Over two thousand North Sea wells involved in oil and gas extraction are to be decommissioned at a cost of around £20bn over the next decade, says a new report by Offshore Energies UK (OEUK). The report finds UK decommissioning is expanding fast and predicts a surge in activity...
Tidal stream energy is at the ‘point of commercialisation’ according to a new report by Offshore Marine Catapult, a government-backed research centre. While tidal power is always likely to supply a smaller proportion of Britain’s renewable energy, the report says it could play a crucial part in decarbonising the...
Many businesses remain concerned about the rising cost of energy, despite the Government’s new measures to help alleviate the problem. The BBC reported widespread concern, from business owners in the hospitality industry through to those running leisure venues with large spaces that need to be heated. Manufacturers with energy-intensive...
Here you can read the full Government plan to support businesses with the rising cost of energy. Unveiled by Business Secretary Jacob Rees-Mogg, the Energy Bill Relief Scheme will provide a discount on wholesale gas and electricity prices for all non-domestic customers (including all UK businesses, the voluntary...
Policy Update In September the UK Government announced plans to support households, businesses and the public sector organisations with the rising cost of energy bills. From 1st October, a new ‘Energy Price Guarantee’ will mean a typical UK household will now pay up to an average £2,500 a year...
Householders look set to face energy bills as high as £4,266 next year according to Cornwall Insight and reported by the BBC. This means the average household would be paying £355 a month – at the moment, the average household energy bill is £164 a month. In the report,...
The ongoing conflict in Ukraine is posing significant difficulty for Germany which is reliant on Russia for gas supply. An article published by Bloomberg stated that Germany has ‘little time to lose to avert an energy shortage this winter that would be unprecedented for a developed nation.: Although much...
Gas The month started bullishly with news that the fire damage caused at the Texas LNG Terminal was more severe than originally thought, meaning full operations may not resume until the end of the year. Additionally, threats of an impending strike from Norwegian gas workers which would reduce flows...
The coasts of Cornwall and Pembrokeshire could be used as the sites for floating windfarms after the crown estate published 5 ‘areas of search’ that will be narrowed into development plots to host wind power generation. According to a report by The Guardian: Once the project development areas have...
Global oil prices are very much in the news at present. JPMorgan Chase analysts recently warned that global oil prices could reach a “stratospheric” $380 a barrel if Russia were to retaliate against the sanctions imposed by the G7 countries by cutting its crude oil output. However, Citigroup has...
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