Energy bills in Great Britain are set to increase by over £220 annually under the new price cap, pushing millions more households into fuel poverty. The End Fuel Poverty Coalition warns that 5.5 million homes will spend 20% of their income on energy.
Qatar anticipates restoring normal LNG production within weeks as US-Iran peace negotiations show progress, aiming to reopen the Strait of Hormuz and ease global gas market pressures.
Global oil and gas markets have seen prices fall after a US-Iran peace deal was confirmed, potentially reopening the Strait of Hormuz. Brent crude dropped to $83 a barrel and gas prices fell 6%, easing fears of severe economic consequences.
US President Trump threatened a "powerful" strike on Iran, vowing to seize control of its oil and gas infrastructure and markets, similar to actions taken against Venezuela. He stated Iran's military capabilities would be eliminated and key facilities like Kharg Island would be captured.
President Trump threatened to seize Iran's oil infrastructure, including Kharg Island, citing the US strategy in Venezuela. He also mentioned potential airstrikes and control over oil markets, though expressed uncertainty about US willingness to occupy Kharg.
President Trump threatened to seize Iran's oil infrastructure, including Kharg Island, and take "total control" of its oil and gas markets, drawing parallels to U.S. actions in Venezuela.
President Donald Trump announced on Truth Social that the U.S. military will attack Iran "VERY HARD TONIGHT" and take over its oil infrastructure, including Kharg Island, comparing the move to operations in Venezuela.
QatarEnergy has launched the first LNG exports from its Golden Pass project in Texas, deepening its presence in the US and strengthening its position in global gas markets.
The UK government is planning a major overhaul of its electricity pricing system to decouple power costs from gas prices. The reform aims to increase the role of cheaper renewables, though experts warn of short-term volatility and complexities regarding regional pricing.
Ed Miliband has a rare chance to do for the climate what Nye Bevan did for health: create something future generations will be proud ofIt looks unlikely that Labour will emerge as the largest party at the next general election (though it’s by no means impossible). If just one term is Labour’s destiny, what legacy will it leave behind? There is already in the making one great success that can’t be reversed, the transition to homegrown clean energy. This is a true “taking back control” escape from the clutches of febrile oil and gas markets. Indeed it might become such a political success that it could rescue Labour’s electoral fortunes.Historically it may come to be recognised as equivalent to the 1948 creation of the NHS, with Ed Miliband the Nye Bevan of our day. He has fought his cause in much the same ruthless way Bevan did. He faces the same ferocious (and politically deranged) opposition from the right, who will have to eat their hats over rejecting renewables. Just as the NHS is a prime reason for pride in Britain, we can expect the same national pride in homegrown energy independence, freeing us from rollercoaster markets and mercurial foreign oil and gas dictators: Vladimir Putin, Donald Trump or ayatollahs.Guardian Newsroom: Can Labour come back from the brink?On Thursday 30 April, join Gaby Hinsliff, Zoe Williams, Polly Toynbee and Rafael Behr as they discuss how much of a threat Labour faces from the Green party and Reform UK – and whether Keir Starmer can survive as leader. Book tickets here or at guardian.livePolly Toynbee is a Guardian columnist Continue reading...
