British Gas owner Centrica: UK has less than a week’s worth of demand for gas in store January 10, 2025 UK gas stores have fallen to “concerningly low” levels amid freezing cold temperatures, the owner of British Gas has said. Centrica said the UK now has less than a week’s worth of demand for gas in store. On Thursday, stocks at UK gas storage sites were 26 per cent lower than the same period last [...]
Shell warns of £1bn cash hit from emissions certificates payments January 8, 2025 Shell said it expects to take a $1.3bn (£1.04bn) cash hit in the final quarter from payments for emissions certificates. The energy major said on Wednesday that the charge is “related to timing of payments of emissions certificates” in Germany and the US. The London-listed company also said it expects profits in its gas business [...]
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 [...]
Myenergi crashes into the red as jobs cut December 20, 2024 Smart home start-up Myenergi has crashed into the red after its sales were cut and it shed more than 100 jobs. The Lincolnshire-based business has reported a pre-tax loss of £24.5m for the year to 31 May, 2024, after having generated a pre-tax profit of £8.8m in the prior year. Newly-filed accounts with Companies House [...]
Hunton Andrews Kurth raids EY for team of nearly two dozen lawyers December 10, 2024 Nearly a dozen lawyers have joined the City office of US law firm Hunton Andrews Kurth from Ernst & Young legal services arm, EY Law
TI Fluid Systems agrees to £1bn takeover as London exits accelerate November 29, 2024 ABC Technologies has reached an agreement to buy London-listed British manufacturer TI Fluid Systems for £1bn, following previous rejected proposals
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 [...]
Inflation is a wake-up call: We need energy sovereignty now November 22, 2024 Energy costs are continuing to drive up inflation because we have a system that’s tied to geopolitical speculation rather than supply and demand. The answer is to generat eclean power on and around our own shores, says Joe McDonald Every business owner remembers that feeling of dread in the winter of 2022 as energy bills [...]
Ofgem tells E.ON Next to pay up over prepayment meter failings November 20, 2024 The energy regulator Ofgem has told provider E.ON Next to pay up £14.5m for failing to provide final bills and refunds to its customers. E.ON failed to provide customers energy bills or give them back money owed on credit balances for prepayment meters. This comes after an investigation by Ofgem found that nearly 250k prepayment [...]
Don’t sit back and watch Thames Water ‘car crash,’ ministers told November 18, 2024 Union warnings come after a Guardian investigation alleged Britain's biggest water company is in a far worse financial state than previously thought.