Energy suppliers exposed to nearly £2bn debt as households struggle with bills
Energy suppliers may be exposed to around £1.9 billion in debt, much of which could be unrecoverable, as households struggle to pay soaring energy bills.
Grid & Retail
Energy-saving efforts ‘critical gap’ in UK’s response to soaring bills – report
Efforts to help homes save energy - including information campaigns - have been a "critical gap" in the Government's response to soaring bills, a report has warned.
National Grid puts coal power on standby to meet UK cold snap
Grid manager National Grid ESO has put two coal-fired power plants on standby in the event that energy supplies are disrupted by a wave of cold weather gripping the UK.
Tax, energy policy must make electricity cheaper than gas: CCC boss
The head of the Climate Change Committee (CCC) says government policy must focus on efficiency and ensure electricity is cheaper than gas in a bid to “transform the economics of low-carbon heat”.
Energy suppliers stall Bulb sale again with fresh UK court bid
The UK’s sale of Bulb Energy to Octopus Energy faces further delays as rivals plan to challenge the UK government’s decision in court, according to lawyers for the bust supplier’s administrators.
‘Massive milestone’ as first 100km of Shetland Link now complete
The first 100km of a new subsea cable linking Shetland with the UK’s mainland grid has been successfully installed following a four-month campaign.
North Sea power cable repays its carbon cost in just six months
National Grid says its North Sea Link interconnector to Norway has boosted UK energy security and paid for its own carbon costs after just six months in operation.
Nicola Sturgeon to chair second energy summit in two months
First Minister Nicola Sturgeon will chair the second summit with energy industry leaders in less than two months on Thursday.
UK opens £40 Billion emergency programme for strained energy firms
The UK is opening applications for as much as £40 billion of funding to energy traders to stave off a worsening liquidity crisis.
Sir Keir Starmer pledges publicly-owned energy company
A Labour government will create a publicly-owned energy company within its first year in office, Sir Keir Starmer has announced.
UK Government steps in to discount energy prices for businesses
The UK government has set out plans to cover half the expected rise in wholesale energy prices in a bid to soften the impact on businesses and non-domestic energy users.
Nearly one in four ‘won’t turn on heating this winter’ as energy bills soar
Nearly one in four adults plan never to turn their heating on this winter, polling suggests, as average bills are set to rocket while the temperature drops.
Centrica to donate 10% of British Gas profits to help at-risk customers
Energy group Centrica said it will donate 10% of the profits made by its British Gas retail arm to vulnerable customers, though only a fraction of bill payers are likely to benefit.
UK bills will hit nearly £3,600 from October, experts say in final prediction
Families face a grim winter as experts predict the cap on energy bills will hit close to £3,600 per year from October - before rising again next year.
First Minister plans “urgent summit” with energy cos and consumers
Nicola Sturgeon is to convene a summit between energy supply companies and consumer groups later in August to discuss what support can be offered to those struggling to pay soaring bills.
UK energy bills set to peak above £500 as Russia cuts gas
UK households are set to see record energy prices this winter as Russia clamps down on Europe’s gas supplies, aggravating Britain’s cost-of-living crisis.
Sunak to cut VAT on energy to revive UK Tory leadership bid
Rishi Sunak pledged to scrap value added tax on all domestic energy bills for the next year if he becomes UK prime minister, a move his leadership rival, Liz Truss, criticized as a U-turn.
HYPREP talks up Ogoniland power connection within 12 months
The Hydrocarbon Pollution Remediation Project (HYPREP) is working on a plan to connect Ogoniland to the Nigerian power grid, in an extension of its original focus on remediating polluted lands.
Building out green grids to save Africa, and the world
Green grids and international renewable energy are the only way to save Africa – and the world – with the alternative being a “climate abyss”.
‘We’re hybridising everything’: Amp Energy and the future of energy storage
As Scotland and the UK look to source ever-greater amounts of energy from renewables like solar and wind, equal efforts must be made across the country’s grid infrastructure to ensure that energy can be moved to where it’s needed most – or, increasingly, stored for later if it can’t.
Thousands ‘condemned’ to cold, draughty homes: Energy Strategy draws ire for lack of efficiency measures
Politicians and campaigners have criticised the government’s Energy Security Strategy for apparently overlooking energy efficiency and demand reduction measures in favour of large-scale nuclear and fossil fuel projects.
The Essential Guide to Suriname Energy Investment
The Suriname-Guyana basin continues to be a focal point for hydrocarbon exploration and development, as evidenced by CGX Energy’s recent discovery at the Corentyne block, in line with Suriname’s Block 58. Indeed as frontier E&P remains at a comparatively low ebb, this represents one of few global hotspots, with an estimated 16bn barrels of recoverable resources discovered to date.
Masdar considers ScotWind opportunities and beyond
Masdar did not win a piece of the ScotWind action this week, but the company is keenly interested in further offshore wind opportunities in the UK.
Winch Energy races against time to deliver solar power
To make real progress in bringing power to those without in sub-Saharan Africa, interested parties will have to provide much more cash.
Shell buys Australian energy retailer, eyes cleaner electricity
Shell (LSE:RDSA) said today that it will acquire Powershop Australia, an online energy retailer serving more than 185,000 customers, as it positions itself for the energy transition in Australia.