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Energy
Martin Lewis: UK’s smart-meter targets are leaving energy consumers shortchanged.
According to consumer advocate Martin Lewis, the government's "perverse" targets for installing electronic smart meters at homes in the UK are causing energy customers to be shortchanged.
Lewis, the founder and chair of…
BP will sell American onshore wind farm
BP plans to exit the American onshore Wind Market with ten wind farms, as its new boss tries simplifying the business and boosting returns.
The FTSE-100 energy group is selling its existing US onshore winds farms. These wind farms span…
Britain’s Energy Grid Goes Public: Will It Bring Lower Bills and Faster Renewables?
National Grid PLC, the company responsible for operating Britain's electricity grid, is set to sell its electricity system operating (ESO) to the government, marking a significant shift in the energy landscape. This move will see control of…
Chinese startup aims to achieve nuclear fusion for half the price of US competitors
China is racing with the West to commercialise the revolutionary clean energy. A Shanghai-based start-up wants to raise $500mn for the development of cheaper nuclear fusion technologies.
Since decades, nuclear fusion - where hydrogen…
Serica warns that the energy profits tax could hinder North Sea projects
The head of a large North Sea oil producer warned that an "punitive tax regime" would hinder its plans to further invest in Britain.
Chris Cox confirmed, as well, that Serica Energy was also looking to acquire companies outside of the…
Is hydrogen really ready to take flight?
The concrete test track in Bedfordshire is a circular swath through lush countryside. It's usually the place where high-performance vehicles are tested, but last weekend it was a less frantic form of transportation: a hydrogen prototype…
UK needs to invest £1tn over 10 years in order to achieve economic targets
City taskforce says the UK will need to invest £1tn over the next 10 years if it is to meet its economic growth goals.
The Capital Markets of Tomorrow Report, headed by City veteran Sir Nigel Wilson and former Legal & General boss,…
New Offshore Wind Farms to Add Minimal Cost to Energy Bills
Recent forecasts suggest that the impact of new offshore wind farms on household energy bills will be relatively modest. According to predictions by Cornwall Insights, a leading energy consultancy, these renewable projects are expected to…
North Sea Windfall Tax Causing Irreversible Damage to UK Energy Sector
The chief executive of Enquest, a major North Sea oil and gas producer, has issued a stark warning about the detrimental effects of the windfall tax on offshore oil and gas operations. Amjad Bseisu claims that the Energy (Oil and Gas)…
Britains Coal Power Era Ends After 140 Years Marking Milestone in Energy Transition
The United Kingdom is set to close its final coal-fired power station at the end of September, marking the end of a 140-year reliance on coal for electricity generation. This closure is a significant step in the nation's efforts to…
Nuclear Power in Britain Faces Challenges and Opportunities as Labour Takes the Helm
The UK's nuclear power sector is at a pivotal moment as Labour's Energy Secretary, Ed Miliband, prepares to announce the next steps in Britain's nuclear revival. Key decisions are imminent regarding two significant initiatives: Sizewell C…
Record Breaking Renewable Energy Auction Secures Nine New Offshore Wind Farms
The government's first renewable energy auction has resulted in a record-breaking 131 new green infrastructure projects, including nine offshore wind farms. This is a notable increase from the 92 projects approved in the previous auction,…
Chinese Backed Battery Storage Project Approved After UK Security Review
The UK government has approved a significant battery storage project with connections to China after a national security review. Chancellor of the Duchy of Lancaster Pat McFadden has greenlit the development of an 80-megawatt storage plant…
North Sea Oil Project Faces Uncertainty as Neo Energy Slows Investment
The future of a significant £900 million oil and gas project in the North Sea is uncertain as Neo Energy, the lead developer, plans to reduce investment. This decision is influenced by increased windfall taxes and the potential…
Mining Executives Caution Against Mergers and Acquisitions Frenzy Amidst Dealmaking Boom Predictions
As predictions of a dealmaking boom in the mining industry gain traction, top executives are urging caution, warning against repeating past mistakes. Companies are eager to secure commodities critical for clean energy, such as copper, which…
GB Energy Commences Recruitment as Headquarters Location Announcement Looms
The UK government has initiated the hiring process for GB Energy, with plans to reveal the location of the state-owned company's headquarters in Scotland next month. The Department for Energy Security and Net Zero has advertised "mid-senior…
Energy Bills Set to Rise Ofgems Price Cap Increase Means Its Time to Consider Fixing
It has been widly reported that the energy regulator Ofgem's price cap is set to rise by 10 per cent on 1 October, reaching £1,717 for the average household. This significant increase means that, for the first time since 2021, it could be…
Ithaca Energy Profits Plummet Amid Falling Gas Prices and Production
Ithaca Energy, a prominent North Sea energy firm, has reported a significant drop in its interim profit due to reduced production and declining gas prices. The company's production decreased by nearly 30%, and gas prices also fell. Despite…