Topic
utilities
Commodities Guernsey Energy Prices Rise by 19% in a Year - Report
Energy prices in Guernsey rose 19% over the year ending June 2026, the highest among all categories, pushing overall RPI inflation to 4.3%. Retired households saw a 5.2% increase in their cost of living, according to a new report.
Business Thames Water lenders offer 'golden share' to head off nationalisation
The L&VW consortium of lenders has proposed a golden share and greater local authority control to prevent Thames Water's nationalisation. The sweetened deal adds hundreds of millions of pounds to a previously rejected £10bn plan, which includes writing off nearly half of the company's debt.
Finance Thames Water Lenders Prepare Legal Challenge Against Potential Nationalisation by Incoming PM Burnham
Lenders to Thames Water are preparing a legal challenge in case incoming Prime Minister Andy Burnham attempts to nationalise the utility. The company has about £20bn in debt and warned it has cash only until end of 2026. A proposed lender-led rescue (writing off £9.4bn and injecting £3.35bn in exchange for pollution fine leniency) was rejected by the government as weak.
UK Household Energy Bills to Rise 13.5% as Wholesale Costs Driven by Iran Conflict
UK household energy bills will rise 13.5% from July 1, adding £221 to annual costs, driven by higher wholesale prices linked to the conflict in Iran. Ofgem's cap adjustment reflects these costs, with bills now 79% above pre-crisis levels.
Commodities Trump Administration Adds Duke Energy to Offshore Wind Buyout Campaign With $129M Settlement
The US Department of the Interior has reached a settlement agreement with Duke Energy to terminate its offshore wind lease in the Carolina Long Bay area for $129 million, as part of the Trump administration's broader campaign to halt offshore wind projects. Duke will reinvest the funds in new nuclear, natural gas, and grid enhancements. The administration has now spent over $2.6 billion to terminate nine offshore wind leases.
Budget Energy to Raise Northern Ireland Residential Electricity Prices by 9.5% from August
Budget Energy, a Northern Ireland electricity supplier, will increase residential variable tariff prices by 9.5% from 4 August. The company blames continued wholesale energy market volatility and geopolitical tensions. Customers on fixed-price tariffs are exempt. This follows similar increases by SSE Airtricity and Power NI.
Commodities Geopolitical Tensions Drive Wholesale Energy Costs, Ofgem Price Cap Rises 13%
The UK's energy price cap rose 13% from 1 July 2025, driven by higher wholesale oil and gas costs linked to the US-Israel war with Iran. Ofgem's new cap sets gas at 7.33p/kWh and electricity at 26.11p/kWh for direct debit customers. The regulator also revised typical household consumption estimates downward, reflecting demand reduction.