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Timeline UK renewable energy targets
THE BRIEF
Abhishek Singh
Co-founder and CEO, AiDash
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Franz Rainer
CEO, Daimler Mobility
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Zhongrui Kuang
Founder and CEO, Starry
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Transport for London’s clean energy targets
London Mayor Sadiq Khan announced that all London buses would operate on a net-zero basis by 2030. It previously announced an order for more than 500 netzero buses in London, out of a total fleet of 9,000, including those powered by diesel. The Corporate Environment Plan 2021 sets out how London will become a zero-carbon city and the key areas that must be addressed. Tfl aims to remove 900,000 tonnes of Scope 1 and 2 carbon emissions from its operations.
Shell proposes simplified structure
Shell intends to change its A-B share structure to a single line of shares, move its tax residence to the UK and drop the 'Royal Dutch' prefix.
The implications of Bulb’s collapse
Why was Bulb’s collapse such a big deal?
It’s the biggest UK company to enter administration during the energy crisis so far, leaving taxpayers with a bill of £1.7 billion.
What was the reaction?
Such was its scale – Bulb had 1.7 million customers and was the seventh largest energy provider – that it entered a ‘special administration’ underwritten by the Treasury. What happens now? Customers will continue to receive their electricity supplies, with £1.7bn set aside to support the work of Teneo, the company which is handling the administration, and it will likely consider a restructuring deal, sale or transfer.
Why is the UK vulnerable?
The ‘global gas grab’ is a problem since half of the UK’s electricity is generated in gas-fired plants. Plus problems in wholesale energy markets came on top of one of its least windy summers.
How many firms have been affected?
There have now been 25 firms that have stopped trading and another 11 are struggling to survive. Households are bracing for a sharp rise in bills in 2022. VENTURE GLOBAL
LNG AND PGNIG
Venture Global LNG and PGNiG (Polish Oil and Gas Company) have finalised an agreement under which PGNiG will purchase an additional two million tonnes per annum (MTPA) of LNG from Venture Global for 20 years.
SSE SSE has unveiled an ambitious £12.5 billion net capital investment plan to accelerate progress towards net zero.
UK ENERGY CRISIS Entice Energy, Orbit Energy and Bulb are among the latest companies to go out of business as the UK’s energy crisis intensifies.
AITEO EASTERN E&P An oil spill in Nigeria's Delta region has been spewing for more than two weeks with oil firm Aiteo Eastern E&P reporting the spill on November 5, according to Reuters.
