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Darren Woods’ pay is ‘reflective of record company earnings and stock price performance’, says oil firmExxonMobil handed its chief executive a 52% pay increase to $35.9m (£28.7m) for 2022 after the oil company reported its highest ever profits amid Rus…
SSE’s Seagreen project will deliver enough energy to power more than 1.6 million homesThe world’s deepest offshore wind turbine has been installed almost 17 miles off the coast of Angus as part of Scotland’s biggest offshore windfarm.The Scottish energ…
Exclusive: EMFS, devised by Treasury and Bank of England as backstop fund, was quietly closed this yearThe Treasury spent almost half a million pounds on an unused emergency scheme for energy traders launched by Liz Truss that was quietly closed earlie…
Leaders of Drax, Siemens and others call for green growth to be a priority and ‘regional disparities’ to be closed Business leaders in the north of England have written to the prime minister, chancellor and energy secretary asking for help to reach net…
MPC member Silvana Tenreyro expects such a move ‘to avoid significant inflation undershoot’The Bank of England may need to cut interest rates earlier and faster as the impact from previous increases drags down the economy and pulls back inflation, one …
Exclusive: UAE’s fossil fuel boss will be the president of Cop28, making a mockery of the summit, say campaignersThe United Arab Emirates, which is hosting this year’s UN climate summit, has the third biggest net zero-busting plans for oil and gas expa…
ScottishPower, British Gas and E.ON alleged government’s decision-making process was ‘flawed’The biggest UK state bailout since 2008 will move ahead after justices threw out a high court challenge to the government’s sale of the collapsed energy firm B…
Shares in turmoil as government’s plan seems to rule out North Yorkshire biomass plant from race for subsidiesThe energy company Drax will immediately enter talks with the government after a landmark energy strategy cast doubt over its £2bn carbon capt…
National Audit Office estimates bill of £246m for saving energy supplier as result of sharp fall in gas pricesThe bailout of the bust energy supplier Bulb is expected to cost the government billions of pounds less than originally feared because of a sh…
The shadow net zero secretary Ed Miliband to set out how plan will create jobs in clean energyLabour is recasting its green growth plan as the British version of the US’s Inflation Reduction Act to underline its ambition to invest in good, clean energy…