News
News
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UK urged to launch ‘Dragons’ Den’ green fund to compete in net zero race
The UK faces the risk of falling behind global counterparts such as the US and the EU in the race towards achieving a net zero economy, according to a recent report by the Institute for Public Policy Research (IPPR). The think tank has recommended that the UK Government increase its green investments by considering an […]
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NatWest launches free green construction skills programme
NatWest has collaborated with the Supply Chain Sustainability School to offer a complimentary retrofit learning programme for the construction sector. The initiative aims to enhance the industry’s ability and capacity to expedite the energy-efficient retrofitting of UK buildings. With buildings accounting for 40% of the UK’s carbon emissions and 80% of the structures projected to […]
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Nearly 1.5m OVO customers to be paid to slash energy usage
OVO has unveiled its latest initiative called Power Move, aiming to incentivise customers to shift their electricity consumption away from peak hours (4-7pm) to times when the grid is more environmentally friendly. With the potential to collectively earn £15 million per month, over 1.5 million OVO customers can participate in the scheme. The reward entails […]
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US Chamber of Commerce: Ofgem’s role needs clarity and flexibility
Amid the review of the UK’s Energy Policy Strategy, attention is directed towards Ofgem, tasked with guiding the transition towards cleaner energy sources and innovative technologies. In a formal response to a consultation, the US Chamber of Commerce, representing a diverse array of businesses, has raised important points regarding Ofgem’s role in the government’s energy […]
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‘UK seeks financial backing from banks for North Sea oil projects’
The government has reportedly reached out to major financial institutions, including Barclays, Lloyds, NatWest and investment firms like Fidelity and Abrdn, seeking support to revive investments in North Sea oil and gas projects. This comes amid challenges faced by the region due to the impact of the government’s windfall tax. According to reports, Treasury officials […]
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Heat pump to slash Lloyds Banking Group’s carbon emissions
Facilities management company Mitie has partnered with Lloyds Banking Group to initiate a project aimed at curbing carbon dioxide emissions. The endeavour involves the implementation of a ground source heat pump at Lloyds’ Trinity Road office in Halifax. The newly installed ground source heat pump system is projected to have a substantial impact on carbon […]
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‘UK’s inefficient homes face £700 extra energy costs as gas prices soar’
A fresh study reveals a potential financial burden on homes rated Energy Performance Certificate (EPC) band F. As the new price cap takes effect, these households could see their bills surge by a substantial £685 in comparison to those in EPC band C homes. The Energy and Climate Intelligence Unit (ECIU) spearheaded the analysis, delving […]
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EU surpasses 90% gas storage target ahead of winter
The European Union (EU) has surpassed its gas storage target, achieving a 90.12% capacity well ahead of the scheduled deadline of 1st November. That’s according to Gas Infrastructure Europe, which stresses that this level equates to more than 93 billion cubic metres of natural gas. Gas storage plays a pivotal role in ensuring energy security, […]
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New UK guidelines for planning battery energy storage
The Department for Levelling Up, Housing and Communities (DLUHC) has unveiled fresh guidance concerning battery energy storage systems. These guidelines focus on refining planning considerations for renewable energy solutions. One important focus of these guidelines is making sure larger energy storage systems don’t cause fires. They are especially aimed at helping local councils figure out […]
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UK homes expected to save £251 with new energy price cap
UK households are preparing for a minor decrease in their energy bills, but energy costs are projected to remain significantly higher than pre-crisis levels. Consultancy Cornwall Insight forecasts the fourth quarter price cap for a typical dual-fuel household to be £1,823 using the new lower Typical Domestic Consumption Values (TDCVs), representing a quarter-on-quarter reduction of […]
Quotes
The cheapest kWh of energy is the one you don't use Delvin Lane, Head of Energy 360, British Gas