Rolling coverage of the latest economic and financial news
- No need to panic buy, says minister
- Citizens Advice: perfect storm for poorer households
- Energy bills probably rise if your supplier fails
- UK firms face shortages…and ongoing import challenges
- Fears of disruption this Christmas from lorry driver shortage
- Gas firms may face windfall tax as energy crisis hits households
- Bank of England setting interest rates at noon – no change expected
More normal service resumed on UK grid with wind speed picking up. But I hope long term lessons will be learned. Yes flexibility is great but it is far from the whole answer. We need to draw renewable energy from diverse sources and have large long term stores. pic.twitter.com/eASTMCmUXg
GB Grid: #Wind is generating 11.42GW (37.12%) out of 30.75GW
There’s some encouraging news on the UK energy front — the wind has picked up, meaning renewable energy is making a bigger contribution to the mix again:
BLOWIN’ IN THE WIND: UK wind power generation surges to its highest since late May, surpassing 12 GW for the first time in 4 months. Renewable energy is accounting for ~45% of total electricity generation right now in Britain | #EuropeanEnergyCrunch #Snapshot pic.twitter.com/SFyqmQeuoW
Not only crude stocks are drawing bigly in the US (thanks in part to GoM outages), but also in Europe, Japan and China. And, according to @Vortexa data, floating crude is down sharply in the last 2 weeks (falling at a ~2.5m b/d rate) to the lowest since early Mar 2020 #OOTT pic.twitter.com/G8KO7l5Ph9
“Supply shortage of gas could encourage power utilities to shift from gas to oil if winter turns out to be colder this year.”
Oil price on the way up again, above $76 per barrel pic.twitter.com/i7n5zl4WCG
Gas, meanwhile! pic.twitter.com/ll0mGULzm6
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