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The Latest Breaking News from Gas Prices

Europe's efforts to shield households from soaring energy costs

Europe faces massive increases in energy bills driven by rocketing gas prices as the Ukraine conflict and European sanctions on Russia heighten concerns over gas supplies.

Reuters

Germany announces energy windfall tax and €65bn package to help ease prices

Chancellor Olaf Scholz says country ‘will get through this winter’ as he accuses Russia of breaking contract

The Guardian - UK

Energy crisis: Why UK will be at mercy of international gas prices for years to come

Avoiding a significant gas supply emergency this winter will require the continued flow of some Russian gas to Europe

Wales Online

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Russia Keeps Pipeline Shut as Gazprom, Siemens Energy Wrangle

Russia kept one of its main gas supply routes to Europe shut on Saturday, stoking fears of winter fuel shortages and spotlighting differences between Gazprom and Germany's Siemens Energy over repair work on the pipeline. Already struggling to tame soaring gas prices, European governments had expected the Nord Stream 1…

Asharq Al-Awsat

Pressure grows on France to levy windfall tax on ‘super profits’

As ordinary French people fret over the rising cost of living, the government is under pressure to levy a windfall tax on energy firms that have reaped the benefits of higher oil and gas prices pushed up by the war in Ukraine. While the government is divided, PM Elisabeth Borne…

Radio France Internationale

Energy contracts reform can bring prices down – if the new PM is tough enough

A switch from outdated wholesale pricing deals will require a government that can face down vested interests

The Guardian - UK

Energy industry backs plan to save businesses and homes up to £18bn a year

Idea would separate the cost of electricity produced by nuclear and renewable sources from generation by gas

The Guardian - UK

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Why are wind farms making massive profits because gas prices have soared?

Experts have called for the price of power made by wind turbines to be split from the cost of gas.

The Independent UK

Electric Ireland announces another price increase on electricity and gas in new cost of living blow

It marks the third time this year that Electric Ireland has hiked its prices. The rises will equate to €37.20 per month on the average residential electricity bill and €42.99 per month on the average residential gas bill.

Irish Mirror

Wholesale gas prices fall as Europe’s plan to avert winter energy crisis takes shape

Price of gas for delivery on Friday drops 21% from Wednesday night’s price of 405p per therm to 320p

The Guardian - UK

PrepayPower announce €750 hike in gas and electricity prices

The provider’s electricity prices will rise by 19 per cent, while gas prices will rise by 29 per cent, resulting in an additional €339 to the average electricity bill and €428 to the average gas bill

Dublin Live

PrepayPower announce price hikes for electricity and gas customers from October 1

The increase will see electricity prices rise by 19 per cent, while gas prices will rise by 29 per cent

Irish Mirror

Why are energy bills increasing?

Squeeze on wholesale gas prices around the world driving up household bills

The Independent UK

Energy crisis: why the UK will be at the mercy of international gas prices for years to come

The UK is trying to ensure households and businesses have enough energy this winter by turning to international markets buoyed by booming US liquefied natural gas (LNG) supply, and reinstating retired storage capabilities. But the impact of Russia’s recent decision to switch off its Nord Stream 1 pipeline has proven…

The Conversation

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Wales Online

Wholesale UK gas prices fall sharply ahead of interventions

But they are still 12 times higher than they were at the start of 2021

StockNews.com

Is Devon Oil a Better Energy Play Than Marathon Petroleum?

Elevated oil & gas prices have been helping energy companies thrive, with oil producers' free cash from operations increased significantly this year. Therefore, Marathon Petroleum (MPC) and Devon Energy (DVN) beat the market volatility. But which of these stocks is a better choice for investors? Read more to find out….

The Guardian - UK

Wholesale gas prices tumble as Europe prepares to intervene in energy markets

European Commission says it is working ‘flat out’ on emergency intervention and on longer-term structural reform

Reuters

Explainer-How could Europe cap surging energy prices?

The European Union is preparing emergency plans to cap gas prices or separate power prices from the soaring cost of gas - as well as longer-term reforms aimed at ensuring electricity prices reflect cheaper renewable energy.

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Evening Standard

Inflation could rise to 22% in the UK if gas prices fail to drop, Goldman Sachs warns

Inflation is tipped to increase after the energy price cap rises from £1,971 to £3,549 on October 1

The Independent UK

Why are energy bills increasing?

Squeeze on wholesale gas prices around the world driving up household bills

Birmingham Post

Pub and brewery bosses warn over mass closures due to soaring energy bills

Rising gas prices following the invasion of Ukraine by Russia have contributed to rocketing energy bills for operators.

The Independent UK

Republican senator suggests Biden using Mar-a-Lago raid to distract from falling gas prices

Ernst’s talking points come as prices have dropped for weeks

The Independent UK

EU, German leaders pledge reform to cut electricity prices

The head of the European Union’s executive branch and Germany's chancellor have pledged a reform of the continent’s electricity market to help bring down power prices that have been pushed higher by skyrocketing gas prices

The Independent UK

Why are energy bills increasing?

Squeeze on wholesale gas prices around the world driving up household bills

Asharq Al-Awsat

Oil Climbs on Prospect of OPEC Supply Cut, Demand Growth

Oil prices rose 1% on Monday, as expectations that OPEC would cut output if needed to support prices, coupled with conflict in Libya and rising demand amid soaring natural gas prices in Europe, helped offset a dire outlook for US growth. US West Texas Intermediate (WTI) crude futures jumped $1.09,…

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