Households expected to be hit by massive bills in spring after 250% rise in gas prices since JanuaryInstant bill increases for millions of customers will be held back by maintaining the energy price cap, the business secretary has said, as he resists a…
Why California’s enormous oil spill won’t be its last
The state’s ageing oil infrastructure means more disasters are likely as companies move away from fossil fuelsA gash in an underwater pipeline sent tens of thousands of gallons of oil rushing into the waters near Los Angeles last weekend, blackening be…
UK faces ‘grim winter’ with households already paying £442 extra in bills
Analysts warn cost of living crisis is gathering pace amid fast rises in petrol, food and energy billsWatch out for hidden ‘shrinkflation’ price hikes, analysts warnRising inflation ‘could trigger global sell-off that would harm UK’Households face a “p…
Omni Energy switched unprofitable customers without express consent
Firm is struggling financially with record high gas prices and removed customers who used the most energyA struggling household energy supplier switched thousands of unprofitable customers to rival companies without their express consent, in an apparen…
National Grid in talks over plan for energy island in North Sea
UK firm says windfarm project that could help power British homes could be completed by 2030The prospect of an energy island in the North Sea surrounded by windfarms with the ability to power British homes has taken a step closer after National Grid, t…
China orders coalmines to raise production to address power crunch
Record high prices and shortages of electricity have crippled industrial outputChinese officials have ordered more than 70 mines in Inner Mongolia to increase coal production by almost 100m tonnes, with the country battling its worst power crunch and c…
Russia pushes for Nord Stream 2 certification amid energy crisis; UK house prices soar – business live
Rolling coverage of the latest economic and financial newsIntroduction: Russia says Nord Stream 2 clearance may cool gas prices in EuropePutin offered to stabilise energy crisis on WednesdayHalifax: House prices jumped 1.7% in SeptemberBiggest monthly …
Omni Energy predicts it will be 13th UK provider to go bust
Firm tells customers it will switch them to another supplier unless they objectThe UK household electricity company Omni Energy has said it expects to become the 13th energy supplier to go bust this year, unless the gas price crisis eases before winter…
UK petrol prices are closing in on all-time high, warns RAC
Cost per litre nears the record 142.48 set in April 2012, stoked by global demand outpacing supply rather than UK fuel shortagePetrol prices could reach all-time highs before Christmas, the RAC warned, signalling “misery” for motorists still reeling fr…