ITM Power secures £86.5m in government funding for major Yorkshire hydrogen project
The UK government and its new publicly owned utility, Great British Energy, announced a combined £86.5 million funding package for ITM Power to expand its electrolyser factory in Sheffield. The package comprises £40 million in equity from Great British Energy and an in‑principle £46.5 million grant from the Department for Energy Security and Net Zero (DESNZ). The funds will help build a 1 GW […]
UK government boosting rooftop solar and plug‑in kits
As part of its clean‑power mission, the UK government is making plug‑in solar panels available in stores and will require all new homes to be built with solar panels. Ministers view rooftop solar as a way to shield households from volatile gas markets and cut bills. Widespread adoption of rooftop solar could reshape the distribution […]
Goldman Sachs trims oil price forecasts but cautions supply risks remain
Goldman Sachs lowered its Q2 2026 Brent and WTI forecasts to $90 and $87 per barrel respectively, from $99/$91. The bank notes that prices could rebound if the ceasefire collapses or 1-2 million barrels per day of capacity is permanently lost. The forecasts highlight how sensitive prices are to the still‑closed Strait of Hormuz and emphasise significant downside […]
Israeli gas restart lifts supply prospects amid uncertainty
Israel’s energy ministry has instructed Energean to restart the Karish offshore gas platform, closed since 28 February. The resumption follows a US-Iran ceasefire; the nearby Leviathan field restarted last week. Energean’s London‑listed shares rose 2.4% on the news, signalling investor optimism. When the US-Israeli conflict with Iran escalated in late February, Israel halted operations at its […]
Britain’s solar surge: Record generation and approval of the Springwell project
Great Britain set a new solar generation record: 14,414 MW between 12:30 and 13:00 on 7 April, enough to power 11 million homes. The record came just a day after the previous high, highlighting rapid growth of the UK solar fleet. The UK government approved the Springwell Solar Farm, an 800 MW project with battery storage that will […]
UK to insist Hormuz remains toll‑free and call for Lebanon’s inclusion in ceasefire
In a major speech, foreign secretary Yvette Cooper will argue that no tolls should be levied on ships transiting the Strait of Hormuz. Cooper will stress that about one fifth of global oil and gas passes through the Strait and that freedom of navigation cannot be sold to individual bidders. She is expected to urge […]
Crumbling ceasefire drives oil back toward $100 and shakes markets
A fragile two‑week ceasefire in the Iran war is already showing cracks, pushing Brent back toward $100 and knocking European and Asian stocks lower. There is little sign that the Strait of Hormuz has reopened; Iran continues to demand tolls for safe passage. Israel’s heaviest strikes on Lebanon since the conflict began and President Trump’s threat […]
Tehran’s proposed Hormuz toll: An existential challenge for global energy
Reports suggest Iran wants to levy up to $2 million per vessel for ships transiting the Strait of Hormuz. The mere threat of a toll has already lifted war‑risk premiums and pushed operators to plan alternative routes through Saudi and UAE pipelines. Tehran’s control over the world’s busiest energy chokepoint would hard‑wire higher transportation costs into oil […]