As more and more Third Party Intermediaries (TPI) enter the energy market, the competition is becoming ever tougher. Worryingly, the techniques used by some brokers are often underhand in order to gain business leaving some of the more transparent TPIs in the dust. We give you the low down on the different business structures and techniques […]
3-step guide to comparing business energy contracts
If you are financially responsible for a business, you will be constantly looking for ways to cut business overheads and maximise your budget. With energy costs making up a large chunk of business spend, it pays to ensure you’re spending as little as possible on the essentials. There’s a gargantuan 68% difference in price between […]
£45 million failure for Ofgem energy rules
Another failure for Ofgem as their electricity market reforms fell flat costing energy companies around £45 million. Ofgem implemented new rules to ensure that the largest energy companies are only allowed to trade at pre-determined times during the day. The idea was that it would increase trading and competition allowing smaller players to flourish yet […]
Gas demand to rise 31%. Energy prices surge
As the temperature drops across Western Europe, LDC gas demand is set to rise by 31% over the next week. After a few months of warmer-than-average weather, heating demand has been stilted yet the Met Office advises that colder temperatures are closing in with a surge in demand set to raise gas market prices. “Colder […]
A record-breaking 39 business energy suppliers on the market
With the government and consumers taking a renewed interest in the energy industry, new entrants have boosted the number of business energy suppliers up to 39 – a new record. With seven new companies entering the market, the competition in both the gas and electricity markets has ramped up. Axpo, Yu Energy, Economy Energy, D-Energi, […]
The Big Six lose more customers to independent suppliers
Independent suppliers are gaining more momentum in the energy market as they poach more customers away from the Big Six. Their collective market share now stands at 11.2%, which is higher than three of the major suppliers. Hardly surprising though as the Big Six have been through a torrent of bad press after the initial […]
The CMA energy remedy debate
After the Competition and Markets Authority (CMA) report on the energy market and its issues was published in July, the investigation has entered a period of consultation upon its proposed remedies. Energy suppliers have been falling over themselves to comment on the remedies after the initial findings shed them in a fairly positive light. The […]
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: […]
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 […]
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 […]