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Energy prices

Close up of gas burner with blue flames

11/1/2023 News

EU finally agrees deal on gas price cap

European Union (EU) energy ministers finally agreed last month on a temporary mechanism to limit excessive gas prices, which sky-rocketed following Russia’s incursion into Ukraine in early 2022. Meanwhile, Russia announced that it would ban oil exports to countries imposing the oil price cap agreed in December by the EU, G7 nations and Australia.

Air source heat pumps

Head and shoulders photo of Kaj af Kleen nstanding in front of blurred background of plant pipework and control panel

11/2/2026 Comment / Kaj af Kleen

A smarter way to heat Europe’s homes

Heat pumps offer economic, environmental and energy security advantages over fossil gas boilers for domestic heating, and represent a fully proven technology in parts of northern Europe. Time for the rest of Europe to catch up, argues Kaj af Kleen, Chief Product and Technology Officer at heat pump company Aira.

Heat pumps

Side on head and shoulder photo of Professor Patrick James sat a desk with left hand cupping chin and elbow resting on desk, while his right hand is keying something in to an angled touch screen; various lab equipment and wall and window in background

26/11/2025 Comment / Patrick James

Smart heat pumps: the potential for demand flexibility in the home

We are partly through a journey into widespread acceptance of the efficacy and suitability of heat pumps to serve UK homes. But a new study has demonstrated another valuable set of advantages to operators of electricity networks that should tip the balance decisively, argues Professor Patrick James from the University of Southampton.

Energy prices

9/2/2022 News

Ofgem to increase the UK’s energy price cap by £693

UK energy regulator Ofgem is raising the energy price cap by 54% from 1 April, driven by a record rise in global gas prices that has caused wholesale prices to quadruple in the last year.

Oil and gas

Nodding donkey in the desert

30/4/2025 News

Saudi shale gas predicted to cut crude burn, while BP heralds new West African LNG production hub

Emerging sources of natural gas are shifting established patterns of supply and demand in Africa and the Middle East. In Saudi Arabia, crude burn – the direct use of crude oil in power plants and industrial facilities, primarily for electricity generation– has long been commonplace. The Kingdom burns significant volumes of oil to meet domestic electricity demand, which hovers around 171 TWh. However, analysis from Rystad Energy shows the upcoming Jafurah shale gas field, set to start production in 2025 and said to be the largest of its kind globally, could dramatically shift this dynamic. Meanwhile, BP has loaded the first cargo from the Greater Tortue Ahmeyim LNG project offshore West Africa.

Wind

24/5/2023 News

Ireland’s first licensing round awards 3 GW of offshore wind

Ireland recently announced the provisional results of the country’s first offshore wind auction under the Renewable Electricity Support Scheme (ORESS 1). The round surpassed market expectations both in terms of the total volume of renewable energy procured and the low price at which it was secured. Meanwhile, the UK government has unveiled plans for improved rewards and benefits to be offered to communities backing onshore wind farms in the UK.

Electricity

Electricity pylon in foreground with blue and yellow sky behind

14/9/2022 News

Electricity prices dictated by gas producers

Natural gas is the main driver of electricity prices across Europe, recent research published by London university UCL has confirmed. The studies also note that despite gas providing under half of the total electricity in the UK, in recent years it set electricity costs 84% of the time.

Fuel poverty

Head and shoulders photo of Chloe McLaren Webb, Project Manager, Centre for Sustainable Energy

11/12/2024 Comment / Chloe McLaren Webb

Ensuring a smart, inclusive and fair energy transition

The energy transition will be a failure unless all domestic consumers are able to participate fully with innovative energy products, services and tariffs. Here, Chloe McLaren Webb, Project Manager at the Centre for Sustainable Energy (CSE), explains how the CSE is helping with this social imperative.

Renewables

Aerial view of solar farm in Morocco

29/6/2022 News

Urgency of accelerating modern energy access in Africa

The path to bringing modern energy access to all Africans while creating new growth industries in critical minerals and green hydrogen has been set out in a new report by the International Energy Agency (IEA).

Energy prices

Close up of gas ring alight

16/8/2023 News

Analysis argues UK government should scrap energy price cap

Although introduced with the best intentions, the UK’s energy price cap (EPC) has gone far beyond its intended purpose and is actively harming competition, leading to higher prices for consumers and higher inflation, according to the latest analysis from the Centre for Policy Studies (CPS).

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