Scottish Hydro Electric and 2 other power grid firms have been fined by Ofgem. The three companies include two major players: Scottish Hydro-Electric Power Distribution (owned by SSE), Central Networks (owned by E.ON) and a third smaller firm, Electricity North West. The fines are for failure to connect customers to the national energy grid within the compulsory 3 month deadline.
Dash for gas expected in UK
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
BP looking at North Sea asset sale
British Petroleum are thought to be looking at the sale of North Sea assets worth £633 million ($1 billion). The sale is thought to be being considered to help the company ease the financial burdens caused by the Gulf of Mexico oil spill. The spill, a saga which started in mid April of this year, has cost BP billions of … Read More
UK to miss 10pc renewable target
The Department for Energy and Climate Change (DECC) has said the UK is unlikely to hit the 10% energy from renewable resources target this year. The government is under fire following a report from the DECC saying the UK is not on course in its push for energy from renewable resources. The government had previously set a target of 10% … 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
Further winter price changes from big six
British Gas and ScottishPower up prices, while EDF commit to freezing at current rates this winter. In October, when SSE announced a 9.4% price rise, it was expected that other suppliers would follow suit. British Gas has announced a rise of 7% for domestic electricity and gas tariffs, while ScottishPower have just increased an average increase of 8.9% for electricity … 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