‘Energy customers need more transparent and visible data’

Simon Cox, Director at EY Advisory, said energy suppliers, brokers and TPIs need to work out their role in the changing marketplace as data becomes an increasingly valuable commodity

Oil & gas deals hit five-year low in 2017

The volume of global oil and gas deals hit a five-year low in 2017. That’s according to a new report from business services firm EY, which found the total value of global transactions fell to $343 billion (£247bn) from $390 billion (£281bn) the year before. Despite a 21% increase in single deals of more than $1 […]

EVs and traditional cars ‘to reach parity within decade’

  Electric vehicles (EVs) are to overtake traditional combustion engines in terms of price and performance within a decade. That’s according to Benoit Laclau, Global Power & Utilities Leader at EY, who spoke to ELN earlier this week about important stages in the energy sector becoming more decarbonised, digitised and decentralised. He said the first […]

Falling oil prices ‘continue to impact UK firms’

Falling oil prices continued to impact UK oilfield services (OFS) in 2016, with the sector’s turnover falling by 15.5%. That’s the suggestion from consultancy EY, which warns the industry’s approach to recovery in 2018 could prove critical for long-term success. The report shows turnover declined from £35.7 billion in 2015 to £30.2 billion the following […]

‘All energy suppliers vulnerable to cyber attacks’

Power utilities are poorly equipped to deal with increasingly frequent and unpredictable cybersecurity threats. That’s according to a survey of 1,200 global utilities conducted by consultancy EY, in which all organisations responding said their defences against hackers did not match up to their needs. It also found 58% of these companies in the energy sector […]

Supply chain ‘needs support to get behind new nuclear’

The UK’s new nuclear build programme presents significant opportunities for the country’s supply chain but more support is needed from industry and government. That’s according to a new report from EY, which suggests the approaching decade will be critical to increasing capacity and meeting energy demand, which is expected to rise by 20% over the […]

Energy industry ‘must take lead on new policies’

The energy industry needs to take the lead in developing new policies and regulatory frameworks because the government is too busy. That’s according to Mark Gregory, EY’s Chief Economist, who spoke to ELN at our Energy Live Expo last week. He said as a consequence of the Brexit vote, higher inflation and low business confidence […]

Energy industry ‘requires new policy framework’

The energy industry requires a new policy framework based on clear objectives and a simpler structure. That’s according to EY’s Chief Economist, Mark Gregory, who suggested this is necessary after the slowing economy, the EU Referendum and a shift in public mood have reduced business confidence, scared investors and seen the value of the pound […]

Queen’s Speech: Reactions from industry

Some in the industry have expressed disappointment about the government’s lack of commitment to the energy price cap as it was not mentioned in the Queen’s Speech today. Green energy supplier Bulb believes the price cap is necessary for householders to benefit from cheaper bills. Co-founder Hayden Wood said: “A cap would be a big […]

Blockchains ‘will become essential within a decade’

Blockchain technology will become an essential aspect of the energy and finance industries within the next decade. That’s according to Stephen Church, Energy Market Leader at EY, who spoke to ELN at our Energy Live Future conference yesterday in Leicester. Discussing the emerging disruptive technology, Mr Church told ELN: “Adoption will happen in very small pilots to begin […]