The U.K. energy minister said Thursday that more energy suppliers might fail in the coming weeks, and that the government won't rescue them. The government would like a competitive energy market which can deliver choice and lower prices, Kwasi Kwarteng said in an oral statement to parliament. "The solution to this crisis will be found from the industry and the market--as is already happening, and government, I repeat, will not be bailing out failed energy companies," he said.
The energy price cap, applied to gas and electricity tariffs for millions of UK households, will remain, Britain's business minister Kwasi Kwarteng said on Wednesday, as the sector battles soaring wholesale costs. "The price cap is here to stay," he told a committee of lawmakers, also warning firms to first try to resolve problems themselves.
Energy companies on Wednesday scrambled to open new offshore supply operations and restart pipelines and platforms, days after Hurricane Ida slammed the U.S. Gulf Coast, executives said. Oil refineries, however, could take weeks to restart while utilities work to restore power and supply water, they said.
North America’s largest offshore wind energy conference successfully concluded this afternoon, bringing together over 1,000 leaders representing more than 600 global companies at the International Offshore Wind Partnering Forum. The event unofficially kicked-off Monday with tours of Dominion Energy’s Coastal Virginia Offshore Wind project and the Portsmouth Marine Terminal.
Greenbacker Capital Management, LLC, announced today that, through an affiliated fund, it is increasing its investment in Clear Energy Renewables, an owner-operator of hydroelectric power generation facilities in New York.
The global steel industry may have to write down up to $70 billion in assets in the coming years because it is still building new blast furnaces using coal that will become obsolete as the world cuts carbon emissions, a report said on Tuesday.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
