German Cabinet approves $1.4 billion subsidy to reduce 2025 electricity network fees
The German cabinet approved a proposal to provide a subsidy of 1.3 billion euros ($1.37 billion) for electricity network fees that consumers will pay next year. This was announced by the Economy Ministry on Tuesday. High energy prices are straining household budgets in Europe's largest economy and affecting industrial production.
Natural gas producers ask Harris for answers on the battleground state
Drillers from Pennsylvania, an energy-rich state, called on Democratic presidential nominee Kamala Harris this week to explain her stance on natural gas. The energy industry touts it as a clean fuel but climate activists claim that the fuel is a threat to global warming. In January, President…
Yellen warns that the end of US clean energy tax credit would increase consumer costs
U.S. Treasury secretary Janet Yellen will warn on Thursday that any attempt to rollback the Biden administration’s clean energy tax credit would increase costs for families and threaten new investments in U.S. Manufacturing that are creating jobs. In excerpts from remarks that she will deliver on a visit to Raleigh…
UK energy prices rise 10% due to extreme weather and geopolitics
The British energy regulator Ofgem raised the price cap for household energy bills on Friday by 10%, from October 1, to a level of 2,250.64 pounds per year. This increase was blamed on extreme weather conditions and conflicts like the war in Ukraine. Brearley stated that the increase in price cap will be difficult for many families.
Price is the Elephant in Australia's LNG, Domestic Gas Conundrum
Australia's threat to curb exports of liquefied natural gas (LNG) in order to ensure domestic supplies is another unwelcome pressure on a tight global market for the super-chilled fuel.But it's not an immediate threat, and it may also not materialize at all, depending on how the various players in Australia react to the government's planned action.What needs to b
Greek Quest to Save on Energy Bills Spurs Island-owned Renewables
Even with his 35-room beach-front hotel on the Greek island of Tilos close to fully booked, owner Michalis Kipraios worries his business might not "survive" sky-rocketing electricity bills, as the war in Ukraine drives up energy prices around the world.Tilos, 360 km (224 miles) southeast of Athens…
UK and Norway Sign Deal On New Power Interconnector
Britain and Norway on Thursday signed a bilateral treaty on electricity interconnection to help formalize power trading between the two countries, Britain's ministry for business and energy (BEIS) said.The agreement comes ahead of the start of commercial testing operations in October of the North Sea Link…
A&P Group Now Works on Renewables Only
The global ship repair, conversion and fabrication specialist A&P Group is now using 100% renewable energy across all three of its facilities as it aims to improve its green credentials and meet Government targets.The UK-based A&P Group with three shipyards located in Hebburn, Middlesbrough and…
Ofgem Rejects 600MW Shetland Cable Gig
Energy regulator Office of Gas and Electricity Markets (Ofgem) has been "unable to approve" plans for two huge subsea cables to take energy from the Scottish islands to the mainland.The transmission links from Shetland and the Western Isles were proposed by Scottish and Southern Energy Networks…
EU Lawmakers Set Energy Efficiency, Renewables Targets
European Union lawmakers on Tuesday targeted energy savings of 32.5 percent and a renewable energy uplift of 32 percent by 2030, in a push to meet the bloc's pledge under the Paris climate accord to curb global warming.National governments now have until the end of the year to draft their own…
Ontario Government Scraps Cap-and-Trade Program
The Ontario government announced it would end the province's cap-and-trade program, a policy designed to reduce greenhouse gas emissions, fulfilling one of Premier Doug Ford's election promises. The government said it would start a wind-down of all programs funded out of cap-and-trade carbon tax revenues immediately.
House Set to Debate Offshore Wind Energy Bills in US Waters
A U.S. House committee will kick off debate next week on three new bills aimed at boosting offshore wind energy leases in federal waters.The House Subcommittee on Energy and Mineral Resources will hold a hearing on Tuesday on three bipartisan offshore wind proposals.One proposal would require…
UK Conservatives Support Shale Energy
Britain's Conservative Party will introduce legislation to support shale energy development and impose a household energy tariff cap if it is re-elected in June, its election policy document showed on Thursday. The Conservative government pledged last month to cap standard variable tariffs, responding…
Oil Spill Leaves Commodities Spinning
Oil drops to near 6-month low before rebounding on OPEC cut talk. A slump in oil prices to the lowest in almost six months rattled markets on Friday, prompting a rally in safe-haven bonds, the yen and gold and taking the shine off a record-breaking week for world stocks. Bourses flinched in both…
Ofgem Winds Up Support Scheme for New Renewable Projects
Britain's energy regulator Ofgem on Friday closed one of the main support mechanisms for large-scale renewable electricity projects to new developers. Since it was set up in 2002, the Renewable Obligation scheme helped boost the share of Britain's electricity generated from low-carbon energy to 23.5 percent from 1.3 percent, Ofgem said.
British Gas, E.ON to Freeze UK Energy Prices This Winter
Centrica owned British Gas and E.ON, two of Britain's "big six" suppliers, have frozen their standard energy prices this winter, adding to pressure on rivals to do the same. British wholesale gas and electricity prices have risen about 30 and 40 percent respectively since June, along with a rebound in other commodities such as coal…
UK Rule Change for Small Power Producers Could Raise Costs, Risk Supply
Changes to Britain's local power generation rules could drive up energy bills and curb growth in new small plants just when the government is seeking to boost the country's electricity supply. Smaller power generators with less than 100 megawatt capacity embedded into local power grids have grown…
Britain's SSE to Freeze Energy Prices This Winter
SSE, one of Britain's "big six" energy suppliers, has frozen its standard energy prices this winter, it said on Friday, putting pressure on its rivals to do the same. British wholesale gas and electricity prices have risen about 30 and 40 percent respectively since June, along with a bounce-back in other commodities such as coal…
Passing Energy Bills, Ukrainian MPs Clear Path for New EU Loan
The Ukrainian parliament passed two bills on Thursday aimed at prising open the domestic energy distribution market to more competition, a reform demanded by the European Union in exchange for a 600-million-euro ($674.10 million) loan. The first bill will allow more companies to compete in the…
EU Regulators Poised to Seek Deeper Cut in Energy Use
EU regulators are poised to propose a binding target to cut energy use by 30 percent by 2030, a more ambitious goal than previously discussed, according to a draft document seen by Reuters. The draft law, which the European Commission is expected to publish next month, is part of a set of proposals to implement 2030 goals on cutting emissions…
