The market price of UK gas has plummeted to costs seen back in 2010 as pressure is mounting to reduce energy bills. Wholesale gas averaged 47.1 pence per therm, the lowest quarterly average since Q1 2010. The falling oil price down to US fracking and reduced demand in Asia is seen to be a contributing […]
Renewables no longer exempt from CCL announces Osborne
The summer budget has been released and while many businesses will be rejoicing at lower corporation taxes and a fuel duty price freeze, they won’t be as happy to see that renewable energy is no longer exempt from Climate Change Levies (CCL). Check out the official government document here. Suppliers will now have to pay […]
Big Six have been overcharging for years say CMA
The Big Six are in the firing line today as the Competition and Markets Authority released their initial results of a year-long examination of the UK energy market. It transpires that UK households have collectively overpaid by £1.2bn a year for their energy due to average domestic prices being offered by the ‘big six’ energy […]
CMA to deliver verdict on energy market investigation
The Competition and Markets Authority will announce the provisional findings of its energy market investigation today. The full and final report however is not expected until the end of the year. Initial findings show that despite popular opinion, the big 6 will not be dismantled. It was claimed that the larger firms were in collusion to […]
Demand-side response is the future say National Grid
With demand-side response (DSR) being cast aside in recent months with the introduction of other energy market reforms and policies, it comes as a surprise that it’s now back in the limelight. Demand side response is the scheme where customers are incentivized financially to lower or shift their electricity use at peak times. This helps […]
Energy efficiency: Apathy or lack of understanding?
Latest results from the Energy Savings Trust (EST) reveal that consumers are unwilling to switch or save on energy because they can’t understand their energy bills. Surprisingly under 35s are the least au fait with energy terminology and pricing as 60% admit they didn’t know that energy was measured in Kilowatt hours. Over 55s pip […]
New businesses to test the market with pop-up shops
With the UK economy finally picking up speed again, entrepreneurs are beginning to surface with a host of business ideas up their sleeves. But rather than dive straight in, a third of new start-ups are testing their products on the market with ‘pop-up’ shops. A pop-up shop being any retail outlet that is temporary, from […]
Renewables to become top source of electricity in 2030
Coal will no longer be the world’s top source of electricity by 2030 if global pledges are kept to support renewable energy generation. Promises have been made as part of a global climate change deal to limit carbon emissions and reduce the use of fossil fuels. Schemes have been introduced to stop global temperatures warming […]
Independent energy suppliers becoming more popular
Consumers are paving the way to a competitive energy market with customers leaving the Big Six in favour of independent suppliers. These smaller companies now hold 12.6 per cent of the dual fuel energy market after rapid growth in the last six months while the Big Six’s market share is slowly dwindling month on month. […]
Big Six breathe a sigh of relief over CMA findings
The Competition and Markets Authority (CMA) were tasked with looking into the structure of the Big Six energy suppliers amid fears they had a monopoly over the energy market. Calls were being made to potentially separate retail and business arms in each of the companies as it was felt they may have been taking advantage […]