EVOL: Super regulator, wind bailouts and Tullow’s turn

The AGCC has proposed a new regulator to oversee the energy industry, safe from political interference. Ryan takes us through the pros and cons of the plan, although a comparison to the Bank of England falls slightly on deaf ears.

The German government stepped in this week to help tide Siemens Energy over, which has been dragged down by some of its wind unit’s woes. For now, it seems the price of keeping supply chains running is 15 billion euros in loans and guarantees.

Tullow has managed some deft financing this week, bringing in Glencore to provide a $400mn facility, even while warning that production will not hit expectations. Despite missing its targets, there are some signs that Tullow’s execs are righting the ship ahead of the debt cliff edge in 2025-26. 

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