Kwasi Kwarteng, UK Business and Energy Secretary is reported to have said on 20 September that “My task is to ensure that any energy supplier failures cause the least amount of disruption to consumers”.

Wholesale day-ahead gas prices in the UK are reported to have jumped some 9% on 20 September alone. The rise is as a result of a number of factors including increased demand in Asia, lower supplies of gas from Russia and increase in demand as countries emerge from lockdown restrictions and economies start to pick up once more.

Such rapid and significant price increases typically disproportionately impact smaller suppliers and indeed it is widely anticipated that a number of the smaller suppliers will fall into insolvency over the coming weeks and months. The specific process is unique to the energy industry.

Continue Reading Testing times for the “Supplier of Last Resort” regime as UK gas prices continue to rise

On September 18, 2020, the Council of Ministers of Mozambique published the new Regulation for the Licensing of Infrastructure and Petroleum Operations in Mozambique by means of Decree No. 84/2020 (“RLIPO”). Effective as of the date of its publication, RLIPO replaces the previous regulation on the subject, Ministerial Diploma No. 272/2009. While not significantly different from the previous regulation, RLIPO brings some improvements to the licensing of petroleum infrastructures.

Continue Reading Mozambique: New Regulation for the Licensing of Petroleum Infrastructure and Operations