Ed Miliband rules out zonal energy pricing Energy The UK government has ruled out the introduction of a zonal energy pricing system that would have seen regions closer to renewable energy sources likelier to see lower prices. Ed Miliband’s Department for Energy Security and Net Zero has opted to reform the existing system by reviewing the way transmission charges work and incentivising the [...]
National Wealth Fund to put £28m into carbon capture project A government -backed fund is pledging more than £2 for a carbon capture project. Energy secretary Ed Miliband has said that workers in “Britain’s manufacturing heartlands” will benefit from the investment in the Peak Cluster works. Peak Cluster is working towards a pipeline that will take carbon emissions from cement and lime companies in the [...]
Taxpayers on the hook for at least £1bn after Lindsey oil refinery closure Business British taxpayers could be forced to pay up more than £1bn following the collapse of the Lindsey oil refinery in North Lincolnshire last week. Sources told the Times HMRC is owed unpaid taxes of around £250m, while the facility’s decomissioning costs could run from anywhere between £700m and £3bn. At least 420 jobs were put [...]
Government calls for investigation as Lindsey refinery owner folds July 1, 2025 The government has called for an urgent investigation after the group behind one of Britain’s largest oil refineries collapsed into administration, putting hundreds of jobs at risk. State Oil – the parent company of Prax Group, which owns the Lindsey refinery in North Lincolnshire – appointed administrators on Monday. A separate winding-up order has also [...]
Ofgem gives green light to landmark electric grid upgrade July 1, 2025 The UK’s energy regulator has approved a £24bn investment to upgrade the UK’s energy infrastructure as a part of its green transition. The Office of Gas and Electricity Markets (Ofgem) move comes as the government renews its push for cleaner energy, despite backlash around the impact on prices. Over £15bn is set to be deployed [...]
Ed Miliband forced to look again at North Sea oil and gas June 19, 2025 The UK government is mulling over a change to the law to oil and gas projects in the North Sea in a drive to lower energy bills. Michael Shanks, a minister working under energy secretary Ed Miliband, will be visiting Scotland on Thursday with a decision set to be made on the government’s intervention on [...]
Co-op boss urges Miliband to support small firms June 19, 2025 The boss of the Co-op has urged Ed Miliband to rectify the host of “far-reaching challenges” impeding small businesses’ net zero efforts, warning that a paucity of cheap finance and planning red tape were getting in the way of firms’ ambitions. In a letter seen by City AM Shirine Khoury-Haq said Britain was at a [...]
King Charles’ Crown Estate to invest £400m in offshore wind supply chain June 17, 2025 King Charles III’s property firm is to invest up to £400m of fresh capital into the UK’s offshore wind supply chain, it has been announced. The Crown Estate has earmarked £350m for investment into the construction of a new port and supply chain infrastructure it said would support “accelerated delivery of UK offshore wind projects.” [...]
Conservatives vow to end oil and gas windfall tax June 12, 2025 Kemi Badenoch will call for an end to the oil and gas windfall tax, in addition to scrapping Labour’s ban on new oil and gas licences, as she seeks to bolster her pro-growth credentials. The Tory leader is expected to announce her party will be “standing up for our oil and gas industry,” in an [...]
How worried should Ed Miliband be about the CBI’s net zero U-turn? June 12, 2025 Is the CBI’s about-face on the cost of net zero a case of shameless opportunism or an overdue conversion to common sense, asks James Ford We are arguably living in an age of screeching political U-turns. The government’s abrupt volte-face over withdrawing the Winter Fuel Allowance is probably the most egregious example. Others would include [...]