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Energy
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…
Energy Bills Set to Rise Again for Great Britain Households This Winter
As the colder months approach, households across Great Britain are preparing for another increase in their energy bills. Forecasts from Cornwall Insight, a respected energy consultancy, indicate that the government's energy price cap is…
Disused Scottish Coalmine Set to Enter the Green Power Era
In the heart of southwest Scotland, near the village of Kirkconnel, lies Glenmuckloch, one of Britain's last coalmines to cease production. The year was 2017, and at its zenith, the mine produced around 500,000 tonnes of coal annually.…
Ofgem Approves 34bn Subsea Cable Project Connecting Scotland and England
In a significant move towards a greener future, Great Britain's energy regulator, Ofgem, has given the go-ahead for a £3.4 billion low-carbon electricity "superhighway." The subsea power cable, known as the Eastern Green Link, will span…
Treasury Pledges Low Carbon Investment Relief to Appease Oil and Gas Industry
The Treasury has moved to quell a heated dispute with the North Sea oil and gas industry by committing to maintain investment reliefs on low-carbon projects. This decision aims to safeguard jobs and mitigate the impact of the expanded…
Fusion Power Spin-offs Offer Tangent Benefits Amidst Long Development Timeline
The development of fusion power plants, often touted as a potential game-changer in the quest for clean energy, has been a long and arduous journey. While the ultimate goal of commercial fusion power may still be decades away, the pursuit…
Drax Power Station: UK’s Largest Carbon Emitter Despite £22bn in Clean-Energy Subsidies
The Drax power station in North Yorkshire has come under scrutiny following a report from the climate thinktank Ember, which revealed that the biomass-fuelled plant was the UK's single largest carbon emitter in 2023. Despite receiving over…
We just need to build it: Concorde’s replacement is looking at supersonic flights from America
Boom Supersonic's founder explains why air travel will be at 1,300mph in the future.
The founder of a company that is seeking to build the successor to Concorde, has reacted to "flight shame" activists calling for an end to mass travel.…
GB Energy’s tie-up with Crown Estate raises concerns about the future of UK wind industry
Ed Miliband, the UK's energy secretary, announced the partnership between GB Energy, a state-owned company, and Crown Estate on Thursday. The partnership is touted as a means to speed up the construction of thousands of offshore turbines…
British Gas’ profits are down by 84 percent as the price cap is lifted
The owner of British Gas has seen its profits plummet dramatically due to a decline in wholesale gas prices and a continued drop in energy prices.
Centrica's adjusted profits have more than halved to £1.04bn in the first half of the…
Urgent Action Needed to Prevent “Disorderly Transition” as Scotland’s Only Oil Refinery Closes
Accelerated action and intensive work are required to avoid a “disorderly and unjust transition” when Scotland’s only oil refinery closes, a report has warned. With the Grangemouth refinery expected to close in 2025, the Just Transition…
Thames Water to liquidate its solar energy subsidiary amid debt crises
The complex corporate structure of Thames Water will be put under strain by the financial crisis that has engulfed the water provider.
It was revealed that Trinzic Operations Ltd., which is owned by Thames parent company Kemble Water…
Industry says delays in port infrastructure could threaten UK’s transition towards net zero.
Big ports say that the UK's transition towards net zero is threatened by delays in the approval of new infrastructure, which puts billions of dollars of investment into offshore wind schemes as well as other essential upgrades at risk.…
As UK price cap falls, millions of people will pay less for their summer energy bills
The energy price cap in Great Britain will be reduced by £122 per year, which is equivalent to £1,568 annually for the typical charge.
The latest cap only applies from July to the end of September. Bills are expected to increase again…