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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 […]

One Coal Train Standing Still While A Freight Train Rolls By

“The world is burning more coal than ever” says IEA

“The world is burning more coal than ever” the International Energy Agency (IEA) has said as it releases its Medium-Term Coal Market Report today. The data shows that, despite a brief dip, coal remains the second-largest primary energy source with demand set to continue to rise by 2021. This is […]

The cost of the Climate Change Act

The cost of the Climate Change Act

A new report has revealed the cost to taxpayers of the Climate Change Act will reach £300 billion by 2030.  The report by Peter Lilley MP, as reported in the Times, finds that there “is at best economic illiteracy and at worst deliberate deception” by government when it comes to […]

epa05523450 Russian President Vladimir Putin (L) meets with Saudi Arabia's Deputy Crown Prince Mohammed bin Salman (R) during the G20 Summit in Hangzhou, China, 04 September 2016. The G20 Summit is held in Hangzhou on 04 to 05 September.  EPA/YURI KOCHETKOV

Saudi-Russian crude oil supply pact boosts Brent in Asia

The first global crude supply pact for 15 years saw the price of Brent crude oil surge to a year-high when Asian markets opened on Monday. Brent crude was up 6.5 per cent to above $57.89 a barrel within minutes of Asian markets opening, following an agreement between Opec and […]

Mongolia seeks to capitalise on coal price surge

Mongolia seeks to capitalise on coal price surge

Mongolia has been encouraged by the rally in commodity prices that has seen gains of more than 200 per cent for coking coal, as the government seeks to tackle the country’s foreign debt of over $20 billion. Tumentsogt Tsevegmid, CEO of Erdenes Mongol, set up to manage the state’s mineral […]

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 […]

Prime Minister of India Narendra Modi waves following a joint statement to the press with Mexican President Enrique Pena Nieto, in Los Pinos presidential residence in Mexico City, Wednesday, June 8, 2016. Modi met with the Mexican President Wednesday evening during a short working visit to the country.(AP Photo/Rebecca Blackwell)

Modi affirms India’s commitment to fossil fuels and growth

India’s Prime Minister, Nahendra Modi, has said that traditional fuels will underpin development in India, with future growth resting on the four pillars of energy access, efficiency, sustainability and security. He added that “hydrocarbons in particular is an important part of my vision for India’s future”. India will account for […]

World Bank cancels gas project in Pakistan

World Bank cancels gas project in Pakistan

The World Bank has announced it has cancelled a $100 million loan for a gas distribution project in Pakistan due to lack of progress and interest from industry. The project would have developed new or upgraded existing gas distribution infrastructure to deal with the high levels of unaccounted for gas […]