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
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.
Ofgem has announced a investigation in British Gas
Ofgem has initiated a broad, unbiased, and comprehensive evaluation of British Gas following the disclosure of its subcontractors’ unlawful entry into households to install prepayment meters.
Breaking: Household energy bills to be 13pc lower by the summer
In July, household energy bills are predicted to decrease by 13%, as the price cap is projected to reduce to £2,165 per annum.
Levies are pushing up the cost of renewable projects by up to 50pc
Industry leaders are cautioning that windfall taxes are driving up the expenses of green energy projects by up to 50%, causing international investors to become apprehensive about a profit raid.
UK’s shortest-serving PM Liz Truss blames economic orthodoxy for its downfall
Truss’s term was ended last year when her largely unfunded mini-budget and tax cuts drove up borrowing costs, and mortgage rates and sent the pound plunging. This shattered Britain’s reputation
In a deal to end UK dependence on Russia, the US doubles its gas exports
The US will double its gas exports to the UK. This announcement comes as the US faces the first major test in terms of energy resilience following the conflict in
North Sea oil producers want a price floor to limit UK windfall taxes
Executives and industry sources suggest that the British government should establish a price ceiling to reduce the impact of its windfall tax on North Sea oil and gas producers. Some
A six-year-high for British natural gas export to Europe
The six-year-old high in British natural gas exports to Europe is a result of Brussels’ efforts to reduce its dependence on Russian energy sources.
In response to Sunak’s windfall tax, Total draws investment from the North Sea
TotalEnergies, a French oil giant, has been the first major North Sea operator that has cut investment directly as a result of Rishi’s windfall tax.