8,051  
    (Gain) loss on foreign currency hedge   —     521     —  
    (Gain) loss on interest rate swap   (190 )   2,722     1,434  
    Total adjustments $ 559,310   $ (212,913 ) $ 1,123,552  
    Adjusted EBITDA $ 472,309   $ 546,788   $ 502,954  
    Pro forma adjusted EBITDA(e) $ 548,570   $ 553,252   $ 574,414  
    1. Excludes $1 million in dividend distributions received for our investment in DP Lion Equity Holdco during the year ended December 31, 2024.
    2. Excludes $27 million, $24 million and $2 million in cash proceeds received for leasehold sales during the years ended December 31, 2024, 2023 and 2022, respectively, less $14 million and $4 million of basis in leasehold sales for the years ended December 31, 2024 and 2023, respectively.
    3. For the year ended December 31, 2023, the Group determined the carrying amounts of certain proved properties within two fields were not recoverable from future cash flows, and therefore, were impaired.
    4. Other adjusting costs for the year ended December 31, 2024, were primarily associated with legal and professional fees related to the U.S. listing, legal fees for certain litigation, and expenses associated with unused firm transportation agreements. For the year ended December 31, 2023, these costs were primarily related to legal and professional fees for the U.S. listing, legal fees for certain litigation, and expenses for unused firm transportation agreements. For the year ended December 31, 2022, these costs mainly included $28 million in contract terminations, which enabled the Group to secure more favorable future pricing, and $31 million in deal breakage and/or sourcing costs for acquisitions.
    5. Includes adjustments for the year ended December 31, 2024 for the Oaktree, Crescent Pass, and East Texas II acquisitions to pro forma their results for the full twelve months of operations. Similar adjustments were made for the year ended December 31, 2023 for the Tanos II Acquisition, as well as for the year ended December 31, 2022 for the East Texas I and ConocoPhillips acquisitions.

    Total Revenue, Inclusive of Hedges and Adjusted EBITDA Margin

    As used herein, total revenue, inclusive of settled hedges, accounts for the impact of derivatives settled in cash. We believe that total revenue, inclusive of settled hedges, is a useful measure because it enables investors to discern our realized revenue after adjusting for the settlement of derivative contracts.

    As used herein, adjusted EBITDA margin is calculated as adjusted EBITDA expressed as a percentage of total revenue, inclusive of settled hedges. Adjusted EBITDA margin encompasses the direct operating costs and the portion of general and administrative costs required to produce each Mcfe. This metric includes operating expense, employee costs, administrative costs and professional services, and recurring allowance for credit losses, which cover both fixed and variable costs components. We believe that adjusted EBITDA margin is a useful measure of our profitability and efficiency, as well as our earnings quality, because it evaluates the Group on a more comparable basis period-over-period, especially given our frequent involvement in transactions that are not comparable between periods.

      Year Ended
      December 31,
    2024    		 December 31,
    2023    		 December 31,
    2022
    Total revenue $ 794,841   $ 868,263   $ 1,919,349  
    Net gain (loss) on commodity derivative instruments(a)   151,289     178,064     (895,802 )
    Total revenue, inclusive of settled hedges $ 946,130   $ 1,046,327   $ 1,023,547  
    Adjusted EBITDA $ 472,309   $ 546,788   $ 502,954  
    Adjusted EBITDA margin   50 %   52 %   49 %
    Adjusted EBITDA margin, excluding Next LVL Energy   51 %   53 %   50 %
    1. Net gain (loss) on commodity derivative settlements represents the cash paid or received on commodity derivative contracts. This excludes settlements on foreign currency and interest rate derivatives, as well as the gain (loss) on fair value adjustments for unsettled financial instruments for each of the periods presented.

    Free Cash Flow

    As used herein, free cash flow represents net cash provided by operating activities, less expenditures on natural gas and oil properties and equipment, and cash paid for interest. We believe that free cash flow is a useful indicator of our ability to generate cash that is available for activities beyond capital expenditures. The Directors believe that free cash flow provides investors with an important perspective on the cash available to service debt obligations, make strategic acquisitions and investments, and pay dividends.

      Year Ended
      December 31,
    2024    		 December 31,
    2023    		 December 31,
    2022
    Net cash provided by operating activities $ 345,663   $ 410,132   $ 387,764  
    LESS: Expenditures on natural gas and oil properties and equipment   (52,100 )   (74,252 )   (86,079 )
    LESS: Cash paid for interest   (123,141 )   (116,784 )   (83,958 )
    Free cash flow $ 170,422   $ 219,096   $ 217,727  
    Cash generated through divestitures of land $ 40,986   $ 28,160   $ 2,472  
    Adjusted free cash flow $ 211,408   $ 247,256   $ 220,199  


    Net Debt and Net Debt-to-Adjusted EBITDA (“Leverage”)

    As used herein, net debt represents total debt as recognized on the balance sheet, minus cash and restricted cash. Total debt includes borrowings under our Credit Facility and borrowings under, or issuances of, our subsidiaries’ securitization facilities. We believe net debt is a useful indicator of our leverage and capital structure.

    As used herein, net debt-to-adjusted EBITDA, also referred to as “leverage” or the “leverage ratio,” is calculated by dividing net debt by adjusted EBITDA. We believe this metric is a crucial measure of our financial liquidity and flexibility, and it is also used in the calculation of a key metric in one of our Credit Facility financial covenants.

      As of
      December 31,
    2024    		 December 31,
    2023    		 December 31,
    2022
    Total debt(a) $ 1,693,242   $ 1,276,627   $ 1,440,329  
    LESS: Cash   5,990     3,753     7,329  
    LESS: Restricted cash(b)   46,269     36,252     55,388  
    Net debt $ 1,640,983   $ 1,236,622   $ 1,377,612  
           
    Adjusted EBITDA $ 472,309,000   $ 546,788,000   $ 502,954,000  
    Pro forma adjusted EBITDA(c) $ 548,570   $ 553,252   $ 574,414  
    Net debt-to-pro forma adjusted EBITDA(d) 2.9x
    		   2.2x
    		   2.4x
    		  
    1. Includes adjustments for deferred financing costs and original issue discounts, consistent with presentation on the Statement of Financial Position.
    2. The increase of restricted cash as of December 31, 2024, is due to the addition of $21 million and $3 million in restricted cash for the ABS VIII Notes and ABS IX Notes, respectively, offset by $7 million and $9 million for the retirement of the ABS III Notes and ABS V Notes, respectively.
    3. Includes adjustments for the year ended December 31, 2024 for the Oaktree, Crescent Pass, and East Texas II acquisitions to pro forma their results for the full twelve months of operations. Similar adjustments were made for the year ended December 31, 2023 for the Tanos II Acquisition, as well as for the year ended December 31, 2022 for the East Texas I and ConocoPhillips acquisitions.
    4. Excludes long-term plant financing of $30 million for the year ended December 31, 2024.

    The MIL Network –

  • MIL-OSI: Bitfarms Advances U.S. Strategy with Completion of Stronghold Digital Mining Acquisition

    Source: GlobeNewswire (MIL-OSI)

    -1.1 GW PA Growth Pipeline Strategically Located for HPC/AI and BTC Mining-
    – Positions Bitfarms as the leading Bitcoin miner in PJM market-

    This news release constitutes a “designated news release” for the purposes of the Company’s second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023.

    TORONTO, March 17, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global Bitcoin and vertically integrated data center company, today announced the successful completion of its previously announced acquisition of Stronghold Digital Mining, Inc. (“Stronghold” or “SDIG”).

    The acquisition of Stronghold yields the following benefits:

    Strategic MW Growth

    • Increases energy portfolio to 623 Megawatts Under Management (“MWuM”) with incremental 165 MW of active generating capacity and 142 MW of immediately available import capacity
    • Secures 1.1 GW growth pipeline in Pennsylvania, including current power generation capacity, current grid import capacity and future import capacity
    • PJM demand response programs anticipated to reduce overall electricity costs

    U.S. Portfolio Expansion

    • Rebalances year-end 2025 energy portfolio to 80% North American and 20% international

    Advancement of HPC/AI Strategy

    • Potential to develop two power campuses totaling nearly one gigawatt for HPC/AI
    • Strategic partners WWT and ASG prioritizing Stronghold sites for potential HPC/AI conversion

    EH Growth

    • Adds nearly 1 Exahash Under Management (“EHuM”) through existing Canaan hosting agreements with 50% profit split, bringing Bitfarms total to 18 EHuM
    • Previously announced Stronghold hosting agreements are now Bitfarms self-mining

    Ben Gagnon, Chief Executive Officer of Bitfarms, stated, “The completion of this strategic acquisition further expands our U.S. footprint and makes us the industry leader in the PJM market. With Stronghold’s portfolio of power assets, combined with our operational expertise and balance sheet strength, we are well positioned to create long-term value for our shareholders by executing on our US strategy and developing an HPC/AI business geared for scale. Our combined PJM pipeline, spanning three sites in Pennsylvania, totals over 1 GW with strategically located land, power and fiber that is well-suited for both HPC/AI and Bitcoin mining. This marks the start of an exciting new chapter for Bitfarms, and we’re thrilled to welcome the talented Stronghold team to write that chapter with us.”

    Transaction Details

    Bitfarms acquired Stronghold in a stock-for-stock merger pursuant to which Stronghold shareholders received 2.52 shares of Bitfarms for each share of Stronghold they own and Stronghold became a wholly-owned subsidiary of Bitfarms. Approximately 59,678,164 Bitfarms common shares and 10,574,848 Bitfarms warrants are being issued in connection with the consummation of the merger. In addition, approximately $44.5 million was paid at closing to retire outstanding Stronghold loans.

    In connection with the completion of the transaction, SDIG’s common stock ceased trading on Nasdaq prior to the opening of trading today.

    About Bitfarms Ltd.

    Founded in 2017, Bitfarms is a global Bitcoin and vertically integrated data center company that sells its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated mining facilities with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers.

