Business energy

Gas discovery made in the North Sea

A gas discovery has been made in the North Sea in one of its most mature regions, by Norwegian oil and gas firm Statoil and its partner Total E&P Norge. This comes on the same day that the UK authorities have granted 41 offshore exploration licences in a round of awards.

Critics have pointed out that the award to drill does not mean that the company’s will actually drill, however the opposing side state that the fact there is huge demand for the licences shows that the UK’s North Sea oil and gas industry are still attractive.

Solar and biomass subsidies to be slashed

The Government has set out its plans to reduce business energy costs and residential energy costs. The plans centre around the scrapping of subsidies for solar and biomass generation, which has been highly criticised by environmental groups that claim it is a massive step backwards for the UK’s renewable energy industry.

National Grid puts supply security as top priority

The National Grid has taken steps towards securing Great Britain’s electricity supplies for this coming winter. The National Grid is the system operator which connects power plants to major substations and is responsible for ensuring that the electricity generated in Great Britain can be spread efficiently throughout England, Scotland and Wales.

Conservatives to cut green energy subsidies

It is expected that todays budget will announce huge cuts to green energy subsidies after key Conservatives called them ‘out of control’. The Department of Energy and Climate Change was ran by the Lib Dems over the past 5 years during the coalition government, which is what the out of control spending has been blamed on.

Plans for the UK’s Green Investment Bank to be privatised

Plans for the UK’s Green Investment Bank to be privatised have been slammed by a number of pro green Conservatives, who feel it would be a step in the wrong direction for the conservatives green policies. The Green Investment bank was set up by the coalition government as an organisation which invested public money into renewable energy projects. It was viewed by many as a huge success, and one of the only green energy policies that actually worked under the coalition government.

Could your business save money by adopting green vehicles?

A recent report has found that switching to more efficient vehicles could save businesses up to £20 billion throughout the EU. The findings of the report outlined the importance of driving economically, with road traffic accounting for a quarter of all greenhouse gas emissions. A change in road habits to a more economic way of driving could save businesses money on fuel costs.

Gas and electricity prices fall after strong supply

During May the price of gas and electricity fell despite oil and coal rising. Day-ahead electricity contracts were down from an average of £43.9/MWh in April to £41.9/MWh in May due to an increase in supply and a lower demand than usual. A healthy supply also pushed gas prices down with day-ahead prices falling by 5.6% from April to average 44.2p/th.

Ikea hits target to use 100% renewable energy

Ikea has announced that it has hit its target to use 100% renewable energy across all of their Nordic operations by 2015, and remain on course to produce as much renewable energy as they use worldwide by 2020.

9 in 10 small companies want to be more energy efficient

A recent study by the Federation of Small Businesses has found that 90% of small businesses want to be more energy efficient. Two reason came on top for wanting to save the energy with making savings leading the way and saving the environment coming second.

Almost two thirds of companies have not budgeted for ESOS

A recent study has found that 60% of companies have not budgeted for ESOS, this comes five months after a report found that a majority of companies who needed to comply had not even heard of the scheme. The ESOS scheme requires companies that have more than 250 employees or a revenue greater than £42.5 million a year to complete an energy audit by December this year. It is expected to apply to around 7,000 businesses across the UK.