Read our top five energy-related news stories from the last couple of weeks. Energy is always in the news in one way or another, from renewable energy technology advancements and the latest from the ‘big six’ energy suppliers to advancements in energy saving and sustainability. In this blog, we share more about our favourite energy news stories from the last couple of weeks:
- Gazprom's UK supply arm faces special administration within days as customers turn their backs: The UK supply arm of Russia's state-owned gas firm Gazprom is expected to be placed under taxpayer control within days as customers attempt to flee the firm in retaliation for the invasion of Ukraine. Read more here
- Spring statement 2022: Key climate and energy announcement: The chancellor had reportedly wanted to restrict this “spring statement” to economic forecasts and broad ideas for tax changes, leaving major announcements for the autumn budget. However, the Treasury has been under growing pressure to deal with the fallout from Russia’s invasion of Ukraine and the wider global energy crisis. Read more here
- UK's offshore wind pipeline surpasses 86GW: Plans are in the pipeline to increase the UK's current offshore wind generation capacity more than eight times over. The UK figures reveal that there are now projects totalling more than 75.5GW of capacity in the pipeline – a figure that dwarfs the 10.46GW of capacity that is already fully commissioned and the additional 3.2GW in partial operation. The total pipeline is now more than 86GW – around 33GW higher than it was 12 months ago. Read more here
- Liquidity help urgently needed to ride out Europe’s energy crisis, say traders: An emergency life-raft of time-limited liquidity support is needed if Europe’s wholesale energy markets are to survive the price rollercoaster caused by the globe’s enduring crisis of supply, a trade body for trading has said. Read more here
- Britain revisits huge tidal energy plan as Ukraine crisis continues: An independent commission in the U.K. is to revisit the possibility of using the Severn Estuary, a large body of water between England and Wales, to harness tidal energy. Read more here
Find out how we can help you with all your energy needs by giving the team a call on 024 7669 6512.