CBI data highlights business anxiety at rising energy costs
New survey data from the CBI has revealed the extent to which businesses, like households, are concerned about soaring energy costs. More than two-thirds of firms expect their energy costs to increase over the next quarter. A third of firms expect energy price rises to act as a barrier to growth, by stifling current or […]
ECIU: Data shows UK energy moving towards cheaper renewables
Government statistics on UK energy trends in Q1 2022 show that the shortfall in gas generation is being filled by cheaper renewables, namely wind and solar, which have increased their share of electricity generation on the same quarter last year. Commenting on the statistics, Jess Ralston, Senior Analyst at the Energy and Climate Intelligence Unit […]
Multi-billion euro energy link between UK and Germany gets green light for financiers
The European Investment Bank (EIB) — as part of a consortium of more than 20 international banks — has agreed on the financing structure of the first ever energy link connecting Germany and the United Kingdom. The investment to build this interconnector will amount to €2.8 billion, with the EIB set to contribute up to €400 million […]
Europe’s energy crisis creates a ‘trilemma’
HANetf recently reached out to its expert partners in the energy sector to articulate their thoughts on the ongoing energy crisis in Europe [1]. With Europe currently sweltering under extreme temperatures, cold weather is likely the last thing on the mind of many. However, with Russia dialling back supplies to Europe, the continent potentially faces […]
Cybersecurity spending in the energy industry ‘will rise to $10 billion by 2025’
The rapid digitalisation of the oil and gas industry has made the industry increasingly vulnerable to cyberattacks, says GlobalData. The leading data and analytics company notes that companies must now fortify their cybersecurity posture in line with their digitalisation strategy or risk financial and reputational harm. GlobalData’s latest report, ‘Cybersecurity in Oil and Gas – […]
IRENA: Renewable power ‘remains cost-competitive’ amid fossil fuel crisis
Costs for renewables continued to fall in 2021 as supply chain challenges and rising commodity prices have yet to show their full impact on project costs – the cost of electricity from onshore wind fell by 15%, offshore wind by 13% and solar PV by 13% compared to 2020. Renewable Power Generation Costs in 2021, […]
CEBR: Risk of recession in Europe ‘rises to 40%’ as Putin turns off the gas
The Centre for Economics and Business Research (CEBR) estimates the risk of a recession in Europe this winter at approximately 40% as a result of Russian energy taps being closed shut as part of sanctions against the Putin regime. Last week, Germany triggered stage two of its emergency gas plan, following a significant reduction in […]
Routes to deliver net zero
By David Kipling, CEO – On-Site Energy Businesses have complicated energy needs, particularly those that use a lot of thermal energy such as for steam or ovens. Achieving net zero is going to require elements of re-engineering, re-thinking business processes, adopting new technology and changing energy purchasing strategy. But is it even possible in the […]
UK offshore companies to invest £250bn in low-carbon energy
The UK’s offshore energy producers are to invest £200-£250 billion by 2030 to provide the nation with secure and increasingly low carbon energy, according to research by Offshore Energies UK (OEUK). It has assessed the spending plans of offshore energy companies operating in UK waters, looking at their investment plans over this decade. OEUK represents […]
5 Minutes With… On-Site Energy’s David Kipling
In the latest instalment of our energy management industry executive interview series we speak to On-Site Energy CEO David Kipling about rising energy costs, what we can all do to manage through that challenge and how the path to Net Zero presents an opportunity for us all… Tell us about your company, products and services. […]