An economic death spiral occurs when a system loses critical mass. For example, the UK’s energy death spiral – which is reaching its crisis phase – is the result of rising energy costs creating an involuntary loss of demand across the system. In part, businesses and households engage in energy-saving and conservation methods to lower their demand.
Octopus Energy has launched a brand new tariff for customers with solar, a battery and an electric vehicle at home. Octopus Flux will be able to save customers more than £326 a year compared to the suppliers next more appropriate tariff, it noted. “We’re delighted to launch our next generation import/export tariff, 'Octopus Flux', for
110 UK academics have signed a letter to energy security secretary, Grant Shapps, calling for the UK to join key allies such as Germany, the Netherlands and France, in withdrawing from the Energy Charter Treaty (ETC). The ETC was signed in 1994, coming into effect in April 1998. It provides a multilateral energy framework for
A battery storage system in the UK has begun delivery of reactive power services to the grid in what has been claimed as a world first contract of its kind. Developer-investor Zenobe Energy also said that its 100MW/107MWh battery energy storage system (BESS) in Capenhurst, Chester, is currently the largest battery project directly connected to
Oil and gas giant BP confirmed it more than doubled its annual profit in 2022 to £23 billion ($27.7 billion), up from the £10.6 billion ($12.8 billion) witnessed in 2021, owing to soaring oil and gas prices. The profits witnessed by BP across 2022 have been propelled by soaring oil and gas costs amid the
The Government is to launch a new Department for Energy Security and Net Zero, Prime Minister Rishi Sunak has today announced. This new department will be led by Grant Shapps who will become the first Secretary of State for the new Department for Energy Security & Net Zero. It is one of four new
RenewableUK has confirmed that across the entirety of 2022, only two small onshore wind turbines had been developed across England despite a “record-breaking” year for offshore wind. (Image: Needpix.com) According to analysis via RenewableUK’s EnergyPulse data analysts, a total of just over 3.5GW of new wind capacity had been installed in 2022. Of
Five energy trade associations have written a joint letter to the Chancellor Jeremy Hunt, calling on him to offer a more competitive capital allowance regime in the upcoming Spring Budget to incentivise investments in the UKs renewable industry. The chief executives of Scottish Renewables, RenewableUK, Solar Energy UK, Energy UK and the Nuclear
Scotland's new £900 million battery storage facilities will boost resilience during down periods, the Scottish Cabinet Secretary for Net Zero, Energy and Transport has said. Michael Matheson hailed Amp Energy’s plans to establish Europe’s largest green energy storage complex across three sites in Scotland, with the first in Ayrshire. “Amp Energy’s battery storage facility
Just two onshore wind turbines were installed in England last year, as the industry awaits pledged planning reforms for new projects. Overall, just ten new onshore wind projects were installed in 2022 across the UK, according to new research published by trade body Renewable UK. This boosted onshore wind generation by 318MW, powering a further