UK Government steps in to discount energy prices for businesses
The UK government has set out plans to cover half the expected rise in wholesale energy prices in a bid to soften the impact on businesses and non-domestic energy users.
UK energy crisis
UK to meet with energy firms in push to cap low-carbon power costs
The UK government is set to meet with some of the country’s biggest power producers to push through a measure that would cap wholesale electricity prices starting this winter.
Truss plans £40 billion energy-aid package for UK businesses
Incoming UK Prime Minister Liz Truss is finalizing plans for a £40 billion ($46 billion) support package to lower energy bills for businesses.
UK energy users could save £26bn on renewables profit cap
British energy consumers could save £26 billion ($30 billion) over the next two years, nearly £950 per household, through a government plan to cap profits of existing wind and solar farms in exchange for long-term price certainty.
UK plans to cap renewables’ profits amid rising energy costs
The UK government plans to offer fixed-price contracts to existing renewable-energy producers as a way to blunt the impact of soaring power costs on households this winter, according to people familiar with the discussions.
EU plans emergency intervention to stem surging power prices
The European Union is planning urgent steps to push down soaring power prices, Commission President Ursula von der Leyen said on Monday.
Nearly one in four ‘won’t turn on heating this winter’ as energy bills soar
Nearly one in four adults plan never to turn their heating on this winter, polling suggests, as average bills are set to rocket while the temperature drops.
‘Enormous opportunity, enormous headache’: How viable is energy nationalisation?
Calls to nationalise some or all of the UK energy market have gained traction as a potential remedy to crippling consumer bills, but how viable and effective would these measures be?
UK bills will hit nearly £3,600 from October, experts say in final prediction
Families face a grim winter as experts predict the cap on energy bills will hit close to £3,600 per year from October - before rising again next year.
UK to import rare Australian gas cargo in latest sign of desperation
The UK is about to receive liquefied natural gas from far-off Australia for the first time in at least six years, highlighting the European region’s desperation in grappling with its worst energy crisis in decades.
SNP cannot just rely on renewables to plug energy gaps, warns Aberdeen Uni expert
The Scottish Government shouldn’t rule out support for ramping up domestic oil and gas production, according to an Aberdeen University expert.
UK’s lucky gas glut about to run out as winter approaches
Britain’s relative immunity to natural-gas supply cuts from Russia may be about to run out.
Energy price cap to be updated quarterly ahead of ‘challenging winter’
Ofgem has confirmed that the energy price cap will be updated quarterly, rather than every six months, as it warned that customers face a "very challenging winter ahead".
BP boss defends dividend hike, buybacks amid cost-of-living crisis
BP’s (LON:BP) chief executive has defended the company’s share buyback and dividend plans as campaigners criticised its record quarterly profits as "obscene".
UK energy bills set to peak above £500 as Russia cuts gas
UK households are set to see record energy prices this winter as Russia clamps down on Europe’s gas supplies, aggravating Britain’s cost-of-living crisis.
Sunak to cut VAT on energy to revive UK Tory leadership bid
Rishi Sunak pledged to scrap value added tax on all domestic energy bills for the next year if he becomes UK prime minister, a move his leadership rival, Liz Truss, criticized as a U-turn.
UK grid prepares to pay firms cash to cut power use next winter
National Grid is asking UK companies how much electricity demand they will be able to cut next winter to help keep the lights on.
Equinor signs winter gas supply deal with Centrica for 4.5 million UK homes
Equinor and Centrica have signed an agreement which will see the Norwegian company deliver an additional 1 billion cubic metres (bcm) of gas supplies to the UK in time for this winter.
The next year will see a lot of winners, but for some businesses, there will be one headwind too many
The first half of 2022 has been incredibly turbulent for Europe’s energy sector. And though many economies have shown a robust recovery in response to the COVID-19 pandemic, several other factors are now posing equally challenging risks.
Households across the north and north-east could face winter black outs
Millions of households across the UK could face energy rationing measures not seen since the 1970s as Europe grapples with a supply crisis.
Industry calls for rapid action on Queen’s Speech energy measures
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.
Cap on UK energy bills set to be extended past 2023
The Government plans to continue capping household energy bills even after 2023 when current legislation is set to run out.
More action on energy bills needed by July – ScottishPower boss
The Government must take urgent action and help the poorest households months before energy bills will rise again ahead of the winter months, the boss of a major energy company has said.
Boris Johnson urges oil majors Shell, BP to invest in renewables
Boris Johnson urged the oil majors BP and Shell to invest “massively” in renewables to shore up the UK’s energy security, as soaring prices squeeze household budgets.
Russian energy ban would worsen UK inflation, BOE’s Pill says
A full European embargo on Russian energy supplies will drive inflation in the U.K. even higher than the 40 year record that it is on track to reach, the Bank of England’s chief economist said.