    Bitfarms currently has 15 operating Bitcoin data centers in four countries: the United States, Canada, Paraguay, and Argentina. Powered predominantly by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com
    https://www.facebook.com/bitfarms/
    http://x.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Glossary of Terms

    • MWuM = Megawatts Under Management, the electrical capacity currently being utilized or available to utilize in Bitfarms data centers which includes immediately available grid import capacity and active generation capacity
    • EHuM = Exahash Under Management, which includes Bitfarms’ proprietary hashrate and hashrate being hosted by Bitfarms for third-party hosting clients
    • EH or EH/s = Exahash or exahash per second
    • MW or MWh = Megawatts or megawatt hour
    • HPC/AI = High Performance Computing / Artificial Intelligence
    • PJM = Pennsylvania-New Jersey-Maryland Interconnection

    Forward-Looking Statements

    This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The statements and information in this release regarding the positive impact of the Stronghold acquisition and the ability to gain access to additional electrical power and grow hashrate of the Stronghold business, target hashrate, opportunities relating to the Company’s geographical diversification and expansion, the merits of the rebalancing operations to North America and projected growth, the North American energy and compute infrastructure strategy, opportunities relating to the potential of the Company’s data centers for HPC/AI, performance of the plants and equipment upgrades and the impact on operating capacity including the target hashrate and multi-year expansion capacity, the opportunities to leverage Bitfarms’ proven expertise to successfully enhance energy efficiency and hashrate, and other statements regarding future growth, plans and objectives of the Company are forward-looking information. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “prospects”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.

    This forward-looking information is based on assumptions and estimates of management of the Company at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to: an inability to apply the Company’s data centers to HPC/AI opportunities on a profitable basis; a failure to secure long-term contracts associated with HPC/AI customers on terms which are economic or at all; the construction and operation of the Company’s facilities may not occur as currently planned, or at all; an inability to successfully integrate the business of Stronghold Digital Mining, Inc. as contemplated, or at all; expansion may not materialize as currently anticipated, or at all; the anticipated merits of the HPC/AI strategy, the benefits and programs of the PJM deregulated market and the objectives of diversification in general may not be realized as planned; efforts to improve and optimize the performance of equipment may not be successful; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company’s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company’s profitability; future capital needs and the ability to complete current and future financings, including Bitfarms’ ability to utilize an at-the-market offering program ( “ATM Program”) and the prices at which securities may be sold in such ATM Program, as well as capital market conditions in general; share dilution resulting from an ATM Program and from other equity issuances; the risk that a material weakness in internal control over financial reporting could result in a misstatement of the Company’s financial position that may lead to a material misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; any regulations or laws that will prevent Bitfarms from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca (which are also available on the website of the U.S. Securities and Exchange Commission at www.sec.gov), including the restated MD&A for the year-ended December 31, 2023, filed on December 9, 2024. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended, including factors that are currently unknown to or deemed immaterial by the Company. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law. Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange, Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

    Investor Relations Contacts:

    Tracy Krumme
    SVP, Head of IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contacts:

    Caroline Brady Baker
    Director, Communications
    cbaker@bitfarms.com

    The MIL Network –

  • MIL-OSI: Salary.com to Explore Pay Trends for 2025 and Beyond During This Week’s ADP Meeting of the Minds

    Source: GlobeNewswire (MIL-OSI)

    WALTHAM, Mass., March 17, 2025 (GLOBE NEWSWIRE) —

    WHO: David Turetsky, Vice President, Consulting at Salary.com, a leading provider of compensation market data and software
       
    WHAT: Will deliver “Pay Trends: 2025 and Beyond” during this week’s ADP Meeting of the Minds.
       
    WHEN: The event will take place Tuesday, March 18 – Friday, March 21, 2025. Turetsky will present on Wednesday, March 19, at 8:00 a.m. PT.
       
    WHERE: Resorts World
      3000 S Las Vegas Boulevard
      Las Vegas, Nev.
       
      For additional event information, including registration, click here.
       

    DETAILS:

    With a new administration in office, sweeping changes are already happening in the pay world – and quickly. For HR and compensation teams, the political, economic and social environment directly impacts how they pay employees and contractors, making it imperative that they stay abreast of what’s occurring at the state and federal level.

    During ADP Meeting of the Minds, David Turetsky, Vice President, Consulting at Salary.com, will consider how pay evolved in 2024 and where it is headed in 2025. Turetsky will examine regulatory and compliance issues around compensation and pay and discuss how shifting demographics drive new wage pressures. He’ll also look at the job market in different industries and how the winds of change may blow beyond 2025, offering insights into strategies to combat pay compression, tight budgets and new policies.

    For more information about ADP Meeting of the Minds, including how to register, click here.

    About Salary.com
    Salary.com has been helping organizations with human capital needs for over 25 years. The company leads the industry in compensation data, software, and services. More than 30,000 organizations in 30+ countries use Salary.com’s solutions to hire and retain talent and compete in a changing world. Salary.com provides over 10 billion data points across over 225 industries using a proprietary AI framework to ensure fair pay. The company’s main product, CompAnalyst®, helps organizations simplify hiring, reduce guesswork, and increase retention. Employee trust depends on fair pay, and Salary.com helps get it right. For additional information, please visit www.salary.com/business.

    The MIL Network –

  • MIL-Evening Report: You’ve heard of the Big Bang. Now astronomers have discovered the Big Wheel – here’s why it’s significant

    Source: The Conversation (Au and NZ) – By Themiya Nanayakkara, Lead Astronomer at the James Webb Australian Data Centre, Swinburne University of Technology

    The Big Wheel alongside some of its neighbours. Weichen Wang et al. (2025)

    Deep observations from the James Webb Space Telescope (JWST) have revealed an exceptionally large galaxy in the early universe. It’s a cosmic giant whose light has travelled over 12 billion years to reach us. We’ve dubbed it the Big Wheel, with our findings published today in Nature Astronomy.

    This giant disk galaxy existed within the first two billion years after the Big Bang, meaning it formed when the universe was just 15% of its current age. It challenges what we know about how galaxies form.

    What is a disk galaxy?

    Picture a galaxy like our own Milky Way: a flat, rotating structure made up of stars, gas and dust, often surrounded by an extensive halo of unseen dark matter.

    Disk galaxies typically have clear spiral arms extending outward from a dense central region. Our Milky Way itself is a disk galaxy, characterised by beautiful spiral arms that wrap around its centre.

    An artist impression of the Milky Way showcasing the dusty spiral structures similar to The Big Wheel.

    Studying disk galaxies, like the Milky Way and the newly discovered Big Wheel, helps us uncover how galaxies form, grow and evolve across billions of years.

    These studies are especially significant, as understanding galaxies similar to our own can provide deeper insights into the cosmic history of our galactic home.

    A giant surprise

    We previously thought galaxy disks form gradually over a long period: either through gas smoothly flowing into galaxies from surrounding space, or by merging with smaller galaxies.

    Usually, rapid mergers between galaxies would disrupt the delicate spiral structures, turning them into more chaotic shapes. However, the Big Wheel managed to quickly grow to a surprisingly large size without losing its distinctive spiral form. This challenges long-held ideas about the growth of giant galaxies.

    Our detailed JWST observations show that the Big Wheel is comparable in size and rotational speed to the largest “super-spiral” galaxies in today’s universe. It is three times as big in size as comparable galaxies at that epoch and is one of the most massive galaxies observed in the early cosmos.

    In fact, its rotation speed places it among galaxies at the high end of what’s called the Tully-Fisher relation, a well-known link between a galaxy’s stellar mass and how fast it spins.

    Remarkably, even though it’s unusually large, the Big Wheel is actively growing at a rate similar to other galaxies at the same cosmic age.

    The Big Wheel galaxy is seen at the centre. In striking contrast, the bright blue galaxy (upper right) is only about 1.5 billion light years away, making the Big Wheel roughly 50 times farther away. Although both appear a similar size, the enormous distance of the Big Wheel reveals its truly colossal physical scale.
    JWST

    Unusually crowded part of space

    What makes this even more fascinating is the environment in which the Big Wheel formed.

    It’s located in an unusually crowded region of space, where galaxies are packed closely together, ten times denser than typical areas of the universe. This dense environment likely provided ideal conditions for the galaxy to grow quickly. It probably experienced mergers that were gentle enough to let the galaxy maintain its spiral disk shape.

    Additionally, the gas flowing into the galaxy must have aligned well with its rotation, allowing the disk to grow quickly without being disrupted. So, a perfect combination.

    An illustration of how a massive spiral galaxy forms and evolves over billions of years. This evolutionary path is similar to real-world galaxies like Andromeda, our closest spiral galaxy neighbour, which also developed distinct spiral arms similar to the Big Wheel.

    A fortunate finding

    Discovering a galaxy like the Big Wheel was incredibly unlikely. We had less than a 2% chance to find this in our survey, according to current galaxy formation models.

    So, our finding was fortunate, probably because we observed it within an exceptionally dense region, quite different from typical cosmic environments.

    Besides its mysterious formation, the ultimate fate of the Big Wheel is another intriguing question. Given the dense environment, future mergers might significantly alter its structure, potentially transforming it into a galaxy comparable in mass to the largest ones observed in nearby clusters, such as Virgo.

    The Big Wheel’s discovery has revealed yet another mystery of the early universe, showing that our current models of galaxy evolution still need refinement.

    With more observations and discoveries of massive, early galaxies like the Big Wheel, astronomers will be able to unlock more secrets about how the universe built the structures we see today.



    Read more:
    From dead galaxies to mysterious red dots, here’s what the James Webb telescope has found in just 3 years

    Themiya Nanayakkara receives funding from Australian Research Council.

    – ref. You’ve heard of the Big Bang. Now astronomers have discovered the Big Wheel – here’s why it’s significant – https://theconversation.com/youve-heard-of-the-big-bang-now-astronomers-have-discovered-the-big-wheel-heres-why-its-significant-252170

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: Just two weeks to go for many businesses to submit 2024 packaging data for pEPR

    Source: United Kingdom – Executive Government & Departments

    Press release

    Just two weeks to go for many businesses to submit 2024 packaging data for pEPR

    Obligated businesses must submit 2024 packaging data by 1 April 2025 under new extended producer responsibility for packaging (pEPR) scheme

    There are now just two weeks to go for businesses to submit 2024 packaging data under the new extended producer responsibility for packaging (pEPR) scheme. 

