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 [...]
Get ready for higher bills as energy costs are forecast to climb by 30 per cent October 7, 2021 Analysts warned this morning that millions of Brits will face energy bill hikes of around 30 per cent. Research agency Cornwall Insight has predicted further volatile gas prices and the potential collapse of even more suppliers could push the energy price cap to about £1,660 in summer. The forecast is approximately 30% higher than the [...]
Record high: Energy bills for 15m UK households to increase by at least £139 October 1, 2021 As suppliers grapple with soaring wholesale prices, energy bills for around 15m UK households will increase by at least £139 to a record high from today under Ofgem’s latest price cap. The regulator decided in August that energy customers on default tariffs paying by direct debit will see the sharpest jump in prices since the [...]
COP26: Standardising climate reporting could slash pension scheme cash burden September 30, 2021 Standardising climate-related reporting could “considerably” slash the cash burden for pension schemes, the Work and Pensions Committee has said. Calling on the UK to up its leadership on fossil fuel-investing pension funds ahead of COP26, the Committee has urged the Government to encourage other countries to make their local pension schemes disclose their climate-related financial [...]
SSE Renewables jumps into Japanese offshore wind with $208m stake September 29, 2021 SSE Renewables has jumped into Japan’s offshore wind farm market with a $208m joint venture with local renewables company Pacifico Energy. The alliance will see the energy firm’s develop offshore wind energy projects in Japan, as the country seeks to become net-zero by 2050. SSE shares dipped 0.5 per cent to 1,586.5p in its afternoon trading. [...]
Watch as 90 per cent of gas stations across England run dry due to panic buying September 27, 2021 90 per cent of British fuel stations ran dry across major English cities today after panic buying deepened a supply chain crisis, according to Reuters. Watch the full report.
Shell Energy adopts 255,000 customers from collapsed supplier Green September 27, 2021 Shell Energy has adopted 255,000 customers from recently collapsed Green Supplier, just one week after British Gas took on 350,000 customers from People’s Energy. Industry regulator Ofgem appointed Shell Energy to take on the extra customers, whom had been fearing higher energy bills this winter as a result of losing their supplier. Outstanding credit balances, [...]
Watch as London drivers feel the pinch with gas stations running dry September 27, 2021 Lengthy queues of vehicles snaked their way to gas stations in London this weekend where an acute shortage of truck drivers has led to fuel rationing and some pumps running dry, and prompted the government to consider issuing temporary work visas. Watch the full report.
Ex-Tesco boss Dave Lewis behind £16bn link to import clean energy from Morocco September 26, 2021 A £16bn project to build the world’s longest power link will supply seven million UK homes with ‘near constant, low-cost clean energy’ according to its new chair, former Tesco boss Sir Dave Lewis. The renewable energy plan by Xlinks will take power from 10.6 gigawatts of large-scale solar and wind farms in Morocco via a [...]
Homelessness: ‘Perfect storm’ for 5.3m renters as gas prices jump, furlough ends and Universal Credit is cut September 26, 2021 With energy prices rising, the furlough scheme due to end on Thursday and Universal Credit being cut a week later, a “perfect storm for homelessness” is looming for struggling renters. More than a quarter of renters already struggle to heat their homes in winter. A survey carried out by YouGov on behalf of housing charity [...]