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Domestic energy debt in Great Britain could reach £7bn by year-end as winter price increases take effect, with households facing higher gas and electricity bills despite government tax relief measures.
A small UK gas power plant was shut down for four days in an Iran-linked cyber-attack last month, raising concerns about vulnerabilities in hundreds of smaller generators not required to meet baseline security standards until 2030.
European gas storage levels have fallen to their lowest point in 13 years, reaching only 63% capacity in late August and triggering concerns about winter price volatility and potential supply pressures.
BP appoints Ian Tyler as permanent chair after months-long search following the controversial removal of his predecessor Albert Manifold earlier this year.
The UK’s public spending watchdog warns that electricity grid upgrades must accelerate or consumer bills could rise by £7.8bn annually by 2030 due to increased constraint costs.
The North Sea oil and gas industry is urging the UK government to scrap the windfall tax on fossil fuel companies three years early, replacing it with a narrower levy tied to price spikes.
