Showing posts with label Ofgem. Show all posts
Showing posts with label Ofgem. Show all posts

Thursday, July 9, 2015

Tory 'blue crap' means UK is falling behind in global switch to clean energy

The government says that it wants a sustainable, secure and affordable energy system. Unfortunately, week-by-week since the general election, and now with the budget, it has made statements or policy changes that take us further away from that goal, and put us increasingly out of step with the rest of the world.

Monday, June 29, 2015

Britain's big six energy firms face moment of truth

Ed Miliband’s pledge in 2013 to freeze energy bills and “reset” the market may feel like ancient history, but next month the big six power suppliers will face a renewed test of their public reputation.

Sunday, October 12, 2014

Big Six energy companies asked by Ofgem to reveal costs and profits

Ofgem, the energy watchdog, is launching a renewed transparency drive over the finances of the big six energy suppliers amid further concerns of profiteering.

Monday, September 15, 2014

Power plant construction programme 'may prove expensive and unnecessary'

Britain risks locking itself into an expensive and unnecessary programme of power plant construction under flawed new policies being pursued by the government, a key committee of MPs has warned.

Saturday, August 23, 2014

EDF to pay £3m in compensation after Ofgem inquiry

EDF Energy has become the latest of the big six energy suppliers to feel the heat of the energy regulator by paying out £3m to vulnerable customers after breaching complaints handling rules.

Tuesday, August 12, 2014

Energy industry 'over-regulated', say former regulators

Five former energy regulators have suggested that too much regulation may have hindered competition among energy suppliers, maintaining high prices.

Wednesday, August 6, 2014

Energy price riggers to face jail under new proposals

Anyone found guilty of rigging wholesale gas and electricity prices faces up to two years in jail, under new proposals by the government. Energy Secretary Ed Davey wants it to be a criminal offence to artificially fix energy prices.

Tuesday, August 5, 2014

Energy probe should look at gas market too, warns MP

The forthcoming competition inquiry into the UK's energy companies should also investigate the wholesale gas market, a senior MP has warned.

Tuesday, June 17, 2014

Energy firms given three-day switching deadline

Consumers will be able to switch energy suppliers in just three days by the end of the year under radical new switching rules unveiled by Ofgem today.

Friday, April 11, 2014

British Gas must pay £5.6m for blocking firms from switching

British Gas has been ordered to pay £5.6m in compensation and fines for blocking businesses from switching suppliers and failing to tell others their contracts were ending, Ofgem said.

Saturday, March 1, 2014

Energy firms told to return £400m from closed accounts

The "big six" energy firms have been told to hand back more than £400m owed to customers. Credit left in customer accounts when people and businesses move or switch suppliers has accumulated over the last six years, Ofgem said.

Sunday, January 5, 2014

ScottishPower to cut energy bills by 3.3pc in wake of government green levy deal

Energy giant ScottishPower is preparing to cut household bills by 3.3pc, becoming the fourth major supplier to pass on savings from the Government’s deal to cut green levies, The Telegraph has learnt.

Thursday, December 26, 2013

Hinkley Point C nuclear subsidy plan queried by European commission

The European commission has started an investigation into UK plans to subsidise the construction and operation of Hinkley Point C nuclear power station in Somerset, in a challenge to the government's plans to overhaul Britain's creaking energy infrastructure.

Tuesday, November 26, 2013

Energy firms' profit from customers has risen 77% in a year, says Ofgem

The big six energy firms face further pressure over household bills after the industry regulator revealed that profits per customer climbed 77% last year to £53.

Friday, October 25, 2013

Energy policy failing at European level, says expert

An attempt to fix a "totally collapsed" energy policy in Britain is doomed to failure without measures to restructure the market at European level, according to a leading energy consultant.

Sunday, April 14, 2013

Big six energy firms accused of 'cold-blooded profiteering'

The big six energy suppliers have been accused of "cold-blooded profiteering" after official figures showed they had more than doubled their retail profit margins over the last 18 months and were now earning an average of £95 profit per household on dual-fuel bills.

Saturday, November 24, 2012

Ofgem 'failed to act' on gas price-fixing warning

The energy regulator, Ofgem, failed to implement its own consultants' recommendation a year ago to tighten up the way energy companies report trading activities – and admits it may now have to revisit the issue.

Monday, September 24, 2012

'Switch and save' option for energy customers

Tens of thousands of struggling households who owe money to their energy supplier will be freed up to switch to cheaper deals as part of a raft of measures announced on Sunday.

Tuesday, July 5, 2011

Energy companies face investigation over 27pc gap in wholesale price

Forensic accountants hired by Ofgem will scrutinise the wholesale fuel prices paid by the Big Six energy companies, as it emerged there was a 27pc difference in how much suppliers paid for electricity and 15pc in gas last year.

Energy companies regularly use rising wholesale prices as a reason why they raise energy bills for customers – often in quick succession.