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A quarter of customers now buy gas or electricity from suppliers outside the “big six” according to the latest figures from the energy regulator. Ofgem’s second “State of the Energy Market” report found that the six largest suppliers’ market share has fallen to a record low of 75% for gas and 76% for electricity. Combined profits for the big six have fallen for the first time since 2014, dropping by 10% to £900 million. The watchdog’s research also found that the carbon price on fossil fuel-burn...
16 10 2018
News article - 16 October 2018
Philip Hammond has unveiled a review of the way in which the energy, telecommunications and water industries are regulated. The Chancellor has asked the National Infrastructure Commission to carry out the probe. “The UK has a world-class regulatory system, which protects the interests of consumers,” the Treasury said. “But it needs to be fit to respond to the challenges of the future to remain cutting-edge.” Encouraging investment The Treasury added that the review “will ensure they have the abi...
09 10 2018
News article - 9 October 2018
Eleven UK energy companies have been ordered by Ofgem to improve the way they handle complaints. The energy regulator said it had cases open against four companies – First Utility, Ovo Energy, ScottishPower and Utilita – and had asked a further seven to devise improvement plans for handling complaints. Ofgem’s latest complaints handling survey found that 32% of customers are satisfied with how their complaints were dealt with, up from 27% when the previous survey was conducted in 2016. But 57% o...
02 10 2018
News article - 2 October 2018
More than 11 million customers are poised to benefit from Ofgem’s price cap, according to the energy regulator. The watchdog said the average consumer will save £75 a year under its proposals and in total, customers are predicted to save £1 billion. The regulator’s proposals set the price cap at £1,136 per year for a typical dual fuel customer paying by direct debit. Ofgem aims to confirm the price cap in November, ready for it to be introduced at the end of the year. Six-month review The cap wi...
11 09 2018
News article - 11 September 2018
Scottish & Southern Energy Networks (SSEN) has unveiled plans to lay cables capable of carrying 600MW of power from the Western Isles to the Scottish mainland. The grid connection is needed to allow more wind farms to be erected in the Outer Hebrides, which have “some of Scotland’s greatest wind resource”. Under plans submitted to energy regulator Ofgem, SSEN would lay a cable from Arnish on the Isle of Lewis to Dundonnell on the mainland, with underground cables then connecting the link to ...
21 08 2018
News article - 21 August 2018