‘Unproven’ green tech to have significant impact on energy bills, MPs warn February 7, 2025 Government investment into “unproven” carbon capture schemes is set to have a “very significant effect” on households’ energy bills, an influential group of MPs is warning. Ministers have backed investment into carbon capture, usage and storage (CCUS) schemes in a bid to achieve the UK’s legally mandated climate goals, including net zero by 2050. But [...]
Landlords granted reprieve by Labour as energy efficiency timeline extended February 7, 2025 The government has officially extended the deadline for landlords to tighten energy requirements in the privately rented sector by two years to 2030. As of 2030, all private landlords will be required to meet a higher standard of Energy Performance Certificate (EPC) C or equivalent in their properties – up from the current level of EPC E. [...]
Cut taxes for BP and Shell to protect UK from Trump’s trade war, Rachel Reeves told February 6, 2025 Oil giants such as BP and Shell who operate in the North Sea should be given huge tax breaks to help protect the UK against Donald Trump’s burgeoning trade war, Chancellor Rachel Reeves has been told. Aberdeen & Grampian Chamber of Commerce is calling on the UK government to reduce the 78 per cent tax [...]
Octopus Energy: Profit slashed as Greg Jackson’s giant battles rising costs February 4, 2025 Profit has been slashed at Octopus Energy as rising costs and falling sales ate into its margin during the giant’s latest financial year. For the 12 months to 30 April, 2024, the group reported a net profit of £83m, down from the £203m it posted in the prior year. Its revenue also dipped from £12.54bn [...]
Shell to post lower 2024 profit after year of faltering oil demand January 26, 2025 Shell is expected to post lower annual profit than the previous year next week, after the energy giant was hit by weak oil prices and faltering demand for the fossil fuel. The London-listed company is scheduled to announce its financial results for the calendar year 2024 on Thursday. Analysts have forecast that it will post [...]
Utilita Energy profit to fall as sales slashed by £700m January 3, 2025 The owner of Utilita Energy has warned its profit will fall because of an “increasing obligation to support customers with higher bills”. Luxion Group, which owns the Eastleigh-based supplier, added that its resources “continue to be stretched” despite its pre-tax profit increasing from £31.2m to £43m in the year to 31 March, 2024. Utilita Energy [...]
Ofgem: Energy price cap to rise by £21 to £1,738 a year on average November 22, 2024 The UK’s energy price cap is set to rise by £21 for an average household, taking a standard yearly bill to £1,738, Ofgem has said. The energy regulator opted to announce a 1.2 per cent hike in the cap for the period January to March 2025 – or £1.75 a month, on average. It sets [...]