Sanctions – Weapons of Mass Disruption For the energy markets As the US hits Russia with sanctions, former sanction laden Iran rides to the rescue of European energy supplies. A curious situation but nevertheless one that shows the truly globalised and connected nature of the energy markets and the absolute reliance nations have on one […]
Utilyx and the TPI Market Debate
Utilyx has the TPI Market Licked Utilyx, the London based energy TPI (Third Party Intermediary) owned by building services company MITIE have weighed into the TPI debate with some forceful opinions. Utilyx who claim to manage the energy supply for 10.5% of the total volume consumed by large (I&C) businesses in the UK has apparently […]
Moody’s Downgrades Energy Companies
Moody Moves in the UK Energy Market Moody’s the credit ratings agency pronounced a sombre mood around the UK energy markets as they downgraded SSE’s credit outlook and sounded a note of caution over Centrica, owners of British Gas Business. Moody’s cited “challenging market conditions” as both of the remaining British owned Big 6 energy […]
Ofgem Supply Market Indicator Report
Prognosis: Energy Costs are Rising Last week, Ofgem released its latest Supply Market Indicator report. In it they reported that in the decade to the end of 2013: The average bill for a standard meter had grown by 135% in nominal terms; However, actual energy consumption had decreased, 20% for gas and 10% for electricity […]
Energy Comes Bottom in Trust Survey
2014 Edelman Trust Barometer Trust energy to be at the bottom of the trust survey 2014 marked the 14th year that Edelman, the world’s largest PR agency, had run their “annual exploration of trust”. In total they surveyed 33,000 people over 27 world markets to establish the ongoing levels of trust in business and government. […]
Business Energy Competition Increasing
Non-domestic competition “on the way up” according to Energy UK According to Energy UK, the trade body that represents many of the UK’s largest energy suppliers, competition in the non-domestic energy sector is “on the way up”. Energy UK proudly stated: “Nearly 30 companies are actively working to supply gas and electricity to the energy business […]
Auto Enrolment Pensions
What it Means for your Business The Facts About UK Pensions Over the next three years EVERY business in the UK will be OBLIGED to enroll each of their employees in a pension scheme. It may sound like we’ve been here before but this is a significant change to the previous, more casual pension arrangements, and […]
Government Back Offshore Wind not Biomass
Drax, and Double Drax Last week the government announced their backing for a series of renewable energy generation projects that they hoped would form the backbone of a new energy front. In line with the policy of the onshore wind farm sceptic Tory administration, the schemes backed included: 5 offshore wind farms and 3 biomass […]
Missing Trader Fraud Hits Energy Markets
The energy markets once again abound to allegations of fraud. The HMRC have launched an investigation into a shortfall in VAT receipts caused by energy trading companies being set up in order to exploit rules that exempt EU member states from paying VAT. These bogus energy companies are alleged to have collected VAT from traders […]
Ofgem Energy Shopper Campaign
Ofgem Introduces Itself to Customers As part of their commitment to engage with customers under the Retail Market Review, Ofgem, the energy regulator has launched a “Be an energy shopper” campaign. Ofgem have been vociferous proponents for many years that the energy market, and competition specifically, is working. However the results of the retail market […]