Plunging temperatures across parts of China have sparked an early start to the winter heating season, likely lifting power demand and intensifying the nation’s energy crisis.
Progress towards a clean energy system is “still far too slow” to be compatible with net zero by 2050, a report has claimed.
The UK could store enough power in underground reservoirs during the summer to get it through winter in future, according to a report which backs hydrogen technology.
Cooler weather is set to increase demand for heating across Europe from next week adding pressure to already strained energy markets where price moves have become extremely volatile.
China is urging its liquefied natural gas (LNG) importers to procure more supply to fix its energy crisis, while providing little financial support for firms paying record-high rates for the super-chilled fuel.
European gas prices surged again, bringing their gains over just two days to 60%, as the impact of soaring energy costs rippled through equity and bond markets and the European Union sounded the alarm.
European energy prices soared to fresh records amid worsening fears over supply, with UK natural gas futures exceeding the threshold of 300 pence a therm for the first time ever.
Oil steadied in Asian trading after rallying to the highest level since 2014 following a decision by OPEC+ to maintain its planned gradual increase of supply, despite the market facing an energy crunch.
China’s energy crisis has highlighted weaknesses in one of President Xi Jinping’s top priorities -- energy security -- that could have ramifications for the power system for years to come.
China’s central government officials ordered the country’s top state-owned energy companies -- from coal to electricity and oil -- to secure supplies for this winter at all costs, according to people familiar with the matter.
Britain is facing the prospect of an energy supply crisis which will see customers having to pay for a higher level of reliability, it has been reported.
Oil tycoon Sir Ian Wood has accused Scottish ministers of being in denial over their belief that the country's energy needs can be met from renewable sources.