Good morning to you from London, where the big news stories today are all about energy.
The Secretary of State for Energy Security & Net Zero Grant Shapps is in the Commons talking about new measures to “power Britain from Britain” as he’s put it, by relaxing planning laws for clean energy projects and try to create fresh incentives for people and businesses to switch to greener forms of power.
At the same time, UK power giant Drax has had its plans for a new biomass project with carbon capture elements rejected by the government, sending its share price tumbling.
The FTSE 100 as a whole though is up this morning, at fortnight highs. Greetings card company Moonpig said it recorded its largest ever week of sales ahead of Mother’s Day and has reconfirmed full-year revenue guidance of £320mln.
And Oilfield services provider Petrofac and Hitachi Energy have been awarded a multi-year deal by Dutch-German electricity grid operator TenneT worth €13bn. The deal is the biggest in Petrofac’s history and covers offshore platforms and onshore converter stations.
That’s all for now but stay tuned to proactiveinvestors.co.uk for the latest updates. Today’s report was written by Jai Singh and presented by me, Thomas Warner.
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