The UK has spent more than £50 billion extra on gas since Russia's invasion of Ukraine, a new analysis suggests.
UK energy crisis
The UK government said it’s confident Britain will have enough energy to get through next winter as liquefied natural gas flows boost supplies and demand is reined in.
First Minister Nicola Sturgeon will chair the second summit with energy industry leaders in less than two months on Thursday.
The UK is opening applications for as much as £40 billion of funding to energy traders to stave off a worsening liquidity crisis.
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.
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.
Incoming UK Prime Minister Liz Truss is finalizing plans for a £40 billion ($46 billion) support package to lower energy bills for businesses.
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.
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.
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 adults plan never to turn their heating on this winter, polling suggests, as average bills are set to rocket while the temperature drops.
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?
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.
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.
The Scottish Government shouldn’t rule out support for ramping up domestic oil and gas production, according to an Aberdeen University expert.
Britain’s relative immunity to natural-gas supply cuts from Russia may be about to run out.
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’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 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.
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.
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 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.
Millions of households across the UK could face energy rationing measures not seen since the 1970s as Europe grapples with a supply crisis.
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.