Price hike warnings will follow Ofgem review

mattBusiness Electricity, Business Gas, Utilities Market Regulation

Suppliers must now warn customers before raising prices, following Ofgem’s review of the energy industry. Last week Ofgem announced their completion of a review of the energy industry and promised some changes to the way suppliers operate. Following the announcements last week, Ofgem has published a review today requiring domestic energy suppliers to give a 30 day warning before raising … Read More

Budget 2011 introduces new carbon tax

adminBusiness Electricity, Business Gas, Utilities Market Regulation

The Chancellor, George Osborne announced yet another ‘carbon tax’ in yesterday’s budget, dubbed the ‘2011 budget for growth’. This means businesses and consumers can expect higher electricity bills, as carbon-emitting coal and gas-fired plants are taxed £3.2 billion over the next 5 years. Nuclear and renewable companies should see increased profits, as the tax is applied to the oil and … Read More

Ofgem crack down on energy suppliers

mattBusiness Electricity, Business Gas, Utilities Market Regulation

Energy industry regulator Ofgem has told energy firms to simplify their prices to avoid confusing their customers. The Office of Gas and Electricity Markets (Ofgem), the regulator for the energy industry, has told suppliers that their tariff structures are unnecessarily complex, which leave their customers “bamboozled”. The investigation came after suspicions that the big six UK energy suppliers (British Gas, … Read More

E.ON sells Central Networks to US firm

mattBusiness Electricity, Business Gas, Utilities Market Regulation

RWE E.ON has agreed to sell its UK electricity distribution company, Central Networks, to US firm PPL. The German-owned energy giant E.ON is selling Central Networks, the second largest distributor of electricity in the UK, to Pennsylvania Power and Light for £4bn. Central Networks operates an 80,000 mile power grid that delivers electricity to over 5 million customers in the … Read More

Suppliers fined in new Ofgem action

mattBusiness Electricity, Business Gas, Energy Efficiency, Utilities Market Regulation

Scottish Hydro Electric and 2 other power grid firms have been fined by Ofgem. The three companies include two major players: Scottish Hydro-Electric Power Distribution (owned by SSE), Central Networks (owned by E.ON) and a third smaller firm, Electricity North West. The fines are for failure to connect customers to the national energy grid within the compulsory 3 month deadline.

Dash for gas expected in UK

mattBusiness Electricity, Business Gas, Utilities Market Regulation

The Energy and Climate Change Committee has warned of another possible dash for gas in a report published last week. The parliamentary committee has targeted the UK coalition government’s National Policy Statements (NPSs), designed to speed up the planning process for energy projects. The report warns that the NPSs could in fact reduce investment in renewable and low carbon energy … Read More

UK to miss 10pc renewable target

mattBusiness Electricity, Business Gas, Energy Efficiency

The Department for Energy and Climate Change (DECC) has said the UK is unlikely to hit the 10% energy from renewable resources target this year. The government is under fire following a report from the DECC saying the UK is not on course in its push for energy from renewable resources. The government had previously set a target of 10% … Read More

Big six facing Ofgem review

mattBusiness Electricity, Business Gas, Utilities Market Regulation, Wholesale Utilities Markets

Energy industry regulator Ofgem is to launch an enquiry sparked by suppliers’ rising profit margins The big six UK energy suppliers could be faced with the prospect of multi-million pound fines if they are found guilty of misconduct by the office of gas and electricity markets (Ofgem). The enquiry takes into account recent energy price rises by the big six … Read More