Failed suppliers, a price cap and the fall of the Big Six
After nine failed suppliers, major takeovers and a price cap on bills, the energy sector has faced another bruising year which seemed to mark, once and for all, the end of the Big Six.
energy
The lost decade: energy stocks seek relevancy as investors flee
It’s been a tough run for energy stocks.
Undersea energy cable is ‘critical’ in climate battle
A £1 billion undersea energy cable to transmit renewable energy from the north of Scotland to the rest of the country has been hailed as a “critical” part of the country’s fight on climate change.
Unpopular maybe, but lower speed limits good for planet
The following figure is from the Government produced ‘UK greenhouse gas (GHG) emissions national statistics 1990 – 2017’. The bar chart shows the main sectors contributing to GHG emissions.
Ofgem rips up licences linked to energy suppliers
Ofgem has ripped up 26 gas and electricity licences linked to just five men, as the regulator faces calls to clamp down on pre-packaged energy suppliers after a string of failures in the sector.
More new oil and gas inventory coming from mergers, not exploration
Increasingly more recoverable barrels of oil and gas around the world are coming from corporate mergers and acquisitions, and not from traditional exploration.
‘At least’ £1bn North Sea cash should fund energy transition, Sturgeon says
At least £1 billion of North Sea revenues should be set aside to help areas heavily dependent on oil and gas make the switch to a greener economy, Nicola Sturgeon has argued.
£60m funding announced for Dundee ‘innovation parc’
The Scottish Government has announced £60 million in funding for a new "centre of innovation" in Dundee.
EDF to take on customers of collapsed energy firm Toto
The energy supply and credit balances of the 134,000 customers of now-defunct Toto Energy will remain unaffected after the industry regulator appointed EDF Energy to take them on.
Energy generators to get £1bn windfall as power subsidy set to restart
British electricity generators can expect a £1 billion windfall after a European Commission decision that could restart a controversial subsidy scheme which was accused of favouring fossil fuels.
Bankers shrug off risk and head back to Saudi Arabia for deals
For the second straight year, the risks of doing business in Saudi Arabia are pushing their way onto the agenda of Saudi Crown Prince Mohammed bin Salman’s glittering investment showcase.
Higher energy bills likely due to the Saudi oil attacks
The drone attack which knocked out half of Saudi oil production is likely to put up energy bills for UK consumers, an analyst said.
Search for ‘mix of grey and green’ to create high-growth energy firms
The search is one for “a mix of grey and green” industry professionals to create new, highly-scalable businesses in the energy sector.
The impact of Brexit on risk allocation in the energy and waste sectors
Waste sector businesses are increasingly looking to “Brexit clauses” as a pragmatic solution to the uncertainty created by the UK's looming withdrawal from the EU.
Mammoet to acquire rival heavy lifter
Netherlands-headquartered Mammoet has agreed to buy UK rival heavy lift and transport firm ALE for an undisclosed fee.
Chancellor to halt plans for overhaul of UK energy industry
Chancellor of the Exchequer Philip Hammond is blocking a set of government proposals to overhaul the U.K. energy industry because of the potential spending implications for a new prime minister, people familiar with the matter said.
Fairer energy bills to cut north ‘surcharge’
Hard-pressed families in the north and north-east could have their energy bills cut by £17 a year under a new initiative by the UK Government.
‘Failing’ energy efficiency policy must be improved to meet net zero goals say MPs
The Government is presiding over a "failing policy" when it comes to making sure homes and offices are well insulated and energy efficient, MPs have warned.
Household energy bills increase by £1.2bn six months
Households across the country have seen a combined £1.2 billion added to energy bills thanks to 42 price rises in the six months since the Government's flagship price cap was supposed to end rip-off bills, new research has found.
How Norway’s rain and snow will soon be powering UK homes with Green energy
Water flowing from mountains to fjords in Norway will soon be helping power British homes, as the world's longest "interconnector" hooks up the two countries' grids.
Alarm as UK homes ‘in the slow lane’ of energy data revolution
Twice as many UK energy industry professionals believe companies and not customers will benefit the most financially from the data revolution in energy, a new report said.
Siemens to cut 2,700 jobs at energy unit due for listing
Siemens AG said it will cut 2,700 jobs at its power and gas division, part of a sweeping overhaul announced last month to spin off the embattled business.
Change of ‘tone’ in sector responsible for enhanced energy focus
A noticeable “change in tone” within the north-east energy sector over the last 12 months has provoked the decision to enhance the focus of Opportunity North East (ONE), according to Sir Ian Wood and Jennifer Craw.
Ofgem hits three energy firms with collective £1m fine
Three energy companies have been slapped with £870,000 in combined fines by the industry regulator after breaking competition law.
Ofgem unveils stricter energy price control plans
The energy regulator has confirmed it will pursue even tighter restrictions on how much profit energy companies can make, in a move it said will result in lower prices for customers.