Prime Minister Rishi Sunak to meet energy leaders ahead of new pledges July 30, 2023 Prime Minister Rishi Sunak and energy security secretary Grant Shapps will meet industry leaders from across the energy sector.
Ofgem pledges energy supplier profit bonanza will be a ‘one off’ July 27, 2023 The mega profits unveiled by energy retailers this week are a one-off, pledges market watchdog Ofgem after a bumper week of earnings.
Income falls for Total Energies as refining profits slump July 27, 2023 French oil company TotalEnergies posted a drop in second-quarter net income on Thursday, reflecting lower natural gas prices,
Scottish Power posts £576m profits as energy firms rebound after Ofgem move July 27, 2023 Scottish Power is the latest energy firm to post a hefty rebound in profits, powered by Ofgem's decision to permit generous allowances.
Drax locked in talks with UK government over £2bn carbon capture project July 27, 2023 Drax has confirmed talks are still ongoing with the government over its multibillion pound plans to develop its BECCS facilities.
EDF swings to profit with energy firm powered by price increases July 27, 2023 French nuclear power giant EDF swung to profit in the first half of the year, rebounding from a record loss in 2022.
British Gas rakes in almost £1bn as Centrica unveils near ten-fold earnings increase July 27, 2023 British Gas has posted record profits, fuelled by Ofgem's lucrative allowances in the energy price cap, totalling nearly a billion pounds.
Shell Q2 profits slide (to just the $5.1bn) as firm announces share buyback scheme July 27, 2023 Shell has announced a hefty new share buyback programme and raised its quarterly dividends, despite a downturn in profits.
Energy sector shows early support for Ofgem’s new financing rules July 27, 2023 The energy industry has shown initial signs of supporting Ofgem's announced capital adequacy reforms, following the collapse of 30 suppliers.
Ofgem moves to shore up energy sector risk consolidating big firms’ market power July 26, 2023 Suppliers are facing tightening financial rules from regulator Ofgem, which is desperate to avoid a repeat of the domestic energy crisis.