Consumers have been told not to worry about “the lights going out” this winter amid concerns the UK Government’s price cap could see energy bills soar when it is reviewed next year.
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.
Spiralling gas prices and shortages of fuel on the UK’s forecourts have brought into sharp focus the importance of ensuring policy protects the country’s energy supplies throughout the energy transition.
Shell (LON: RDSA) has said that it expects cash flow to be bolstered by soaring prices for gas and electricity.
Record high gas prices could be a permanent fixture in the coming months until supply is able to catch up with global demand, experts have warned.
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.
Serica Energy profits tumbled 90% in the first half of the year as its gas hedging position and planned outages took a toll.
The chairman of the Oil and Gas Authority (OGA) has levelled an accusation at Russia over its role in the gas price crisis.
UK Business Secretary Kwasi Kwarteng warned that more energy suppliers may fail this year after a surge in gas prices caused seven to collapse already, affecting some 1.5 million households.
The UK will experience a shift in the weather next week, including strong winds that will ease its dependence on expensive natural gas to produce electricity.
As the UK finds itself in the midst of a gas crisis, stark figures have shown that North Sea production could be on course to wrap up by the end of the decade.
The boss of an energy industry body has said her team warned the Government and Ofgem that the sector was fragile at least two years ago.
The Government wants energy firms to "stay afloat organically", a Cabinet minister has said, as the growing energy crisis led to company bosses saying the outlook was "looking bleak".
UK energy secretary Kwasi Kwarteng has told MPs there is “absolutely no question of the lights going out” as gas prices across Europe soar.
Soaring gas prices across Europe reinforce the need to maintain supply from the UK North Sea, according to Oil and Gas UK (OGUK).
UK energy companies are seeking a massive government bailout as a surge in gas and electricity prices threatens to push suppliers out of business.
A key UK power cable knocked out by a fire will stay partly offline until March, the National Grid Plc said, deepening the energy crisis threatening Britain as it heads into winter.
A top petro-economist said today that the Covid-19 mutation had left an “open question” about the direction of Brent crude prices in the coming weeks.
Crude and gasoline futures both climbed to levels not seen since before the pandemic as Hurricane Laura rattled toward a key stretch of the U.S. Gulf Coast that is home to the nation’s greatest concentration of refining capacity.
Israeli gas stocks were headed for their biggest losses in more than three months after the High Court opened the door for a future lawsuit against the firms that sell fuel to the country’s largest energy consumer.
A Moray gas customer has had his bill halved after a postcode lottery for prices was exposed.
The Deputy Prime Minister of Russia said the gas price for Belarus would not be changes and he hoped a debt dispute between the two countries would be resolved within the next two weeks.
Energy giant SSE is to cut its standard gas prices by 5.3% in the latest move by a Big Six supplier to reduce tariffs.
Gazprom has warned the EU of a wide-scale gas market crisis and underinvestment amid falling commodity prices unless Brussels revises its "contradictory" energy policies.
Chesapeake Energy is having its worst year since 1998 after halting dividend payouts, slashing drilling budgets and cutting one of every six employees failed to rescue the energy explorer from the deepest gas-market rout in 16 years.