Brits’ energy bills to hit £4,000 by January as gas prices spiral out of control August 7, 2022 The average energy bill is set to climb to nearly £4,000 a year from January as gas prices continue to push upwards, new analysis has shown. Energy consultancy Auxilione warned that the Government’s price cap, which sets bills for more than 20 million households in Great Britain, could be increased further than previously expected. It [...]
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 [...]
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 [...]
Wonks: Power prices won’t ease until 2028 despite renewable ramp-up August 2, 2022 Power prices will take five years to plateau, according to the latest market outlook from energy specialist Cornwall Insight.
Drax’s profits surge as high energy prices bolster power plant operator’s earnings July 26, 2022 Power plant operator Drax Group today said its pre-tax profits for the first half of 2022 were almost four times higher than its pre-tax profits for the same period in 2021, after high electricity prices bolstered the Yorkshire firm’s business. The North Yorkshire company – that operates the coal and biomass fired Draw Power Station [...]
Exclusive: Octopus Energy urges rival Centrica to work with them to protect consumers July 25, 2022 Octopus Energy wants to work together with rival Centrica and market regulator Ofgem to protect households ahead of the cold winter months.
Industry toasts record renewables auction as UK scrambles to boost domestic energy supplies July 7, 2022 Record levels of clean energy have been secured through the Government's largest ever funding round for its renewables auction.
Energy body: Windfall tax starting to deter investment June 19, 2022 ENERGY industry bigwigs have warned the first signs of the windfall tax’s chilling effect on investment are starting to be felt after reports that the Norwegian state energy company is considering abandoning a £4.5bn North Sea oil project. The Sunday Telegraph reported this weekend that Equinor’s involvement in the Rosebank Field was now in question [...]
Octopus Renewables Infrastructure Trust snaps up solar and battery storage plant June 17, 2022 Octopus Renewables Infrastructure Trust revealed it had snapped up two new ‘ready-to-build’ solar and battery storage projects today to boost the firm’s growing renewables portfolio.
UK’s financial watchdog vows to crack down on greenwashing June 9, 2022 The UK’s financial watchdog has said it is “actively” monitoring the markets for instances of greenwashing, involving false and exaggerated claims around ESG. The Financial Conduct Authority (FCA) told City A.M. that it has “made it a priority that investors are given clear and reliable information about ESG products,” as the watchdog said it is [...]