ScottishPower is hiking energy prices while British Gas says it will extend its price freeze February 10, 2017 Another Big Six energy provider is raising its prices – this time its ScottishPower. The utility firm said more than a million customers will be affected by the rises. Dual fuel prices will increase by an average of 7.8 per cent, electricity prices will jump 10.8 per cent and gas prices will raise 4.7 per cent. ScottishPower blamed [...]
It’s time for big oil to embrace the digital age February 8, 2017 The 2014 oil price bust very quickly changed the agenda of the oil industry, prioritising efficiency as a tool of keeping costs down. This emphasis on efficiency was the best outcome of the crisis that pushed the larger part of the industry into survival mode. Now the crisis is over, or at least sector players [...]
British Gas is planning to hit millions of customers with increased energy prices February 8, 2017 British Gas is to roll out an increase to energy prices that could add nearly £100 a year to millions of its customers' annual bills, according to reports. The energy giant will raise bills for 11m customers by as much as nine per cent, the London Evening Standard originally reported. The hike could come as soon [...]
BP’s profits set to halve for the second year in a row due to low oil prices February 5, 2017 Energy giant BP’s full-year profits are expected to halve to under $3bn, down from almost $6bn last year. The predicted fall in annual profits comes at the end of a year of low oil prices and a difficult environment for downstream business. BP’s investor relations team projected underlying profit of $560m (£448.5m) for the final [...]
After the FTSE 100’s 37 per cent return, should I still invest? February 3, 2017 The rise in the FTSE 100 since a low last February has been remarkable. The index was up 33% between 11 February 2016 and mid-January 2017. Including dividends, the index returned 37%. The index also recorded a fresh all time high during that period, reaching 7,337.81 on 13 January 2017. Stocks in certain sectors [...]
After the FTSE 100’s 37% return, should I still invest? February 3, 2017 The rise in the FTSE 100 since a low last February has been remarkable. The index was up 33% between 11 February 2016 and mid-January 2017. Including dividends, the index returned 37%. The index also recorded a fresh all time high during that period, reaching 7,337.81 on 13 January 2017. Stocks in certain sectors led [...]
SSE has lost thousands of customers, but it says its financial targets remain on track January 31, 2017 SSE, part of Britain's Big Six energy providers, said it lost customers in the third quarter but said it is on track to deliver a dividend increase. The figures In a trading update for the third quarter, Britain's second-largest energy provider said it lost another 50,000 customer accounts for a total of 8.08m total energy accounts, in line with customer [...]
China, Mexico, Japan: Who’s afraid of Trump’s protectionism? January 31, 2017 Anyone hoping that Donald Trump’s campaign promises were just talk can’t have been encouraged by this weekend’s events. Stock markets fell and the dollar was volatile yesterday on the news that the President had signed an executive order banning the entry of people from seven countries. Assumptions that he would row back from his more protectionist [...]
Deals from energy providers are rising as Britain’s cheapest rate has gone up £100 in six months January 26, 2017 The cheapest energy deal on the market has risen £100 – 14 per cent – in just six months, new data suggests. An analysis of the market showed the cheapest deal in July 2016 was Iresa's Flex 1 tariff, costing £734 per year. Now, the best deal is Iresa's Flex 4 tariff, which costs £834 per year, found [...]
Oil production is set to outpace demand while overall global energy demand increases into 2035 January 25, 2017 Global energy demand is set to rise by 2035, but oil prices are likely to remain low while production increases faster than demand. In the next 20 years, energy demand will increase around 30 per cent across the globe, although it will be offset by rapid gains in energy efficiency, according to an analysis of long-term energy trends. BP's annual Energy [...]