Liquidity help urgently needed to ride out Europe’s energy crisis, say traders
An emergency life-raft of time-limited liquidity support is needed if Europe’s wholesale energy markets are to survive the price rollercoaster caused by the globe's...
Shell ‘sorry’ for Russian trade, pumps country’s profits towards Ukrainian refugees
Oil supermajor Shell today announced its intention to exit petrol retailing in Russia and cease trading in the country’s oil and gas, as its...
Frack Britain back to the future, demands backbencher, as oil hits $130 a barrel
The Conservative leader of the hard-right Net Zero Group this morning announced a co-ordinated call for a revival of Britain’s fracking industry, in response...
Speed up renewables’ roll out to loosen Putin’s gas chokehold, EU chief urges
Accelerating Europe’s deployment of clean power from wind, solar and geothermal heat must be the continent's priority, as it battles to ease Russia’s grip...
BP and Shell sever Putin ties, as Total retains them
Divestment by western fossil fuel majors from partnerships in Vladimir Putin's Russia stumbled onwards today, with observers questioning continuing involvement by TotalEnergies and Exxon.
Shell,...
Schtum on prices, Centrica boss says UK gas supplies ‘unaffected’ by Putin’s Ukraine attack
British Gas’ eleven million consumers will face no interruption to gas supply after Vladimir Putin unleashed his duplicitous attack today on democratic Ukraine, Centrica’s...
Germany suspends Nord Stream 2, in reaction to Putin’s Ukraine provocation
Chancellor Olaf Scholz this morning halted Germany’s licencing of the completed Nord Stream 2 gas pipeline in reaction to Russia’s recognition of two rebel...
CRISIS: SoLR expenses for failed suppliers adds £34 in DUoS charges to every bill,...
Beleaguered energy regulator Ofgem today faces fresh evidence of the costs its oversight of failed power suppliers has inflicted on consumers, in consequence of...
CRISIS: Every quarter given: Ofgem doubles frequency of price cap review
Ofgem today committed itself to three-monthly reviews of the default retail price cap, doubling their half-yearly frequency. The move will take effect after the...
Sunak reacts to Ofgem’s “once in 30-year event”, as cap on energy bills rockets...
The new default price cap on home energy bills will rise 54% in April to £ 1,971, regulator Ofgem announced this morning. The...
Crisis: Without market redesign, expensive gas could ‘continue beyond 2030’, Cornwall predicts
Respected energy analysts Cornwall Insight today found themselves at odds with Britain’s embroiled prime minister, as they revealed research predicting that volatile gas prices...
Renewables-supporting Brits reject scrapping ‘green taxes’ to fend off price hikes
A poll of 2,000 Britons released today gives the lie to beliefs propagated by MPs and newspapers on the Conservative right that the public...
Crisis latest: Kwarteng stands by price cap, downplays government relief on bills before March
Energy secretary Kwasi Kwarteng today re-stated his commitment to a continuation of the default price cap, urging energy customers and retailers to bide their...
Cornwall Insight: Overhaul market design to boost sensitivities between wholesale and retail
Root and branch reform of UK wholesale and retail energy markets is needed to avoid repeats of impending market failures threatening to pitch millions...
Ovo “to cut 1,700 jobs” amid crisis
Ovo Energy is reportedly contemplating cutting up to a quarter of its workforce, as the world’s accelerating wholesale gas crisis bites into its biggest...
Crisis: Gas hike set to outlast “temporary” Johnson, as Centrica and Ovo moot green respite
Britain’s head of government, confessed attender at a No 10 lockdown party and late apologist for insulting the conscientious, suffered further humiliation today, as...
Crisis latest: Windfall tax on oil majors, say Labour: Keep Net Zero measures & tax carbon,...
The ‘temporary’ energy price crisis of suspected No.10 party-attender and beleaguered premier Johnson has ground on into its fourth month, with an appeal from...
Gas crisis: Energy companies float CfD variant as solution
Energy suppliers are asking the government to launch a variant on contracts for difference (CfDs) as a way of spreading the rocketing costs of...
Ofgem cushions SoLRs’ costs with £1.8 billion, as generators seek £20 billion loan to...
Britain’s power and gas retailers have reportedly convinced D-BEIS in principle to draw up a loan scheme, granting them leeway to fight a potential...
Where’s Rishi? Energy leaders seeks Chancellor’s help to stave off rocketing bills
A group representing Britain’s energy suppliers and generators today predicted bills next year will rise by between 45% and 50%, and called today for...