General Electric was blocked by a federal judge in Boston from making or selling its massive Haliade-X offshore wind turbines in the US, dealing a fresh blow to the conglomerate’s struggling renewable energy division.
All Bloomberg Posts
Incoming UK Prime Minister Liz Truss is finalizing plans for a £40 billion ($46 billion) support package to lower energy bills for businesses.
Incoming Prime Minister Liz Truss has drafted plans to fix annual electricity and gas bills for a typical UK household at or below the current level of £1,971 ($2,300).
British energy consumers could save £26 billion ($30 billion) over the next two years, nearly £950 per household, through a government plan to cap profits of existing wind and solar farms in exchange for long-term price certainty.
The UK government plans to offer fixed-price contracts to existing renewable-energy producers as a way to blunt the impact of soaring power costs on households this winter, according to people familiar with the discussions.
Liz Truss ruled out introducing any new taxes or rationing of energy this winter if she becomes UK’s next prime minister, two eye-catching pledges in her final pitch to win the post.
A 9 billion-euro ($9 billion) offshore wind power hub planned in the Baltic will mark a significant step in the process of weaning Europe off its reliance on Russian gas, according to the German and Danish governments.
European oil major Shell is looking at expanding its wind-power business in Australia as it eyes options offshore and diversifies away from fossil fuels. Significantly, Australia’s offshore wind sector remains at a nascent stage of development.
UK ministers were warned that energy-intensive industries were at risk of work slowdowns and site closures due to soaring energy prices even before Russia’s invasion of Ukraine exacerbated the crisis.
Shell engineer Denise Neill knows as well as anyone in Aberdeen, the UK’s oil capital, that the fortunes of a city that gets its income from one source can change quickly.