    Under legislation which came into force on 1 January 2024, large organisations must submit their July-December 2024 data by 1 April. 

    Small organisations must submit their January-December 2024 data in one annual submission by 1 April. 

    In addition, all obligated organisations, large and small, must also register with their environmental regulator by the same date. Guidance on how to register can be found here. 

    The data producers provide will be crucial in helping to ensure fees are set at an appropriate level.

    The Government is grateful to all those in industry who have engaged closely with pEPR and already submitted extensive data, helping to finetune the policy. If obligated packaging producers have neither reported their data nor registered, they could face enforcement action.

    To check whether they need to report packaging data, businesses should visit EPR: who is affected and what to do and, if necessary, follow the online instructions to access the new Report Packaging Data service. 

    pEPR will move the cost of dealing with household packaging waste away from taxpayers onto the businesses who produce the packaging.  

    It will incentivise businesses to reduce unnecessary packaging and use more recycled and recyclable packaging, leading to less waste to landfill and reducing the release of damaging CO2 emissions. 

    Dr Margaret Bates, head of the UK pEPR scheme administrator PackUK, said:

    The need for an effective pEPR scheme that shifts the cost of managing household packaging waste to producers has never been more critical. 

    We urge all businesses to check their obligations under pEPR and to report their data and register with environment regulators by 1 April. 

    Together, we will deliver a fair and collaborative scheme that addresses the challenges of packaging waste and lays the foundation for a more sustainable and responsible approach to packaging.

    If a firm or a member of the public suspects a business is not complying with the regulations, they should report this to the regulators by contacting them directly via the details listed below.  

    To report via a 24-hour telephone service, call 0800 80 70 60 for England, Scotland, Northern Ireland and 0300 065 3000 for Wales. All reports are treated with strict confidentiality, with the option to report anonymously.

    Updates to this page

    Published 17 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Council secures more than £3.4 million funding for warmer homes

    Source: City of York

    Published Friday, 14 March 2025

    Council leaders have confirmed that City of York Council will receive more than £3.4 million of funding thanks to 2 separate grants.

    The funding, announced this week by the Department for Energy Security and Net Zero, will be used to upgrade around 280 homes over the next 3 years, to reduce carbon emissions and fuel poverty and improve the comfort and health of council homes.

    The first grant of around £1.4 million will be used to improve the energy efficiency of around 140 council homes via the Warm Homes: Social Housing Fund.

    The second grant of around £2 million will be used to improve the energy efficiency of around 140 homes for lower income homeowners through the Warm Homes: Local Grant Scheme.

    These works build on improving 73 council homes to which 141 energy-efficiency measures have been installed. And they add to the 211 homes of lower-income owners to which have been added 241 new energy efficiency measures. The measures include:

    • loft, flat roof, external wall and cavity wall insulation
    • air source heat pumps
    • smart heating controls
    • solar photovoltaic panels to generate electricity

    To support eligible owners and landlords of draughty, listed buildings or of homes in conservation areas, the council’s Local Energy Advice Demonstrator (LEAD) Project has given 452 pieces of advice since November 2023. This project’s funding ends on 31 March 2025, so find out more about the LEAD Home Energy Advice Scheme, or call 01904 555520 or email: saveenergy@york.gov.uk.

    Cllr Michael Pavlovic, Executive Member for Housing at City of York Council, said:

    We know that making York’s homes warmer and better insulated is a huge benefit to residents, financially and in terms of the positive impact on their wellbeing.

    “With rising energy costs and continued concerns around climate change, it’s essential that these improvements are made as soon as possible so that residents will see the benefits for years to come.

    “For free advice, assessment and coordination of energy saving measures, York residents who aren’t eligible for the LEAD scheme, should contact YorEnergy by calling 01904 211221 or emailing: hello@yorenergy.co.uk.”

    Further details about how to apply for the next phase of retrofit works will be announced as soon as possible. Meanwhile, see more information about home energy efficiency.

    An update on the council’s retrofit programme was discussed at Executive on Tuesday, 11 March 2025.

    MIL OSI United Kingdom –

  • MIL-OSI Banking: Panasonic forms the first capital and business alliance with tado°, an IoT-based home energy management platform provider, as a heating equipment manufacturer

    Source: Panasonic

    Headline: Panasonic forms the first capital and business alliance with tado°, an IoT-based home energy management platform provider, as a heating equipment manufacturer

    Osaka, Japan, March 17, 2025 – Panasonic Corporation today announced that its Heating & Ventilation A/C Company entered into an agreement to work with tado° GmbH, a German based vendor agnostic European leader in home energy management solutions for the first time*1 as a heating equipment manufacturer. Through a €30 million equity investment, Panasonic will strengthen its collaboration with tado°. Panasonic will also take a seat on tado°’s board, deepening operational collaboration to drive greater synergies and accelerate innovation.
    Air-to-water (A2W) heat pumps extract heat from the ambient air to produce hot water, which is then circulated throughout buildings for heating. Compared to fossil fuel-based heating systems, A2W significantly reduces CO2 emissions and environmental impact, attracting increasing public attention in recent years.
    Panasonic leveraged its over 60 years of expertise in heat pump technology to launch its Aquarea Heat Pumps for residential use in Europe in 2008. A key strength of Panasonic’s Aquarea is its unique ability to maintain heating performance even in extremely cold climates. In May 2023, Panasonic became the first Japanese manufacturer to adopt R290, a natural refrigerant with an ultra-low global warming potential, aligning with Europe’s strong environmental focus.
    In March 2024, Panasonic announced a business alliance with tado°, which is a leading vendor of Smart Thermostats (electronic device that remotely controls air-conditioning systems based on weather and temperature settings via an application), and also a provider of dynamic tariff in Europe. tado° is the industry’s leading start-up founded in 2011 with approximately one million household customers. It was nominated for the Tech Tour Growth 50 – List 2025*2 as a potential European unicorn company, demonstrating remarkable growth in recent years.
    Linking Panasonic’s A2W and tado°’s Smart Thermostats and Heat Pump Optimizer will optimally control the temperature and amount of hot water generated by A2W, reducing energy consumption by up to approximately 20% based on various information, including the room temperature, user’s temperature settings, weather, and electricity rate. Furthermore, through this capital and business alliance, both companies will collaborate to accelerate innovation in energy-efficient solutions. By sharing product and service specifications, Panasonic and tado° will jointly develop advanced operation control software for Panasonic Aquarea Heat Pumps. Utilizing real-world user data and field test insights, this software will enhance system efficiency and optimize performance. Scheduled for release via a software update in September 2025, it aims to achieve up to a 30% reduction in energy consumption.
    A recent survey of tado° customers in August 2024*3 revealed that approximately 75% of households still rely on gas or oil heating systems. Efforts to incorporate a Panasonic-specific design in tado°’s application are already underway, and the two companies will propose the unique combination of Panasonic’s A2W heat pump and tado° solutions by promoting joint marketing through the use of applications and direct mail and introducing Panasonic’s trusted installation partners.
    Through collaboration with tado°, Panasonic will contribute to achieving both a comfortable life and a sustainable global environment.

    Notes:
    *1: Regarding the capital and business alliance between tado° and a manufacturer of heating equipment, such as A2W and boilers. As of March 17, 2025, according to Panasonic’s research.
    *2: The Tech Tour Growth 50 Listing recognizes Europe’s most promising high-growth companies.
    *3: n = 12,495. The survey was conducted between August 2 and 19, 2024.

    MIL OSI Global Banks –

  • MIL-OSI Economics: Samsung Elevates Home Art Experiences With New Art Basel Hong Kong Collection

    Source: Samsung

    ▲ Zhu Jinshi’s This Triptych is as Gorgeous as the Autumn in a Scented Room (2023) shown on Neo QLED 8K by Samsung.
     
    Samsung Electronics, the Official Art TV of Art Basel, today announced that it is bringing contemporary masterpieces from galleries exhibiting at Art Basel Hong Kong 2025 to a global audience. Starting today, subscribers of the Samsung Art Store, a premium digital art platform exclusively available on Samsung TVs, will have access to a curated collection of 23 select works from Art Basel’s galleries, some of which will be displayed at the highly anticipated fair, taking place from March 28-30,1 2025 at the Hong Kong Convention & Exhibition Centre.
     
    The Samsung Art Store is home to 3,000+ works from world-renowned museums, galleries and artists. Subscribers can explore expertly curated masterpieces in stunning 4K resolution to bring the program of Art Basel galleries into their homes. The Art Basel Hong Kong collection includes renowned artworks such as Zhu Jinshi’s “This Triptych is as Gorgeous as the Autumn in a Scented Room,” Ticko Liu’s “Enduring as the Universe,” Jimok Choi’s “Shadow of the Sun,” Bae Yoon Hwan’s “Green Bear,” and more.
     
    “Samsung Art Store is making fine art more accessible than ever, bringing the premier artworks presented by leading international galleries at Art Basel Hong Kong directly into people’s homes,” said Bongjun Ko, Vice President of Samsung Electronics’ Visual Display Business. “We are proud to expand this experience to more Samsung TV owners worldwide, allowing them to enjoy world-class artwork in stunning 4K quality with just a few clicks.”
     
     
    Bringing the Art Basel Experience to Samsung TVs
    ▲ Ticko Liu’s Enduring as the Universe (2024) shown on Neo QLED 8K by Samsung.
     
    Art Basel stages the world’s premier art shows for modern and contemporary art, sited in Hong Kong, Basel, Paris and Miami Beach. Through the Samsung Art Store, a curated selection of these masterpieces is now available beyond the exhibition halls, allowing art lovers worldwide to experience select artworks presented by leading international galleries at Art Basel – all from the comfort of their homes.
     
    To further highlight the intersection of art and technology, Samsung will present an interactive lounge, titled ArtCube,2 at Art Basel Hong Kong on March 28-30. The showcase will demonstrate how The Frame, MICRO LED and Neo QLED 8K redefine digital art experiences by displaying artwork, including those from the Art Basel collection in breathtaking detail. Under the theme “Borderless, Dive into the Art,” ArtCube visitors will engage with Samsung Art Store’s exclusive collections, bridging the gap between physical and digital art.
     
