Researchers from the University of Glasgow have developed a new type of flexible heat pump technology, which could help households and businesses save on their energy bills and contribute towards Net Zero emissions goals. Heat pumps are a low-carbon alternative to gas boilers. They draw energy from external low-temperature sources, most commonly outdoor air, in […]
The UK’s offshore energy producers are to invest £200-£250 billion to provide the nation with secure and increasingly low carbon energy, according to research by Offshore Energies UK. It has assessed the spending plans of offshore energy companies operating in the North Sea and other UK waters, looking at their investment plans between now and […]
The government’s Energy Security Bill, announced as part of the Queen’s Speech, has been introduced into Parliament. The Bill includes new measures which aim to help the UK transition to a cleaner, more affordable, homegrown energy system. The government says the Bill will drive £100 billion of private sector investment by 2030 into new British industries […]
Energy regulator Ofgem has announced new measures to prevent energy supplier collapses and to better protect consumers’ money if they do fail. The plans aim to improve the financial health of energy suppliers meaning they can stand up to future shocks in the energy market, especially over the autumn and winter. What are the proposed […]
Almost a quarter of UK business leaders (23%) fear their company will not survive the financial year due to the current cost of living crisis, new research has revealed. Around one in ten (9%) said that if the situation doesn’t change, they’d expect to go out of business in the next five years. The figures […]
The energy price cap, which limits how much energy providers can increase their prices by, is set to rise by a further £800 in October, Ofgem has confirmed. Ofgem’s chief executive, Jonathan Brearley, said the cap is expected to increase to £2,800 a year, due to continued volatility in gas prices. This means that the typical […]
Ofgem has published a new consultation to look at whether the energy price cap should be updated quarterly rather than every six months. Ofgem says a more frequent price cap would reflect the most up to date and accurate energy prices and mean that when prices fall from the current record highs, customers would see […]
The 2022 Queen’s Speech, delivered by Prince Charles for the first time, revealed a new Energy Bill aimed at boosting energy security and renewable energy. In the speech, Prince Charles said: “My Ministers will bring forward an Energy Bill to deliver the transition to cheaper, cleaner, and more secure energy. This will build on the success […]
More commercial energy providers exit the market as costs continue to rise. Scottish Power has announced that it is exiting the UK industrial and commercial energy markets. Owned by Spanish energy firm Iberdrola, they announced last month that they will stop selling energy to British industrial and commercial (I&C) customers. Why has Scottish Power stopped […]
Earlier this month, the Government published its long-awaited Energy Security Strategy in response to the ongoing energy crisis. The plan sets out how Great Britain will accelerate the deployment of wind, new nuclear, solar and hydrogen, whilst supporting the production of domestic oil and gas in the nearer term – which could see 95% of electricity by 2030 […]