EU considers carbon pricing for international flights
The European Commission is reviewing whether to expand its Emissions Trading System to cover flights departing the EU. Currently, only flights within Europe are subject to the carbon market. Senior official Polona Gregorin said the extension would ensure equal treatment for all routes, but the move risks backlash from non‑EU partners such as the US, […]
OPEC trims 2026 oil demand growth but expects a rebound in 2027
OPEC’s latest monthly report has cut the forecast for 2026 global oil demand growth from 1.38 million barrels per day to 1.17 million bpd. The reduction reflects the economic fallout from the Iran war and high prices. The cartel raised its 2027 demand‑growth projection to 1.54 million bpd as economies recover, implying that demand destruction […]
IEA warns of the largest‑ever oil supply shock; global deficit looms
The International Energy Agency’s May oil market report warns that the Middle East war has shut in more than 14 million barrels per day of crude, creating the largest oil supply disruption in history. Global supply is set to fall 3.9 million bpd in 2026, leaving supply 1.78 million bpd below demand; even with high […]
Germany rolls back 65% renewable heating mandate
Germany’s cabinet has replaced the 2023 law that required new heating systems to run on at least 65% renewable energy with a Building Modernisation Act. Households can continue using gas and oil boilers indefinitely. New gas and oil boilers installed after the law takes effect must blend at least 10% renewable fuels from 2029, rising […]
E.ON’s £600 million purchase of OVO: A seismic shift in UK retail energy
Germany’s E.ON has agreed to buy rival OVO Energy in a deal that will add about four million customers to E.ON’s 5.6 million strong base. The combined company will supply roughly 9.6 million households, overtaking Octopus Energy’s 8 million to become Britain’s biggest provider. More than 60% of the enlarged customer base will have smart […]
The UK Energy Independence Bill – accelerating clean power and shielding consumers
The King’s Speech signalled the new government’s flagship Energy Independence Bill, pledging to scale up home‑grown renewables and break the link between electricity prices and volatile gas imports. The legislation will streamline planning and licensing for offshore wind farms, hydrogen infrastructure and grid upgrades. It also expands Ofgem’s remit to cover third‑party energy brokers, giving […]