Octopus boosts renewable capacity ahead of Shell Energy deal November 27, 2023 For an undisclosed fee, Octopus Energy has bought into Ørsted’s Walney Extension wind farm, the eighth largest in the world. The generation arm of the energy supplier has taken a 12.5 per cent stake in the Irish Sea project, which was built in 2018. The project has 87 turbines with a generation capacity of 660 [...]
Small business lobby calls on Ofgem for more support as winter bites November 27, 2023 The Federation of Small Businesses (FSB) has called on Ofgem to make changes as small businesses are still battling high utility bills despite the fall in October's energy price cap.
Global scramble for Uranium spells trouble for UK’s nuclear plans November 27, 2023 City A.M.’s energy editor Rhodri Morgan delves into the sector’s challenges in his weekly column. The global rush for Uranium, and the consequential price spike, could pose a major headache for the UK’s nuclear power ambitions. Nuclear power currently provides about 10 per cent of the world’s electricity. And, despite this relatively small market share, [...]
Swedish heat pump firm aims to convert one million UK homes with £300m investment November 27, 2023 A Swedish heat pump firm has pledged to inject £300m into the UK over the next three years and create 8000 jobs by 2033 in a boost to government plans to shift UK homes away from gas boilers.
Rolls-Royce chief aims to woo the City with turnaround plans November 26, 2023 Rolls Royce chief executive Tufan Erginbilgic is looking to woo the City next week, as the company unveils its turnaround plan.
Sharp cut in fuel prices after retailers given ‘good prod’ by regulator CMA November 25, 2023 “It’s amazing what happens when the competition watchdog gives the fuel trade a good prod", a spokesperson for the AA said.
Oil prices: Brent steady ahead of OPEC+ production decision on possible supply cuts November 24, 2023 Brent crude futures were steady on Friday as traders kept their powder dry ahead of an OPEC+ meeting that could bring agreement on further supply cuts. Brent crude futures were down eight cents, or 0.1 per cent, at $81.34 a barrel by 0913 GMT, having settled 0.7 per cent down in the previous session. U.S. [...]
High Court green lights legal action against Shell over oil spills November 23, 2023 The High Court yesterday green lit a group action against Shell that stems from oil spills in a region of Nigeria. The lawsuit arose out of oil spills that occurred from oil pipelines located around Rivers State in the Niger Delta, which caused environmental damage. The thousands of claimants are from the Ogale and Bille [...]
Biggest since Deepwater Horizon as Talos and Occidental still battling 62,000-barrel mega oil spill November 23, 2023 The largest US oil spill since Deepwater Horizon is currently unfolding in the Gulf of Mexico near Louisiana, as energy giants continue battle to protect the environment from disaster. Occidental Petroleum, W&T Offshore and Talos Energy are among the oil drillers that have ceased offshore production after a subsea pipeline ruptured and leaked around 26,000 [...]
Ofgem’s energy price cap to increase by five per cent as rising costs drive up winter bills November 23, 2023 Ther chancellor's main proposal was £960m for a “green industries growth accelerator”, but falling short of the US's green deal.