Octopus Energy stated that it decided not to make its first annual profit after spending £150m on trying to lower customers’ electricity and gas bills.
Brexit deal in danger amid concerns that Rishi Sunak will give in to EU demands
The Democratic Unionist Party (DUP), and Tory backbenchers have warned Rishi Sunak against “giving in” to the EU during negotiations over Northern Ireland Protocol.
Research finds that Brexit has added almost £6bn to UK’s food bills over the past two years
Research has shown that Brexit increased the UK’s food bill by almost £6bn in the two years up to 2021. This impacted the poorest households the most.
Ofgem says that energy bills without government help would reach nearly £4,279
Ofgem, the British energy regulator, stated that its price cap for household energy bills would increase by 21% to £4,279 ($5,172) per year from January 2023 to March 2023.
EU may subsidise cheap power for Britain, Brussels are not happy
After it was revealed that the EU may be subsidizing cheap power for Britain, plans to reduce EU energy bills have been criticized in Brussels.
Falling gas prices could lead to a £60bn reduction in the cost of energy bailout
The success of fill gas storage efforts could reduce prices by half by next year.
Inspirit Energy Hlds (AIM:INSP) Waste Heat Recovery System Update
Inspirit (LON: INSP), the technology and engineering solutions company, is pleased to provide a further update, following the announcement on 27 June 2022, regarding the Company’s Waste Heat Recovery (“WHR”)
British Gas owner Centrica to cap profit to cut energy bills – Guardian reports
Britain’s largest energy supplier Centrica plans to cap its profits to reduce household bills, according to the Guardian newspaper. Chief Executive Chris O’Shea was quoted by the Guardian.
The UK goes big to ease energy shock, EU meets on Friday
Britain will limit consumer energy bills over two years and channel billions of dollars to power companies, Liz Truss, the new leader of the country’s energy department, said Thursday. This
The UK will announce many new North Sea oil-and-gas licences
Two sources familiar with British discussions indicated that the British government will announce many new North Sea oil- and gas exploration licenses to increase domestic production.
UK biggest gas supplier Norway willing to discuss price cap
Norway is open to discussing long-term gas deals and price caps, which could help lower the UK’s sky-high energy costs.