Drax profit down 39% as group accelerates move beyond biomass
First-half adjusted EBITDA fell from £460 million to £279 million, principally because of lower achieved power prices at Drax Power Station. Drax maintained full-year guidance of approximately £665 million and raised its 2029 target to between £650 million and £800 million. The £561 million acquisition of Bluefield Solar Income Fund would add 0.9 GW of […]
Glencore trading profit more than doubles as commodity disruption pays off
Glencore expects approximately $3.3 billion of adjusted earnings from commodity marketing in the first half of 2026, up from $1.4 billion a year earlier. Energy market dislocation helped push the division close to the top… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Getting into the wires – Setting the stage for AI innovation in the UK
By Eleanor Akers, founder of Innovative Energy Consultants. One of Andy Burnham’s first acts as Prime Minister was to merge the Department for Science, Innovation and Technology (DSIT) with the Department for Business and Trade… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Shell profit more than doubles as Middle East volatility powers $9.8 billion quarter
Shell’s Q2 adjusted earnings rose to $9.8bn, beating analyst expectations and more than doubling from a year earlier. Strong LNG and oil trading, higher commodity prices and improved refining and chemicals margins outweighed a 31%… You must be a Premium Subscriber to read this. You must be a Premium Subscriber to view this content. You […]
Ofgem proposes ‘commitment fee’ to purge speculative data centres from grid queue
Data centre projects of 40 MW or more could be required to secure between £237,500 and £712,500 for every megawatt of requested grid capacity. The money or equivalent financial security would be returned at energisation but could be forfeited if a project withdraws or fails to meet new development milestones. Ofgem has identified around 73 […]
Hydrogen industry urges targeted role for fuel in hard-to-electrify transport
The Hydrogen Energy Association wants hydrogen used alongside batteries in demanding HGV, construction, commercial fleet and specialist rail applications. Its proposals include coordinated vehicle and refuelling support and recognition of hydrogen combustion engines in future zero-emission rules. Claims of £46 billion in annual economic value and 410,000 jobs relate to an economy-wide 2050 scenario, not […]