Category Archives: Energy industry

Make used electric cars cheaper and tackle battery fears, peers tell ministers

Posted on by

Grants needed towards buying EVs as well as a battery health testing standard to reassure consumers

Ministers need to intervene to boost the secondhand electric vehicle market and allay “uncertainty and concerns” over the health of their batteries, a House of Lords committee has said.

Peers on the environment and climate change committee urged the government to step up efforts to encourage electric vehicle adoption amid consumer jitters over the cost of vehicles, the longevity of their batteries and the availability of charging points.

Continue reading...

Legal action launched against ‘rip-off’ secret commissions on UK firms’ energy bills

Posted on by

Thousands of small businesses sue for return of brokers’ fees that often go undisclosed in billing

• Business live – latest updates

Businesses across the UK have been forced to pay an extra 10% on average for their gas and electricity because suppliers routinely add third-party broker commissions to their bills, according to a leading litigation law firm.

Thousands of small businesses have joined a group legal action, led by the law firm Harcus Parker, to claw back up to £2bn in undisclosed broker fees added to their energy bills.

Continue reading...

Saudi Arabia surprises oil markets by ditching plan to increase production

Posted on by

Blow to Joe Biden, who had hoped to benefit from lower pump prices in an election year

Saudi Arabia has cast doubt on the future of the global oil market after abandoning plans to grow its crude production capacity by 1m barrels a day.

The world’s biggest exporter signalled a big change in policy by ordering the state oil company, Saudi Aramco, to drop plans to expand its maximum production capacity to 13m barrels a day by 2027.

Continue reading...

Biden’s delay of ‘carbon bomb’ projects could be a big deal – but will it last?

Posted on by

Climate activists cheer decision to pause all pending liquified natural gas export licenses, but is it just a delay till after November elections?

Joe Biden has, at least for a while, defused a ticking carbon bomb. Climate activists and the fossil fuel industry are now left wondering how long it will last.

The decision on Friday by the Biden administration to pause all pending export licenses for liquified national gas (LNG) to consider the climate impact of the projects has been hailed as a momentous shift in the status quo by those concerned by the unfolding climate crisis.

Continue reading...

Hinkley Point C could be delayed to 2031 and cost up to £35bn, says EDF

Posted on by

As nuclear plant is hit by further delay, real cost will be far higher after inflation is included, as project uses 2015 prices

The owner of Hinkley Point C has blamed inflation, Covid and Brexit as it announced the nuclear power plant project could be delayed by a further four years, and cost £2.3bn more.

The plant in Somerset, which has been under construction since 2016, is now expected to be finished by 2031 and cost up to £35bn, France’s EDF said. However, the cost will be far higher once inflation is taken into account, because EDF is using 2015 prices.

Continue reading...

Alok Sharma condemns government’s oil and gas bill as vote passes first hurdle

Posted on by

Former Cop26 president abstains from vote saying bill breaks UK’s promise to phase out fossil fuels

Alok Sharma has said the government’s oil and gas bill going through the Commons will not cut household energy costs or create jobs and instead will break the UK’s promise to phase out fossil fuels.

The government’s offshore petroleum licensing bill passed its second reading on Monday night with 293 votes to 211 against. No Conservative MPs voted against it, and Sharma – the former business secretary who served as president of the Cop26 climate talks – abstained. The legislation would place the North Sea Transition Authority under a duty to run annual applications for new offshore oil and gas licences.

Continue reading...

Women added to Cop29 climate summit committee after backlash

Posted on by

Panel was originally composed of 28 men, a move condemned as ‘regressive’ and ‘shocking’

The president of Azerbaijan has added 12 women to the previously all-male organising committee for the Cop29 global climate summit, which the country will host in December.

The move follows a backlash after the Guardian reported the initial 28-man composition of the committee, which was called “regressive” by the She Changes Climate campaign group. “Climate change affects the whole world, not half of it,” the group said.

Continue reading...

UK government sets out plans for ‘biggest nuclear power expansion in 70 years’

Posted on by

Ministers hope to build fleet of reactors to meet quarter of electricity demand by 2050 but critics highlight long delays and rising costs

The government has set out plans for what it claims will be Britain’s biggest nuclear power expansion in 70 years, despite concerns about faltering nuclear output and project delays.

Ministers published a roadmap on Friday that recommits the government to building a fleet of nuclear reactors capable of producing 24GW by 2050 – enough to meet a quarter of the national electricity demand.

Continue reading...

EDF Energy plans to extend life of four UK nuclear power plants

Posted on by

French energy company to invest a further £1.3bn in its British nuclear fleet up to 2026

EDF is planning to extend the life of four nuclear power stations in the UK and increase investment in its British nuclear fleet.

The French energy company, which manages Britain’s eight nuclear power stations, said it would make a decision on whether to extend the life of the four plants with advanced gas-cooled reactors (AGR) – Torness, Heysham 1 and 2, and Hartlepool – by the end of the year. This would require regulatory approval.

Continue reading...

Sellafield nuclear safety and security director to leave

Posted on by

Multiple safety and cybersecurity failings at nuclear waste site were revealed by Guardian last month

The top director responsible for safety and security at Sellafield is to leave the vast nuclear waste dump in north-west England, it has emerged.

Mark Neate, the Sellafield environment, safety and security director, is to leave the organisation later this year.

Continue reading...

Labour’s energy advisers warn against watering down £28bn green investment

Posted on by

Climate thinktank says Britain could be left trailing in global race to develop low-carbon energy

Labour’s independent energy advisers have warned the party against watering down its £28bn green spending plans in advance of its promise to create a zero carbon electricity system by 2030.