    In addition to its ArtCube Lounge experience, Samsung presents a series of panel discussions highlighting influential voices from the contemporary art scene. Daria Greene, Head of Content and Curation at Samsung leads each engaging one-on-one dialogue. The conversations feature Hayley Romer, Chief Growth Officer of Art Basel, and Marc Dennis, an American artist known for his hyper-realistic paintings.
     
     
    Expanding Samsung’s Digital Art Leadership
    While previously exclusive to The Frame and MICRO LED, the Samsung Art Store will soon be available on 2025 Samsung AI-powered Neo QLED and QLED TVs,3 as part of Samsung’s mission to bring world-class art to an even bigger audience. In addition to the Art Basel Hong Kong collection, Samsung will continue its partnership with one of the world’s most prestigious art fairs by introducing exclusive artworks from Art Basel’s Basel and Paris collections later this year.
     
    “We are proud to partner with Samsung Art Store on the 2025 Art Basel Hong Kong collection – extending Art Basel Hong Kong’s best-in-class cultural experience beyond the halls of the show, and creating new, year-round opportunities for ever broader audiences to engage with Art Basel’s distinguished international program of galleries and their artists,” said Noah Horowitz, CEO of Art Basel.
     
    The Art Basel Hong Kong collection features works from 17 globally acclaimed artists, including Jimok Choi, Bae Yoon Hwan, Stephen Wong Chun Hei, Ticko Liu, Alasie Inoue, Tromarama, Damian Elwes, Zhu Jinshi, Nakai Katsumi, Cao Yu, Hamra Abbas, Nabil Nahas, Owen Fu, Sophie von Hellermann, Chow Chun Fai, Gillian Ayres and Gongkan.
     
    For more information, visit www.samsung.com.
     
     
    * The content has been revised to provide more accurate information.
     
     
    About Art Basel
    Founded in 1970 by gallerists from Basel, Art Basel today stages the world’s premier art shows for Modern and contemporary art, sited in Basel, Miami Beach, Hong Kong, and Paris. Defined by its host city and region, each show is unique, which is reflected in its participating galleries, artworks presented, and the content of parallel programming produced in collaboration with local institutions for each edition. Art Basel’s engagement has expanded beyond art fairs through new digital platforms including the Art Basel App and initiatives such as the Art Basel and UBS Global Art Market Report and the Art Basel Awards. Art Basel’s Global Lead Partner is UBS. For further information, please visit artbasel.com.
     
     
    1 Event is open to the public from March 28-30, after VIP opening from March 26-27.2 Samsung Lounge ‘ArtCube’ will be located in L3, the main exhibition floor inside the Hong Kong Convention and Exhibition Center.3 For models Q7F and above.

    MIL OSI Economics –

  • MIL-OSI Economics: Samsung To Showcase Diverse HVAC Solutions at ISH 2025 Under ‘Connected Flow’ Theme

    Source: Samsung

     
    Samsung Electronics today announced its participation in ISH 2025,1 the world’s leading trade fair for the sanitary and HVAC industries, to be held March 17-21 in Frankfurt. Samsung will showcase innovative solutions designed to enhance comfort, convenience and connectivity across residential and commercial environments.
     
    “This year marks our second time participating in ISH after our debut in 2023, and we’re excited to present more advanced products along with a variety of smart solutions such as SmartThings Pro and b.IoT Lite,2 that align with the ‘Connected Flow’ theme,” said Wim Vangeenberghe, Vice President of Samsung Electronics Air Conditioner Europe B.V. “It’s a meaningful opportunity to showcase our next-generation innovations and underline our commitment to delivering smarter living experiences.”
     
     
    Product Exhibition: Highlighting Advanced HVAC Solutions

     
    At ISH 2025, Samsung will display a wide array of systems and solutions, including Slim Fit EHS ClimateHub and Mono R290, touch controllers, Wi-Fi modules and other solutions. One of the key highlights will be the unveiling of the new Bespoke AI WindFree air conditioner models, which have been designed to elevate comfort and usability.
     
    The new Bespoke AI WindFree air conditioners for 2025 feature AI3 Fast & Comfort Cooling, which employs AI technology to provide rapid cooling and meet users’ preferences. When turning on the mode, Fast Cooling quickly lowers the room temperature first. AI technology then continuously analyzes the indoor and outdoor environments to detect if it’s reaching the user’s preferred temperature, and then it switches its mode into WindFree Cooling.
     

     
    Additionally, new Comfort Drying technology enables dehumidification without cold drafts. While conventional dry modes reduce the set temperature for dehumidification, Comfort Drying maintains a comfort humidity level under temperatures set by the user, satisfying customers who do not want to feel cold during dehumidification. Also, users can utilize AI Energy Mode in SmartThings application to reduce energy use by up to 30%.4 This is possible as the compressor’s rotating frequency is controlled by AI analysis, preventing sudden stops or increases.
     
     
    Design Excellence Recognized

     
    Samsung also announced that its Slim Fit EHS ClimateHub indoor units — the ClimateHub Mono and the Hydro Unit Mono5 — have won the prestigious Designplus Award in the “Water & Efficiency +” category at ISH 2025. This award acknowledges products that combine innovative design with technology, with a focus on new concepts that deliver added value through technological advancements.
     
    These models have a slim fit design6 that allows the product to be installed in various locations and coordinates with anywhere in the house. Despite the slim fit design, key components like magnetic filters, three-way valves and an expansion vessel for space heating are all included as standard features, which ensures timely installation. Moreover, they come with the 7” AI Home,7 an expansive screen that significantly improves convenience. It allows users to intuitively control the temperature and settings. Additionally, users can monitor the status and energy usage8 of connected solar photovoltaic (PV) systems using the zone overview, as well as control other SmartThings-connected appliances.9

     
     
    Seamless Integration: SmartThings Pro for Advanced Business Environment
    In line with the “Connected Flow” theme, Samsung will also demonstrate the benefits of smart solutions utilizing SmartThings Pro10 through various scenarios and spaces. Visitors will see how SmartThings Pro makes it easy to create a customized business environment with Samsung appliances and some third-party devices — like light bulbs and solar cells — and facilitates comprehensive energy monitoring across the entire home.
     
    Additionally, Samsung will showcase SmartThings Pro and b.IoT Lite for business environments and solutions for commercial spaces like hotels and retail stores. These solutions enhance operational efficiency, enabling smarter management of heating, cooling and energy consumption.
     
    Samsung remains committed to expanding its HVAC business globally and continue to innovate and provide innovative climate solutions to customers worldwide. Visitors to Samsung’s booth at ISH 2025 will have the opportunity to explore new products packed with these technologies, engage with representatives and experience the future of HVAC solutions firsthand.
     
     
    1 The “Internationale Sanitär- und Heizungsmesse” (ISH) translates from German to “International Sanitation and Heating Fair.”2 b.IoT Lite is an integrated control solution designed to optimize the operation of VRF systems in small to medium-sized buildings. As a server-based platform, it provides advanced functionality such as predictive maintenance and energy management.3 To use AI Auto Cooling, a Wi-Fi connection and Samsung account SmartThings are required.4 The testing was conducted in Samsung’s 132m² residential environment laboratory at a temperature of 35°C / 24°C (dry bulb/wet bulb, KS C 9306: air conditioner). Results provided to and interpreted by Intertek, comparing the power consumption between AI energy mode on and off in AI comfort mode of AR07D9181HZN model. Actual savings may vary by usage patterns and environment and the set temperature may increase by up to 2 degrees. Requires the use of the SmartThings App and a Samsung account.5 The ClimateHub Mono has an integrated water tank, while the Hydro Unit Mono is a wall-mounted unit without a water tank.6 Dimensions: ClimateHub Mono = 598(W) x 1,850(H) x 600(D) mm, Hydro Unit Mono = 530(W) x 840(H) x 350(D) mm.7 AI Home refers to the 7’’ LCD screen on the product. Does not mean all services available on the AI Home are AI or generate information or outcome using AI. Certain functions accessible through the AI Home utilize AI-based algorithms, which may be updated periodically to improve accuracy. AI-based algorithms may generate incomplete or incorrect information. A Wi-Fi connection and a Samsung account are required. You may need to use a separate device e.g. your laptop/desktop or mobile device, to create/log into a Samsung Account. If you choose not to log-in, you will not be able to enjoy any features available on AI Home, such as the services available on the SmartThings App.8 Requires a connection between the EHS and PV system and is activated using the PV function in AI Home.9 Requires a Samsung account. Appliances must be connected to the Wi-Fi network and registered in the SmartThings App.10 Must download the SmartThings app available on Android and iOS. A Wi-Fi connection and a Samsung account are required.

    MIL OSI Economics –

  • MIL-OSI Economics: Field Trials for PIMTO Mobile Robot Vending Service to be Conducted at Narita International Airport

    Source: Panasonic

    Headline: Field Trials for PIMTO Mobile Robot Vending Service to be Conducted at Narita International Airport

    March 17, 2025 – Panasonic Holdings Corporation (Panasonic HD), Mashup Inc. (Mashup), and Narita International Airport Corporation (NAA) today announced that they will conduct field trials using PIMTO, a mobile robot vending service, in the area after outbound passport control in Narita International Airport Terminal 1 for 10 days from March 21 to 30, 2025. The field trials will involve the sale of local specialty products, subculture items, and other products that highlight the charm of Japan to passengers departing from Narita Airport.
    Narita Airport serves as a hub airport in Asia with an extensive network connecting 120 cities—102 overseas and 18 in Japan. The annual number of foreign passengers using international flights in 2024 was 21.79 million, the highest since the airport opened. To study a potential new service for foreign passengers, whose numbers are expected to continue growing, the companies will conduct field trials using Panasonic HD’s PIMTO mobile robot vending service, which moves within the area near the boarding gates to sell products. The product lineup, developed in collaboration with Mashup, one of the companies operating the field trials, will feature local products and subculture items that provide a uniquely Japanese feel. The field trials aim to increase customer satisfaction by offering memorable purchasing experiences and appealing products to passengers, including foreign visitors to Japan, just before their departure from Narita Airport.

