Britain’s energy secretary Miatta Fahnbulleh approved the Jackdaw gasfield after years of delay, drawing mixed reactions as attention turns to her upcoming Rosebank decision. The move follows the departure of Chris Stark, head of the Labour government’s decarbonisation “mission control,” and Ben Golding from the Clean Power 2030 Unit. While the government remains officially committed to its 2030 clean power goal, experts warn current plans fall short. Aurora Energy Research estimates wind and solar will miss targets by 20%, while Cornwall Insight projects 72% low-carbon generation by 2030 — or 90% with imports. The next subsidy auction is critical, but cost concerns may limit ambition. The shift raises questions about whether the UK is moving on from Ed Miliband’s climate-focused era under new PM Andy Burnham.
Gas prices rose 3.5% to €97.64 per MWh amid low European storage and colder weather, intensifying pressure on Chancellor John Healey ahead of his first budget. In other news, US reports allege Russian energy giant Novatek secretly controls a $25bn gas venture, while Chinese wind turbine maker Ming Yang seeks to reassure European investors its data is shielded from Beijing.
Source: Financial Times Companies · Summarized by HeadlinesBriefing