UK economy faces £35bn hit from energy shock
Economists have warned of a £35bn GDP impact from the Middle East crisis, driven by higher energy prices and trade disruption. The economic shock highlights the UK’s exposure to global energy markets. Reinforces link between energy policy and economic stability The UK economy could face a £35bn hit over the next two years as a […]
UK orders refineries to maximise jet fuel production
The UK government has instructed refineries to boost jet fuel output in response to aviation fuel supply concerns. Reflects direct state intervention in energy markets. Highlights ongoing reliance on hydrocarbons. The UK government has instructed domestic refineries to maximise jet fuel production in response to supply concerns linked to escalating tensions in the Middle East. […]
UAE exits OPEC in major shift for oil market dynamics
The UAE has announced its departure from the OPEC production framework, reflecting dissatisfaction with quota constraints. The move weakens cohesion of global oil supply management. It is also likely to increase market volatility. The United Arab Emirates has announced it will leave the OPEC, in a move that could reshape global oil market dynamics and […]
World Bank warns of 24% surge in global energy prices
The World Bank has forecast a 24% rise in global energy prices in 2026, with the possibility that oil could reach $115/bbl in a prolonged disruption scenario. The outlook has been driven by escalating Middle East conflict and supply risks. Renewed inflationary pressure on global economies is a likely outcome. The World Bank has warned […]
Meta explores space-based solar to power AI infrastructure
Meta has signed an agreement for potential space-based solar power supply, with the project aiming to meet energy demand from data centres and AI. Though bullish, the technology remains unproven at scale. The announcement reflects growing pressure to secure clean power for digital growth. Meta is exploring one of the most ambitious energy solutions yet […]
Germany moves to future-proof gas plants for hydrogen transition
Germany is planning incentives for gas plants to convert to hydrogen, with the proposal covering around 2GW of new capacity. The announcement comes as part of a broader strategy to ensure power system reliability. At a strategic level, this signals the integration of gas and hydrogen pathways. Germany is preparing to introduce incentives for new […]
US cancels offshore wind leases in major policy reversal
The US government has cancelled two offshore wind lease areas, with developers to receive refunds – but only if funds are redirected to energy projects. This marks a significant policy shift under the current administration. It also raises concerns over long-term investment stability. The US government has agreed to cancel two offshore wind projects, in […]
SeAH Wind job cuts expose fragility in UK offshore supply chain
SeAH Wind is set to cut up to 72 jobs at its Teesside facility, following the termination of a key offshore wind contract. The announcement highlights financial strain across the UK supply chain. The cuts raise concerns over long-term industrial capacity. The UK’s offshore wind supply chain is facing renewed pressure, with SeAH Wind poised […]
Matrix secures £245m financing for 500MW Scottish battery
Matrix Renewables has closed £245m financing for a 500MW/1GWh battery energy storage system (BESS) in Scotland – one of the UK’s largest battery projects to move into delivery phase. The project targets the congestion-heavy Anglo-Scottish border region. The announcement should help reinforce investor confidence in UK flexibility assets. A major UK battery storage project has […]
Global fossil fuel phase-out summit convenes in Colombia
Around 50 countries have gathered to discuss the phase-out of fossil fuels in Santa Marta, Colombia. The summit operates outside of the formal UN COP process, but aims to build momentum for energy transition commitments. The event will see limited participation from major producers. A coalition of around 50 countries is gathering in Colombia this […]