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Andriy Kobolyev calls for more weapons after Russia destroys one of Ukraine’s largest power plantsA dramatic rise in European energy prices is inevitable if the Russian destruction of Ukrainian energy infrastructure continues unabated, the former chief executive of Ukraine’s state-owned oil company has warned.Andriy Kobolyev, a former head of Naftogaz, said in an interview with the Guardian: “Russia is trying to wage a global...

China’s Longi looks to slash costs as renewable energy sector faces tough headwinds from inflationThe world’s largest solar manufacturer has slashed nearly a third of its workforce after a cost-cutting drive that included telling staff to only print in black and white fell short and as a chill ripples through the renewable energy sector.China’s Longi is to cut as much as 30% of its...

Installations must speed up 11-fold as advisers say latest changes to scheme likely to make 2028 target even harderThe public spending watchdog has criticised the slow pace of the government’s heat pump rollout just days after ministers postponed an important scheme designed to increase the rate of installations.A report by the National Audit Office (NAO) has found that heat pump installations would need to...

Tory government has ‘ducked’ difficult decisions, leading to higher bills, says shadow energy secretaryBusiness live – latest updatesLabour has claimed a “culture of inertia and stasis” has blocked renewable energy projects under the Conservatives and says the party will overturn a de facto onshore wind ban “at the stroke of a pen” if it wins the general election.The shadow energy secretary, Ed Miliband, told...

Oil and gas company criticised by campaigners as it plans more share buybacks to return cash to investorsBusiness live – latest coverageProfits at the energy company BP halved last year to nearly $14bn (£11bn), but were better than expected after weaker oil and gas market prices caused revenues to slump across the industry.BP said it would return more cash to investors with $3.5bn of...

Industry data shows almost 190,000 installed last year as well as record number of heat pump installationsThe number of households and businesses installing rooftop solar panels has reached its highest level in 12 years, while heat pump installations climbed to record highs in 2023, according to the industry’s official standards body.The figures showed almost 190,000 rooftop solar installations were carried out last year, the...

French energy company to invest a further £1.3bn in its British nuclear fleet up to 2026EDF Energy is planning to extend the life of four nuclear power stations in the UK and step up investment in its British nuclear fleet.The French energy company said it would make a decision on whether to extend the life of the four UK plants with advanced gas-cooled reactors...

Climate thinktank says Britain could be left trailing in global race to develop low-carbon energyLabour’s independent energy advisers have warned the party against watering down its £28bn green spending plans in advance of its promise to create a zero carbon electricity system by 2030.Experts at the climate thinktank Ember, which provided the independent analysis underpinning Labour’s green targets, said growing international competition for low-carbon...