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

Further winter price changes from big six

mattBusiness Electricity, Business Gas, Wholesale Utilities Markets

British Gas and ScottishPower up prices, while EDF commit to freezing at current rates this winter. In October, when SSE announced a 9.4% price rise, it was expected that other suppliers would follow suit. British Gas has announced a rise of 7% for domestic electricity and gas tariffs, while ScottishPower have just increased an average increase of 8.9% for electricity … Read More

Profits rise 98% at British Gas

mattBusiness Electricity, Business Gas

British Gas profits show a 98% rise in first half of 2010 Centrica have announced that British Gas made operating profits of £585 million for the first half of the year. Centrica, parent company of British Gas also released their profit increase of 65% to £1.56 billion Being Britain’s largest domestic energy supplier, supplying power to half of UK households … Read More

BT in Smart Meter Plan

mattBusiness Electricity, Business Gas, Business Telecoms

British Telecom launches a bid to be included in the Smart Meter roll-out The UK Government have set a target of rolling out smart meters – energy meters which will enable suppliers to take meter readings via a wireless network – to every home in the UK by 2020. This is a plan that is estimated to cost over £7 … Read More