Windfall tax revenue set to slump 40 per cent thanks to falling oil and gas prices June 27, 2023 The sharp fall in the price of oil and gas will lead to a huge drop in revenue from the government’s windfall tax. Announced in November of last year, the energy profits levy hiked an existing tax on oil and gas profits and extended its deadline until 2028. Chancellor Jeremy Hunt estimated that it would [...]
Industry must avoid return to ‘Wild West’ with ultra-cheap deals, warns energy boss June 27, 2023 Telecom Plus - which trades as Utility Warehouse - has announced record revenues and profits for its bundled household services arm.
Cornish Lithium faces uncertain future as it scrambles for £10m lifeline June 26, 2023 One of the UK’s future lithium producers is at risk of collapse, unless it can secure £10m financing deal by the end of next month.
Energy suppliers have a duty to help businesses with bills, says EDF exec June 26, 2023 Suppliers have a duty to help businesses stay afloat through easing the conditions of their energy bills, EDF has argued.
IOG shares rise as troubled firm shelves North Sea projects June 26, 2023 IOG's shares have soared 25 per cent today on the London Stock Exchange, after it cancelled expansion projects to boost its balance sheet.
Battery maker AMTE Power faces nervous wait for funds in threat to UK’s electric ambitions June 26, 2023 The UK’s electric dreams are at risk of running flat, with AMTE Power yet to update shareholders on its race to raise funds.
China and India fuel record high coal prices despite falling US and EU usage June 26, 2023 Coal prices climbed to record levels last year driven by rising demand across Asia, according to a new report on global energy trends.
Onshore wind is not just about net zero, it’s a vote winner June 26, 2023 Onshore wind is not just about going green, it's a vote winner that could ease bills and liberalise planning for housing and transport.
Jeremy Hunt to meet CMA, Ofgem, Ofwat and Ofcom over ‘profiteering’ concerns June 26, 2023 Jeremy Hunt will ask industry regulators what they are doing about any companies exploiting rampant inflation by raising prices. The Chancellor is set to meet the Competition and Markets Authority (CMA), and the watchdogs for energy, water and communications on Wednesday. He will press them on whether there is a profiteering problem in their sectors [...]
Siemens Energy’s share price plummets by a third after billion euro turbine bill warning June 23, 2023 Siemens Energy has seen over a third knocked off its market value today, amid problems at its wind turbine business.