Thinktank says decoupling electricity from gas prices has also helped shield Spain from hikes caused by Iran war

Spanish households save €10 a month on electricity bills because of wind turbines and solar panels installed in the last five years, a report has found.

Typical energy bills would be 19% more expensive if electricity costs were still as tightly coupled to gas prices as in 2021, according to Ember, a climate thinktank. It found Spain’s “strategic” expansion of renewables since Russia invaded Ukraine in 2022 has shielded Spanish households from the latest rises in fossil fuel prices caused by the Iran war.

Experts say increased use of crops for fuel is ‘dangerous game’ that could send food price inflation soaring

Demand for biofuels is likely to leap by nearly a third this year, which could send food price inflation soaring further and push the world closer to a global food crisis.

More countries are opting to increase biofuel use as the price of oil has jumped to nearly $100 a barrel after the US-Israeli attacks on Iran and the closure of the strait of Hormuz.

With early tests suggesting the presence of crude oil, the Caribbean island has begun to debate whether it could justify becoming a producer

Jamaica is closer than ever to drilling for oil. Tests on samples from the seabed off the Caribbean island’s south coast earlier this year identified hydrocarbons, which suggest the presence of crude oil below ground.

Jamaica imports all its fuel, which costs about $1.5-2bn (£1.1bn-1.5bn) annually, depending on global oil prices. It is a persistent drag on an economy that generated $4.3bn from tourism, its biggest earner, in 2024.