Energy industry regulator Ofgem has told energy firms to simplify their prices to avoid confusing their customers. The Office of Gas and Electricity Markets (Ofgem), the regulator for the energy industry, has told suppliers that their tariff structures are unnecessarily complex, which leave their customers “bamboozled”. The investigation came after suspicions that the big six UK energy suppliers (British Gas, … Read More
Renewable energy plans to be reviewed
Energy Minister Charles Hendry has spoken out on issues surrounding renewable energy and wind power. The UK Energy minister has spoken about government plans for the nation’s energy mix, with some possible changes to its approach on wind power. Speaking at Westminster Hall last week Hendry stated his support of the offshore wind power and nuclear energy initiatives already put … Read More
Suppliers fined in new Ofgem action
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.
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.
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
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
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