gas prices

March 2, 2022

Energy costs extremely volatile as impact of Russian invasion of Ukraine reverberate through market, says Cornwall Insight

The cost of energy is extremely volatile currently due to Russia invading Ukraine, said Cornwall Insight.

Centrica's profit hit £3.308 billion due to gas and nuclear. Image: Centrica.

February 25, 2022

Centrica’s profit soars 112% amid high oil and gas prices

Centrica’s adjusted profit has soared by 112%, jumping from £447 million to £948 million following the surge in oil and gas prices.

The Vulnerability Commitment’s signatories include Octopus Energy

February 24, 2022

How is the energy crisis impacting the Capacity Market, and vice versa?

The energy crisis in the UK is contributing to record clearing prices in the Capacity Market (CM), with the mechanism’s design in turn exacerbating tight capacity margins, EnAppSys director Paul Verrill has said.

February 21, 2022

EDF UK reports significant losses due to high global gas prices

EDF UK has reported significant losses for 2021 due to the ongoing impact of COVID-19 and high global gas prices.

The oil and gas major saw its profits surge in Q4 of 2021 due to high commodity prices. Image: Kent Smith/Shell.

February 3, 2022

Labour calls for O&G windfall tax as Shell sees earnings jump 298% during ‘momentous’ 2021

The Labour Party has once again called for a windfall tax on north sea oil and gas producers as Shell releases financial results for “momentous” 2021.

National Grid ESO to reintroduce the demand flexibility service this winter. Image: Getty Images.

February 3, 2022

Energy price cap raised by 54% as Treasury unveils suite of bill protections

As predicted, regulator Ofgem has raised the default tariff price cap by 54% hitting £1,971.

February 2, 2022

Energy price volatility to last until 2030 at least, warns Cornwall Insight

Volatility in the wholesale energy market is likely to last until at least 2030 unless significant changes are made to long-term energy strategies, according to Cornwall Insight.

January 28, 2022

BEIS cites need to strengthen energy security as it commits £100m to Sizewell C

The government is to provide £100 million of funding to EDF’s 3.2GW Sizewell C nuclear plant in Suffolk.

January 18, 2022

Long-term sustainability of the energy system at risk as government eyes short-term fixes, says Cornwall Insight

The long-term sustainability of the energy sector is at risk from the short-term measures being considered as a solution to the energy crisis.

January 13, 2022

OVO Energy reportedly to cut 1,700 jobs

OVO Energy is reportedly to cut a quarter of its 6,200-strong workforce amid the continued volatility in the energy supply market.

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