Emergency talks: Chancellor and energy bosses hold crisis meeting as gas bills risk climbing to £4,400 August 10, 2022 Chancellor Nadhim Zahawi and Business Secretary Kwasi Kwarteng will hold emergency talks with energy sector chiefs today as the price cap was forecast to hit more than £4,400 in January. In a new dire outlook for households, Cornwall Insight said bills are set to soar to around £3,582 in October, from £1,971 on Tuesday, before [...]
Insurers grapple with transition to a greener world August 10, 2022 Last week, a coalition of thirteen of the UK’s major insurers vowed to cut their supply chain emissions as part of the Sustainable Markets Initiative’s (SMI’s) sustainable supply chain pledge. In signing the SMI pledge, the 13 insurers and brokers – including Axa, Phoenix, Lloyd’s, and Direct Line – vowed to work with their suppliers [...]
Half of all Brits risks falling into fuel poverty before the end of this year in harshest economic climate ever August 6, 2022 UK adults say the current economic climate is the harshest they have experienced, with half of all Brits either unable or soon to be unable to pay all of their bills. Millions of Brits are concerned about the months ahead as 47 per cent said they are not confident in their ability to pay their [...]
Exclusive Q&A: Ramboll on hydrogen’s role in the UK energy sector August 5, 2022 City A.M. sits down with John Mullen, UK Energy Market Director at Ramboll to discuss the viability of domestic hydrogen production.
Energy watchdog Ofgem to review price cap quarterly ahead of ‘challenging winter’ August 4, 2022 Energy regulator Ofgem said this morning that the energy price cap will be reviewed quarterly, rather than every six months, as it warned that customers face a “very challenging winter ahead”. The regulator said the change would go “some way to provide the stability needed in the energy market”, adding: “It is not in anyone’s [...]
Can hydrogen boost the UK’s energy security? August 2, 2022 The Government’s supp;y security strategy gives a clear role for low-carbon hydrogen, but what role can it play in our energy sector?
BP boss confirms higher taxes in line with profits as Labour calls for investment relief to be scrapped August 2, 2022 BP boss Bernard Looney has confirmed the energy company will be paying more taxes in line with near-record quarter results.
Government rolls out £635m to boost energy efficiency across public buildings August 2, 2022 Hundreds of public buildings across England could be eligible for energy efficiency upgrades, as it looks to drive down energy bills.
Hinkley Point B set for closure as winter crisis looms July 31, 2022 Hinkley Point B is set to close next week, leaving the UK with only five operating nuclear power stations this winter.
BP to unveil bumper profits as Brits face record energy bills this winter July 31, 2022 BP will follow in the footsteps of their rivals and unveil record quarterly profits next Tuesday, as Brits face record energy bills this winter.