An investigation by Bloomberg News alleges that certain traders at firms such as Vitol, Uniper, and SSE have used a rather blunt approach to tackle the UK energy crisis: pay
Last year, energy companies in the UK installed 94,000 prepayment meters through mandatory measures
According to the government, Scottish Power, British Gas, and Ovo were accountable for 70% of the compulsory installations.
National Grid is on standby to help households reduce their energy consumption
National Grid is available to alert households to reduce their electricity consumption in the coming days, amid a possible supply shortage.
Energy companies accused of using smart meters for ‘disconnecting customers through the back door’
Energy companies have been accused of disconnection of households by moving them to smart meters for pre-payment to disconnect them “by the backdoor”.
National Grid will activate an emergency winter plan tomorrow following French nuclear outages
After energy prices rose amid falling temperatures, the UK’s electricity network operator is ready to activate its emergency snow plan.
EU seeks $140 billion to cope with energy crisis
On Wednesday, the European Union’s executive presented plans to raise more than 140 billion euros (£121bn) in order to address an energy crisis. This has raised the possibility of winter
EU backs off Russian gas price cap after Putin threat
Ministers from the EU agree to raid energy giants in an effort to ease household financial losses.
Europe is facing a potential “Lehman Brothers” event with energy margin calls of $1.5 trillion
European energy companies face margin calls totalling $1.5 trillion in the derivatives market. Many would need to support policy to cover them amid wild swings, and skyrocketing power and gas
Oil supported by supply threats yet still set for a second weekly drop
Friday’s oil price rise was supported by supply cuts and real threats. However, crude saw the second week of declines as China’s COVID-19 curbs and aggressive interest rate increases weighed
China Is Aggressively Buying Up Cheap Russian LNG at a 50% discount
Bloomberg reported that Russia is still selling liquefied natural gases from Sakhalin-2 in the Far East to China at half the price and still making profits, citing unnamed traders.
UK National Grid in emergency talks over crucial gas supplies
The Grid will address industry concerns about the network’s insufficient capacity.