    Field trial period: From Friday, March 21 to Sunday, March 30, 2025
    * Field trials may be suspended due to unforeseen circumstances.
    Location: Narita International Airport Terminal 1 (Area after outbound passport control)Products: exclusive products available only at Narita Airport, local products, and subculture items that offer a uniquely Japanese feel

    PIMTO mobile robot vending service

    1. Utilization of unmanned vending robots

    Panasonic HD will provide mobile unmanned vending robots that can increase the number of sales outlets without requiring store construction or additional equipment installation. A variety of items that fit within the designated boxes can be sold, with payments accepted via credit cards, QR codes, and transportation IC cards. Since there is no need to continuously move robots around the airport, it was concluded that autonomous travel or advanced preparation for that purpose would not be necessary. Therefore, the robots will be operated solely through manual control using a wired controller connected to the robot or remote control, considering its cost advantages in terms of the robot units and service operations.In the field trials, the robots move to high-traffic areas depending on which boarding gates are in use, improving customer convenience and sales. The robots are basically operated by a wired controller, although remote control will also be tested.

    2. Proposal for experience design

    Robots (vending spots) that best suit the customers, location, and other circumstances are proposed.Based on marketing research, including identifying the needs of inbound visitors, the field trials use robots with creative features, such as control buttons and the robot’s appearance, allowing foreign customers to select products as if they were playing a game, and enhance their purchasing experience, as well as messages displayed on the robot’s body in 11 languages to attract passengers’ interest in their native language.

    3. Merchandising support

    Products that best suit the passengers, location, and other circumstances are proposed.For the field trials, Panasonic HD, Mashup, NAA, and gray park, Inc. collaborated to design a purchasing experience themed Wings & Wonders, aiming to increase customer satisfaction with the services near the departure gates. Based on this, a product lineup has been developed featuring original products available only at Narita Airport, local specialty products, 3D molded chocolates, and a wide range of subculture items rich in Japanese charm, such as soft vinyl figures, and capsule toys. A range of uniquely Japanese products will provide passengers a last-minute surprise and excitement just before departure.

    4. Contribution to supported employment

    Panasonic HD can collaborate with welfare facilities to achieve universal design from a work perspective, helping create an environment where people with disabilities or mental health concerns can participate in the operations of unmanned sales and other services.In the field trials, the remote operation of robots is outsourced to ASU-TRi, an employment transition support office in Kumamoto Prefecture, while product packaging is outsourced to Kujira Co., Ltd. a Type A employment continuation supporter in Shinjuku Ward, Tokyo. The product lineup also includes the Okinawa souvenir set, produced at welfare support facilities in Okinawa Prefecture and supplied by the Okinawa SELP Center Foundation.

    5. Provision of operational support application

    The PIMTO UI operational support application will be provided, enabling users to easily check sales status, receive sold-out notifications, play pre-recorded sounds from robots, and request remote operators to relocate the robot from any location.

    Inquiries:

    (Inquiries regarding the PIMTO mobile robot vending service)Panasonic Holdings CorporationMobility Business Strategy Officemobility_info@ml.jp.panasonic.com

    About the Panasonic Group
    Founded in 1918, and today a global leader in developing innovative technologies and solutions for wide-ranging applications in the consumer electronics, housing, automotive, industry, communications, and energy sectors worldwide, the Panasonic Group switched to an operating company system on April 1, 2022 with Panasonic Holdings Corporation serving as a holding company and eight companies positioned under its umbrella. The Group reported consolidated net sales of 8,496.4 billion yen for the year ended March 31, 2024. To learn more about the Panasonic Group, please visit: https://holdings.panasonic/global/

    MIL OSI Economics –

  • MIL-OSI Banking: Samsung Elevates Home Art Experiences With New Art Basel Hong Kong Collection

    Source: Samsung

    ▲ Zhu Jinshi’s This Triptych is as Gorgeous as the Autumn in a Scented Room (2023) shown on Neo QLED 8K by Samsung.
     
    Samsung Electronics, the Official Art TV of Art Basel, today announced that it is bringing contemporary masterpieces from galleries exhibiting at Art Basel Hong Kong 2025 to a global audience. Starting today, subscribers of the Samsung Art Store, a premium digital art platform exclusively available on Samsung TVs, will have access to a curated collection of 23 select works from Art Basel’s galleries, some of which will be displayed at the highly anticipated fair, taking place from March 28-30,1 2025 at the Hong Kong Convention & Exhibition Centre.
     
    The Samsung Art Store is home to 3,000+ works from world-renowned museums, galleries and artists. Subscribers can explore expertly curated masterpieces in stunning 4K resolution to bring the program of Art Basel galleries into their homes. The Art Basel Hong Kong collection includes renowned artworks such as Zhu Jinshi’s “This Triptych is as Gorgeous as the Autumn in a Scented Room,” Ticko Liu’s “Enduring as the Universe,” Jimok Choi’s “Shadow of the Sun,” Bae Yoon Hwan’s “Green Bear,” and more.
     
    “Samsung Art Store is making fine art more accessible than ever, bringing the premier artworks presented by leading international galleries at Art Basel Hong Kong directly into people’s homes,” said Bongjun Ko, Vice President of Samsung Electronics’ Visual Display Business. “We are proud to expand this experience to more Samsung TV owners worldwide, allowing them to enjoy world-class artwork in stunning 4K quality with just a few clicks.”
     
     
    Bringing the Art Basel Experience to Samsung TVs
    ▲ Ticko Liu’s Enduring as the Universe (2024) shown on Neo QLED 8K by Samsung.
     
    Art Basel stages the world’s premier art shows for modern and contemporary art, sited in Hong Kong, Basel, Paris and Miami Beach. Through the Samsung Art Store, a curated selection of these masterpieces is now available beyond the exhibition halls, allowing art lovers worldwide to experience select artworks presented by leading international galleries at Art Basel – all from the comfort of their homes.
     
    To further highlight the intersection of art and technology, Samsung will present an interactive lounge, titled ArtCube,2 at Art Basel Hong Kong on March 28-30. The showcase will demonstrate how The Frame, MICRO LED and Neo QLED 8K redefine digital art experiences by displaying artwork, including those from the Art Basel collection in breathtaking detail. Under the theme “Borderless, Dive into the Art,” ArtCube visitors will engage with Samsung Art Store’s exclusive collections, bridging the gap between physical and digital art.
     
    In addition to its ArtCube Lounge experience, Samsung presents a series of panel discussions highlighting influential voices from the contemporary art scene. Daria Greene, Head of Content and Curation at Samsung leads each engaging one-on-one dialogue. The conversations feature Hayley Romer, Chief Growth Officer of Art Basel, and Marc Dennis, an American artist known for his hyper-realistic paintings.
     
     
    Expanding Samsung’s Digital Art Leadership
    While previously exclusive to The Frame and MICRO LED, the Samsung Art Store will soon be available on 2025 Samsung AI-powered Neo QLED and QLED TVs,3 as part of Samsung’s mission to bring world-class art to an even bigger audience. In addition to the Art Basel Hong Kong collection, Samsung will continue its partnership with one of the world’s most prestigious art fairs by introducing exclusive artworks from Art Basel’s Basel and Paris collections later this year.
     
    “We are proud to partner with Samsung Art Store on the 2025 Art Basel Hong Kong collection – extending Art Basel Hong Kong’s best-in-class cultural experience beyond the halls of the show, and creating new, year-round opportunities for ever broader audiences to engage with Art Basel’s distinguished international program of galleries and their artists,” said Noah Horowitz, CEO of Art Basel.
     
    The Art Basel Hong Kong collection features works from 17 globally acclaimed artists, including Jimok Choi, Bae Yoon Hwan, Stephen Wong Chun Hei, Ticko Liu, Alasie Inoue, Tromarama, Damian Elwes, Zhu Jinshi, Nakai Katsumi, Cao Yu, Hamra Abbas, Nabil Nahas, Owen Fu, Sophie von Hellermann, Chow Chun Fai, Gillian Ayres and Gongkan.
     
    For more information, visit www.samsung.com.
     
     
    * The content has been revised to provide more accurate information.
     
     
    About Art Basel
    Founded in 1970 by gallerists from Basel, Art Basel today stages the world’s premier art shows for Modern and contemporary art, sited in Basel, Miami Beach, Hong Kong, and Paris. Defined by its host city and region, each show is unique, which is reflected in its participating galleries, artworks presented, and the content of parallel programming produced in collaboration with local institutions for each edition. Art Basel’s engagement has expanded beyond art fairs through new digital platforms including the Art Basel App and initiatives such as the Art Basel and UBS Global Art Market Report and the Art Basel Awards. Art Basel’s Global Lead Partner is UBS. For further information, please visit artbasel.com.
     
     
    1 Event is open to the public from March 28-30, after VIP opening from March 26-27.2 Samsung Lounge ‘ArtCube’ will be located in L3, the main exhibition floor inside the Hong Kong Convention and Exhibition Center.3 For models Q7F and above.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Samsung To Showcase Diverse HVAC Solutions at ISH 2025 Under ‘Connected Flow’ Theme

    Source: Samsung

     
    Samsung Electronics today announced its participation in ISH 2025,1 the world’s leading trade fair for the sanitary and HVAC industries, to be held March 17-21 in Frankfurt. Samsung will showcase innovative solutions designed to enhance comfort, convenience and connectivity across residential and commercial environments.
     
    “This year marks our second time participating in ISH after our debut in 2023, and we’re excited to present more advanced products along with a variety of smart solutions such as SmartThings Pro and b.IoT Lite,2 that align with the ‘Connected Flow’ theme,” said Wim Vangeenberghe, Vice President of Samsung Electronics Air Conditioner Europe B.V. “It’s a meaningful opportunity to showcase our next-generation innovations and underline our commitment to delivering smarter living experiences.”
     
     
    Product Exhibition: Highlighting Advanced HVAC Solutions

     
    At ISH 2025, Samsung will display a wide array of systems and solutions, including Slim Fit EHS ClimateHub and Mono R290, touch controllers, Wi-Fi modules and other solutions. One of the key highlights will be the unveiling of the new Bespoke AI WindFree air conditioner models, which have been designed to elevate comfort and usability.
     
