Royal Bank of Scotland and Lloyds Banking Group will announce their 2009 results this week, but analysts predict both are some way from profitability. The two British giants, both of which have been propped up by the Government, are expected to be overshadowed by Barclays' stellar results from last week, which helped drive the stock up almost 20 per cent since the start of the week.

With Britain on course for what could be the coldest winter in 30 years, concerns have moved beyond the lack of road grit and focused on the spectre of energy shortages. But while the industry is by no means complacent, and we are watching the situation closely, the evidence is the UK gas market has proved flexible and responsive.

A number of companies were today given the go-ahead to develop new offshore wind farms, potentially paving the way for a massive expansion in renewable energy around the UK's shores.

National Grid issued its second gas alert in three days today as the UK's freezing weather pushed demand to record levels.

British Gas-owner Centrica was in focus last night as speculators piled in on rumours regarding the possibility of a bid from Gazprom, the Russian energy giant.

Profits are up at British Gas. The energy supplier is set to make £541m this year, massively up from £379m the year before. Its parent company, Centrica, is expected to report a full year operating profit of £1.84bn. That is an outrage at a time when wholesale oil and gas prices are at a three-year low and yet the bills being paid by ordinary householders are staggeringly high.

It was a tale of two banks for the blue chips yesterday as Barclays and HSBC issued updates – but one was far, far better than the other, and had dramatic results on the market.

British Gas's parent company Centrica today announced it will build a new offshore wind farm in UK waters which will provide enough electricity to power around 200,000 homes.

Centrica gained control of Venture Production yesterday after buying a 16.8 per cent stake in its target on the open market, bringing the long-running takeover battle with the North Sea oil and gas company to a close.

Ftse-100 energy giant Centrica is set to win its £1.3bn battle to take over Venture Production, a North Sea oil-and-gas group.

British Gas owner Centrica said its residential profits rose 80 per cent in the first half of the year due to last year's price hikes and a colder than average winter.

Sam Laidlaw, the chief executive at Ftse 100 energy giant Centrica, has vowed that his £1.3bn hostile bid for North Sea oil and gas group Venture Production will stabilise prices for its 10 million households.