HMRC has published draft legislation for the new Energy Profits Levy, along with a detailed explanatory note (21 June 2022). Consultation on the draft Energy (Oil and Gas) Profits Levy Bill will run until 28 June 2022. Read more

Amid soaring prices, political obstacles and pressure for enhanced security, the Government’s new energy playbook needs more than eye-catching targets to tackle the key issues. Read more

The post below was first published on our Energy and Infrastructure Consenting Blog. In a surprise move yesterday which has received relatively little press, Business Secretary, Kwasi Kwarteng, wrote to the British Geological Society giving them 3 months to produce a report setting out whether shale gas can be extracted safely in the UK using … Read more

As we set out in our briefing on the global energy crisis here, there has been a crisis around the world with record natural gas, coal and electricity prices. The causes are a combination of post-pandemic recovery, extreme weather events and fractious geopolitics, which have increased demand and compromised supply. We also argued that the … Read more

Have policymakers left us in energy limbo rather than transition? As winter fast approaches for the Northern Hemisphere, crisis increasingly describes the state the global energy system has reached; right now it’s easy to confuse graphs of energy markets with illustrations of the latest crypto-currency fad. Natural gas, coal and electricity prices around the world … Read more

There is an ongoing global energy crisis with record prices for natural gas, coal and electricity. One aspect specific to the UK, including in relation to the large number of electricity suppliers that have ceased trading this year (21 as of the date of this briefing), is the default tariff cap introduced in 2019. Also … Read more