    The new Bespoke AI WindFree air conditioners for 2025 feature AI3 Fast & Comfort Cooling, which employs AI technology to provide rapid cooling and meet users’ preferences. When turning on the mode, Fast Cooling quickly lowers the room temperature first. AI technology then continuously analyzes the indoor and outdoor environments to detect if it’s reaching the user’s preferred temperature, and then it switches its mode into WindFree Cooling.
     

     
    Additionally, new Comfort Drying technology enables dehumidification without cold drafts. While conventional dry modes reduce the set temperature for dehumidification, Comfort Drying maintains a comfort humidity level under temperatures set by the user, satisfying customers who do not want to feel cold during dehumidification. Also, users can utilize AI Energy Mode in SmartThings application to reduce energy use by up to 30%.4 This is possible as the compressor’s rotating frequency is controlled by AI analysis, preventing sudden stops or increases.
     
     
    Design Excellence Recognized

     
    Samsung also announced that its Slim Fit EHS ClimateHub indoor units — the ClimateHub Mono and the Hydro Unit Mono5 — have won the prestigious Designplus Award in the “Water & Efficiency +” category at ISH 2025. This award acknowledges products that combine innovative design with technology, with a focus on new concepts that deliver added value through technological advancements.
     
    These models have a slim fit design6 that allows the product to be installed in various locations and coordinates with anywhere in the house. Despite the slim fit design, key components like magnetic filters, three-way valves and an expansion vessel for space heating are all included as standard features, which ensures timely installation. Moreover, they come with the 7” AI Home,7 an expansive screen that significantly improves convenience. It allows users to intuitively control the temperature and settings. Additionally, users can monitor the status and energy usage8 of connected solar photovoltaic (PV) systems using the zone overview, as well as control other SmartThings-connected appliances.9

     
     
    Seamless Integration: SmartThings Pro for Advanced Business Environment
    In line with the “Connected Flow” theme, Samsung will also demonstrate the benefits of smart solutions utilizing SmartThings Pro10 through various scenarios and spaces. Visitors will see how SmartThings Pro makes it easy to create a customized business environment with Samsung appliances and some third-party devices — like light bulbs and solar cells — and facilitates comprehensive energy monitoring across the entire home.
     
    Additionally, Samsung will showcase SmartThings Pro and b.IoT Lite for business environments and solutions for commercial spaces like hotels and retail stores. These solutions enhance operational efficiency, enabling smarter management of heating, cooling and energy consumption.
     
    Samsung remains committed to expanding its HVAC business globally and continue to innovate and provide innovative climate solutions to customers worldwide. Visitors to Samsung’s booth at ISH 2025 will have the opportunity to explore new products packed with these technologies, engage with representatives and experience the future of HVAC solutions firsthand.
     
     
    1 The “Internationale Sanitär- und Heizungsmesse” (ISH) translates from German to “International Sanitation and Heating Fair.”2 b.IoT Lite is an integrated control solution designed to optimize the operation of VRF systems in small to medium-sized buildings. As a server-based platform, it provides advanced functionality such as predictive maintenance and energy management.3 To use AI Auto Cooling, a Wi-Fi connection and Samsung account SmartThings are required.4 The testing was conducted in Samsung’s 132m² residential environment laboratory at a temperature of 35°C / 24°C (dry bulb/wet bulb, KS C 9306: air conditioner). Results provided to and interpreted by Intertek, comparing the power consumption between AI energy mode on and off in AI comfort mode of AR07D9181HZN model. Actual savings may vary by usage patterns and environment and the set temperature may increase by up to 2 degrees. Requires the use of the SmartThings App and a Samsung account.5 The ClimateHub Mono has an integrated water tank, while the Hydro Unit Mono is a wall-mounted unit without a water tank.6 Dimensions: ClimateHub Mono = 598(W) x 1,850(H) x 600(D) mm, Hydro Unit Mono = 530(W) x 840(H) x 350(D) mm.7 AI Home refers to the 7’’ LCD screen on the product. Does not mean all services available on the AI Home are AI or generate information or outcome using AI. Certain functions accessible through the AI Home utilize AI-based algorithms, which may be updated periodically to improve accuracy. AI-based algorithms may generate incomplete or incorrect information. A Wi-Fi connection and a Samsung account are required. You may need to use a separate device e.g. your laptop/desktop or mobile device, to create/log into a Samsung Account. If you choose not to log-in, you will not be able to enjoy any features available on AI Home, such as the services available on the SmartThings App.8 Requires a connection between the EHS and PV system and is activated using the PV function in AI Home.9 Requires a Samsung account. Appliances must be connected to the Wi-Fi network and registered in the SmartThings App.10 Must download the SmartThings app available on Android and iOS. A Wi-Fi connection and a Samsung account are required.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Field Trials for PIMTO Mobile Robot Vending Service to be Conducted at Narita International Airport

    Source: Panasonic

    Headline: Field Trials for PIMTO Mobile Robot Vending Service to be Conducted at Narita International Airport

    March 17, 2025 – Panasonic Holdings Corporation (Panasonic HD), Mashup Inc. (Mashup), and Narita International Airport Corporation (NAA) today announced that they will conduct field trials using PIMTO, a mobile robot vending service, in the area after outbound passport control in Narita International Airport Terminal 1 for 10 days from March 21 to 30, 2025. The field trials will involve the sale of local specialty products, subculture items, and other products that highlight the charm of Japan to passengers departing from Narita Airport.
    Narita Airport serves as a hub airport in Asia with an extensive network connecting 120 cities—102 overseas and 18 in Japan. The annual number of foreign passengers using international flights in 2024 was 21.79 million, the highest since the airport opened. To study a potential new service for foreign passengers, whose numbers are expected to continue growing, the companies will conduct field trials using Panasonic HD’s PIMTO mobile robot vending service, which moves within the area near the boarding gates to sell products. The product lineup, developed in collaboration with Mashup, one of the companies operating the field trials, will feature local products and subculture items that provide a uniquely Japanese feel. The field trials aim to increase customer satisfaction by offering memorable purchasing experiences and appealing products to passengers, including foreign visitors to Japan, just before their departure from Narita Airport.

    Field trial period: From Friday, March 21 to Sunday, March 30, 2025
    * Field trials may be suspended due to unforeseen circumstances.
    Location: Narita International Airport Terminal 1 (Area after outbound passport control)Products: exclusive products available only at Narita Airport, local products, and subculture items that offer a uniquely Japanese feel

    PIMTO mobile robot vending service

    1. Utilization of unmanned vending robots

    Panasonic HD will provide mobile unmanned vending robots that can increase the number of sales outlets without requiring store construction or additional equipment installation. A variety of items that fit within the designated boxes can be sold, with payments accepted via credit cards, QR codes, and transportation IC cards. Since there is no need to continuously move robots around the airport, it was concluded that autonomous travel or advanced preparation for that purpose would not be necessary. Therefore, the robots will be operated solely through manual control using a wired controller connected to the robot or remote control, considering its cost advantages in terms of the robot units and service operations.In the field trials, the robots move to high-traffic areas depending on which boarding gates are in use, improving customer convenience and sales. The robots are basically operated by a wired controller, although remote control will also be tested.

    2. Proposal for experience design

    Robots (vending spots) that best suit the customers, location, and other circumstances are proposed.Based on marketing research, including identifying the needs of inbound visitors, the field trials use robots with creative features, such as control buttons and the robot’s appearance, allowing foreign customers to select products as if they were playing a game, and enhance their purchasing experience, as well as messages displayed on the robot’s body in 11 languages to attract passengers’ interest in their native language.

    3. Merchandising support

    Products that best suit the passengers, location, and other circumstances are proposed.For the field trials, Panasonic HD, Mashup, NAA, and gray park, Inc. collaborated to design a purchasing experience themed Wings & Wonders, aiming to increase customer satisfaction with the services near the departure gates. Based on this, a product lineup has been developed featuring original products available only at Narita Airport, local specialty products, 3D molded chocolates, and a wide range of subculture items rich in Japanese charm, such as soft vinyl figures, and capsule toys. A range of uniquely Japanese products will provide passengers a last-minute surprise and excitement just before departure.

    4. Contribution to supported employment

    Panasonic HD can collaborate with welfare facilities to achieve universal design from a work perspective, helping create an environment where people with disabilities or mental health concerns can participate in the operations of unmanned sales and other services.In the field trials, the remote operation of robots is outsourced to ASU-TRi, an employment transition support office in Kumamoto Prefecture, while product packaging is outsourced to Kujira Co., Ltd. a Type A employment continuation supporter in Shinjuku Ward, Tokyo. The product lineup also includes the Okinawa souvenir set, produced at welfare support facilities in Okinawa Prefecture and supplied by the Okinawa SELP Center Foundation.

    5. Provision of operational support application

    The PIMTO UI operational support application will be provided, enabling users to easily check sales status, receive sold-out notifications, play pre-recorded sounds from robots, and request remote operators to relocate the robot from any location.

    Inquiries:

    (Inquiries regarding the PIMTO mobile robot vending service)Panasonic Holdings CorporationMobility Business Strategy Officemobility_info@ml.jp.panasonic.com

    About the Panasonic Group
    Founded in 1918, and today a global leader in developing innovative technologies and solutions for wide-ranging applications in the consumer electronics, housing, automotive, industry, communications, and energy sectors worldwide, the Panasonic Group switched to an operating company system on April 1, 2022 with Panasonic Holdings Corporation serving as a holding company and eight companies positioned under its umbrella. The Group reported consolidated net sales of 8,496.4 billion yen for the year ended March 31, 2024. To learn more about the Panasonic Group, please visit: https://holdings.panasonic/global/

    MIL OSI Global Banks –

  • MIL-OSI Global: Many of history’s deadliest building fires have been in nightclubs. Here’s why they’re so dangerous

    Source: The Conversation – Global Perspectives – By Milad Haghani, Associate Professor & Principal Fellow in Urban Risk & Resilience, The University of Melbourne

    A fire at a nightclub in North Macedonia has killed at least 59 people and injured more than 150. The blaze broke out at the Pulse nightclub in Kočani, where around 500 people were attending a concert.

    Witnesses reported that pyrotechnics used during the performance ignited the ceiling, causing flames to spread rapidly.

    Authorities have arrested 20 people so far, including the club’s manager. Investigations continue. The North Macedonian government has declared a seven-day mourning period.

