CO2 emissions fell by 8.6% last year. The Committee on Climate Change (CCC) has said that the economic downturn is responsible for the 8.6% drop in CO2 emissions experienced last year. Major changes have been called for by The Committee on Climate Change in an annual review presented to the government. The CCC’s annual report follows a year which has … Read More
Ofgem warns suppliers over prices
Industry regulator has again inquired into why suppliers continue to increase energy bills despite falling wholesale energy costs. Ofgem has announced concerns that energy suppliers are making too much money from their customers, with reports suggesting that they are making £85 profit per customer. This is the highest profit level the energy suppliers have made in 5 years, according to … Read More
Britain’s new nuclear plan given go ahead
10 new nuclear power plants are to be built, aiming for 25% nuclear energy by 2025. Energy and Climate Change Secretary Ed Miliband announced this week that new nuclear plants, combined with renewable energy and cleaner coal plants, can secure the country’s energy supply and cut its carbon and greenhouse gas emissions. With nuclear power currently providing around 15% of … Read More
Fear of steep energy price rises in future
Ofgem review of energy market predicts future prices are going only one way. The report, named ‘Project Discovery’, reviews a series of possible energy climate scenarios that the world could experience, and all four of the scenarios see a rise in price over the 10 years. The report claims that £200bn of investment is needed in the UK’s energy market … Read More
Suppliers say no cuts to bills, despite increase in profits
The big six energy suppliers in Britain have warned customers not to expect price cuts, despite their profits increasing. The big six have told Ofgem that customers are unlikely to see a cut in their bills in the coming year. They were responding to a request from Ofgem, the industry regulator, to pass on savings from the drop in price … Read More
European Commission deems electricity prices too high
The European Commission is to carry out an investigation into electricity prices. This comes following suspicions of excessive pricing due to wholesale price cuts not being passed on to consumers. With 60 percent of consumers across the EU last year reporting a rise in their electricity bills, the fact that the wholesale price of electricity has come down by 35 … Read More
Price rises feared as Europe waits for Russia to turn gas back on
Eastern European energy conflict continues despite EU agreements. The ongoing Russia-Ukraine conflict, leads to concerns that UK prices won’t come down as promised. Russian energy giant Gazprom has stated that despite the EU deal signed by both Russia and Ukraine, it will not resume gas supplies to Europe until they receive a copy of the agreement. This is just the … Read More
UK energy prices rising more than twice as fast as Europe
UK gas and electricity prices up by 29.7 per cent in the past year, compared to the 14 per cent European average. Norway is the only European nation that faced higher price rises in the last year, the Organisation for Economic Cooperation and Development (OECD) revealed. The UK Energy market is under scrutiny this week after the OECD report revealed … Read More
Winter supply concerns lead to new energy price hike fears
Experts have warned of possible sharp energy price rises as waning reserves lead to growing supply worries. The National Grid has warned that Britain could face more price rises amid concerns that a supply squeeze is on the way. The power grid operator said in an annual report for large energy users planning for winter, that due to the loss … Read More
Electricity and gas prices unlikely to fall this winter
Industry experts have warned that energy bills are not likely to drop this winter, despite the record-breaking price rises seen so far this year. Prices have been forced up by higher wholesale costs due to the rising price of oil along with the depletion of north sea gas. This means we are increasingly reliant on imported gas from Europe. Cassim … Read More