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
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
Energy complaints reach all-time high
The number of complaints dealt with by the energy ombudsman in the first six months of this year was more than the total for the whole of 2013. It was revealed that serious complaints about energy companies have soared, more than doubling in the first half of 2014 compared to the same period last year. In total there were 22,671 … Read More
British Gas to pay £1 million for mis-selling
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
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
E.ON fined record amount for mis-selling
The energy giant has been handed a £12m fine after an investigation by the industry regulator found it guilty of misleading customers over a sustained period of time. Energy industry regulator Ofgem has handed down a record fine of £12m to E.ON for what it called “extensive poor sales practices” over a period of three-and-a-half years between June 2010 and … Read More
BBC survey: energy consumers confused
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
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
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
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