The gap between electricity supply and demand is expected to be narrower this winter than last as the country battles an energy crunch but there should be no disruption from the lights or gas flames going out, according to key industry reports. System operator National Grid released eagerly awaited forecasts covering both gas and electricity
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British dairy farmers say they have poured tens of thousands of litres of milk away due to the HGV driver shortage – and fear it is just the “tip of the iceberg” ahead of winter. One fourth-generation dairy farmer in central England has been forced to dump 40,000 litres of milk over the past two
Wholesale gas costs reached new uncharted territory on Wednesday as financial markets fret over the impact of inflation on the global recovery from the coronavirus crisis. The gas contract for next-day delivery in the UK breached £3/therm for the first time on Wednesday morning and was as high as £3.20 at one stage. Market experts
Wholesale gas prices have hit record highs and oil has reached a new three-year peak – further fuelling worries about higher prices for consumers and businesses ahead. The British day-ahead contract for natural gas hit 277p per therm, 32% higher than Monday and surpassing the 275p per therm level seen during the “Beast from the
New car sales plunged by 35% in September as chip shortages inflicted a major setback on what is normally a key month for the sector, according to industry data. Just 214,000 new vehicles were registered, the weakest for the month since the “two-plate” system for new cars was introduced in 1999, said the Society of
A pharmacy industry body has warned of delivery delays for medicines in some parts of the country but says it is managing the supply situation to ensure no disruption to patients and customers. The Association of Independent Multiple Pharmacies (AIMp) said a combination of the fuel delivery squeeze and wider delivery driver shortage were to
Ovo Energy will this week table a takeover offer for rival Bulb in a bid to create the second-largest supplier in Britain’s crisis-hit energy market. Sky News has learnt that Ovo, which joined the ranks of the market’s biggest players when it completed the takeover of SSE’s retail customer base nearly two years ago, is
The fuel supply crisis is “virtually at an end” in parts of the UK, but problems persist in London and the South East, the Petrol Retailers Association has said. There has been no overall improvement in the crisis in the last 24 hours, the group added. However, issues with getting fuel were “virtually at an
A British logistics start-up backed by the Amazon founder Jeff Bezos and other titans of the technology world is raising tens of millions of pounds to help it satisfy booming demand for its services. Sky News has learnt that Beacon, which helps companies to manage their supply chains more efficiently, has sealed a $50m (£37m)
A US private equity firm has won the auction for British supermarket group Morrisons with a £7bn bid. Clayton, Dubilier & Rice (CD&R) bid 287 pence per share. Morrisons is Britain’s fourth-biggest supermarket by market share, after market leader Tesco, Sainsbury’s and Asda. Based in Bradford, the business began as an egg and butter merchant
The restaurant empire founded by Sir Terence Conran is to change hands for the first time in nearly a decade after its owners entered exclusive talks with a little-known private equity investor. Sky News has learnt that D&D, which owns prominent London restaurants such as the Bluebird in Chelsea, Coq d’Argent in the heart of
Sir Keir Starmer has called on the government to take “emergency action to get a grip” on the HGV driver shortage causing fuel and food shortages. The Labour leader said the prime minister needs to deploy the 150 army drivers that are on standby now to petrol stations across the UK after an independent fuel
Pre-departure tests for anyone travelling to the UK are being reintroduced as the government continues to gather information on the new Omicron COVID variant. The move coincides with Nigeria being placed on the red travel list – and represents the biggest change to the UK’s travel rules in quite some time. What’s the latest? All
A 12% rise in the energy price cap has taken effect amid warnings further increases are inevitable in the months ahead as wholesale costs surge in a time of “chaos” for the wider economy. Labour, which has claimed a “winter of discontent” looms, accused the government of complacency over “the fuel crisis, energy costs crisis,
The fuel crisis is “back under control” as more is now being delivered to petrol stations than is being sold, a minister has told Sky News. After days of long queues at petrol stations and with many running out of fuel, Simon Clarke, chief secretary to the Treasury, said the main message today is “there
The UK economy grew more strongly than previously thought in the second quarter as consumers curbed their savings to fuel a spending splurge. Gross domestic product (GDP) increased by 5.5% in the April-June period, according to the Office for National Statistics (ONS), which had initially estimated growth of 4.8%. It means that by the middle