Energy operators working to blend 20 per cent of hydrogen fuel into regular gas grid from 2023 Hydrogen Energy operators of the gas grid said this morning they will have the capacity to blend 20 per cent of hydrogen fuel into the regular gas grid from next year. This means the grid will be able to deliver more hydrogen to households across Britain, a move that could see a drop in households’ carbon [...]
Expected 50 per cent hike in energy bills may trigger ‘devastating’ national emergency for millions of older Brits Energy bills An anticipated price jump of about 50 per cent for energy bills across the country, likely from April onwards, can lead to a national emergency for millions of older people, a charity warned this morning. Age UK has urged ministers to take immediate and decisive action on energy bills to “mitigate the potentially devastating impact [...]
Centrica boss on the energy crisis: High gas bills are here to stay Energy crisis Brits have been told the energy crisis may last for two years, according to Centrica’s chief executive Chris O’Shea. O’Shea said “the market suggests” high gas prices will continue “for the next 18 months to two years”. He said the high demand for gas was partly being driven by a move away from coal and [...]
Consumers should brace themselves for runway energy bills as price rises that overwhelmed suppliers in 2021 start to trickle down January 4, 2022 Consumers should brave themselves for runaway household bills this year as the energy sector continues to struggle with soaring gas prices, which consigned a string of energy suppliers to the graveyard in 2021. Energy suppliers had been paying 54p per therm of gas at the beginning of last year. By September 2021, that had reached [...]
Energy crisis: Government sets aside £1.7bn to save ‘too-big-to-fail’ supplier Bulb November 25, 2021 Nearly £1.7bn is set aside by the government to allow Bulb to continue supplying energy to its customers as it tumbled into administration. In court on Wednesday, the company was put into special administration, which will allow it to continue to trade for the time being. The £1.69bn loan will be set aside by Government [...]
Get ready for higher bills as energy costs are forecast to climb by 30 per cent October 7, 2021 Analysts warned this morning that millions of Brits will face energy bill hikes of around 30 per cent. Research agency Cornwall Insight has predicted further volatile gas prices and the potential collapse of even more suppliers could push the energy price cap to about £1,660 in summer. The forecast is approximately 30% higher than the [...]
Energy crisis: Ofgem and Kwasi Kwarteng resist pressure and agree price cap is not going anywhere September 21, 2021 Kwasi Kwarteng and Ofgem chief executive Jonathan Brearley have confirmed they had taken a unified position over the price ceiling continuing. The energy regulator and the Business Secretary agreed the energy price cap must “remain in place” during crunch talks to find a solution to record gas costs. Kwarteng held a crisis meeting with the [...]
Brits face choice between heating and eating, warns personal finance guru Martin Lewis September 20, 2021 Thousands of Brits will be forced to make the devastating choice between heating and eating as energy bills rise, Martin Lewis has warned. The consumer and personal finance champion called the ongoing energy crisis “catastrophic” and said intervention is needed to help consumers. Soaring wholesale gas prices are putting an upward pressure on energy bills. [...]
Energy sector braces itself for wave of supplier bankruptcies as crisis grows September 20, 2021 The Government wants energy firms to “stay afloat organically”, as the growing energy crisis led to company bosses saying the outlook was “looking bleak”. Four firms have already folded and there are fears that more could follow. With wholesale prices for gas surging by 250 per cent since January, with a 70 per cent rise [...]
Ophir accepts Medco’s £391m takeover offer after bidder ups price January 30, 2019 Ophir Energy has accepted a £391m takeover bid from Indonesian oil firm Medco Energi, just over two weeks after its initial offer was rejected. Board members were convinced after Medco upped its 48.5p a share bid to 55p. Read more: DNO crowned king in battle for Faroe as shareholders and board accept increased bid Ophir becomes [...]