Ofwat provisionally approves Thames Water’s £600m resilience spend

The money, half of which will be funded by shareholders, will be spent to reduce leaks and bursts and upgrade hundreds of kilometres of water mains

NAO: Consumers paying ‘higher than necessary’ for electricity due to Ofgem’s regulations

The National Audit Office found households across Britain have paid at least £800m more because of weaker price controls set by the regulator

Shell shareholders reject proposal for emissions target

Shareholders at Royal Dutch Shell have rejected a proposal to set an emissions reduction target. Around 94% of them dismissed the idea of setting the goal at the energy giant’s Annual General Meeting (AGM) this week. Shell Chief Executive Ben van Beurden said while the company supports the Paris climate deal, the proposal is an […]

BG Group trims new CEO pay packet

Gas exploration firm BG Group is trimming the pay of its new boss after shareholder concerns it was too high. The “revised” pay packet means former Statoil CEO Helge Lund will get £4.7 million instead of £10 million as a warm welcome to the British firm. That’s on top of a base salary of £1.5 million […]

SSE confirms £354m profits after price rise

Power provider SSE has revealed its profits and a bigger payout to its shareholders just two days before its household prices are due to rise by 8.2%. The energy supplier confirmed adjusted pre-tax profits of £354 million in the six months up to the end of September – down 11.7% in the same period last […]

Sustainability key for ‘international competitiveness’

British businesses need to be more sustainable if they want to be “internationally competitive”. That’s the view of James Close, a partner at Ernst & Young, who told ELN firms in the UK should look at energy sources with lower costs to be able to compete at an international level. He stressed sustainability isn’t just […]

Cable: shareholders essential for green investment

Vince Cable has touted the role of shareholders to the energy industry in a dispute over the rise of their payouts compared with the rise in bills for consumers. His comments came as Centrica – the parent company of British Gas – brought out its quarterly profits, revealing it had upped the shareholder dividend by […]