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The Week’s Top Energy News – 18/11/2016


This week has seen the signing of a historic agreement, the flight of a plane powered solely by wood and speculation about energy prices.

Here is our round up of the big stories from the past 7 days…

Minister to investigate energy firms after profit claim – The BBC

Energy firms are under pressure again, as a report by The Sun claims they may be making up to 6 times more than they claim to. Using figures from a report by accountancy firm PwC, The Sun claims that energy suppliers could actually be making a 24% profit on a typical dual fuel bill, rather than the 4% they claim.

Oil industry faces boom and bust – The BBC

The IEA energy group claims that the oil industry is at risk of a bust, claiming that demand may outstrip supply in the next decade. This is occurring against the background of an over supply of oil, which has driven down prices in recent years. The oversupply has allowed the industry to sit back on its laurels, leading to a lack of investment in developing new reserves.

Wood fuelled plane makes first jouney – Energy Live News

A jet powered by fallen forest branches has made a flight from Seattle to Washington. The Alaskan Airlines plane is part of a 5 year research project supported by the US Department of Agriculture and Washington State University.

Can Europe cope with another Russian gas crisis? – Energy Analyst

35% of Europe’s gas comes from Russia, and 38% of the UK’s gas comes from Europe. With relations between Europe and Russia tense at best, this article looks at how dependent we are on Russian gas, and how we could cope with a disruption in supply.

Electricity prices to rise 10% in January – The Daily Mail

More bad new for energy prices as costs are tipped to rise 10% in January, due to extra energy taxes being imposed by the Government.

Paris Agreement Ratified by the UK – The Independent

This week the UK formally ratified the historic Paris climate change agreement. Despite the future of the agreement being somewhat up in the air following Donald Trump’s presidency, the UK Government remains committed to tackling climate change. Foreign Secretary Boris Johnson ratified the agreement, on behalf of the Government, at the United Nations climate summit in Marrakesh.

Keep up with the latest energy news plus small business advice on Twitter @switchmybiz

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