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
E.ON raises domestic prices
German owned supplier E.ON UK has raised its domestic energy tariffs. The new price tariffs are expected to affect around 4 million people, and will come into effect from 4 February. RWE E.ON announced that its domestic customers will see a 9% increase in electricity prices, and a 3% rise in gas prices.
UK firms waste £1.6 billion on energy
Large UK businesses waste an annual amount of energy costing at least £1.6 billion, The Carbon Trust said on Monday. A report published on Monday by The Carbon Trust Advisory said the £1.6 billion total was due to large businesses neglecting energy efficiency measures. The government-run Carbon Trust Advisory released the statement after analysing 1000 firms’ energy efficiency investments over … Read More
Big six facing Ofgem review
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
EDF’s UK Distribution network taken over
A Hong Kong consortium has announced the takeover of EDF’s UK distribution network for £5.7 billion The completion of the purchase was announced on 30 October. The Hong Kong consortium is comprised of Cheung Kong Infrastructure Holdings (CKI) and Hongkong Electric Holdings, and is fronted by Hong Kong’s richest man, Li Ka-shing. Both CKI and HK Electric hold a 40% … Read More
Gas prices to rise this winter
Scottish and Southern Energy has announced a 9.4% increase in household gas prices. The second largest supplier in the UK, SSE has cited a 25% increase in wholesale gas prices as the reason for the increase. SSE’s announcement comes just a month before the increase in VAT to 20%, with its new higher prices to come in to effect on … Read More
Rising energy bills fund green Britain
Ofgem say energy bills may rise by 100% over the next decade in order for Britain to reach its green targets. The cost of upgrading the UK’s energy infrastructure is expected to be covered by customers’ rising energy bills. Ofgem have said that a sum of £32 billion is required over the next 10 years in order to support the … Read More
Ofgem to probe four of the big six
Energy regulator Ofgem launching investigation into mis-selling of contracts to customers RWE Npower, Scottish and Southern Energy, Scottish Power and EDF Energy are all to be put under the microscope of energy industry regulator Ofgem. The probe will determine whether these four companies are complying with obligations that were brought in by Ofgem last October regarding the mis-selling of energy … Read More
Thousands of businesses face CRC scheme fines
Companies that fail to register in time could be hit with an instant £5,000 fine The deadline to register for the government’s new CRC Energy Efficiency Scheme is approaching fast, but over 3,000 of the largest UK businesses have still not yet registered, and could face fines of up to £45,000. As detailed on our CRC Energy Efficiency Scheme page, … Read More
Ofgem warns suppliers over prices
Industry regulator has again inquired into why suppliers continue to increase energy bills despite falling wholesale energy costs. Ofgem has announced concerns that energy suppliers are making too much money from their customers, with reports suggesting that they are making £85 profit per customer. This is the highest profit level the energy suppliers have made in 5 years, according to … Read More