- According to the Irish Examiner, China’s electric carmakers are expanding in Europe to blunt the impact of tariffs meant to weaken their price advantage over the region’s ailing legacy manufacturers, however considering excise duties, Chinese electric cars could become thousands of euros more expensive for consumers, or else unprofitable. https://www.irishexaminer.com/business/companies/arid-41445250.html
- The Irish Sun outlines an opinion piece from Howard Cox, founder of FairFuelUK, who states that the Labour Party utilise drivers as means of revenue, but should not be implementing the fuel excise duty and should instead be advocating for fair pricing. The article states that Chancellor Rachel Reeves has unveiled what she says is a “￡20billion black hole” in the public finances left by the Tories. https://www.thesun.ie/motors/13498860/rachel-reeves-labour-fuel-tax-howard-cox/
- RTé has outlined an informative article detailing the countries that rely on Russian oil, including import figures and case by case statistics. The report stated that Hungary buys about 70% of its oil supply from Russia and approximately half of that volume comes from Lukoil, via the Druzhba pipeline that traverses Ukraine. https://www.rte.ie/news/2024/0728/1462123-russia-oil-sanctions/
- According to Extra.ie, energy credits and double social welfare payments will all be ‘front-loaded’ and paid to voters this year in a Budget 2025 pre-election ‘bonanza’. Cabinet members said there will be a repeat of the €450 electricity credit that the Coalition gave to all customers in Budget 2024, however instead of being paid in three €150 instalments between December and March, it will be paid out by December this year. https://extra.ie/2024/07/29/news/irish-news/budget-credits-social-welfare
- GB News reports that major automotive brands in the UK are ditching plans to switch to electric cars, despite a Government mandate banning the sale of new petrol and diesel vehicles. Initially, from 2035 the UK aims to ban drivers from buying new internal combustion engine cars and vans after former Prime Minister Rishi Sunak rolled back several net zero pledges, however under the new Labour Government, that deadline is expected to be moved back to the original date of 2030. https://www.gbnews.com/lifestyle/cars/petrol-diesel-sales-2030-electric-vehicles
- According to the London Evening Standard, Britain’s energy watchdog has announced moves to help drive flexible electricity use as the UK increasingly switches to wind and solar power under aims to make savings of up to around ￡70 billion by 2050. Ofgem said it has hired Elexon to act as market facilitator for local energy flexibility. https://www.standard.co.uk/business/business-news/energy-watchdog-outlines-steps-to-drive-flexible-power-use-b1173383.html
- Reported by the BBC, Aberdeen may be the new home of GB Energy’s headquarters, as Scotland remains the proclaimed capital for oil and gas. However, the article states that ‘Edinburgh might look more attractive for both its recruitment pool, and for its ability to attract financial talent from outside Scotland’. https://www.bbc.com/news/articles/crgkp8r24zyo
- Detailed by EuroNews, European Commission competition officials have given the green light to €1.2 billion in government support for Spain’s fledgling renewable hydrogen industry, in a further boost to the country’s ambition of becoming a major producer of the climate friendly fuel. https://www.euronews.com/green/2024/07/26/spain-in-pole-position-for-green-hydrogen-race-as-eu-approves-massive-state-aid
