The UK government will fix the energy retail price cap at £2,500/yr ($2,870/yr) for a 'typical' home for two years and will seek to accelerate domestic supply by launching a new North Sea oil and gas licensing round and lifting a moratorium on hydraulic fracturing (fracking), prime minister Liz Truss said today.
read more... 09/09/2022
Finnish power grid operator Fingrid started up two backup power plants on Thursday to balance the country's electricity system and prevent blackouts while repairs were made at a reactor seen as crucial to ensure reliable power supplies this winter.
read more... 09/09/2022
Germany plans to subsidise a basic level of electricity usage for households and set aside cheaper power for small and medium-sized businesses, according to measures set out in an Economy Ministry paper seen by Reuters on Thursday.
read more... 09/09/2022
The price of crude oil decreased to a 7-month low on Wednesday, influenced by forecasts of weakening demand and flagging global growth. As such, Brent crude settled 5.2% lower at $88 a barrel. WTI crude fell by 5.7% to $81.94.
read more... 08/09/2022
New British Prime Minister Liz Truss will cap soaring consumer power bills on Thursday and promote new sources of energy in an expected 100 billion pound ($115 billion)-plus package designed to limit the economic shock caused by the war in Ukraine.
read more... 08/09/2022