Cost of Energy

Energy companies on cyber-attack alert

Energy companies on cyber-attack alert

Britain’s main energy sector executives were warned last month to increase their inspections of blackouts throughout the country, as significant periods of disruptions could be a signal of a cyber attack. Although infrastructure companies are on constant alert for such attacks, fears have been raised over Russia’s ability to disrupt […]

UK price cap will be forced up by green policies

UK price cap will be forced up by green policies

Leading analysts have said household electricity bills could rise by a third, £200, by 2025 as a result of rising wholesale prices and green subsidies. Research by Aurora Research suggests upward pressure, caused by underlying costs, could cause government to increase its energy price cap multiple times, despite ministers condemning […]

EDF to increase energy bills

EDF to increase energy bills

EDF Energy has become the second Big Six energy supplier to increase its standard variable tariff (SVT), which the French company said will affect 1.3 million customers. The 1.4% increase will the average bill will go up to £1,158 a year, which EDF said reflects the increase in some of […]

Top UK banker warns of the risks of rapidly shifting away from fossil fuels

Top UK banker warns of the risks of rapidly shifting away from fossil fuels

Mark Carney, head of the Bank of England, has said a move to a low carbon economy, that is too quick, could damage the financial stability of the UK. According to Carney, a sudden redirection of funding away from the oil and gas sector, coastal real estate, amongst others could […]

British Gas to increase energy bills due to cost of renewables

British Gas to increase energy bills due to cost of renewables

British Gas, a subsidiary of Centrica, has announced it will increase its Standard Variable Tariff (SVT) by £60 to £1,161 on 29th May – an average rise of 5.5% for its typical dual fuel customer. The price hike is largely a result of rising wholesale and policy costs, which have […]

Shell could take on the Big Six

Shell could take on the Big Six

Energy giant Shell could start competing with the Big Six domestic energy suppliers following the acquisition of First Utility last month in a deal said to be worth £200 million. Shell has said that using its own brand for its new domestic energy venture was one option currently being assessed. […]

UK fuel deficit increases to £5.4bn following Forties leak

UK fuel deficit increases to £5.4bn following Forties leak

The UK’s fuel trade deficit increased dramatically in the three months up to January, when a major pipeline system was shut down in order to undergo emergency repairs. The fuel deficit expanded from £3.1 billion to £5.4 billion in the last quarter of 2017, according to data released by the […]

Eon renewable venture to include 5,000 job losses

Eon renewable venture to include 5,000 job losses

Eon has warned that up to 5,000 jobs will be lost following its merger with renewables company Innogy, across the combined group. The job cuts, that will see Eon cut 7% of the group’s staff, are part of the company’s ambition to save €600 million to €800 million per year […]