Ofgem unveils £40bn spending package but cuts investor returns for next price control period December 8, 2020 The UK’s energy companies will be able to spend a combined £40bn in investment into the country’s energy networks over the next five years, but will see returns limited under stricter new rules from Ofgem. This morning the energy regulator laid out its plans for the next “price control” period, which runs from 2021 to [...]
Italy’s Eni joins North Sea wind power grab with Dogger deal December 4, 2020 By Nerijus Adomaitis and Stephen Jewkes OSLO/MILAN (Reuters) – Italy’s Eni is buying a 20% stake in the Dogger Bank Wind Farm project from Norway’s Equinor and Britain’s SSE as it seeks to gain expertise in the sector and cut its greenhouse gas emissions 80% by 2050. The project off the northeast coast of England [...]
Cameron van der Burgh on ‘winning the swimming game’, his new life at a London hedge fund and his mental health struggles December 4, 2020 It was at the afterparty for the Rio 2016 Olympics that the seeds of Cameron van der Burgh’s move to a London hedge fund were sown. Days earlier, the South African had been beaten into second place in the men’s 100m breaststroke final by his great rival, Britain’s Adam Peaty. Van der Burgh was not [...]
Energy firms call on government to embrace emissions trading after Brexit transition ends November 24, 2020 Leading energy companies have urged the UK to embrace carbon trading after the Brexit transition period concludes and not adopt a carbon tax instead. In a letter to Boris Johnson, the group, which includes firms such as RWE and Uniper, said that tradable carbon credits remain the best way of cutting emissions. At the moment, [...]
Households face hike in energy bills due to Covid ‘bad debt’ November 20, 2020 Millions of households could see their energy bills hiked by £21 in order to compensate suppliers for unpaid customer debts incurred due to the coronavirus pandemic. Energy watchdog Ofgem is mulling whether to increase the energy price cap for 11m homes to allow suppliers to recoup these “bad debts”. The regulator said that it expected [...]
Can the government hit the targets in its 10 point climate plan? November 18, 2020 Last night Boris Johnson unveiled his much-touted 10 point plan to drive a “green industrial revolution” in the UK, creating 250,000 jobs in the process. Featuring commitments in sectors such as heating, wind power, nuclear energy, hydrogen and electric vehicles, it has been largely positively received by industry. However, some are concerned that some areas [...]
Boris Johnson to pump billions into climate change plan and confirms diesel vehicle ban from 2030 November 17, 2020 Boris Johnson has tonight unveiled his 10 point plan for the UK's "green industrial revolution", which he said would create 250,000 new jobs.
SSE joins net zero push with 2050 emissions pledge November 11, 2020 Energy giant SSE has become the latest business to commit to reaching net zero emissions by 2050, it was announced this morning. Over 1,000 companies have already signed up to the “Race to Zero” campaign, placing their operations in line with efforts to limit global warming to 1.5 degrees. The Scottish business has already put [...]
Eon maintains outlook as market recovery picks up pace November 11, 2020 Energy firm Eon today held its outlook for the full-year as it said third-quarter trading had been buoyed by a better-than-expected market recovery. The Germany-headquartered group has suffered a sharp downturn due to the outbreak of coronavirus, as well as unseasonably warm weather earlier in the year. In the first nine months it booked adjusted [...]
Energy price cap extended for a year protecting 11m households October 20, 2020 About 11m UK households will be protected from being overcharged for their energy bills for another year after the government decided to extend its price cap. The cap, which saves households on standard variable and default tariffs between £75 and £100 every year, will now last until the end of 2021. Since it was first [...]