Energy crisis

By David Gaffen (Reuters) - For the energy industry, 2022 will be remembered as the year Russia's invasion of Ukraine accelerated a global energy cris...

Their moves are not just meant as a specific response to Russia, but to counter China as well, by developing resources to offset that nation’s dominance in production of solar panels and mining for key materials for batteries. It’s a year of breaking habits and changing very, very clearly.” “We are seeing nothing less than the termination of a successful 50-year partnership on gas between Russia and Europe,” said Michael Stoppard, special adviser and global gas analyst at S&P Global Commodity Insights. Governments pushed to accelerate the deployment of solar and wind – but also to buy coal. Major world economies scrambled to find energy sources – using anything and everything they could find to keep the lights on. The world’s top energy companies beat a hasty retreat from Russia and wrote off tens of billions of dollars in assets.

In face of rising energy costs, many local administrations want to save money on street lighting, swimming pools, care for young people and senior citizens, ...

[Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. The complete or partial closure of swimming pools was on the agenda of 31% of the municipalities, compared to the previous 16%. More than half, 54%, of the cities and municipalities surveyed want to cut services, more than double the previous year's 26%.

In a motion passed at North Devon's November full council meeting, Councillor Graham Lofthouse (Roundswell, Liberal Democrats) put forward the following, which ...

Local schemes would be given new impetus and be able to contribute more renewable energy if local people could buy their electricity directly from local suppliers. If this Bill was passed in Parliament, it would give the energy regulator, OFGEM, a duty to create a Right to Local Supply. In a motion passed at North Devon's November full council meeting, Councillor Graham Lofthouse (Roundswell, Liberal Democrats) put forward the following, which was unanimously agreed upon: "There needs to be a fundamental change in how we generate and consume energy in all aspects of our lives.

However, uncertainty remains as the market looks for clarity from the EU on the reform and expansion of its Emissions Trading System (ETS). Despite not seeing ...

This change is also not due to come into force until 2024, so significant price changes as a result of this are not expected in the next year. Berends added that there have also been reports of a "Hong Kong-Mainland connect in carbon trading". He added that the process of decarbonisation has so much momentum that, despite incentives in the energy market, there was not much switching back to coal, which would have increased demand for carbon allowances and driven up prices. Lack argued, however, that "the emergence of individualised market state approaches is not ideal. As part of this, the state's Air Resources Board will review its annual allowance caps next year to see if these need to be reduced to accelerate emissions reduction. In the meantime, the UK allowance market is continuing to grow as an entity in its own right. Bennett added: "The market's first option contract traded on launch in October, which reflects a growing appetite for more sophisticated risk management products". From a risk perspective, it would definitely make sense to go slowly and keep a close eye on the winter." It has been suggested that as much as €20 billion could be taken from the carbon market's stability reserve to help finance these plans. Despite not seeing as much volatility on pricing, uncertainty also played its part in the North American markets as states decide how to take their carbon markets forward. Vertis earlier this year became part of the STX Group, which also won the award for Best trading company, options in the EU. EU Allowance prices began the year trading at €83 ($87) and reached record high prices of €96 in February.

ABF Ingredients, the speciality ingredient arm of Associated British Foods, secured a 'record' performance in the face of difficult conditions seen ...

“We are seeing that the food industry continues to invest and innovate. “We have a crisis plan for if we have to close our factories because of government requirements [to shut down energy use]. There is a lot of activity in new products and formulations, so I expect volume growth. We are also working to increase inventories to make sure we maintain continuity of supply for our customers.” The supply chain issues have evened out, but we now face challenges linked to the energy crisis in Europe... “We were able to quickly adjust our processing model because we had invested in our pilot plant capabilities,” the ingredient executive revealed pointing to upgrades to pilot facilities in Finland (enzymes) and Germany (yeast extracts). “These are active discussions that are accelerating.” “Some of that will stay [in 2023] but we have to be humble. “The main challenges last year were linked to supply chain disruption, limited availability of inputs, and inflation.” “We were able to identify a formulation that reduced the cost base while also increasing yield.” The geopolitical situation is also expected to have an ongoing influence in the year ahead, with Russia’s invasion of Ukraine contributing to higher input costs for raw materials like grain and canola oil, as well as the mounting energy crisis in Europe. We had some price increases to our customers.

Deductions to universal credit loans and bills will cause destitution as families struggle to keep up with fuel payments, says former prime minister Gordon ...

When it comes to helping with heating, the maximum that any family will receive, no matter its size, is £24 a week emergency help to cover what the government accepts is the £50 a week typical cost of heating a home. And still 800,000 of the poorest children in England [go without](https://www.theguardian.com/business/2022/aug/28/widespread-child-hunger-cost-of-living-crisis-free-meals) free school meals. In April 2021 the government reduced the cap on the proportion of income deducted from 30% to 25%. One hundred years ago, Winston Churchill was moved to talk of the unacceptable contrast between the accumulated excesses of unjustified privilege and “the gaping sorrows of the left-out millions”. Charities, too,are at the mercy of exceptionally high demand and the changing circumstances of donors whose help can be withdrawn as suddenly as it has been given. With the state privatisations of gas, water, electricity and telecoms, the government gave up on responsibility for essential national assets. But now, with what is in effect the privatisation of welfare, our government is giving up on its responsibility to those in greatest need – passing the buck to charities, which cannot cope. With gas and electricity likely to cost, at a minimum, £7 on cold days like today, and with a council tax contribution to be paid on top, they find that they have just £25. The companies have the goods people need, and the charities know the people who need them. But they also need a toiletries and hygiene bank, a clothes bank, a bedding bank, a home furnishings bank, and a baby bank. According to Department of Work and Pensions (DWP) rules, money can be deducted for repayment of advance or emergency loans, and even on behalf of third parties for rent, utilities and service charge payments. The DWP has now become the country’s biggest debt collector, seizing money that should never have had to be paid back, from people who cannot afford to pay anyway.

Creative agency Brave releases a poignant short film raising awareness of the fuel crisis and the important work of the National Energy Action charity.

The film is soundtracked by a sombre, alternative rendition of the holiday classic Baby, It’s Cold Outside. [Tim Keeling](https://sourcecreative.extremereach.com/Creative/PeopleDetail/link?api_id=2554d855-842f-44d4-bce4-d485a082221d) [Kinga Wawrzyniak](https://sourcecreative.extremereach.com/Creative/PeopleDetail/link?api_id=40eee159-6910-4d0c-9b67-32dfb82794fd) [Sam Milburn](https://sourcecreative.extremereach.com/Creative/PeopleDetail/link?api_id=cb598446-524e-44d7-9504-99c22d6cd18f) [Paul Pearson](https://sourcecreative.extremereach.com/Creative/PeopleDetail/link?api_id=9379615d-152a-420e-85c1-d162382070a2) [Brave/London](https://sourcecreative.extremereach.com/Creative/AgencyDetail/link?api_id=5b352672-f71d-46a5-b342-b2133be7775a)