Energy probe should also look at gas market

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

Tim Yeo, the chairman of the energy select committee says the upcoming investigation should be extended to cover the gas sector as well. The Competition & Markets Authority is currently investigating into possible tacit co-ordination between the big six energy suppliers in relation to their price changes. The last 3 years have seen all of the major suppliers raise prices … Read More

Ofgem increases storm compensation

adminBusiness Electricity, Utilities Market Regulation

The amounts to be paid to end users following the disruption during the Christmas storm has been increased by £3.3 million, now totalling £8 million. The energy regulator Ofgem has secured an additional £3.3 million for consumers after an investigation into how SSE Energy Networks and UK Power Networks handled the disruption caused by last winter’s storms. In addition, Ofgem … Read More

British Gas to pay £1 million for mis-selling

adminBusiness Electricity, Business Gas, Utilities Market Regulation

The largest energy supplier in the UK has made £1 million available to compensate customers it ripped off during sales schemes at the Westfield shopping centre and Sainsbury’s stores. “Looking after your world”, or perhaps not. British Gas has had to put aside £1 million to compensate customers it mislead. Ofgem said it welcomed the package which is made up … Read More

Scottish Power fined £750k for price variations

adminBusiness Electricity, Business Gas, Utilities Market Regulation

Ofgem has fined the energy giant for charging an unfair amount to many of its customers, simply because they paid using a different method. Energy company Scottish Power is the latest of the Big Six to be fined by Ofgem, following an investigation by the industry regulator. Utility companies can charge different amounts to customers depending on their payment method, … Read More

BBC survey: energy consumers confused

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

A survey commissioned by the BBC has found that almost half of domestic energy users don’t know how their bill is calculated. Although Ofgem has simplified tariff structures in recent years, and limited the number of tariffs suppliers can offer, many still find their energy bills confusing, the survey found. The survey discovered: 51% of consumers have not switched energy … Read More

British Gas unfairly stopped business transfers

adminBusiness Electricity, Business Gas, Utilities Market Regulation

The UK’s largest energy supplier will be penalised for not letting customers know their contracts were coming to an end, and even preventing them from switching to alternative suppliers. The energy regulator Ofgem has handed down a massive fine to the Centrica-owned British Gas of £5.6m, after concluding that it had wrongly objected to businesses switching suppliers due to computer … Read More

Big Six to face competition enquiry

adminBusiness Electricity, Business Gas, Utilities Market Regulation

The industry regulator Ofgem has called for an inquiry into “possible tacit co-ordination” of price rises by the Big Six. The Competition & Markets Authority (CMA) is being called on by Ofgem to perform the investigation over the next 18 months amid fears that the energy market is not competitive, with price variations between suppliers at a minimum. Suppliers have … Read More

SSE freezes domestic prices until 2016

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

The freeze will affect 5 million UK households, and will be financed by £100m of cost-cutting measures, including 500 job losses. The UK’s second-largest electricity and gas supplier, Scottish & Southern Energy, has announced the domestic energy sector’s longest ever ‘unconditional price promise’ at 26 months, having last raised its prices in November 2013. The company says the move will … Read More