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

Ofgem announces TPI Code of Practice

adminBusiness Electricity, Business Gas, Utilities Market Regulation

Energy consultants and brokers are to be regulated with a new Code of Practice, enforced by the energy regulator later this year. As part of the ongoing Retail Market Review, Ofgem is placing a license obligation on suppliers to only deal with Third-party intermediaries (TPIs) that are accredited to an industry-governed code of practice. The regulator was granted new powers … Read More

British Gas defends large profit margins

adminBusiness Gas, Utilities Market Regulation

Amid comments from the Energy Secretary Ed Davey, the energy giant owned by Centrica has hit back, claiming it “does more than any other organisation to secure gas and power for British consumers”. The company was responding to a letter written by Mr Davey to regulators yesterday, in which he suggested the possibility of British Gas being “broken up” due … Read More

Data centres get Climate Change Agreement

adminBusiness Electricity, Energy Efficiency, International, Utilities Market Regulation

It is the first industry that does not manufacture physical products to get a CCA, meaning exemption from the Climate Change Levy. Climate Change Agreements (CCAs) allow the 50 most energy intensive industries in the UK partial exemption from the Climate Change Levy, in return for meeting energy saving targets. Currently there are around 50 industries that have CCAs in … Read More

Big Six lose 150,000 customers

adminBusiness Electricity, Business Gas

Thousands have switched away from the big six energy companies due to recent price rises. The BBC has reported that domestic customers are moving to smaller suppliers in large numbers. It estimates that 150,000 households have switched to smaller energy companies in recent weeks, even though smaller companies still only account for 3% of the market.