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

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

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

EDF announce smallest price rise of Big Six

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

The french-owned energy giant is only raising prices by an average of 3.9%, less than half that of other major suppliers. The increase will come into force from January 3, and looks like a serious attempt by the firm to actually compete with rivals. The move will affect 2.4 million households, but EDF has warned that green levies must be … Read More