BP’s Net Zero push has crashed into reality February 12, 2025 I remember when I first encountered a hard copy FTSE 100 annual report. I was a first year undergraduate and my achingly left-wing lecturer in Business and Politics dropped copies in front of us in a seminar room, and asked us to rank the directors “on a fat cat scale.” I can still recall the [...]
I’m sorry Ed Miliband, your big green energy plan is all fantasy February 12, 2025 Ed Miliband's green vision is admirable, but the history of energy consumption shows it is but a fantasy, writes Paul Ormerod.
‘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 [...]
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 [...]
Government pursuing ‘confused’ approach to energy transition February 6, 2025 The UK’s “confused” energy strategy is more about slogans than results and risks hollowing out the local economy in Aberdeen, the boss of one of the UK’s largest energy services firms has said. John Heiton, who has run the offshore specialist OEG for over 16 years, told City AM the government is adopting a jumbled [...]
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 [...]
UK’s last fracking wells to be filled with cement despite dwindling gas stocks January 29, 2025 The UK’s last fracking wells are set to be closed and filled with cement despite warnings that Britain’s gas stockpiles are dwindling. In an open letter, the North Sea Transition Authority regulator told the energy firm Cuadrilla to plug the two wells at Preston New Road in Lancashire before decommissioning them by 30th June 2025. [...]
Probe launched into £2.1bn takeover of Electricity North West by ScottishPower owner January 29, 2025 The competition watchdog has launched a probe into a £2.1bn deal to takeover Electricity North West by the owner of ScottishPower. The Competition and Markets Authority (CMA) is looking into the deal which was first announced by Iberdrola in August last year. The watchdog said it was investigating whether the deal may affect competition in [...]
Ovo Energy buys brand from billionaire founder in £150m deal January 28, 2025 Ovo Energy has bought its brand from the company’s billionaire founder in a £150m deal. The Bristol-based firm, which is the country’s fourth-biggest household energy supplier, has made the move as part of a wider reorganisation. It was reported last Summer that Ovo Energy was close to hiring bankers to explore fundraising options which could [...]
ScottishPower: Court grants appeal against HMRC over £28m tax bill January 17, 2025 Energy giant ScottishPower has been granted an appeal to allow it to deduct £28m in fines by Ofgem for corporation tax purposes