Domestic Energy News

extra-energy1

  According to the Big Deal, independent energy supplier Extraenergy is set to gain 30,000 new customers after submitting the winning tariff to a collective switching scheme. The supplier, which only launched in March in the UK domestic market, offered customers who signed up to the collective switching scheme a 12 month fixed deal for […]

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shale-gas-1024x766

  According to BusinessGreen, George Osborne believes shale gas production could create wealth funds for north of England. A plan to generate new shale gas tax revenue could be deployed as a UK sovereign wealth fund. Ed Davey, energy and climate change secretary, said that the fund could be set-up once commercial production Starts. He […]

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power-station

Energy users will be required to pay £1bn in 2018 to keep power stations open. The National Grid did a capacity auction which ended at a price of £19.40 per KW – the agreed level of subsidy. EDF is one of the major expected winners but other firms which form the “Big Six” are also […]

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wave-energy

According to a report by the Offshore Renewable Energy Catapult (ORE), uncertainty over funding for wave power has led to many investors pulling out. “The market is strategically important to the UK but it’s on the brink of foundering. It is crucial that action is taken to bolster the prospects of the industry”. ORE suggests […]

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electricity

In a subsidy auction some energy companies won subsidies of £15-£20 per KW, meaning an extra cost to the consumers of at least £750m per year. The Department of Energy and Climate Change commented, “This will encourage the investment we need to replace the older power stations and provide backup for more intermittent and inflexible […]

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oil-and-gas-energy-firms

The drastic drop in the price of oil has led to a 3 fold rise in the number of insolvencies amongst UK oil and gas service companies. Generally, Brent Crude is trading at a five and half year low due to fears over demand and over supply. OPEC, which provides 40% of the world’s supply […]

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