UK labels nuclear power โgreenโ to attract climate-friendly capital
Britain will classify nuclear power as โenvironmentally sustainableโ as the government tries to attract billions of pounds of private capital to the sector.
Britain will classify nuclear power as โenvironmentally sustainableโ as the government tries to attract billions of pounds of private capital to the sector.
Chancellor Jeremy Hunt has confirmed a ยฃ20bn government support package for CCS, but developers of a flagship north east scheme must wait for further details.
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.
The path has not run smooth for the north eastโs Acorn CCS project, however new funding commitments in the Spring Budget may finally see the pioneering plans take root.
The Chancellor will announce the creation of a dozen new UK investment zones when he delivers the governmentโs budget tomorrow.
Chancellor Jeremy Hunt vowed to commit ยฃ20bn to carbon capture technology over the next two decades, alongside new support for small modular nuclear reactors (SMRs).
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.
It is โunlikelyโ that Jeremy Hunt will toy with current energy windfall taxes when he delivers the governmentโs fiscal update next week.
Westminster is being urged to โfix or ditchโ current off-payroll working tax rules ahead of the upcoming spring budget.
Novemberโs changes to the oil and gas windfall tax have had a โsignificant impactโ on the profitability of new projects, analysis has found.
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.
Tax revenues from the countryโs oil and gas sector will fall as fossil fuel prices drop, the UK government expects, restricting Chancellor Jeremy Huntโs spending power in the budget next month.
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.
The windfall tax on North Sea oil and gas producers raised nearly 25% less than expected for Treasury coffers last month.
Rishi Sunak and Jeremy Hunt are being held responsible for planned job losses at the UK North Seaโs largest producer.
A major investor in UK wind energy plans to take the government to court over its โsmash and grab raidโ on renewables generators.
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.
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.
An expanded windfall tax undermines firmsโ 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.
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.
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 โtransform the economics of low-carbon heatโ.
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 UKโs quest to be a leader in the energy transition.
Tory MPs have told Chancellor Jeremy Hunt that the windfall tax on oil and gas companies needs to be watered down to avoid an โexistential threatโ to the North Sea.
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.
Supermajor Shell (LON: SHEL) is to review as much as ยฃ25 billion of UK investments following the governmentโs decision to ramp up the windfall tax.