Here are the top business stories making the headlines across the North-east and nationally today.
How rises in energy bills will hit the North and North-east
Millions of households face a "hammer blow" increase to energy bills from April as regulator Ofgem lifted the price cap by more than 50%.
The Press and Journal reports that analysis from the Scottish Liberal Democrats on the impact of price cap changes, based on figures available from the Scottish Government, makes for eye-watering reading.
Scotland will see at least a £990 average increase in bills compared with April 2021, but it will be worse in the Highlands and islands.
The average increase in the Western Isles is £1,562, with £1,528 in Shetland and £1,524 in the Highlands.
Other areas, mostly with large rural communities, also face big increases. In Aberdeenshire, the average increase is likely to be £1,406, while Moray is expected to see £1,273.
Chancellor Rishi Sunak has confirmed the Treasury will step in to help low-income families in Scotland and across Britain to deal with the rising costs.
Westminster will directly give more funding to Holyrood so the SNP Government can subsidise bills and reduce costs for homeowners. The money is worth around £290million as a consequence of council tax rebates in England.
BP invests in venture converting vegetable oil into fuel
The son of one of Margaret Thatcher's closest political allies has struck a deal with BP.
William Tebbit has sold a multimillion-pound stake in his business that converts vegetable oil into fuel for lorries to the FTSE 100 energy giant, says the Telegraph.
His father, Lord Tebbit, presided over the phased privatisation of BP as trade and industry secretary under Mrs Thatcher.
BP has bought a 30% shareholding in Green Biofuels in a deal that is estimated to value the business at £30million.
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Call for new motoring tax
The UK needs to create a new motoring tax to plug the revenue gap as drivers switch to electric cars, MPs have said.
The Government should tax motorists based on miles travelled as the use of petrol and diesel vehicles decreases, the Transport Select Committee said.
If no action is taken this year, the UK faces a £35billion "black hole" in its finances, they said.
The BBC says sales of new petrol and diesel cars and vans will be banned in the UK from 2030 and sales of electric cars are already soaring.
Taken together, vehicle excise duty - better known as "road tax" - and fuel duty that motorists pay at the pump, raise around £35billion a year, but neither tax is levied on pure electric vehicles.
The committee warned there is likely to be no revenue from existing tax sources by 2040.