    While building fires are not limited to nightclubs, many of the most devastating building fires in history have happened in nightclubs around the world. So why are nightclubs such a risky place for deadly fires?

    A long history of nightclub fires

    A look at past nightclub fires shows just how common and deadly they’ve been in the past 100 years. We identified at least 24 nightclub fires where ten or more people died since 1940.

    Collectively, these 24 incidents account for at least 2,800 deaths, with nearly 1,300 in the 21st century alone.

    The Cocoanut Grove fire (Boston, 1942) remains the deadliest on record, killing 492 people. The club’s flammable decorations and locked exits turned what should have been an ordinary night out into one of the worst fire disasters in history.

    In Argentina, the República Cromañón fire killed 194 people in 2004, caused by pyrotechnics igniting flammable materials inside the club.

    The Kiss nightclub fire in Brazil in 2013 was even deadlier, claiming 242 lives.

    More recently, Thailand’s Mountain B nightclub fire killed 23 people in 2022.

    And in 2023, 13 people died in a fire at the Fonda Milagros nightclub in Spain.

    Now, North Macedonia’s Pulse nightclub joins this long list.

    Why are nightclubs so risky for fires?

    A review of past nightclub fires we’ve collated in our database reveals common patterns. Two key factors have contributed to the frequency and severity of these fire disasters.

    1. Pyrotechnics, fireworks and flammable materials

    One of the most common causes of nightclub fires has been the use of pyrotechnics in enclosed spaces. Pyrotechnics are controlled chemical reactions designed to produce flames, smoke, or light effects.

    They have been involved in at least six of the deadliest nightclub fires, including the recent Pulse nightclub fire in North Macedonia, as well as The Station (United States, 2003), Kiss (Brazil, 2013), Colectiv (Romania, 2015), Lame Horse (Russia, 2009) and República Cromañón (Argentina, 2004).

    When used indoors, pyrotechnics can easily ignite flammable ceiling materials, acoustic foam, or decorations.

    In some cases, fireworks – which are different from stage pyrotechnics and sometimes illegally used indoors – have played a role. The Lame Horse nightclub fire, which killed 156 people in Russia in 2009, was caused by a spark from fireworks igniting a low ceiling covered in flammable plastic decorations.

    Even when fires don’t start from pyrotechnics or fireworks, the materials used in nightclub interiors can rapidly turn a small fire into a major disaster.

    Foam insulation, wooden panelling, plastic decorations and carpeted walls have all been key factors in past nightclub fires. In Cocoanut Grove (Boston, 1942), artificial palm trees and other flammable decorations accelerated the blaze.

    2. Overcrowding and blocked or insufficient exits

    Evacuation failures have been a factor in nearly every major nightclub fire.

    In some instances, crowds may not immediately recognise the severity of the situation, especially if they mistake alarms for false alarms or special effects (for example, smoke machines, loud music).

    Further, patrons could be intoxicated due alcohol or other drugs. Intoxication combined with potential disorientation due to dim lighting can further reduce judgement during an evacuation.

    Clearly, the best way to protect patrons is to prevent a fire from breaking out in the first place. But in settings where fire risks are inherently high, the ability to evacuate people swiftly is crucial.

    Nightclubs, however, have a poor track record when it comes to evacuation safety measures.

    Nightclubs are among the most crowded indoor spaces. While crowd density is part of a nightclub’s design and atmosphere, overcrowding beyond legal capacity is common.

    A crowd that has gradually gathered over several hours must suddenly evacuate in seconds or minutes to survive a fire. This is made more difficult by narrow hallways and limited exits, which quickly become bottlenecks when hundreds of people attempt to escape at once.

    What’s more, not all exits are always accessible during a fire. In several past nightclub disasters, locked or obstructed emergency exits have significantly worsened the death toll.

    Minimising the risks

    Nightclubs are uniquely vulnerable to fires due to a combination of structural risks, unsafe materials, overcrowding and regulatory failures.

    While human behaviour plays a role in how fires unfold in confined spaces such as nightclubs, people should be able to go for a night out and expect to come home safely.

    Regulatory oversight must ensure strict compliance with fire codes. Venues should have fire suppression systems (such as sprinklers, fire extinguishers and smoke detectors) to control or contain fires before they spread, and adequate exits.

    Nightclubs should ban indoor pyrotechnics and fireworks, as history has repeatedly shown their deadly consequences.

    Capacity limits must be enforced, and emergency exits should always be accessible.

    Australia has strict fire safety regulations for nightclubs, with venues required to have fire suppression systems, emergency exits and trained staff to manage fire risks.

    Public awareness is also key. Patrons need to understand the real risk of fires in nightclubs, and be prepared to evacuate swiftly but calmly if danger arises.

    Ruggiero Lovreglio receives funding from Royal Society Te Apārangi (NZ) and National Institute of Standards and Technology (USA).

    Milad Haghani does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Many of history’s deadliest building fires have been in nightclubs. Here’s why they’re so dangerous – https://theconversation.com/many-of-historys-deadliest-building-fires-have-been-in-nightclubs-heres-why-theyre-so-dangerous-252372

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Radical action plan to cut red tape and kickstart growth

    Source: United Kingdom – Executive Government & Departments

    News story

    Radical action plan to cut red tape and kickstart growth

    The Chancellor will meet top regulator bosses in Downing Street today (Monday 17 March) as she unveils an action plan to deliver on the pledge to cut the administrative cost of regulation on business by a quarter, make Britain the best place to do business and drive economic growth.

    • Chancellor meets regulators in Downing Street as she unveils action plan to cut red tape as part of Plan for Change to kickstart economic growth.

    • Radical shake up will boost infrastructure building by simplifying guidance to protect bat habitats that blocks vital new homes and infrastructure.

    • Business to save billions as more regulators are axed and core legal duties are streamlined.

    • Action plan comes alongside 60 growth-boosting measures from watchdogs designed to make it easier to do business in the UK and delivers on the Prime Minister’s pledge to cut administration costs for businesses by a quarter.

    The radical shake up will cut costly red tape that fails to deliver for local communities, such as hundreds of pages of guidance on protecting bat habitats – which goes far beyond legal requirements, needlessly costs businesses money and slows down planning decisions for major infrastructure projects.  

    A streamlined process for environmental regulations will also be put in place for major projects. This could include Lower Thames Crossing, subject to planning approval, as well as future schemes like Heathrow expansion. The new system will require just one point of contact and will end the merry-go-round of developers seeking planning approvals from multiple authorities who often disagree with each other.  

    This Action Plan will save businesses across the country billions of pounds by cutting the number of regulators, streamlining their core legal duties and cracking down on complexity in the regulatory system. 

    The Plan comes after the Prime Minister set out his vision for a more lean and agile state in a speech last week, abolishing the world’s biggest quango – NHS England – to scrap duplication and give more power and tools to local leaders so they can better deliver for their communities. The Prime Minister and Chancellor are clear that regulators must work for the people of Britain, not get in the way of progress.  

    Following weeks of intense negotiations, watchdogs have signed up to 60 growth boosting measures – including:  

    • Fast-tracking new medicines to market through a new pilot to provide parallel authorisations from key healthcare regulators, so that patients can access the medicine they need quicker;

    • Attracting more investment from international financial services firms by setting up a bespoke ‘concierge service’ to help them get to grips with UK regulations, making it easier to do business in the UK;

    • Paving the way for package deliveries by drone, as the Civil Aviation Authority permits at least two more large drone-flying trials in the coming months – which have already helped cut travel times for blood samples from 30 minutes down to 2 minutes between hospitals – and streamlines the regulatory process for manufacturing drones;

    • Allowing families to manage their spending safely as the Financial Conduct Authority reviews contactless payment limits, including the £100 cap on individual payments, while speeding up queues at checkout.

    • Support for homeownership as the Financial Conduct Authority simplifies mortgage lending rules, including making it easier to re-mortgage with a new lender and reduce mortgage terms.

    • Helping start-ups secure funding to grow through the Financial Conduct Authority issuing more notices where they are likely to approve applications from budding entrepreneurs.

    The government will continue to work closely with regulators to ensure they are regulating for growth, not just risk. Cabinet Ministers will report back to the Chancellor in the summer with further suggestions for streamlining the regulatory landscape and better regulation will be a key part of the upcoming Modern Industrial Strategy.    

    Chancellor of the Exchequer Rachel Reeves said: 

    “The world is changing and that’s why we must go further and faster to deliver on our Plan for Change to kickstart economic growth. Today we are taking further action to free businesses from the shackles of regulation. By cutting red tape and creating a more effective system, we will boost investment, create jobs and put more money into working people’s pockets.”  

    Business and Trade Secretary Jonathan Reynolds said: 

    “Unnecessary regulation chokes competition and stifles business – that’s why we’re taking action to unleash industry right across the UK to go for growth.  

    “With a regulatory system that encourages innovation and economic growth combined with our Industrial Strategy, our Plan for Change can make the UK the best place to startup, invest and thrive.”  

    Further pro-business measures announced today include cutting red tape that blocks new housing and infrastructure.  

    It should not be the case that to convert a garage or outbuilding you need to wade through hundreds of pages of guidance on bats.  Environmental guidance, including on protecting bats, will be looked at afresh. Natural England has agreed to review and update their advice to Local Planning Authorities on bats to ensure there is clear, proportionate and accessible advice available.  

    We will make it simpler and faster for projects to agree environmental permits, in some case removing them altogether for low-risk and temporary projects, putting an end to delays that can slow down decisions needed to get spades in the ground. Combined with the appointment of a single lead environmental regulator, this will speed up approvals and save businesses millions in time and resource.    The government will also consult on allowing regulators to be more agile in making sensible decisions on which low-risk activities should be exempt from environmental permits. This will allow them to focus on high-impact, high-priority areas, such as low-carbon infrastructure – while ensuring nature protections are not weakened.    

    These come alongside action to crack down on complexity in the UK regulatory system, with the Chancellor promising to significantly cut the number of regulators by the end of the Parliament to reduce overlap.    

    Regulators will be summoned for performance reviews twice a year from the relevant Secretary of State and will be judged against a set of targets agreed with the businesses they affect, which could how quickly they make decision on planning applications and new licenses for businesses and products. The regulators will immediately begin discussing these targets with businesses and publish them by June. 

