Bloomberg The UK announced a windfall tax on “excess” profits of some electricity generators to help pay for the continuation of a freeze on household energy bills. Renewable, nuclear and biomass generators will see a 45% tax, while an existing levy on oil and gas firms will rise to 35% from 25% as the government seeks to claw back ...

  Bloomberg German Chancellor Olaf Scholz promised the swift implementation of natural gas price subsidies recommended by a government-appointed panel to ease the impact of soaring energy costs. “The cabinet will start implementing the proposals this Wednesday,” Scholz said at a press conference in Berlin. “We don’t want to let anyone alone in this difficult situation.” Germany, Europe’s largest economy, ...

Bloomberg Natural gas can play a transitional role in Africa’s development to a greener economy, the European Union’s climate chief Frans Timmermans said in response to climate activists’ concerns about locking the continent into fossil fuels. While renewable energy is becoming cheaper globally, Timmermans said he understands Africa’s need to monetise its fossil-fuel resources. The EU and member states like ...