What’s happening in the wider world of business energy? Here are some key current headlines.
The world’s biggest fossil fuel producer, Saudi Aramco, was named as the most valuable listed company in history with a market value of £1.4tn.
The valuation makes Aramco more valuable than Apple and Facebook combined. According to The Guardian, it is also twice the size of Amazon and Alphabet, Google’s parent company, and bigger than the next five listed oil companies put together.
The UK’s competition watchdog has cleared Ovo Energy’s takeover of SSE’s energy supply arm. Ovo would become the second largest energy supplier in the country. SSE revealed plans to exit the energy market over two years ago as the government prepared to bring in its energy price cap for 11 million households using standard variable energy tariffs. Read the full story.
More than half of the UK’s main local authorities have declared a climate emergency since April, with many setting net zero targets. Some have pledged to be net zero by 2030 which is well ahead of the government’s 2050 deadline, according to The Carbon Trust.