Drax locked in talks with UK government over £2bn carbon capture project July 27, 2023 Drax has confirmed talks are still ongoing with the government over its multibillion pound plans to develop its BECCS facilities.
EDF swings to profit with energy firm powered by price increases July 27, 2023 French nuclear power giant EDF swung to profit in the first half of the year, rebounding from a record loss in 2022.
British Gas rakes in almost £1bn as Centrica unveils near ten-fold earnings increase July 27, 2023 British Gas has posted record profits, fuelled by Ofgem's lucrative allowances in the energy price cap, totalling nearly a billion pounds.
Shell Q2 profits slide (to just the $5.1bn) as firm announces share buyback scheme July 27, 2023 Shell has announced a hefty new share buyback programme and raised its quarterly dividends, despite a downturn in profits.
Energy sector shows early support for Ofgem’s new financing rules July 27, 2023 The energy industry has shown initial signs of supporting Ofgem's announced capital adequacy reforms, following the collapse of 30 suppliers.
Ofgem moves to shore up energy sector risk consolidating big firms’ market power July 26, 2023 Suppliers are facing tightening financial rules from regulator Ofgem, which is desperate to avoid a repeat of the domestic energy crisis.
Uniper upgrades outlook and considers state aid repayments after bailout July 26, 2023 Bailed-out Uniper expects billions of euros in profits in 2023 as a result of more favourable than expected gas price developments.
Rio Tinto profits sink as iron ore prices ease and China’s economy stutters July 26, 2023 Rio Tinto has reported its lowest first-half year profits since the pandemic, with earnings tumbling amid easing iron ore prices.
Equinor unveils steep drop in profits as fossil fuel prices fall July 26, 2023 Equinor's profits have tumbled in line with falling oil and gas prices, signalling an expected industry-wide decline in earnings.
Ofgem toughens finance requirements for suppliers in latest market clampdown July 26, 2023 Ofgem has announced toughened capital requirements for suppliers, as it looks to ensure firms are resilient to future market shocks.