The generating giants will feel the pain of a market backlash

Power cuts have apparently started over the recent cold, calm and dull week as evidenced by Otto Inglis describing his experience in Fife (Letters, November 20).

The Prime Minister at the G20 in Brazil in recent days has backed the declaration reaffirming signatory countries’ commitments to achieve net zero emissions by 2050 and to significantly increase renewable energy by 2030.

It is worth pausing for a moment to consider the state of health of our leading energy companies operating within the UK to align with this undertaking.

Citi Investment Bank on October 25 downgraded shares in Scottish and Southern Energy to “sell” and in the month since its shares have fallen by circa 10%.

It can be argued that as a consequence this explains why the shares in all of the other big generating companies within the UK have also fallen, varying from circa 2% for Iberdrola which own Scottish Power to circa 13% in the case of E.ON Next. OVO is a private company and is not publicly traded.

Why has this occurred?

It appears that the banks are aware of the problems inherent in our politicians trying to max out our electricity supply system by deploying renewables and are becoming increasingly averse to the associated risks. The result is that generating companies are likely to find it becoming more difficult and expensive to raise capital for renewables investment.

As Margaret Thatcher said, “you cannot beat the market”, and more than any other lever the streetwise capital markets might ultimately dictate the direction of travel for the UK energy system rather than our technologically illiterate politicians.

DB Watson, Cumbernauld.

Read more letters

• Be prepared for power cuts, reminders of the madness of net zero
• Why can't they see our electricity system is based on a fantasy?

Harm caused by Covid policies

YOU report Jeane Freeman as saying that the Scottish Government ''prioritised risk from Covid'' over other considerations" for months after the pandemic began ("Health 'was put before policy", The Herald, November 20), I assumed the measures were reserved to Westminster; Holyrood was, after all, singing from Boris Johnson's hymn sheet.

But then, aha, the whole thing was politicised: for the SNP and the odious Keir Starmer, whatever No 10 did, it wasn't enough. The health damage and misery caused, especially to primary kids, by Nicola Sturgeon et al is well-nigh incalculable. And unpardonable, says this Covid-vaccine refusenik.

George Morton, Rosyth.

The myths of George Square

DONALD Gillies (Letters, November 18) has to be thanked for revealing the truth about what happened in Glasgow at the alleged Battle of George Square, especially as his account is supported by contemporary evidence. This provides a factual background which is of interest in its own context although the description of Glasgow as an occupied city might be seen as somewhat over the top and the reliability of "photographic evidence" is queried below.

However, I have been concerned less with the events that did happen than with those alleged events which did not happen but which, in later years, came to be reported as historical fact even to the extent of being taught as such in Scottish schools (see Duties in Aid of the Civil Power; The deployment of the Army to Glasgow 31 January to 17 February 1919 by Gordon J Barclay).

According to one untruthful account from a Scottish Government agency “Winston Churchill dispatched English troops and tanks against a large demonstration in George Square”. That simply did not happen. There was no hostile engagement of any sort between Scottish civilians and British soldiers.

Also, the schools National Curriculum 4 and 5 included an image of a tank described as having been brought in to quell the unrest in Glasgow but that image was proved in 2018 to have been made a year prior to the George Square incident and to have shown a veteran "Julian" tank in a fund-raising parade for the war effort. There were no tanks in George Square.

Mr Barclay’s research tells of many accounts of the tanks and troops having been sent into George Square against the demonstrators with "orders to kill" or with the tanks "ordered to fire on the strikers", and of people having been injured or killed. This was all quite fictitious and did not happen in real life.

These false embellishments upon the factual background reported by Donald Gilles appear to have emerged for political advantage from the 1950s onwards. One can only hope and trust that any historians, politicians and other agencies and fellow travellers associated with these false constructions will come to be valued accordingly and to achieve appropriate public disregard.

Michael Sheridan, Glasgow.

Jeane Freeman (Image: PA)

Why no Robert the Bruce stamps?

I NOTE that a set of Royal Mail stamps will be issued to celebrate the the 150th anniversary of Winston Churchill’s birth ("Royal Mail issues set of eight new stamps to mark 150th anniversary of Winston Churchill’s birth", The Herald, November 20).

Robert the Bruce was arguably Scotland’s greatest King. He left an enduring legacy that shaped the course of Scotland’s history and he was one of the great strategists of European medieval history.

Why is the Royal Mail not issuing a set of stamps to commemorate the 750th birth of King Robert the Bruce and to mark his indelible historical significance?

Graham Sutherland, Edinburgh.

Long live the Ryder Cup

I WOULD totally disagree with John Jamison (Letters, November 20) re the Ryder Cup when he says "I must say I never got the Ryder Cup hype". As a golfer and avid sports viewer, I consider that watching the event is one of the main highlights of the year, with matchplay the most exciting form of golf. I also hope that Team Europe never seek payment for participating.

Derrick Petrie, Milngavie.