    Following the decision to primarily consolidate the Payment Systems Regulator into the Financial Conduct Authority, the Regulator for Community Interest Companies will be folded into Companies House to avoid duplicative disclosure requirements for companies which provide a benefit to their community. Cabinet ministers will report back to the Chancellor by the summer with further suggestions to cut numbers and create a more effective system.  

    Major regulators will also have their legal duties slimmed down, so that they do not waste time satisfying redundant duties that do not align with their core purpose or the public’s priorities. This work will begin with the financial services regulators, energy watchdog Ofgem, water regulator Ofwat and the Office for Road and Rail.  

    The Treasury will also explore ways to streamline financial services regulators’ ‘have regards’ to improve predictability and business confidence. The role of the Financial Ombudsman Service will also be reviewed to ensure that it is acting as an impartial service that provides quick and predictable resolutions to disputes – not as a quasi-regulator.   

    The new system will also support businesses to innovate instead of putting obstacles in the way, led by Lord Willetts as Chair of the Regulatory Innovation Office (RIO). The RIO works with businesses and regulators to embed a pro-innovation regulatory system that enables ground-breaking new technologies to reach the market quicker.   

    The RIO is focused on ensuring regulation supports transformative applications of emerging technologies, for example using AI to improve the efficiency and accuracy of radiology reporting, and the use of engineering biology by world leading UK companies developing innovative foods like lab grown meats.  

    Stakeholder quotes: 

    Rain Newton-Smith, CEO of the CBI, said:   

    “The UK’s Gordian knot of regulations hinders investment with compliance costs that are too high, leaving us trailing the international competition. Today’s announcement signals a shift towards a more proportionate, outcomes based approach that should deliver more sustainable growth and investment.  

    “Smart, proportionate regulation could be the UK’s international calling card once more, bringing confidence and easing the burden on many sectors.   

    “This announcement builds on the welcome commitment from the Prime Minister to reduce the thicket of regulation, and it is critical that this approach is reflected across the board including finding a landing zone for the Employment Rights Bill that supports growth, investment, and jobs.” 

    Irene Graham OBE, CEO of the ScaleUp Institute, said: 

    “It is excellent to see the Government turning its Plan for Change into real practical action. 

    “Scaling businesses have long cited infrastructure constraints and regulatory hurdles as hampering their growth. The practical initiatives set out in this Action Plan on planning reforms, the fast tracking, simplifying and streamlining of regulatory approvals and processes, and the emergence of concierge services should collectively have a significant impact in propelling the growth of these innovative firms forward across every sector and local economy.  

    “We look forward to continuing to work with the government on the next steps of this pro-growth regulatory agenda.” 

    David Postings, Chief Executive of UK Finance, said: 

    “We need a regulatory environment that supports investment and is internationally competitive. I’ve been delighted to see the progress already made by government and regulators, who are listening to the ideas put forward by UK Finance and industry and taking bold action. Today’s announcement builds on that progress, most notably reviewing how the Financial Ombudsman Service operates. It currently acts as a quasi-regulator, which was not the original intention, and addressing this issue is a key one for our sector. I look forward to continuing to work with the government to ensure financial services helps deliver growth up and down the country.” 

    Debbie Crosbie, CEO of Nationwide, said: 

    “I welcome the government’s decisive action to deliver better regulation. Clear and predictable rules will help firms focus on growth and innovation for the benefit of consumers. The target to reduce the administrative cost of regulation by 25% could make a meaningful difference to the regulatory burden and economic growth.”  

    Craig Beaumont, Executive Director of the Federation of Small Businesses, said: 

    “Today’s announcement shows the Chancellor is willing to put in the hard yards to let businesses do what they do best. Business owners are not bureaucrats. The delays, time wasting and sheer stress from having to handle layers of poorly designed regulation makes it harder and harder for small businesses to grow, generate jobs and provide for their customers. 

    “Every month a project might be delayed makes it harder to go ahead, and every second wasted on unnecessary forms is time away from business, staff and family. We have made clear recommendations to CEOs of the regulators visiting No.10 today, to transform regulation so they help, not hinder, small business growth and investment.  This is a necessary pre-condition for increasing living standards, building a stronger economy and creating new jobs.” 

    Shevaun Haviland, Director General of the British Chambers of Commerce, said: 

    “This is an eye-catching package of measures which has a real potential to speed up decision-making and give businesses more certainty. 

    “Changes that would fast-track major infrastructure projects, such as the Lower Thames Crossing and Heathrow expansion, are especially welcome. 

    “Over half of firms tell us they are planning to raise prices, and with fresh uncertainty around tariffs, a 25 percent cut in the cost of regulation would be very welcome.” 

    Notes to editors 

    • The Action Plan can be found here. This sets out the strategic vision and actions that will be taken to create a regulatory system that drives growth while continuing to protect millions of people.

    • Regulators in attendance at the meeting:

    • Financial Conduct Authority

    • Prudential Regulation Authority

    • Environment Agency

    • Natural England

    • Medicines and Healthcare products Regulatory Agency

    • Health and Safety Executive

    • Information Commissioner’s Office

    • The Regulatory Innovation Office

    Updates to this page

    Published 17 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: First meeting of Great British Energy board members

    Source: United Kingdom – Executive Government & Departments

    Press release

    First meeting of Great British Energy board members

    Inaugural meeting of the Great British Energy start-up board takes place in Aberdeen to drive the UK’s clean energy future.

    • Great British Energy start-up board meet for the first time in Aberdeen 

    • Publicly owned company will drive forward the government’s Plan for Change and clean energy superpower mission, backed by £8.3 billion  

    Great British Energy’s start-up board members will meet in Aberdeen today (Monday 17 March) to discuss scaling up the company and kickstarting investments, to deliver the government’s Plan for Change and clean energy superpower mission. 

    Great British Energy is owned by the British people, for the British people, and will own and invest in clean energy projects across the UK to create good, skilled jobs and growth.    

    Energy Minister Michael Shanks will convene the meeting alongside Start-up Chair Juergen Maier and interim CEO Dan McGrail to discuss next steps for the organisation and building up an investment portfolio that will return a profit for the British people. 

    Great British Energy has already begun engaging with the market on potential collaborations to ensure it can quickly start delivering for the British taxpayer once it is fully established, backed by £8.3 billion over this Parliament.  

    Energy Minister Michael Shanks said: 

    We now have a fantastic team in place to lead Great British Energy and establish the company in Aberdeen. 

    By unlocking homegrown clean power projects, Great British Energy will support thousands of well-paid jobs in Scotland and across the country, and deliver energy security for the British people. 

    Today’s meeting of the new board members marks another step forward for the company as it gears up to make its first investments. 

    Great British Energy Start-up Chair Juergen Maier said: 

    We are working on a plan to invest in and deliver homegrown clean power, supporting the next generation of energy jobs.  

    We are already engaging with industry on exciting investment opportunities so we can hit the ground running once Great British Energy is fully established. 

    Together we will back British innovation and support the creation of thousands of jobs in clean energy projects and their supply chains in the North East of Scotland alone. 

    Interim Great British Energy CEO Dan McGrail said: 

    Great British Energy is perfectly placed to take advantage of the clean energy revolution for the benefit of the British people. As I take up post as interim CEO today, I’m pleased to bring our new board members together in Aberdeen to discuss our plans to invest in secure, homegrown clean power – unleashing jobs and crowding in private investment. 

    It follows the appointment of the interim CEO, five non-executive directors, and chair to the company’s start-up board. On Tuesday 18 March, Juergen Maier will convene a skills roundtable to work with industry to help oil and gas workers in north-east Scotland access opportunities in clean energy jobs. The roundtable is due to be attended by organisations including Skills Development Scotland, Scottish Trades Union Congress, Green Free Ports Cromarty and Leith, ETZ Ltd and Aberdeen & Grampian Chambers of Commerce.  

    Background

    Great British Energy start-up board members include: 

    • Chair of Great British Energy Juergen Maier 

    • Interim CEO of Great British Energy Dan McGrail 

    • Minister for Energy Michael Shanks 

    • Non-Executive Directors of Great British Energy: 

    • Frances O’Grady  

    • Frank Mitchell  

    • Kate Gilmartin  

    • Dr. Nina Skorupska CBE FEI  

    • Valerie Todd CBE

    Updates to this page

    Published 17 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Council supports Food Waste Action Week to help residents reduce waste and save money

    Source: City of Derby

    Derby City Council has teamed up with Love Food Hate Waste for this year’s Food Waste Action Week, running from Monday 17 to Sunday 23 March,  to encourage residents to reduce their food waste and save money. Every year, a staggering 9.5 million tonnes of food ends up in the bin – wasting money and valuable resources. Food Waste Action Week is the flagship annual event delivered by WRAP’s Love Food Hate Waste, providing households with simple, practical ways to cut food waste at home.

    This year’s campaign highlights the benefits of buying loose fruit and vegetables – helping people purchase only what they need, reduce food waste, and unnecessary plastic packaging.  With food waste costing the average family of four around £1,000 per year, small changes like this can make a huge difference. By adopting these measures, households can reduce waste, save money, and contribute to a more sustainable food system.

    Jackie Bailey, Senior Campaign Manager Love Food Hate Waste, said:

    We know buying loose fruit and veg has the potential to significantly cut the amount of food ending up in the bin – now is the time for retailers and shoppers to make that a reality. Increasing loose fruit and veg offerings in store will not only reduce hard to recycle plastics, it will also enable shoppers to buy closer to their needs, slashing waste and stopping tens of thousands of tonnes of CO2 emissions.

    Councillor Ndukwe Onuoha, Cabinet Member for Streetpride, Public Safety and Leisure said:

    As a Council, we recognise the importance of reducing food waste and encourage everyone in Derby to take part in this campaign. With budgets tighter than ever, every penny saved makes a difference. Choosing loose fruit and vegetables not only helps cut costs but also reduces plastic waste and supports environmental protection, benefiting the whole community.

    The Food Waste Action Week runs from 17 to 23 March 2025 and if you want to find out more, you can visit the WRAP’s Love Food Hate Waste website.

    MIL OSI United Kingdom –