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 [...]
Clean energy investment crucial for reducing market volatility, says oil body October 13, 2021 Global volatility in the energy market and further price rises will continue without a major boost in clean energy investment, warns the International Energy Agency. Executive director Fatih Birol believes the transition to net-zero carbon emissions will remain unstable, unless future energy needs can be financed. As economies shift from fossil fuels and less sustainable [...]
Rescue loans considered for manufacturers within bonus curb conditions October 12, 2021 Ministers are considering offering manufacturers rescue loans to help them weather rising energy prices, if they restrict bonuses. Steel, chemical and ceramics manufacturers will be asked to limit bosses’ bonuses and dividends under plans, The Telegraph reported. Business secretary Kwasi Kwarteng is understood to have submitted such a proposal to the Treasury within options to [...]
More energy supplier collapses anticipated October 12, 2021 Energy regulator Ofgem is readying itself for a new wave of supplier collapses. At least four suppliers were reported to be in talks with Ofgem on Tuesday, according to Sky News. The companies were understood to be discussing joining the Supplier of Last Resort (SOLR) system. Some companies could make public a decision to cease [...]
Cabinet office minister warns businesses giving bonuses and dividends to not expect government support October 12, 2021 Struggling companies facing high gas prices could be refused a government bailout this winter if they have paid out big dividends and bonuses. Cabinet office minister Steve Barclay told Times Radio that the Treasury would scrutinise whether any interventions represented “value for money”. He said: “It’s right from a taxpayer point of view, mindful of [...]
Carney backs government support for energy users during gas price crisis October 12, 2021 Mark Carney believes the UK government should support energy users hit by rapidly rising energy costs. With gas prices soaring to record levels, the former governor of the Bank of England appeared to lend his support to the Prime Minister’s upcoming bail-out plans for businesses. The government is set to provide state loans to struggling [...]
Energy bills for small businesses set to double this winter October 12, 2021 British businesses could see their energy costs rise by 125 percent this winter, as they are not included in Ofgem’s price cap which limits household bills. The average household in the UK benefits from an energy price cap that is currently set at £1,277 per year., although the price cap is expected to increase substantially [...]