Saturday, November 1, 2025
Inside Europe’s energy price crisis- oil and gas 360

Inside Europe’s energy price crisis

(Oil Price)– Energy prices for consumers across the UK rose again this month. Ofgem, the energy regulator, set the maximum annual rate for an average household for gas and electricity at £1,755 until the end of the year. The cap is now over £600 higher than when it was first introduced in 2019. Under the cap, the average price of

UK approves $2.5 billion funding for power link to North Sea wind farms- oil and gas 360

UK approves $2.5 billion funding for power link to North Sea wind farms

(Oil Price) – The UK’s energy regulator Ofgem on Friday awarded a $2.5 billion (£2 billion) funding package for a subsea and underground cable between Scotland and northern England that would give North Sea wind farms additional access to the grid. Eastern Green Link 1 (EGL1) will be a high voltage electricity superhighway able to transport 2 gigawatts (GW) of UK wind-generated electricity