Brits set for sharp rise in energy bills in July May 19, 2026 Brits are set to face a sharp hike in energy costs this summer, with household bills forecast to rise by more than £200 a year, as the conflict in the Middle East ripples into the UK market. Energy analyst Cornwall Insight predicts that the annual bill for a typical dual-fuel household will increase to £1,850, [...]
Energy giant clashes with HMRC at UK’s highest court over £28m penalty May 18, 2026 Scottish Power is to face the tax authority at the UK’s highest court over a tax deduction on a £28m penalty to settle a probe with the regulator. The legal case stems from a probe by the energy regulator Ofgem into Scottish Power between 2013 and 2016 regarding mis-selling, poor complaints handling, and a lack [...]
UK businesses stall investments and cut headcount due to Iran war May 18, 2026 Over half of UK firms said they have halted investment and hiring plans due to the economic fallout of the Iran war, contributing to supply chain pressures and higher energy and fuel costs. According to new research from accountancy and advisory firm BDO, 57 per cent of 500 businesses with revenues between £10m and £500mn, [...]
British Gas to cough up £20m for ‘unfair treatment’ of vulnerable customers May 15, 2026 British Gas is set to cough up £20m after the watchdog closed an investigation into the energy giant and found it “fell short in its treatment of an unacceptable number of vulnerable customers”. The investigation looked into British Gas’ treatment of customers who had prepayment meters (PPMs) installed without permission, with consumers set to benefit [...]
Eon, Hometree strike deals to snap up parts of Ovo Energy May 11, 2026 Two arms of Ovo Energy have been snapped up by separate buyers, ending uncertainty over the retail energy giant’s future. German energy firm Eon is to acquire Ovo’s retail business, creating one of the UK’s biggest energy operators with around 10m combined customers, while Ovo’s Home Services arm, including Corgi Homeplan and Homepeat, is to [...]
Shell shares slump after earnings rocket on oil surge May 7, 2026 Shell kicked off a mega share buyback following a bumper first quarter that breezed past expectations on the back of booming oil trading. The FTSE 100 oil major recorded earnings of $6.9bn (£5bn), cruising past the consensus pencilled in by analysts of $6.4bn. It also marked a significant uplift on the $3.3bn pocketed in the [...]
Iran war costs Next £47m and may drive up prices May 6, 2026 Retail giant Next has said the ongoing disruption caused by the Iran War has hit it with a £47m increase in costs from climbing energy and transport prices. The FTSE 100 retail and homeware company said that the £27m increase, a sharp rise from it’s previous forecast of £15m, relates mainly to spikes in energy [...]
‘Critically low levels’: UK braces for jet fuel shortage as rationing looms May 5, 2026 The UK is particularly vulnerable to the jet fuel shortages caused by the Iran war, as the risk of rationing looms as supplies fall to “critically low levels” while the summer holidays creep closer. The ongoing closure of the Strait of Hormuz has led to an “extreme tightness” in the supply of jet fuel in [...]
UK at ‘greatest risk’ of jet fuel shortage as flights to be cancelled May 2, 2026 Ministers are set to warn the British public that flight cancellations will hit summer holiday plans as new research suggested that the UK is more exposed to jet fuel shortages than other European countries. Heidi Alexander, the transport secretary, is set to tell Brits that there could be flight cancellations this year as she will [...]
BP eyes North Sea exit as tax load bites May 2, 2026 BP is reportedly eyeing a potential exit from the North Sea as the tax load on energy companies seems unlikely to be eased with the Iran war. The UK oil giant is considering either ceasing or partially winding down operations in the North Sea, according to Bloomberg, as part of an effort to strip assets [...]