Browsing Category
Energy
The world’s renewable energy capacities grew at a record pace in 2023
According to the International Energy Agency, the growth of renewable energy capacity in 2023 was the fastest in the past 20 years. This could help the world reach a major climate goal by the end the decade.
According to the IEA,…
Installation of rooftop solar panels in UK hits 12-year high in 2023
According to the official standards body of the industry, in 2023 heat pump installations will reach record levels, as well as rooftop solar panel installations.
Last year, almost 190 000 rooftop solar systems were installed, which is…
Chesapeake and Southwestern will create a US gas giant with a $7.4bn transaction
Chesapeake Energy agreed to purchase Southwestern Energy for $7.4bn in an all-share transaction. This will make the company the largest US natural gas producer.
With an enterprise value of approximately $24bn the combined company will be…
EDF delays closure of four UK Nuclear Power Plants
EDF Energy, the French state-owned company, announced Tuesday that four of Britain's declining fleet of nuclear plants will remain in operation for at least two more years. The operator said its goal was to stop seven years of falling…
Nuclear fusion is about to enter a new era
Today workers will start knocking down West Burton A, a coal-fired power station on the Nottinghamshire-Lincolnshire border that gave its final sparks of electricity to the grid last March.
West Burton, a coal-fired power plant in West…
The UK is facing a cold snap that has lowered nuclear power production to its lowest level since the…
The UK's net-zero goals have suffered a serious setback as the nuclear power production in Britain has fallen to its lowest levels since 1982.
According to data released by the Government and EDF, the permanent closure of Hinkley Point B…
The price cap on energy bills has increased by 5% in Great Britain
The regulator increased its price cap to reflect the rise in gas prices on the global market.
This change will take effect on 1 January 2024, which means that average households will begin the year with an increase of 5% in their energy…
Harbour Energy, UK, agrees to $11.2bn for Wintershall Dea’s assets
Harbour Energy, listed in the UK, has signed a $11.2bn agreement to purchase Wintershall Dea’s oil and natural gas assets. The deal was backed by German investment firm LetterOne and Russian oligarchs Mikhail Fridman Petr Aven.
Harbour…
Octopus Energy raises $800m to create green jobs in the UK
Octopus Energy raised $800m from its shareholders, valuing the company at almost $8bn. This comes just weeks after Octopus Energy became Britain's largest power supplier.
Existing investors such as Tokyo Gas of Japan and Al Gore’s…
Redcar’s ‘Hydrogen Village’ project abandoned following local opposition
A plan to use hydrogen to heat homes in a village in North-East England has been canceled after months of opposition.
Insufficient hydrogen production in the area will prevent the government from implementing the "hydrogen villages" in…
OECD warns that Net Zero will cost the global economy trillions.
Net zero would shrink Britain's economy by £60bn and cause the global economy to be $3.6 trillion (£2.8 trillion) smaller, according to the Organisation for Economic Cooperation and Development.
Eliminating coal and reducing reliance on…
Solar farm to power London offices
Workspace Group, a corporate landlord, has made an agreement with Europe's largest renewable energy generator to provide solar power for their offices in London.
Workspace, a flexible office provider, has agreed directly to purchase power…
Subsea project to transport renewable energy from Scotland to England is awarded £1.8bn
The contract for the 190km superhighway will cost £1.8bn. It is designed to transport renewable energy from Scotland up to the north of England.
National Grid and Scottish Power will begin construction of a "transformative", £2.5bn,…
UAE invests in UK wind farm market
The United Arab Emirates purchased a 49% stake in a major British wind farm, even though increasing costs have raised concerns about the industry's future.
Masdar, the company owned by the Gulf State and presided over by the Cop28…
Sellafield Nuclear Site under ‘robust’ scrutiny over cybersecurity concerns
The government agency responsible for cleaning Sellafield nuclear waste in Cambria was put under "special measures" due to not meeting cyber-security standards.
The Office for Nuclear Regulation is investigating Sellafield Ltd's computer…
Stellantis, owner of Vauxhall, in talks with Chinese competitor for European EV Battery Factory
Vauxhall's owner Stellantis has been in discussions with a Chinese manufacturer of batteries to build an European factory for auto cells, despite warnings from its chief executive about the danger of Beijing dominating the automotive…
Northvolt makes a breakthrough in sodium-ion batteries
Northvolt claims to have made a breakthrough with a new battery for energy storage. The Swedish start-up company believes that this could reduce the reliance on China in the green transition.
The Swedish group has been backed by…
UK gives watchdog new power to force garages into revealing profits
Fuel retailers are required to reveal profit information by next year or risk hefty fines. This is under the new powers granted to the UK Competition Watchdog to combat high fuel prices.
The government announced the measures on Wednesday…