It’s not good news for consumers with energy bills set to rise due to failing renewable energy schemes. Under the previous coalition government, consumers and businesses were encouraged to produce renewable energy and guaranteed a subsidy for doing so. The subsidies were paid for by a “levy” on household energy bills, which was meant to […]
New energy contract rules for microbusinesses
Good news from Ofgem as they’ve released new rulings to ensure that energy contract renewals will finally get easier for microbusinesses. See the full factsheet here. Long have we been baffled by Ofgem’s confusing definitions of microbusinesses and the different rules they abide by. Just to clarify, your company is a micro business if it: […]
British Gas announce 5% cut on gas prices
It seems that the government’s call for cheaper gas prices hasn’t fallen on deaf ears. British Gas has announced it will cut its domestic gas prices by up to 5%. This will come into force towards the end of August and should reduce consumers bills by an average of £35 a year. British Gas managing […]
Potential winter blackouts as electricity supplies get tighter
Fears that blackouts could be a possibility this winter have spurred on National Grid to buy more power from generators and invest in demand-side response as electricity capacity margins are the lowest they’ve been since 2007 after several power station closures. National Grid director of market operation Cordi O’Hara explains: “It is clear that electricity […]
Paying too much for your energy? Don’t blame suppliers
Suppliers have been in the firing line again with the news that the Big Six have creamed off an extra £1bn every year from customers. But can you blame them? If you’d paid more for your holiday than the chap in the room next door, would you be banging on the travel agents door demanding […]
Iranian oil soon to be back on the market
It looks like Iranian oil will soon be back on the market. The EU banned the import, purchase and transport of Iranian crude oil and natural gas as well as stopping European companies from insuring Iranian oil shipments in 2012. This embargo was a bid to stop Iran’s nuclear programme. But fresh from a long […]
Complaints about energy suppliers rocket
Energy complaints to the Ombudsman Services have more than doubled since last year. It said the rise in complaints “follows a turbulent year for the energy industry, with mounting consumer dissatisfaction, market investigations and Ofgem imposed sanctions.” Not good news for the supplier’s reputations but worse still, it’s hitting their pockets with average compensation sitting […]
CMA to publish investigation in full
The Competition and Markets Authority (CMA) has overturned its decision to hold back the results of its investigation into Ofgem’s network price controls in a bid to keep the public informed of all factors affecting energy prices. The CMA quickly backtracked after a warning from former Energy and Climate Change Committee chair Tim Yeo with […]
Gas distribution charges to decrease over next six years
Great news for consumers as Ofgem has predicted a 5.5% drop in gas distribution charges by 2021 bringing average payments down from £141 to £133. Ofgem reported that gas distribution companies had so far “outperformed” their allowances under RIIO-GD1, by carrying out services for lower than the price control allowed. They will therefore be in […]
New energy bill to be implemented
Energy Secretary Amber Rudd has taken her first steps towards reforming energy legislation by announcing plans in the House of Lords. The Energy Bill will set out the plans for onshore wind farms, new schemes and local council involvement. Rudd has given local communities the power to veto planning propositions to ensure residents have “the […]