David Blair

The £8m fine imposed on National Grid on Thursday means the UK utility has achieved a dubious distinction.
In 2008, it was the subject of the largest penalty ever exacted by Ofgem, the UK regulator (£41.6m for anti-competitive metering – later reduced to £15m by the Court of Appeal). Today, National Grid added the number two spot, receiving the second-biggest fine in Ofgem’s history. Read more

David Blair

How much does Opec matter? This might appear a strange question to ask of the 12 countries who jointly possess about 80 per cent of the world’s known oil reserves, but the recent volatility of the oil market suggests the club may count for less than you might think.  Read more