67 h. ago Oversupply of oil could create glut of 4m barrels a day, says energy watchdog

Warning comes as scenario in which global demand continues to grow until 2050 is included in IEA outlook reportThe world is producing more oil than it needs and by next year there could be a glut of 4m excess barrels a day entering the market, according to the global energy watchdog.The International Energy Agency said the surplus in 2026 was likely to be larger than previously forecast, despite a decision from the biggest oil producers to pause their plan to increase crude exports. Continue reading...

Politics

4 d. ago Oil and gas demand to rise for 25 years without global change of course, says IEA

International energy watchdog sets out new pessimistic scenario to reflect fading commitment to climate change

Politics

4 d. ago Supply boom in cheaper renewables will seal end of fossil fuel era, says IEA

Watchdog’s flagship report says rise in low-carbon electricity will make transition ‘inevitable’, despite Trump’s calls to carry on drillingRenewables will grow faster than any major energy source in the next decade, according to the world’s energy watchdog, making the transition away from fossil fuels “inevitable”, despite a green backlash in the US and parts of Europe.The world is expected to build more renewable energy projects in the next five years than has been rolled out over the last 40, according to the flagship annual report from the International Energy Agency (IEA). Continue reading...

Politics

1 week ago BREAKING: UK gas and electricity firm Tomato Energy collapses as industry watchdog steps in

Tomato Energy was banned from taking on new customers this year after racking up £3million in debt - and was serving 15,300 households and 8,400 businesses when it collapsed

Science

2 w. ago Ukraine war briefing: Russian attacks on substations are ‘nuclear terrorism’, says Ukraine

Ukrainian foreign ministry says deliberate strikes on civilian energy facilities violate international law as fears of a winter crisis grow. What we know on day 1,347Ukraine’s foreign ministry has denounced what it described as Russian attacks on substations critical to supplying external power for Ukraine’s nuclear power stations. Russia has carried out “targeted strikes on such substations”, a ministry statement issued late on Friday said. “Deliberate strikes on civilian energy facilities that directly affect the safe operation of nuclear installations bear the hallmarks of nuclear terrorism and constitute a grave violation of international humanitarian law,” it added.The foreign ministry referred to a statement issued on Thursday by the UN nuclear watchdog, the International Atomic Energy Agency, reporting military activity “that has led to damage to substations critical to nuclear safety and security in Ukraine”. The IAEA statement reported incidents near two nuclear plants – So...

Events

2 w. ago Scots arrears could be wiped as major new scheme plans to clear £500m of energy debt – are you eligible?

Up to £500 million of household energy bill debt is set to be written off as part of a new relief scheme, the energy regulator has announced. Watchdog Ofgem said it is planning to "reset and reform" the UK's growing pile of energy debt, which has added pressure to all household bills. Currently £52 is...

Economics

2 w. ago Hundreds of thousands to have energy bill debt wiped as part of new scheme – will you get it?

HUNDREDS of thousands of people will have their energy bill debt wiped thanks to a new relief scheme launched by the industry watchdog.  Ofgem will wipe around £500million of energy debt built up by struggling households under its Debt Relief Scheme, which will be launched from early 2026. The programme will help some 195,000 households,...

Economics