Wales

The energy crisis could expose energy suppliers to around £1.9 billion of debt, much of which would be unrecoverable, according to a new report ​from Cornwall Insight and Complete Strategy.

Octopus Energy has signed a power purchase agreement (PPA) with Shell to receive green energy from the “world’s largest offshore wind farm”, it said.

Ofgem has unveiled 26 strategic electricity transmission reinforcements in a bid to unlock wind deployments by 2030.

Regen, on behalf of six trade bodies, has called on the Department for Business, Energy and Industrial Strategy (BEIS) Secretary Grant Shapps to address network constraints with many facing connectivity delays of up to 15 years.

The UK government has allocated a total of £102 million to support both nuclear and hydrogen innovation in a bid to reduce the UK’s carbon footprint.

The Welsh Government will provide all businesses in Wales with a new rates support worth more than £460 million over the next two financial years.

As the UK’s renewable economy continues to grow, consultancy firm PwC stated that green jobs are currently growing at four times the rate of the overall UK employment market.

Octopus Energy customers moved almost 450MWh of energy consumption across four demand flexibility periods with over £1 million saved collectively.

The Confederation of British Industry (CBI) has urged the government to extend the Energy Bill Relief Scheme beyond March 2023 for high energy users to prevent plunging British industry into disarray.