British Gas owner hints bills could rise for the second time this year Tariffs ‘under review’ as Centrica reports 20% profit fall and 341,000 lost customers. Centrica, the owner of British Gas, has hinted that bills could go up for a second time this year, after reporting a 20% drop in profits at its consumer…
Water firms failed customers during ‘Beast from the East’ Some of the UK’s biggest water companies did not support customers properly during this winter’s Beast from the East snow chaos, causing “significant hardship”, Ofwat has said. The regulator said more than 200,000 customers were left without water for more than four hours and tens…
Failing to switch energy supplier costs millions of UK households £1,500 over past six years Ofgem figures show that more than a third of UK households have remained with the same gas or electricity provider for five years. Failing to switch energy supplier has cost millions of UK households more than £1,500 over the past six years, campaigners have…
How energy prices have risen over the past year Here’s the graph that shows how the big six have raised energy prices in the past year More than three million British Gas customers will see bills rise as a result of a 12.5pc rise in electricity prices imposed by the supplier from 15 September. The…
Ofgem to cut £200m from power network revenues The energy regulator is making good on its threat to toughen up on electricity network operators by cutting £200m from their revenues after a review of their investments. Ofgem has warned network companies that it plans to crack down on the regulated revenue they claim from energy…
UK energy watchdog proposes severe subsidy cut to small generators Ofgem has recommended to the UK government to drastically cut subsidies paid to small generators by as much as 93 per cent, in a move heavily criticised by the sector. Dermot Nolan, chief executive at Ofgem, said the recommendation is motivated by a need to…
Theresa May sets light to energy price cap proposals The Queen’s Speech talks of commitments to price protection rather than energy caps mentioned in the election campaign. The government has scrapped plans to introduce an energy price cap for customers in the Queen’s Speech, which had met a wave of opposition from large power firms.…
John Pettigrew claims switch to public ownership will disrupt transition to cleaner forms of energy Labour’s plan to take the National Grid back into public ownership would harm the UK’s switch to green energy, the grid’s chief executive has said. John Pettigrew said renationalisation was “the last thing the industry needs” as it invests to…
Energy Price Cap Will Not Save Consumers from Rising Bills Whatever form the price cap on standard domestic energy bills announced by the Prime Minister today takes, consumers will have to pay more for their energy in the coming years, energy consultancy Cornwall has predicted. Before inflation, cost increases of £50/ household for policy and…
UK Energy Industry Reacts to Conservative Manifesto The official release of the Conservative Party’s election manifesto has already gathered a variety of reactions from the UK’s energy industry. It outlines a series of proposals for the sector, including making the UK’s energy costs more affordable and competitive, increasing the fairness of the retail market, continuing…