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Germany to examine Nord Stream gas turbine

Germany to examine Nord Stream gas turbine: The German Chancellor, Olaf Scholz, intends to stop in at the facility where the Nord Stream 1 gas turbine is stored following maintenance. The turbine has been the focus of a dispute between Russia and Europe regarding the announced indications of its arrival during Gazprom’s allegations in respect…
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No plans to prolong windfall tax to generators before Borexit

No plans to prolong windfall tax to generators before Borexit The government has not got any plans to prolong the windfall tax on electricity generators before Boris Johnson vacates the office of Prime Minister. The Prime Minister’s spokesman stated to reporters that the choice not to increase the tax is in line with government policy…
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North Sea projects scrapped?

North Sea projects scrapped? The fufillment of a windfall tax on oil and gas firms’ profits has reportedly made some reexamine their new fossil fuel projects in the North Sea. The Telegraph has announced that the Norwegian energy company Equinor is reviewing its plan to drill for oil and gas in the North Sea, in…
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Businesses need support with new energy bill package

Businesses need support with new energy bill package Businesses in the UK have asked the government to step in and safegaurd them against unstable energy costs. Data from Make UK, which represents the country’s manufacturing sector, shows that more than two-thirds of firms claim that soaring energy bills are causing ‘catastrophic’ or ‘major’ problems to…
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UK fuel prices at all time high

UK fuel prices at all time high A family needs to pay £95.15 for petrol and £100.42 for diesel to fill up a 55-litre car. Fuel costs in petrol stations across the UK continue to skyrocket amid the volatile energy landscape and the war in Ukraine. RAC fuel spokesperson Simon Williams stated: “The price of…
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North sea oil and gas threatened by Windfall tax

North sea oil and gas threatened by Windfall tax The implementation of the new windfall tax creates uncertainty over future investment, Shell has stated. In its recent set of cost-of-living measures, the government included a windfall tax on energy firms that could possible increment around £5 billion. Energy companies will have to pay an extra…
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Struggling households get extra support by next year

Struggling households get extra support by next year The government has been advised calls for added measures to help struggling customers against soaring energy bills are likely to continue next year. The London-based Institute for Fiscal Studies (IFS) think tank has stated that ministers may come under strain again. Last Thursday, the Chancellor issued a…
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Boris hails support packages for rising energy bills

Boris hails support packages for rising energy bills Boris Johnson has approved the government’s new energy bill support package as “a big bazooka”. Speaking during a visit at Stockton-on-Tees, the Prime Minister stated: “I am not going to pretend that this is going to fix everything for everybody immediately and there are still going to…
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Govt to explore windfall tax if little investment is made

Govt to explore windfall tax if little investment is made: The Prime Minister has not taken the idea off the table of bringing in a windfall tax on the profits of oil & gas companies. On LBC radio, in an interview, Boris Johnson stated: “The disadvantage with this sort of taxes is that they deter…
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Kwasi Kwarteng pushes energy bosses to reinvest profits

Kwasi Kwarteng pushes energy bosses to reinvest profits: The Business Secretary has written to the oil and gas industry requesting it to design a plan to help ease the rising cost of living by reinvesting its profits. The government intends to initiate a further North Sea licensing round in the autumn, considering the climate compatibility…
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