Cost of Energy

Ofgem warns electricity prices could rise 15%

Ofgem warns electricity prices could rise 15%

The head of the UK’s energy regulator, Ofgem has estimated that electricity costs soared by 15 per cent in 2016 due to wholesale costs and the UK Government’s renewable energy policies. Chief Executive Dermot Nolan warned major energy companies not to hike prices for consumers due to renewables targets. He […]

Bulgarian gas customers face higher bills in 2017

Bulgarian gas customers face higher bills in 2017

Households and businesses in Bulgaria face increased energy costs in 2017 after gas company Bulgargaz submitted proposals for a 13.53 per cent wholesale price rise to the country’s energy regulator. State-owned Bulgargaz, the largest gas distribution company in Bulgaria, is responding to expectations of a rise in international gas prices. It […]

NEW YORK - APRIL 27: Financial professionals sit in the Goldman Sachs booth on the floor of the New York Stock Exchange watch a television showing market news April 27, 2010 in New York City. U.S. stocks dropped sharply April 27 after Standard & Poor's downgraded the debt of Greece and Portugal, sending the Dow Jones industrial average down more than 200 points.  (Photo by Chris Hondros/Getty Images)

Energy steps ahead of other commodities in 2016

Energy was the top pick in 2016 according to the S&P Goldman Sachs Commodity Index, with energy commodity prices rising more than any other major commodity group last year. The S&P GSCI shows that the price of energy stocks shot up by 48% over the course of 2016. This growth […]

French energy giant set to expand UK operations

French energy giant set to expand UK operations

French energy company Engie has announced plans to grow its UK business by merging its offerings of energy management and supply, and conventional support services, to councils, museums and corporate offices. The company, formerly known as GDF Suez, is one of the UK’s biggest business energy firms, supplying power to […]

British manufacturers fear impact of rising energy costs

British manufacturers fear impact of rising energy costs

Energy costs are having the biggest impact on businesses, new research has shown. In the survey of UK manufacturers by npower Business Solutions (nBS), 62 per cent of businesses said they had been most affected by energy costs in 2016 and 57 per cent said that decreasing energy costs should […]

Deutsche Bank expert blames renewables for impending rise in UK energy costs

Deutsche Bank expert blames renewables for impending rise in UK energy costs

A leading financial expert for Deutsche Bank has warned that the cost of energy in the UK will rise next year because of renewables and upgrades to the network. Deutsche Bank’s Martin Brough said “we expect the UK energy retail market to face upward pricing pressure in 2017 from costs […]

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Ofgem executive warns UK could face two-tier energy market

An executive with energy watchdog Ofgem has confirmed that Britain’s reliance on ‘intermittent’ renewable energy has left the country facing a supply crisis. Senior Ofgem partner Andrew Wright has warned of a future where wealthy customers will be able to pay more for a ‘higher level of reliability’ while their […]

UK sticks with coal to keep the lights on and consumer prices low

UK sticks with coal to keep the lights on and consumer prices low

Coal-fuelled power stations will continue to ensure Britain meets its energy demands and keeps prices low for consumers as it won out over gas in the latest energy auctions.  A total of £1.2 billion in subsidy contracts was awarded by the Government on Friday in an effort to ensure Britain […]