Octopus Energy’s tech arm Kraken may float soon as UK pushes for greener energy and reforms. Founded in 2015, it’s a major player in UK renewables.
The conflict in the Middle East has caused oil prices to spike past $90 a barrel, the highest since 2024, driven by threats to supply routes and production halts. Markets fear prolonged disruption will fuel inflation, impact energy costs, and threaten economic stability globally, especially in the UK and Europe.
Cost of living concerns grow as Middle East conflict disrupts global oil markets, raising prices for essentials. Inflation remains at 3%, but household confidence drops, with many dipping into savings. Benefit payments are adjusting for April, with universal credit recipients set for a boost.
The UK has announced the start of work on three small modular reactors with Rolls-Royce, aiming for operation by the mid-2030s. Meanwhile, record solar and wind generation is boosting renewable capacity, reducing reliance on fossil fuels amid global energy market volatility driven by geopolitical tensions.
The UK government is preparing to increase the electricity generator levy and overhaul market rules to reduce reliance on gas prices. These measures aim to shield consumers from volatile energy costs driven by global conflicts and rising renewable capacity, with consultations expected soon.
A pilot in New York City uses plug-in batteries to power window air conditioners during peak demand, aiming to ease grid stress without sacrificing cooling. The program, run by Every Electric with Con Edison, expands to 1,000+ homes this summer and adds to the move toward virtual power plants that coordinate many small energy devices.