Ofgem’s decision to lower its energy price cap will result in a reduction of approximately £425 in annual household energy bills, making gas and electricity more affordable throughout Britain.
Sunak Initiates Withdrawal from North Sea – Observe the Decline of UK Oil Production
In the early 2000s, the North Sea oil and gas industry, centered around Aberdeen, reached its pinnacle, producing over 2.7 million barrels of oil each day, which accounted for 3.6%
Britishvolt had discussions with the government and funding prospects prior to its collapse
Before collapsing in January, Britishvolt held multiple meetings with the government but was unable to access a promised £100 million public grant.
It is anticipated that the UK government will provide windfall tax relief to energy companies
Next week, the UK government is expected to offer windfall tax relief to its oil and gas companies. This move aims to boost investments and enhance the country’s energy security,
Britishvolt collapsed owing about £160 million to unsecured creditors
Britishvolt, which owed approximately £160 million to unsecured creditors, is expected to provide only a minimal dividend from its insolvent estate.
Energy providers prepare for Jeremy Hunt to extend bill support
Jeremy Hunt is expected to extend the government’s energy price guarantee at its current level for three more months, preventing household bills from increasing by an average of £500 from
The oil and gas sector in the UK has raised concerns that the imposition of windfall taxes is discouraging investment in the industry
According to the trade body of the UK oil and gas industry, Offshore Energies UK, companies in the sector are reducing their operations in the North Sea and prioritizing investment
UK Energy bills to rise by £500 under Ofgem price cap
Starting from April, Ofgem is reducing the maximum amount energy suppliers can charge consumers by almost £1,000. The regulator has cut the price cap to £3,280 from the current £4,279
Plans for UK first electric car battery gigafactory are back on track – Britishvolt
Recharge Industries, an Australian battery manufacturer, has finalized its acquisition of the collapsed Britishvolt start-up. The company intends to fulfil the failed firm’s proposal to construct a £3.8bn gigafactory in
Energy bills to rise £500 from Easter, despite falling gas prices
Despite falling gas prices and warmer weather, households will likely have to pay £500 more for energy starting in April.
Natural gas is set to record its third weekly gain this year
European gas prices have surged for the third consecutive day, as western parts of the region are bracing for icy weather next week.