UK introduces successor to windfall tax, proposes permanent price-triggered levy
The new Oil and Gas Revenue Levy will charge 35% on sales revenue realised above indexed oil and gas price thresholds. It will replace the Energy Profits Levy by April 2030, or earlier if the… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Europe enters summer peak with less than a month of jet fuel
European jet fuel inventories provide less than 30 days of demand cover, the tightest position among the major consuming regions. Britain is particularly exposed following the Grangemouth and Lindsey refinery closures. The vulnerability lies in… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Air-to-air heat pumps could tackle heating and overheating – but hot water remains a barrier
Government-commissioned modelling found reversible air-to-air heat pumps could provide efficient space heating and effective cooling across a range of British housing types. Combined space-heating efficiency ranged from about 2.5 units to four units of useful… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Government signs £260 million transitional biomass contract with Lynemouth
DESNZ and the Low Carbon Contracts Company have signed a four-year Low-Carbon Dispatchable Contract for Difference with the 420 MW Lynemouth biomass power station. The contract will run from April 2027 to March 2031 at a strike price of £154/MWh in 2024 prices. Subsidised generation will be capped at a 27% annual load factor, with a […]
Field secures financing for 1 GWh UK battery portfolio
Field has reached financial close on the 39 MW / 200 MWh Keith battery in Scotland and the 200 MW / 800 MWh Hartmoor project in northeast England. Keith will provide five hours of storage and target congestion around Scotland’s heavily constrained B4 transmission boundary; it is due online in 2027. The four-hour Hartmoor project […]