The surge in wholesale electricity prices last year forced UK consumers to pay more than double the amount for power than they did before the crisis, according to a study by University College London.
European gas prices rose amid expectations of higher demand from power producers, after a recent slump improved the profitability of the fuel compared to coal.
The UK has spent more than £50 billion extra on gas since Russia's invasion of Ukraine, a new analysis suggests.
Most of Europe has been brutally winded by the energy shortage currently plaguing the continent.
Record-breaking commodity prices resulting in sky-high gas and electricity prices have prompted calls for fundamental market reform. The European Union (EU) announced in September 2022 that it is looking to impose historic interventions in the energy market to rein in soaring commodity prices, including considering a levy on excess profits and potential gas price caps.
Work is ongoing to “break the link” between the cost of gas and electricity prices in the UK, the prime minister has confirmed.
US natural gas prices surged to a 13-year high as robust demand tests drillers’ ability to expand supplies.
The GMB union has called for a share of North Sea gas production to be reserved for UK households and energy-intensive industries in a bid to tackle spiralling costs.
The UK’s leading oil and gas trade body has warned a windfall tax on the North Sea could cause “irreparable damage” to the industry.
MPs have been told that offering new oil and gas licences in the UK North Sea “is not a reasonable response” to the price crisis being triggered by the invasion of Ukraine.
Surging gas prices throws into “sharp relief” the need to ramp up Scottish offshore wind and hydrogen, the energy minister will say later.
European natural gas prices soared after Russian forces attacked targets across Ukraine in an effort to demilitarize the country. The West vowed further sanctions.
Energy prices surged after Russian President Vladimir Putin signed an order to send what he called “peacekeeping forces” to the two breakaway areas of Ukraine that he officially recognized on Monday.
A former oil and gas worker says soaring energy bills and the cost of living crisis means he has to go without food and showers just to get by.
Far from having an energy production, supply and distribution machine that is robust and flexible as claimed, the UK’s is in a mess.
Companies are defending Britain’s net-zero plans as the best way to resolve the energy crisis in the long term, after a report that close advisers to the prime minister are warning that a rethink of the policy is needed.
UK domestic energy bills will jump 54% from April, dealing a dramatic blow to households already suffering a cost-of-living squeeze that’s only set to get worse.
US natural gas futures suddenly spiked the most on record Thursday afternoon, a dramatic move that signaled bearish wagers being squeezed out of the market.
UK energy prices will be “vulnerable” to the impacts of Russia’s threatened invasion of Ukraine, trade body Oil and Gas UK (OGUK) has warned.
UK supplier SSE Energy Services has been forced to apologize after suggesting customers to save on heating this winter by eating ginger or having a hula-hoop contest.
UK oil and gas companies will contribute billions more to the country’s coffers whether a windfall tax is introduced or not.
Labour has joined calls to impose a one-off ‘windfall tax’ on North Sea oil and gas companies to fund measures to ease household energy bills.
The boss of the UK’s biggest energy supplier has said it does not want a bailout from the Government as households prepare for a 50% spike in their bills.
Soaring gas prices caused the demise of a raft of energy suppliers in 2021 and will likely lead to a “crisis” rise in household bills next year, industry experts have warned.
European natural gas prices fell for a fourth day as US supplies are expected to bring relief to the tight market and traders weighed both milder weather and risks to demand from the Omicron virus variant.