Britain is unlikely to enjoy favourable winter weather as Russia’s gas cuts usher in an expensive heating season, forecasters said on Monday.
The prediction comes despite an unusually warm October that has eased energy costs in parts of Europe.
Austria and Switzerland on Monday reported their hottest October on record, after Germany’s gas use plunged during a warm spell.
But the weather in the months to come will determine how bad the crisis gets, whether power cuts become necessary, and how much Europe's gas stocks are depleted by the spring.
The weather in Ukraine is also being closely watched for signs of how snow, mud and ice will affect Russian President Vladimir Putin’s troops.
The impact of Russia’s energy games on the rest of Europe will depend not just on the heat but the wind, which can produce more than half the UK’s electricity on a gusty day.
However, a three-month forecast released by the Met Office on Monday said neither the temperature nor the wind is likely to play in Britain’s favour.
The chance of an unusually cold season is 30 per cent higher than normal, whereas a mild winter is less likely than usual.
Meanwhile, a windy season is 50 per cent less likely than usual, with November and December expected to be unusually calm.
“For the whole country, the likelihood of impacts from strong winds is decreased as compared to typical risks for the season,” the Met Office said.
“With chances of a cold season being greater than a mild one, impacts from wintry weather are more likely than seen in recent years.”
Unlike many European countries, Britain has held back from urging its citizens to save energy this winter.
Energy bills are rising by about 27 per cent under a guaranteed price scheme that expires in April.
In Germany, where ministers are stepping in with up to €200 billion ($199bn) of subsidies, an energy-saving drive has paid off in a warm autumn.
Household gas use was down by 40 per cent in the most recent weekly figures, exceeding a Europe-wide target of 15 per cent.
It came as German temperatures were 2.5ºC higher than normal in the third week of October.
Switzerland said on Monday that its October weather was the warmest in 158 years of records and 3.7ºC above the average from 1991 to 2020.
The Alpine city of Chur recorded a temperature of 25.4ºC on Sunday, while many places in Britain reached 20ºC or more at the weekend.
In Austria, the mountain weather was the warmest since records began in 1853, while the lowlands had their hottest October since 1795.
Parts of southern Spain saw 35ºC weather this month, and France was 4ºC above average for nine straight days.
The warm spell was credited with reducing European gas prices from their summer peak.
A spokesman for Austrian company Energie Steiermark told broadcasters that energy costs were down an estimated 50 per cent in October.
Storage tanks being filled earlier than expected — with Germany’s already at 98 per cent of capacity — has also calmed markets.
Environmentalists have been quick to say that a warm October is nothing to celebrate because it reflects a warming planet.
The Met Office said its predictions were affected by climate change reducing the likelihood of a very cold winter.
Nonetheless, when one member of the European Parliament described the autumn heat as typically spooky for the month, Klaus Mueller, the head of Germany’s power grid regulator said: “But it helps to save energy.”
Challenged on how this squared with Germany’s climate goals, he said: “Just saying the truth.”
Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
4) Try not to close the sale at night
5) Don't be rushed into a sale
6) Call 901 if you see any suspicious behaviour
The biog
Name: Dhabia Khalifa AlQubaisi
Age: 23
How she spends spare time: Playing with cats at the clinic and feeding them
Inspiration: My father. He’s a hard working man who has been through a lot to provide us with everything we need
Favourite book: Attitude, emotions and the psychology of cats by Dr Nicholes Dodman
Favourit film: 101 Dalmatians - it remind me of my childhood and began my love of dogs
Word of advice: By being patient, good things will come and by staying positive you’ll have the will to continue to love what you're doing
Fixtures
Tuesday - 5.15pm: Team Lebanon v Alger Corsaires; 8.30pm: Abu Dhabi Storms v Pharaohs
Wednesday - 5.15pm: Pharaohs v Carthage Eagles; 8.30pm: Alger Corsaires v Abu Dhabi Storms
Thursday - 4.30pm: Team Lebanon v Pharaohs; 7.30pm: Abu Dhabi Storms v Carthage Eagles
Friday - 4.30pm: Pharaohs v Alger Corsaires; 7.30pm: Carthage Eagles v Team Lebanon
Saturday - 4.30pm: Carthage Eagles v Alger Corsaires; 7.30pm: Abu Dhabi Storms v Team Lebanon
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
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First Person
Richard Flanagan
Chatto & Windus
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
TOURNAMENT INFO
Women’s World Twenty20 Qualifier
Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November
UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi