Centrica: FTSE 100 British Gas owner suffers huge backlash over CEO pay rise plans May 8, 2025 Centrica, the FTSE 100 parent company of British Gas, has suffered a huge backlash to plans to hand its chief executive a hefty pay rise. City AM reported in March that the CEO took home £4.3m for Centrica’s latest financial period, down from the £8.2m he received in the prior year. Chris O’Shea, who has been [...]
Centrica: ‘Challenging market conditions’ hit FTSE 100 energy firm May 8, 2025 Centrica has said it expects higher losses at its subsidiary, the UK’s largest gas storage site in the North Sea, known as Rough. The owner of British Gas on Thursday reaffirmed full-year profit guidance and plans to hike dividends despite “challenging market conditions” in its gas and power segment. Annual dividends are set it rise [...]
Ørsted’s cancelled offshore wind project puts net zero mission at risk, says Shadow Energy Secretary May 7, 2025 There are growing doubts over the government’s ability to meet its net zero targets after the company behind one of Britain’s biggest-ever wind farms abruptly pulled the plug on the project, citing overwhelming cost pressures. Denmark-based Ørsted, which won the contract to develop the 2.4GW Hornsea 4 offshore windfarm last year, said it took the [...]
Harbour Energy to axe 250 jobs as it slams Rachel Reeves May 7, 2025 Harbour Energy has slammed the government’s “punitive fiscal position” as it announced plans to cut 250 jobs in Aberdeen. The London-listed company, which is the largest oil and gas producer in the North Sea, blamed the Energy Profits Levy and a challenging regulatory environment for the decision. It also noted delays in the ramp-up of [...]
Solar panels must be fitted on all new homes from 2027 in net zero push May 1, 2025 New rules will mandate that housebuilders fit solar panels on the roofs of almost every new-build home from 2027, in a move slammed as an “ideological crusade”. According to a report in The Times, the policy change would add around £3,300 to the cost of building a semi-detached or terraced house, with a £4,000 premium [...]
Tony Blair calls for Net Zero ‘reset’ in break with Miliband April 30, 2025 Sir Tony Blair has called for a reset of “irrational” Net Zero plans, with an extended critique of the current state of the climate debate that has been seen as a direct rebuke to the energy secretary Ed Miliband. Blair, the last Labour leader to win an election before Sir Keir Starmer, cautioned in a [...]
BP shares plummet as firm chops buyback amid weakened oil market April 29, 2025 British energy giant BP chopped its quarterly share buyback after President Donald Trump’s erratic tariff agenda sent the price of oil tumbling. BP cuts its buyback to $750m (£559m), compared to $1.75bn the previous quarter. The firm’s shares dropped nearly four per cent in early trading on Tuesday. This comes after the cost of a [...]
Sir Jim Ratcliffe: Businesses can’t afford ‘heavy blow’ of net zero taxes April 29, 2025 INEOS founder Sir Jim Ratcliffe has slammed UK net zero policies as unaffordable and claimed carbon taxes are “killing manufacturing”. The Manchester United co-owner described payments to be made by INEOS’ Grangemouth as part of the UK Emission Trading Scheme (ETS), which puts a financial cost on carbon emissions, as “yet another tax bill” that [...]
Spain power outage: British tennis ace Fearnley’s Madrid match abandoned April 28, 2025 British tennis player Jacob Fearnley was forced off court at a crucial stage of his match at the Madrid Open due to the huge power outage that hit Spain on Monday. Fearnley was trailing Grigor Dimitrov 6-4 5-4, having just saved match point and broken the former world No3 to stay in the third-round contest, [...]
ITM Power: Shares in green hydrogen specialist skyrocket April 22, 2025 Shares in ITM Power soared on Tuesday after the green hydrogen specialist hiked full-year guidance for revenue and cash generation. The London-listed firm said it expects annual revenue of between £25.5m and £26.5m, a 30 per cent increase on its prior forecast of £18m and £22m. It also lifted forecasts for cash generation to between [...]