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Russia has made deeper supply cuts

Russia has made deeper supply cuts

Gas prices jumped massively on the 27th of July as Russia further reduced supplies to the EU by a further 20%. This led prices to surge across the continent by around 30% as they are now only seeing 20% of their usual capacity from the Nord Stream 1 pipeline. In June Russia initially cut supplies to 40% capacity before making further cuts this month. The cut was initially due to maintenance issues...

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The US has become the world’s largest LNG exporter

The US has become the world’s largest LNG exporter

The US has become the world’s largest LNG exporter in 2022. According to research LNG exports have increased by 12% between January and June compared to levels in 2021. The average amount of gas being exported each day has reached 11.2 billion cubic feet. The rise in LNG being exported from the US has mostly come from increased global demand for LNG and a price rise in global markets. Particularly...

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Natural gas storage facility set to reopen in UK

Natural gas storage facility set to reopen in UK

The UK government has given the go-ahead for the reopening of the biggest natural gas storage facility that the country has. Centrica, British gas owners applied to reopen the facility. The north sea energy regulator has given this licence allowing the supplier to move forward to get all the permissions they need to restart operations. This facility was innately closed by Centrica back...

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Energy company to invest in more UK green jobs.

Energy company to invest in more UK green jobs.

Scottish Power has recently won a series of contracts to build wind turbines, including offshore and onshore wind and solar farms. This has led to many jobs becoming available in the company, they stated they expect to recruit 1000 new employees over the next 12 months. The Jobs will be available across Scotland and England. As well as hiring new staff the company will also need to invest more...

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UK energy bills Soar as Russia cuts gas supplies

UK energy bills Soar as Russia cuts gas supplies

Due to Russia cutting gas through the Nord Stream 1 pipeline, the UK's energy market spiked causing wholesale gas for delivery for the winter to rise to 535p per therm. Although the Kremlin blamed issues with turbines, others have urged that this is Russia’s retaliation due to sanctions imposed by the west. British households have been told to prepare for higher price rises because...

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Ofgem suggests reforms to cut fossil fuel reliance

Ofgem suggests reforms to cut fossil fuel reliance

The energy regulator Ofgem has proposed reforms to the UK’s energy market to reduce our reliance on energy imports from other countries. The lack of gas and oil security in the country is one of the main reasons the UK suffers such high domestic energy prices. This October energy prices for British consumers are expected to rise to an average of £3,244 per year as Ofgem is going...

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