Budget 2021: Steel sector bemoans “missed opportunity” as energy costs continue to rise October 27, 2021 The Budget was a “missed opportunity” for the country’s steel sector, argues the UK Steel and Community Union. The organisation has criticised Chancellor Rishi Sunak, believing he has left the steel sector “high and dry” by the lack of action on electricity prices and its failure to set out a clear plan for decarbonising UK steel production. [...]
China shut out of UK nuclear plans as Kwarteng sets out new funding model October 26, 2021 The UK’s nuclear energy programme is being revitalised with a rebooted funding model to shut out Chinese companies and replace its ageing power facilities. Business secretary Kwasi Kwarteng has announced The Nuclear Energy (Financing) Bill ahead of the Budget today. The UK will now utilise the Regulated Asset Base (RAB) to front-load costs to consumers [...]
SMEs fear high energy costs will act as a barrier to growth October 25, 2021 Seventy per cent of small and medium enterprises (SME) owners believe that high-energy costs will negatively affect the growth of their businesses, according to a new survey from Tyl by Natwest. The group questioned 500 UK SME business owners, and discovered that 65 per cent of SMEs are spending up to one fifth of their [...]
Goto Energy collapses amid energy price crisis October 18, 2021 Goto Energy has ceased trading. It is 16th energy supplier to go bust this year and the 13th since the crisis began in September. The sector is struggling to cope with record high gas prices. Soaring wholesale costs combined with the £1,277 price cap on the average energy customer has resulted in many energy firms [...]
Troubles ahead for UK customers of collapsed energy firms October 18, 2021 Up to 380,000 customers of collapsed energy companies could suffer from bill shock and damaged credit ratings due to errors when moving their new suppliers. Data from solutions company Sagacity has predicted that 10 per cent of the 3.8 million customers that had to be transferred to new energy providers might suffer from data gaps [...]
Fears among energy providers that colder temperatures will lead to collapse October 18, 2021 The UK energy industry fears that, after small providers have gone bust because of the energy cap, now it’s the turn of big companies especially as temperatures go down. As reported by the Times, even if 13 companies have ceased operations in the last couple of months the UK Government has refused to set up [...]
Russia will look to ‘rescue’ UK in energy crisis October 17, 2021 Russia will try to “come to the rescue” of the UK amid rapidly rising energy costs, says the country’s ambassador Andrei Kelin. He told Andrew Marr that that if there is an “opportunity” to help the UK, then the country will “do what we can to alleviate difficult conditions which are now being created with [...]
Putin could miss COP26 climate conference October 17, 2021 Vladimir Putin has not decided whether to attend the upcoming COP26 climate conference in Glasgow later this month. Russian ambassador to the UK, Andrei Kelin, told Andrew Marr that a decision on the president’s trip has “not been taken yet”. This follows Wednesday’s comments from the Russian premier that he might avoid the conference due [...]
Five sites shortlisted for UK fusion energy plant October 14, 2021 Five sites in England and Scotland have been nominated as the potential home of the UK’s first prototype fusion energy plant. The nominees include Ardeer, Goole, Moorside, Ratcliffe-on-Soar, and Severn Edge. The government is backing the Spherical Tomahak for Energy Production (STEP) programme to the tune of £222m. which aims to build a prototype fusion [...]
Octopus Energy and RES commit £3 billion to build new UK hydrogen plants October 14, 2021 Octopus Energy and RES will invest £3 billion in the construction of new hydrogen plants across the country by 2030. The aim is to help the UK become more energy independent. The new plants will maximise electrons when they are generated in abundance on sunny and windy days by storing them as green hydrogen. In [...]