Experts at the climate thinktank Ember, which provided the independent analysis underpinning Labour’s green targets, said growing international competition for low-carbon investment from the US and EU could leave the UK lagging in the global race for low-carbon energy.

Continue reading...

Oil prices rise after Iran rejects calls to end support for Houthi Red Sea attacks

Posted on by

Brent crude is up 2% to $78.77 a barrel as hopes of strong demand in China also push up prices

Oil prices have risen sharply after Iran rejected calls to end support for attacks by Houthi rebels on vessels in the Red Sea and sent a warship to the key trading route.

In the first trading session of the new year, Brent crude rose $1.73, or more than 2%, to $78.77 a barrel on Tuesday, while US West Texas Intermediate crude was at $73.36 a barrel, up $1.71, or 2.4%.

Continue reading...

Octopus Energy raises $800m and aims to create 3,000 green jobs in UK

Posted on by

Extra cash values firm at nearly $8bn, as it says it has greater share of home electricity market than British Gas

Octopus Energy has raised $800m (£630m) from its shareholders in a move that values the company at nearly $8bn, weeks after it became Britain’s biggest power supplier.

Its existing investors, which include Japan’s Tokyo Gas and Al Gore’s Generation Investment Management, have ploughed in extra cash as the value of the utility company surged by 60% since its last fundraising round two years ago.

Continue reading...

BP halts oil and gas shipments through Red Sea after rebel attacks

Posted on by

Energy company follows decisions by five big shipping firms as Houthi militants step up attacks on vessels

BP has halted all shipments of oil and gas through the Red Sea after an increase in the number of attacks on cargo ships by Houthi militants in Yemen, including a strike on a Norwegian-owned vessel.

The British oil company said on Tuesday that it had paused shipping in the region indefinitely, citing a “deteriorating security situation” amid tensions in the Middle East.

Continue reading...

EU agrees plan to enable member states to end all gas imports from Russia

Posted on by

New power to allow importers to sever ties would help to end Europe’s reliance on Russian supplies

EU countries may soon be able to halt their last remaining Russian gas imports under plans to ban Russian energy companies from their pipelines and terminals.

The European Council and parliament have agreed new rules that could empower the EU’s member states to crack down on companies from Russia and Belarus that have continued to import Russian gas into Europe since Moscow’s full-scale invasion of Ukraine by buying import capacity at key EU import terminals and pipelines.

Continue reading...

Australia news live: Daniel Andrews fires up over ‘Dictator Dan’ moniker; festival-goers warned about heatwave conditions

Posted on by

Former Victorian premier gives first interview after resignation, saying ‘the haters hate and the rest vote Labor’. Follow the day’s news live

James Ashby to stand for One Nation in Queensland seat

James Ashby, the chief of staff to One Nation leader Pauline Hanson, will stand for the party in the seat of Keppel at next year’s Queensland state election, AAP reports.

The Nationals are dead in Queensland’s parliament while the Liberals are lurching further left in their attempts to secure inner-Brisbane seats.

Continue reading...

Nuclear Leaks: what is the UK nuclear site Sellafield and why is it so important?

Posted on by

A Guardian investigation has revealed hacking, radioactive leaks and toxic workplace culture at Europe’s most hazardous nuclear site

Nuclear Leaks, a year-long Guardian investigation, has uncovered problems with cyber hacking, radioactive leaks and toxic workplace culture at Sellafield, the UK’s most hazardous nuclear site.

It has also revealed how a small corner of the UK has an outsized influence on its special relationship with the US, with the countries bound by the shared history of nuclear weapons development. Britain’s neighbours in Europe, particularly Norway and Ireland, also keep a sharp eye on the site, from where previous pollution incidents and radioactivity as a result of a fire have made it to their shores.

Continue reading...

Labour vows to ‘rewire Britain’ as pylon plans spark row in Tory party

Posted on by

Opposition vows to tackle rural connection delays to the grid while Conservatives call for offshore network to preserve landscapes

Labour is promising to “rewire Britain”, making its case to the UK’s rural communities that it will connect farmers and businesses to the National Grid at record-breaking speed.

The pledge comes as Rishi Sunak faces a battle over electricity pylons with the trade secretary, Kemi Badenoch, and former ministers urging him to pull the plug on crucial grid infrastructure.

Continue reading...

Ukraine war has marked a turning point in Europe’s gas consumption, says IEA

Posted on by

Global energy watchdog says Russia cutting supplies has prompted efficiency upgrades and move to heat pumps

The Ukraine crisis has marked a turning point for Europe’s gas consumption, which is expected to fall again this year as homes and firms embrace efficiency upgrades and heat pumps, according to the global energy watchdog.

A report from the International Energy Agency found that the continent’s developed economies reduced their gas use by 15% in 2022 after Russia cut off flows after its invasion.

Continue reading...

Revealed: Saudi Arabia’s grand plan to ‘hook’ poor countries on oil

Posted on by

Climate scientists say fossil fuel use needs to fall rapidly – but oil-rich kingdom is working to drive up demand

Saudi Arabia is driving a huge global investment plan to create demand for its oil and gas in developing countries, an undercover investigation has revealed. Critics said the plan was designed to get countries “hooked on its harmful products”.

Little was known about the oil demand sustainability programme (ODSP) but the investigation obtained detailed information on plans to drive up the use of fossil fuel-powered cars, buses and planes in Africa and elsewhere, as rich countries increasingly switch to clean energy.

Continue reading...