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Forties Pipeline Shutdown And Jump In Oil Prices Hit Uk Trade
Britain’s economy showed few signs of rebalancing in December as the trade deficit jumped and industrial production took a blow - though economists hope it is just a blip in a positive longer-term trend. The closure of the Forties pipeline for repairs slashed oil and gas output by 24.2pc month on month while the higher global oil price pushed up import costs, just as those imports increased. Poor services trade numbers also contributed to the £4.9bn deficit in December, the ... Full investment news article
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New Energy Investment Favours Mini Power Plants After Cheapest Ever Auction
Britain’s much-needed investment in new power plants will favour small-scale projects and batteries after a Government auction to secure future power supplies fell to its lowest ever level. The would-be developers of large-scale gas plants were locked out of an annual reverse auction, which cleared at its lowest ever price of £8.40 per kilowatt for the year 2021 to 2022. The auction is designed to offer the most economic power plants a contract to be on standby through the winter ... Full investment news article