Search results

Energy policy

UK Chancellor Rachel Reeves lifting budget box in Downing Street

6/11/2024 News

Energy industry ‘disappointed’ by increase in windfall tax, but reaction to other parts of UK Autumn Budget more positive

Announcing her Autumn Budget last week, UK Chancellor Rachel Reeves confirmed that oil and gas companies will contribute more as the Energy (Oil and Gas) Profits Levy (EPL; or 'windfall tax') rises from 35% to 38%. Alongside this, the government is removing the 29% investment allowance, and extending the levy until 31 March 2030. The government will retain the availability of 100% first year capital allowances within the EPL, and will consult in early 2025 on how the oil and gas tax regime should respond to price shocks once the EPL ends in 2030.

Energy policy

Close up of wind turbine looking up from its base

7/8/2024 News

UK government unveils record budget for renewables auction, while raising oil and gas windfall tax

The new Labour government has announced that a record £1.5bn will be available to clean energy projects under this month’s renewables auction round, with £1.1bn on offer to offshore wind developers. It has also raised the Energy Profit Levy (also known as the oil and gas windfall tax) and extended it to 2030.

Wind

17/5/2023 News

Wind power first for Britain

Britain’s growing fleet of wind turbines generated more electricity than gas-fired power stations for the first time in the first three months of this year. Meanwhile, two North Sea offshore wind developers are planning to kickstart a route to net zero North Sea oil and gas production, and the UK government has unveiled a proposal to create a ‘treasure map’ showing the potential for North Sea carbon, capture and storage (CCS) projects.

Oil and gas

11/10/2023 News

Global oil demand expected to reach record levels

Global oil demand is forecast to reach record levels in 2023, with demand expected to continue to grow each year and peak in 2035, suggests a new study.

Carbon trading / pricing

Head and shoulders photo of Chris Hilson standing in front of brick and pebble wall

8/1/2025 Comment / Chris Hilson

Fossil fuel exporting countries – how to account for exported emissions

How are fossil fuel-exporting countries incentivised to cut emissions associated with their fuel exports? They are not, but they ought to be, argues Chris Hilson, Professor of Law at the University of Reading and Director of the Reading Centre for Climate and Justice, UK.

International Energy Week

Head and shoulders photo of Steve Hodgson, Editor-at-Large, New Energy World, standing against bright blue background

12/3/2025 Comment / Steve Hodgson

Looking forward to 2040 and an end for new UK oil and gas projects

While plans for the how the UK can transition to not-far-from-zero by 2040 are published, shorter-term priorities of the oil and gas industry intrude. Steve Hodgson FEI, Editor-at-Large at New Energy World, spent a day at International Energy Week.

Net zero / decarbonisation / energy transition

Andy Brown sitting on stage with projection screen behind, talking to Nick Wayth to left of picture

7/8/2024 Comment / Andy Brown

A vision for accelerating a just energy transition

Andy Brown OBE FEI, President of the Energy Institute, speaks about his vision for his term of office, which began in July 2024.

Oil and gas

Head and shoulders photo of Fergus Green set against grey background

8/10/2025 Comment / Fergus Green

The UK’s tough new climate test for oil and gas producers

Developers of new oil and gas projects must now calculate how much carbon will be emitted during combustion of the oil and gas extracted. And this will make it difficult for the UK government to approve new projects, argues Fergus Green, Associate Professor in the Department of Political Science and School of Public Policy at University College London.

Climate change

Head and shoulders photo of Steve Hodgson

12/6/2024 Comment / Steve Hodgson

Moment of climate truth – with fossil fuels in the dock

United Nations chief António Guterres last week expressed frustration with the gas, oil and coal industries in the face of new evidence of a wrecked climate. New Energy World Editor-at-large Steve Hodgson FEI analyses the speech.

Energy data

Head and shoulders photo of Ian Jones, Head of Knowledge, Insight and Research at the Energy Institute

28/6/2023 Comment / Ian Jones

Energy Institute takes over publishing the Statistical Review of World Energy

The Energy Institute’s (EI) Head of Knowledge, Insight and Research, Ian Jones led the data collection and analysis of the EI Statistical Review of World Energy this year and gives a behind-the-scenes look at the production of the report.

New Energy World™

Search results: