Ministers move to task Ofgem for greater Net Zero support
Energy regulators must now explicitly consider now their rulings help the government reach Britain’s Net Zero goals, according to new guidance from ministers.
A government...
SSE fined £9.78 m for overcharging Grid during transmission constraint
Ofgem has imposed a £9.78 m fine on electricity generator SSE for overcharging National Grid ESO during periods of transmission constraint two years ago.
The...
Suppliers’ finances stress-tested from January, as Ofgem reacts to 2021’s slaughter
Energy retailers surviving this year’s cull of 26 suppliers to date must from January prove their financial strength to Ofgem's scrutineers, under today’s toughening...
Hurried market reform risks spooked investors and dearer power, Cornwall Insight warns
Too hasty reform of Britain’s £ multi-billion electricity market could deter investors, leading to higher bills, energy analysts Cornwall Insight have advised.
Whitehall is committed...
300 MPs back local sales of co-ops’ power, want to bid ‘Do Zvidanya’ to...
Campaigners seeking rights for Britain’s 400-plus power co-operatives to sell clean electricity locally this week hailed a milestone on their road to victory.
Power for...
CRISIS: SoLR expenses for failed suppliers adds £34 in DUoS charges to every bill,...
Beleaguered energy regulator Ofgem today faces fresh evidence of the costs its oversight of failed power suppliers has inflicted on consumers, in consequence of...
CRISIS: Every quarter given: Ofgem doubles frequency of price cap review
Ofgem today committed itself to three-monthly reviews of the default retail price cap, doubling their half-yearly frequency. The move will take effect after the...
Sunak reacts to Ofgem’s “once in 30-year event”, as cap on energy bills rockets...
The new default price cap on home energy bills will rise 54% in April to £ 1,971, regulator Ofgem announced this morning. The...
BREAKING: Ofgem to announce new Price Cap tomorrow, Thursday 3 February at 11:00am
Ofgem this morning confirmed it will release tomorrow at 11:00am its new calculation of the default Price Cap on retail tariffs for domestic energy.
Industry...
Cornwall Insight: Overhaul market design to boost sensitivities between wholesale and retail
Root and branch reform of UK wholesale and retail energy markets is needed to avoid repeats of impending market failures threatening to pitch millions...
Ofgem cushions SoLRs’ costs with £1.8 billion, as generators seek £20 billion loan to...
Britain’s power and gas retailers have reportedly convinced D-BEIS in principle to draw up a loan scheme, granting them leeway to fight a potential...
Ofgem warns Balancing Mechanism players
Rocketing costs of last-minute interventions needed to balance Britain’s power grid have prompted an Ofgem warning that it stands ready to tighten market rules...
Cornwall un-sunny on price cap: “Expect 46% rise for next summer, & winter 2022...
Analysts at respected consultants Cornwall Insight are forecasting the default price cap for home energy tariffs covering summer 2022 will shoot up to approximately...
Kwarteng to ‘refresh’ Energy Retail Market Strategy
Hard on the heels of Ofgem’s financial stress tests taking effect next month on UK retailers, the government has said it will review its...
WPD fined £14.9 million for neglecting protection of vulnerable customers
Britain’s biggest regional net operator Western Power Distribution has been fined £14.9 million for neglecting its duties in protecting vulnerable customers on its Priority...
Ofgem’s ’decade of lax oversight’ leaves consumers on hook for billions, Citizens Advice charges
Britain's energy regulator failed to act against unfit energy suppliers for nearly a decade, leaving the market vulnerable to this year’s spike in wholesale...
Regulator probes transcos’ and DNOs’ Storm Arwen response
Ofgem today announced a review of transmission and distribution networks’ responses to Storm Arwen, as thousands of homes awaited reconnection after seven days of...
Two DNOs pledge £10 Billion for RIIO-ED2 upgrades, as Ofgem fines Western Link duo...
Two distributed network operators (DNOs) including Britain’s biggest WPD today passed to Ofgem final plans totalling more than £ 10 billion for network upgrades...
Supply crisis: Brearley hints at tougher rules on retailers’ financial strength
Reforms to avoid a repeat of this year’s cull of two dozen energy suppliers must require licencees to prove greater financial resilience, Ofgem’s chief...
Bulb’s collapse pushes energy crisis’ UK victims beyond 3.5 million
Today’s collapse of renewables-only energy supplier Bulb with 1.7 million customers – praised by prime minister Johnson as recently as July as “ leading...