Ørsted boosts profit by 18% as it goes green

Ørsted earned an operating profit of DKK22.5 billion (£2.65bn) in 2017, an increase of 18% on the year before. The company’s financial results for the year also show it increased its share of renewable energy by 14% to 64% – its target is for at least 95% of its heat and power generation to be green by […]

US woman hit with shocking $284 billion energy bill

Feel like you’re overpaying on energy bills? How about Mary Horomanski from Erie, Pennsylvania, who was hit with an electricity charge of more than $284 billion (£212bn). Luckily for her the bill was a mistake but it still provided quite the shock – it said she had to pay the entire amount by November 2018, […]

Value of global power deals hits two-year highs

The value of deals across the global power and utilities sector has hit two-year highs as confidence soars. That’s according to a new report from EY, which shows the total figure climbed to $74.3 billion (£56.3bn) in the third quarter (Q3) of this year, driven by the volume of mergers and acquisitions in the Americas […]

Millions of renters missing out on energy bill savings

As many as 4.5 million renters in the UK could be missing out on significant energy bill savings. That’s according to new statistics from consumer group Which?, which suggests despite three in 10 Big Six customers believing they would not save any money by switching, an average of £346 could be slashed from bills every […]

Energy industry has repaid 90% of consumer credit

The energy industry has now repaid around 90% of credit owed to former customers. Almost £670 million has been returned since Ofgem called on suppliers in 2014 to give back the money left in consumers’ accounts after they closed their accounts or switched. The companies are now working to return the last £97 million in outstanding credit but some […]

Scottish businesses wasting £19k of energy each year

Scottish businesses are wasting around £19,000 a year through inefficient energy use. The Scottish Government is offering interest-free loans to help these small and medium-sized enterprises (SMEs) install energy efficiency measures, according to a new report from Zero Waste Scotland. The loan can be used to pay for a range of green upgrades, including LED lighting, […]

Majority of SMEs ‘neglecting energy efficiency’

Only a tenth of small and medium enterprises (SMEs) have reduced their energy usage in the last year. A new survey from ScottishPower shows these firms are making little progress with energy saving, despite new technology making it cheaper and easier to cut costs and be more sustainable than ever before. Currently, 60% of SME owners […]

Brits keen to go green but don’t want to pay for it

British energy consumers say they care about going green but aren’t willing to pay more to do so. A survey carried out for supplier OVO Energy shows although 85% of 2,000 respondents say they make conscious efforts to save energy at home, only one in five would pay a higher bill if it was better for the […]

EU issues new €500m green bond

The European Investment Bank (EIB) has issued a new €500 million (£436m) green bond. The EU’s bank announced the Climate Awareness Bond (CAB) last week. It is hoped to spur the market by giving long-term investors the opportunity to own a 21-year green bond in Euros for the first time. Its launch follows the release of […]

A leading academic has condemned “blood oil”

A leading professor has said the West needs to rethink the way it buys its oil. Leif Wenar, Chair of Philosophy and Law at King’s College London, has blamed a law allowing countries like the UK and America to legally buy oil from dictatorships, militias and regimes for the majority of global crises and wars we face. […]