Leaders from across the energy sector praised measures outlined in the Queen’s Speech to accelerate renewables and net zero efforts, but decried a lack of efficiency measures and short-term support for consumers.
By Derek Leith, EY global head of tax for Oil & Gas
The reduction in fuel duty announced in the Chancellor’s spring statement highlights that in the short to medium term he will have to wrestle with the re-emergence of the energy trilemma: simply put, how does the government address the competing demands of energy affordability, energy security and sustainability?
On July 14, 2021 the EU unveiled its much anticipated ‘Fit for 55’ package of proposals to align the trading block with its 2030 emission reduction targets.
Simec Atlantis Energy shares have slumped in early trading after it called an emergency meeting to raise £341,000 to pay out a shareholder and replace its auditor, EY.
The EU Commission has announced a package of measures to enable the trading bloc to meet its 55% greenhouse gas emission reduction target that it has set itself for 2030.
The “stage is being set” for a UK North Sea recovery from the second half of this year, according to the flagship oilfield services report (OFS) from EY.
Hydrogen is sometimes seen as a panacea for all problems and challenges that the energy transition may pose. But is it all it’s cracked up to be? And what colour hydrogen is the best colour?
Earlier this month saw the EU Emissions Trading Scheme (EU ETS) daily carbon price hit €40. The EU ETS has been in place since 2005 and covers power and heat generation; energy-intensive industry sectors (including oil refineries, steel works and production of iron, cement, etc); and commercial aviation. For many years the carbon price traded below €10 but since 2018 the price had increased more than three-fold.
Economists have long been familiar with the concept of “negative externalities”, which may be defined as a cost that is suffered by a third party as a consequence of an economic transaction.