News
News
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UK considers removing VAT on battery storage installed after solar panels
The government has announced plans to consult on potential changes to VAT regulations for energy saving systems. The move is believed to encourage more homeowners to harness solar energy to power their households. The decision comes after the Environmental Audit Committee (EAC) recently conducted an inquiry into the possibilities of technological advancements in solar installations […]
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Ofgem plans to end temporary last resort supply payment claim process
In a bid to adapt to evolving market conditions, Ofgem is proposing to end the temporary multiple claim process for Last Resort Supply Payments (LRSPs). This move follows a period of unprecedented wholesale price increases and supplier failures, which placed significant strain on the energy market. With many energy suppliers facing financial difficulties, Ofgem had […]
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Northern Ireland-Scotland electricity link proposed
A transmission licence application has been made in Northern Ireland (NI) for a proposed new electricity interconnector, which aims to connect NI and Scotland around the end of the decade. The project, spearheaded by Transmission Investment, is set to be privately financed. The interconnector is expected to enhance access to other electricity markets, reducing the […]
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UK government backs oil boss as COP chief
Net Zero Minister Graham Stuart has defended the decision to make oil boss Sultan Al-Jaber the Chief for the upcoming COP28 climate summit. “I think he is an outstanding individual and we look forward to working with the UAE to ensure COP28 is a success and gets more countries committing to the necessary emissions reductions,” […]
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UK electricity market sets CAP below £100/MWh for first time since 2021
In a significant development for the UK electricity market, the Credit Assessment Price (CAP) has fallen below £100/MWh for the first time since 2021. Elexon, the company responsible for calculating the CAP, has made the decision to adjust it to £85/MWh, aligning it with the changing landscape of wholesale prices. The CAP serves as a […]
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Energy prices stuck in high gear for next two years, warns regulator
The head of Ofgem, Jonathan Brearley, has stated that he anticipates electricity and gas prices to remain relatively high “in the medium term.” His remarks come as consumers continue to grapple with soaring energy bills following the surge in prices that began in late 2021. When pressed for clarification on the timeframe, an official from […]
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UK’s first HVDC cable factory secures green light
The North Ayrshire Council Planning Committee has granted full planning permission to UK-based manufacturer XLCC for the establishment of their High Voltage Direct Current (HVDC) subsea cable factory in Hunterston, Scotland. This decision follows the outline planning permission that was granted last year, clearing the path for construction to commence. Scheduled to begin in early […]
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UK celebrates one year gas-free from Russia!
The government has confirmed that the UK has completed a full year without importing Russian gas. According to the latest figures released by the Department for Energy Security and Net Zero, the UK has successfully refrained from importing any Russian gas throughout the 12 months leading up to March 2023. Simultaneously, the country experienced a significant […]
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NatWest commits £1bn to boost green manufacture
NatWest has unveiled plans to provide £1 billion in lending to the UK manufacturing sector by the end of 2030. This move comes as part of the bank’s commitment to promote sustainability and assist manufacturers in adopting cleaner and more efficient forms of energy generation. The lending will be channelled through various financial instruments, including […]
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Gary Lineker says climate protestors could be “heroes”
“I think it’s very worrying that we lock people up that are actually trying to make sure that we have some kind of future. “[Climate change] should be the biggest issue of the day – and we should all be trying to turn governments on it. Not just relying on people that actually do stuff […]
Quotes
The cheapest kWh of energy is the one you don't use Delvin Lane, Head of Energy 360, British Gas