Scottish Power owner to invest £12bn in Britain to support green energy and offshore wind November 27, 2023 Spain's renewable energy giant Iberdrola has announced plans to invest nearly £12bn in Britain through 2028 in grids and green energy projects.
China takes aim at ‘illegal activities’ in the iron ore market November 27, 2023 The price of iron ore fell 1.2 per cent on Monday morning, to £104.67 ($132.20) per tonne, bringing to a halt five weeks of gains after Chinese officials warned the country may intervene in the market. The National Development and Reform Commission (NDRC) said on Friday it had met with major port operators to discuss [...]
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 [...]
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, [...]
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.
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 [...]