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.
Grid & Retail
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.
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.
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.
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 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.
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.
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.
Green grids and international renewable energy are the only way to save Africa – and the world – with the alternative being a “climate abyss”.
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 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 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.
To make real progress in bringing power to those without in sub-Saharan Africa, interested parties will have to provide much more cash.
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.
Indonesia has approved the subsea route for what could be the world’s first intercontinental power grid, connecting Australia to Singapore, with 24/7 renewable power. The official nod means Sun Cable’s ambitious project, that proposes the world’s largest solar farm, the world’s biggest battery, and the world's longest undersea cable, has moved a step closer to reality.
The African Development Bank (AfDB) has signed up to provide $530 million to construct a transmission line in Angola.
Egypt and Israel are working on plans to expand the East Mediterranean Gas Forum (EMGF) into energy security, electricity infrastructure and emissions controls.
South African President Cyril Ramaphosa has taken the topic of domestic energy reform to Davos, although domestic criticism persists.