Kwarteng questions if windfall tax will end
Former Chancellor Kwasi Kwarteng has raised doubts following Wednesday’s Autumn Budget as to whether the windfall tax on oil and gas profits will ever end.
Kwasi Kwarteng
Calls for clarity after government shelves plans to repeal IR35 rules
Westminster is being told it must do more to support the “entire flexible labour market” after dropping plans to repeal IR35 tax rules.
Kwasi Kwarteng sacked as Chancellor after just six weeks
Chancellor Kwasi Kwarteng has been sacked after just six weeks in the role.
Reversal of ‘onerous’ IR35 laws will ‘unlock potential’ of contractors
Employment and tax experts have roundly hailed the Chancellor’s shock pledge to scrap contentious IR35 reforms.
North Sea windfall tax forecast to raise £2bn more than originally thought
Proceeds from the UK Government’s windfall tax are expected to top £7 billion this year, about £2bn more than originally thought.
‘Huge victory for contractors’ as Kwarteng pledges to repeal IR35 tax rules
The Chancellor has pledged to repeal controversial changes to off-payroll working laws in a bid to boost the labour market.
Chancellor Kwasi Kwarteng to go for ‘cycle of growth’ in UK mini budget
Kwasi Kwarteng will pledge to "turn the vicious cycle of stagnation into a virtuous cycle of growth" as he sets out the UK Government's mini-budget on Friday.
Chancellor told by devolved governments not to pass energy costs to households
Devolved governments in Scotland, Wales and Northern Ireland have urged the Chancellor not to pass the cost of an energy cap on to struggling families.
UK energy users could save £26bn on renewables profit cap
British energy consumers could save £26 billion ($30 billion) over the next two years, nearly £950 per household, through a government plan to cap profits of existing wind and solar farms in exchange for long-term price certainty.
UK plans to cap renewables’ profits amid rising energy costs
The UK government plans to offer fixed-price contracts to existing renewable-energy producers as a way to blunt the impact of soaring power costs on households this winter, according to people familiar with the discussions.
NSTA gives Centrica green light to reopen Rough gas storage site
Centrica (LON: CNA) has been given the go-ahead by the industry regulator to reopen the Rough gas storage site off the coast of England.
Centrica signs £7bn deal for US LNG supplies
Centrica has signed up to purchase LNG from a new US supplier, working on an ambitious offshore project, in a move backed by Secretary of State for Business and Energy Secretary Kwasi Kwarteng.
Cerulean, Ping sign deal to secure floating wind for Avalon
Cerulean Winds and Ping Petroleum UK have signed a new agreement that would create one of the UK’s first oil and gas facilities powered almost exclusively by offshore wind.
Government urged to shed light on ‘Track 2’ timeline following CCS report
UK Government is being urged to give urgent clarity about future support for carbon capture and storage (CCS) projects.
Kwarteng meeting with North Sea oil firms on windfall tax
UK business secretary Kwasi Kwarteng will meet with North Sea oil and gas producers today to discuss the government’s windfall tax.
Government go-ahead for new nuclear power station
A multibillion-pound project to build a new nuclear power station has been given the go-ahead, more than two years after plans were first submitted.
UK government approves 8GW of offshore wind from fourth leasing round
The Crown Estate has been cleared to sign lease agreements for more than 8 gigawatts (GW) of new fixed-bottom offshore wind projects off England and Wales as part of Leasing Round 4.
BEIS consults on biggest reforms to electricity market in a decade
The UK government has launched a “transformational” review into the nation’s electricity market, which could see sweeping reforms to electricity pricing, procurement and storage.
From windfall tax to transition deal: Johnson’s energy record as PM heads for the door
Like much of his tenure as Prime Minister, Boris Johnson’s relationship with the energy sector has been somewhat rocky.
Fourth UK CfD round secures 11GW of new renewables capacity
The UK’s Department for Business, Energy and Industrial Strategy (BEIS) has announced the results of the fourth contracts for difference (CfD) round, with a record 11 gigawatts of consented capacity set to secure backing.
‘Biggest reform in a decade’: Energy Security Bill delivers new powers on CCUS, hydrogen and decom
Development pledges and new policing powers on CCUS, hydrogen and decommissioning have been unveiled in the UK Energy Security Bill, marking the “biggest reform” of its kind in a decade.
UK Government to relax gas quality rules to boost North Sea supply
Kwasi Kwarteng is looking at relaxing gas quality rules for UK pipelines so North Sea supply can help beat the energy crisis.
Equinor signs winter gas supply deal with Centrica for 4.5 million UK homes
Equinor and Centrica have signed an agreement which will see the Norwegian company deliver an additional 1 billion cubic metres (bcm) of gas supplies to the UK in time for this winter.
UK spent £5bn on Russian energy imports last year
The UK spent around £5 billion on imports of Russian oil, gas and coal in the year to April 2022 according to a House of Commons research briefing, as the government looks to halt supplies by the end of this year.
Final grant agreement reached for £130m Blyth subsea cable facility
JDR Cable Systems has secured financial support for a new “state-of-the-art” subsea cable manufacturing facility in the north-east of England.