03 Sep 08 News Global

What's in a name?

Mainstream Renewable Power is the name of the company which we set up in February. The name was thought up by Carol, the wife of our Chief Financial Officer, Fintan Whelan.

At first we liked it, then we loved it.

The world of electricity generation is in transition; in transition from the use of fossil fuels and uranium as primary power sources to using sustainable natural resources as the fundamental sources of energy.

These fuels which have been fundamental to the creation of modern society are peaking. Oil from conventional sources has been static at 74 million barrels/day since 2005. The balance of demand has been made up from unconventional sources such as tar sands, liquids in gas fields and bio-fuels. (11.5 million barrells a day).

The markets have got the price right at $125/barrell. Although $25 is accounted for by the weak dollar, the price in constant dollars would be $100 – still a massive real increase.

This price is actually too low. If oil were accounted for as other commodities are then the price would be North of $200/barrel.

So renewable are going to be the new sustainable way of making electricity. They will be mainstream.

There is this once off transition from fossils/nuclear to renewables. What could be more appropriate than to call our new company Mainstream Renewable Power.

On a more human side, I was speaking with one of our young developers, Rachel Drury. She made the point that it was tremendous to work in a company with a great unified sense of purpose. Everyone helping everyone else. All doing the right thing. We agreed that it was great to be around at this stage of a company and that it would probably change as huge success happened.

But then the real question is, how many of all the people at work get to experience the buzz of working in a great team doing something that is so right.