British gas prices dived again on Monday as warmer weather cut forecast demand, while another nuclear power plant restart over the weekend helped drive down wholesale electricity prices. The price of gas for delivery on Monday plunged from 44 pence per therm at the end of last week to 39 pence, while the rest of… Continue Reading »
Read More →Oil prices climbed above $38 a barrel on Monday after the International Energy Agency (IEA) said there could be an oil market supply crunch from next year once global oil demand begins to recover. The IEA warning gave upward momentum to a market undermined by a raft of bearish economic data from Asia. Japan’s economy… Continue Reading »
Read More →EDF Energy became the latest UK energy supplier to lower its fuel bills, announcing it was trimming its UK electricity prices by nearly 9% per cent from March 31st. However, the cuts will only benefit consumers in the south, Wales and Scotland and not those in the Midlands or Northern England. The announcement, which will… Continue Reading »
Read More →The financial crisis has left many assets and sectors battered and bruised. The stock market is down by more than 30% over the past year. The global economy is on its knees but history suggests that equity markets will begin their recovery before GDP figures start to show strength again. Investors who will gain the… Continue Reading »
Read More →Energy firm E.On has announced it is lowering its electricity prices by 9% for most of its customers. E.On says 4.1 million households will benefit from the reduction, which comes into effect on 31 March. It is not reducing its gas prices. E.On said it knew its customers were facing a difficult time and it… Continue Reading »
Read More →BP’s British Innovator liquefied natural gas tanker was expected at the UK’s Isle of Grain import terminal, from Trinidad & Tobago, on February 21st, according to AISLive ship-tracking data on Reuters. The 138,000-cubic-metre tanker was last seen on Wednesday off the coast of Tobago, according to the data, and is expected to arrive in time… Continue Reading »
Read More →Gazprom Marketing & Trading hopes to start supplying power to UK businesses and industrial customers within the next few months. The UK-based arm of Russia’s Gazprom, which currently supplies natural gas to UK commercial users, applied last week to energy regulator Ofgem for a UK electricity supply license. Ofgem is expected to give its consent… Continue Reading »
Read More →British gas prices remained weak on Wednesday, helped by mild weather which trimmed heating fuel demand and Russian supply reaching Europe via Ukraine for the first time in two weeks. Gas for Thursday was down 2.10 pence at 53 pence per therm, while February shed 0.75 pence to 52.50 pence and the 2009 second quarter… Continue Reading »
Read More →British Gas owner Centrica bucked a falling market yesterday, jumping 11p to 284.75p on renewed talk of a possible bid from Russian group Gazprom. The tale seems to have started after Gazprom held an investor day and mentioned it was interested in the UK market. But the Russian group subsequently denied it was in talks… Continue Reading »
Read More →Millions of utility bills are set to fall after four energy suppliers pledged to follow cuts by British Gas and Southern Electric. Bosses from the foreign-owned suppliers E.On, RWE, npower, EDF and Scottish Power were embarrassed into declaring they will cut charges after MPs demanded to know why they have delayed following the British-owned companies’… Continue Reading »
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