Gas crisis chokes third-quarter earnings at Scottish Power October 27, 2021 Scottish Power has suffered a third-quarter 39 per cent earnings drop in its retail division focusing on delivering gas and electricity to households. Liberalised Retail reported its EBITDA at £83m – a decline of £54m. The wider energy market has been ravaged by soaring wholesale energy costs. Challenging conditions across the sector have resulted in [...]
Companies risk £2.6bn loss building UK gas power plants October 19, 2021 Companies building new UK gas power plants risk losing £2.6 billion because they will be forced to abandon them before they can regain their investment, warns a new report. Financial think tank Carbon Tracker argues that most gas plants that are planned or under construction in Europe and the US will never break even. The [...]
Nord Stream 2 fills pipeline with gas ahead of regulatory approval October 18, 2021 Nord Stream 2 has been filled with “technical gas” while awaiting clearance from Germany’s regulator. The pipeline’s Swiss operator Nord Stream 2 AG has filled the first of the project’s two lines with 177 million cubic metres of gas in order to maintain pressure in the pipeline for future exports. The newly constructed 764-mile pipeline [...]
Troubles ahead for UK customers of collapsed energy firms October 18, 2021 Up to 380,000 customers of collapsed energy companies could suffer from bill shock and damaged credit ratings due to errors when moving their new suppliers. Data from solutions company Sagacity has predicted that 10 per cent of the 3.8 million customers that had to be transferred to new energy providers might suffer from data gaps [...]
Russia will look to ‘rescue’ UK in energy crisis October 17, 2021 Russia will try to “come to the rescue” of the UK amid rapidly rising energy costs, says the country’s ambassador Andrei Kelin. He told Andrew Marr that that if there is an “opportunity” to help the UK, then the country will “do what we can to alleviate difficult conditions which are now being created with [...]
Pure Planet and Colorado Energy fall victim to gas price surge as CNG looks for bids October 13, 2021 The UK’s energy crisis has claimed two more challenger companies as Pure Planet and Colorado Energy ceased trading tonight. 250,000 Brits are now ‘orphaned’ – without a provider – while the energy regulator designates stranded customers. The historic surge in wholesale gas costs this year has driven up bills for providers and households to the [...]
Putin: Russia is not using gas as a weapon October 13, 2021 Vladimir Putin has dismissed claims that Russia is weaponizing its supplies of natural gas to speed up Germany’s approval of the completed Nord Stream 2 pipeline and to destabilise European energy prices. The Russian president has described the accusations as “politically motivated blather with nothing to support it”. He believed that European governments are looking [...]
Moldova asks EU for help after Gazprom’s gas flow closure October 12, 2021 Moldova is asking European countries for help after Russian energy corporation Gazprom drastically reduced gas shipments to the country. As reported by the Financial Times, Moldova is requesting emergency gas supplies through Romania to relieve pressure, reducing shortages and easing the increase in prices. Gas supplies in the country have fallen by a third as [...]