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 [...]
Tonik Energy latest supplier to cease trading October 6, 2020 Tonik Energy has become the latest household supplier to go bust, with 250 employees set to lose their jobs. The Birmingham-based company’s 130,000 customers will be protected by regulator Ofgem and passed on to a new supplier. Last week, Ofgem said seven small British energy suppliers, including Tonik, owe a total of £34m, urging them [...]
Hydrogen holds the keys to unlocking a zero carbon future July 21, 2020 Today, we should have been celebrating the opening ceremony of the Tokyo 2020 Olympic Games. Following their postponement to 2021, the Games will make history for being the first Olympiad to take place outside of the four year cycle since the modern Olympics began in Athens in 1896. They will also make history for another [...]
Time for an energy revolution? Creating opportunity after a crisis July 16, 2020 The Covid-19 pandemic is a tragic event we hopefully will not see again in our lifetime. The human destruction and the strain on global healthcare systems have been devastating. There are no winners from this crisis. Still, it was Winston Churchill who said “never let a good crisis go to waste”. That certainly rings true [...]
Construction work begins on €2bn Viking Link subsea power cable July 13, 2020 Construction work on the world’s longest subsea power cable, the Viking Link, has today begun, the National Grid has announced. Running between Bicker Fen in Lincolnshire and South Jutland in Denmark, the 764km power line will be able to provide renewable power to 1.4m households upon completion in 2023. Today, Siemens Energy, which will build [...]
An open letter to the PM: Britain must build Sizewell C — nuclear sits at the heart of a green recovery July 12, 2020 An open letter to Prime Minister Boris Johnson, business secretary Alok Sharma, and chancellor of the Exchequer Rishi Sunak We are writing as engineers, nuclear experts, scientists and concerned citizens to applaud your commitment to fighting climate change through energy policy, in particular the commitment to proceed with new nuclear construction at the same time [...]
Ofgem to bring in new checks on energy suppliers June 25, 2020 The UK’s energy watchdog will put in place more stringent checks on the country’s energy suppliers after a spate of collapses over the last two years. Ofgem today laid out a new set of proposals to increase scrutiny on the domestic market, having already set out tougher regulations for new entrants to the sector. A [...]
Global energy investment set to slump by record $400bn in 2020 May 27, 2020 Global energy investment is expected to suffer its greatest annual fall on record this year due to the coronavirus crisis. Investment is set to crash by $400bn (£325bn) — or 20 per cent — in 2020, according to the International Energy Agency (IEA). At the start of the year, funding was on track for a [...]
Environmental taxes: Will the Chancellor break with history, raise fuel duty and go further? March 6, 2020 | City Talk Looking to the manifesto, it would be hard to predict what the Budget would contain on environmental taxes. In common with the other main political parties, there were few direct commitments among the rhetoric. Beyond a statement on plastics packaging tax, we saw only a promise to “prioritise the environment in the next Budget, investing [...]