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 […]
Google secures 500 MW solar PPA with Linea Energy
Google’s agreement with Linea Energy secures the supply of 500 MW of solar to power Texas data centres. The Duffy Solar Project, covering 3,526 acres in Matagorda County, will start construction in Q3 2026 and includes a 235 MW battery. The deal aligns with Google’s 2030 goal to run its operations on carbon‑free energy every hour and adds […]
Renewables save the UK £1.7 billion in gas imports
Record UK wind and solar output since late February 2026 curtailed 41 TWh of gas imports – equivalent to 34 LNG tankers. The UK saved an estimated £1.7 billion on gas imports, with gas-fired generation falling by a third. Renewable generation has exceeded fossil fuel output for 15 consecutive months, hitting a momentary share of […]
Ford Energy pivots from electric vehicles to grid‑scale storage
Ford has launched a subsidiary, Ford Energy, aiming to produce 20 GWh of battery storage annually by repurposing its EV battery plant. The flagship DC Block product delivers 5.45 MWh per container and comes in two‑hour (FE‑250) and four‑hour (FE‑450) configurations. First customer deliveries are expected in late 2027; domestic manufacturing is designed to qualify […]
Global battery storage market surges past 100 GW as deployment enters new era
Energy storage installations jumped by 48% in 2025 to 112 GW/307 GWh and are expected to rise by 41% to 158 GW/459 GWh in 2026. China accounted for 54% of 2025 additions and the US 16%, with utility‑scale projects making up 85%. Long‑duration storage (six hours+) is set to quadruple and the ratio of solar […]
UK energy debt relief scheme delayed
A government plan to clear £500 million of household energy debt has been stalled by legislative delays. Suppliers warn unpaid bills could exceed £7 billion by the end of 2026. The delay increases affordability risk and could undermine public support for the energy transition. Britain’s plan to wipe out half a billion pounds of household energy […]