UK labels nuclear power ‘green’ to attract climate-friendly capital
Britain will classify nuclear power as “environmentally sustainable” as the government tries to attract billions of pounds of private capital to the sector.
Jeremy Hunt
Chancellor confirms £20bn CCS package – but Acorn backers must continue wait
Chancellor Jeremy Hunt has confirmed a £20bn government support package for CCS, but developers of a flagship north east scheme must wait for further details.
Hunt considers limiting UK energy profits tax when prices fall
Chancellor of the Exchequer Jeremy Hunt is considering limiting the windfall tax on the profits of UK oil and gas companies to allay industry concerns.
Timeline: Acorn CCS’ long road towards mighty oak
The path has not run smooth for the north east’s Acorn CCS project, however new funding commitments in the Spring Budget may finally see the pioneering plans take root.
Hunt to announce creation of 12 new ‘investment zones’ in tomorrow’s budget
The Chancellor will announce the creation of a dozen new UK investment zones when he delivers the government’s budget tomorrow.
Chancellor vows £1bn per year support for carbon capture
Chancellor Jeremy Hunt vowed to commit £20bn to carbon capture technology over the next two decades, alongside new support for small modular nuclear reactors (SMRs).
Updated: MPs call on Chancellor to back Acorn CCS in Spring Budget
Scottish politicians urged Westminster to unlock funding for the Acorn carbon capture and storage project in the upcoming Budget and slammed slow progress on low-carbon development.
Government ‘unlikely’ to tinker with windfall tax in upcoming spring budget
It is “unlikely” that Jeremy Hunt will toy with current energy windfall taxes when he delivers the government’s fiscal update next week.
Hunt told to ‘fix or ditch’ IR35 ahead of spring budget
Westminster is being urged to “fix or ditch” current off-payroll working tax rules ahead of the upcoming spring budget.
EPL relief ‘not enough’ to offset impact on new North Sea project profitability, says economist
November’s changes to the oil and gas windfall tax have had a “significant impact” on the profitability of new projects, analysis has found.
Conservative MP calls for Sunak to reverse IR35 reforms
Conservative backbencher Sir John Redwood has called for Prime Minister Rishi Sunak to reverse the "very bad deal" IR35 is bringing to self-employed workers.
UK tax take expected to fall £12.7 billion on low gas prices
Tax revenues from the country’s oil and gas sector will fall as fossil fuel prices drop, the UK government expects, restricting Chancellor Jeremy Hunt’s spending power in the budget next month.
Energy bodies warn green growth at ‘severe risk’ without new support
A group of trade associations from across the energy sector have written to the Chancellor urging him to prioritise incentives for green growth as part of the Spring Budget.
North Sea windfall tax raises 25% less than expected in December
The windfall tax on North Sea oil and gas producers raised nearly 25% less than expected for Treasury coffers last month.
‘Populism before pragmatism’: Tory front bench blamed for Harbour Energy jobs cuts
Rishi Sunak and Jeremy Hunt are being held responsible for planned job losses at the UK North Sea’s largest producer.
Wind firm to take UK Govt to court over ‘smash and grab raid’ on electricity generators
A major investor in UK wind energy plans to take the government to court over its “smash and grab raid” on renewables generators.
‘Many’ North Sea operators reconsidering 2023 investment due to windfall tax
The head of the BRINDEX trade group has hit out at the "manifestly unfair" levy, which he said will hurt the supply chain in the UK.
Windfall tax: Top producer Harbour Energy to shun North Sea licensing round
Harbour Energy (LON: HBR), the largest producer in the North Sea, will shun the ongoing licensing round in the UK due to the windfall tax.
Windfall extension “a tax too far” sector tells Hunt in key meeting
An expanded windfall tax undermines firms’ ability to invest in the North Sea, sector representatives told Chancellor Jeremy Hunt in a key meeting on Friday, though they failed to secure concessions.
Oil firms seek windfall tax price floor in meeting with Jeremy Hunt
Chancellor Jeremy Hunt is due to hold a meeting on Friday on the windfall tax, Energy Voice understands, with oil and gas executives seeking a price floor to the levy.
Tax, energy policy must make electricity cheaper than gas: CCC boss
The head of the Climate Change Committee (CCC) says government policy must focus on efficiency and ensure electricity is cheaper than gas in a bid to “transform the economics of low-carbon heat”.
R&D spend relief increase a boost to UK’s energy transition, says expert
An innovation expert has welcomed a move to up the incentive for big business to spend on R&D, saying it could be a boon in the UK’s quest to be a leader in the energy transition.
Windfall tax risks ‘destroying’ North Sea production, Tory MPs warn Chancellor
Tory MPs have told Chancellor Jeremy Hunt that the windfall tax on oil and gas companies needs to be watered down to avoid an “existential threat” to the North Sea.
WATCH: BP boss grilled by MP on lack of answers on windfall tax payments
A boss at BP was grilled for his lack of answers on a windfall tax "loophole" by an MP at a House of Commons Committee this week.
Reports: Oil giant Shell to review £25bn of spend after windfall tax hike
Supermajor Shell (LON: SHEL) is to review as much as £25 billion of UK investments following the government’s decision to ramp up the windfall tax.