Rees-Mogg dodges Parliament, puts numbers on 6-month business retail energy cap

New energy secretary Jacob Rees-Mogg announced this morning that businesses will have a six-month cap, their first ever, to curb rocketing energy prices. A ceiling...

Elexon to administer Truss’s price guarantee payments to suppliers

Energy trading platform Elexon has been appointed to administer payments to suppliers, authorised under the Truss administration's Energy Price Guarantee (EPG). Elexon manages the Balancing...

Energy security bill delayed, minister confirms

Britain’s first energy security bill for nearly ten years is undergoing a Whitehall re-think, a government minister has gone on record to confirm. Now in...

Conservatives find new ‘Cost-Plus-Revenue Limit’ work-around for “windfall tax”

The Truss government this afternoon tabled its promised new bill to write into law relief offered to homes and businesses from rocketing energy tariffs. Energy...

Mass capping of home energy bills at average £2,500 to end in April, Chancellor...

A review next April of recently deposed Chancellor Kwasi Kwarteng’s £90 billion support for UK homes faced with drastically higher energy bills was signalled...

Deeper windfall grab “likely on renewable gencos’ revenues”, as businesses benefit from bill relief

Chancellor Jeremy Hunt & premier Rishi Sunak are reported to be eyeing deeper first windfall taxes on renewable generators, as they attempt to plug...

Yoking renewables earnings into Hunt’s windfall tax “disproportionate to clean generators’ profits”, says Cornwall

Any move by Chancellor Jeremy Hunt to extend to renewable power retailers the government’s windfall tax on excess energy profits would be unfair on...

Energy industry slates Chancellor

Generators, retailers and advocates for British energy lined up this morning to voice  disquiet and quiet dismay over chancellor Jeremy Hunt’s tax raises on...

Ofgem singles out 17 suppliers over slack customer support

Energy regulator Ofgem today named and shamed 17 retailers for shortcomings and slackness in their handling of customers on the brink of ducking energy...

Ofgem lifts price cap to £4,279; but government’s EPG shields customers

Energy regulator Ofgem this morning raised to £4,279 the annual price cap for power and gas retailed to households.  The new cap comes into...

Hunt ponders how to extend support for industries’ power bills beyond March

Chancellor Jeremy Hunt has reportedly asked Treasury officials to explore ways of prolonging into April & beyond the government’s protection of firms from their...

Green generator ‘lawyers up’, goes gunning for Hunt’s ‘smash & grab’ EGL

Energy ministry D-BEIS and Chancellor Jeremy Hunt face a legal threat this morning from a £2 billion investor and builder of 1.5GWp of wind...

Energy bills to spark “humanitarian crisis”, say top NHS officials

This winter’s promised soaring energy costs will inflict worsening health for bill payers and their families, provoking a humanitarian crisis, NHS leaders warned today. Speaking...

One in four small businesses “will suffer”, says FSB, as Govt cuts energy bill...

Representatives of British business reacted with emotions ranging from despair to resignation today, in response to the government's reduction in protection from rocketing energy...

“Millions could switch supplier” after July, as homeowners chase deals: Cornwall Insight

Analysts believe uncounted droves of British home power accounts stand ready to flit between suppliers this summer, as falling energy wholesale prices coupled with...

Households “will shoulder burden” as Government saves £2.5 billion from EPG, says Cornwall

British homes will bear the increased cost of the Government’s upcoming raise in its Energy Price Guarantee, leading analyst firm Cornwall Insight has warned. Last...

Chancellor abolishes price premium for 4m prepayment meters, retains EPG till July

Jeremy Hunt bowed to back-bench pressure today in his Spring Budget, extending until July the government’s Energy Price Guarantee for domestic consumers, at a...

Cornwall predicts price cap of £2,053 from July, “no return this decade” to pre-Ukraine...

Energy economics analysts Cornwall Insight expect the household price cap operating from 2023’s third quarter will be the equivalent of £2,053 per year. Ofgem’s...

Ofgem cuts price cap from July, saves households average £426 per year

The retail price cap for domestic electricity & gas will be cut to £2,074 per year starting in July, regulator Ofgem confirmed this morning. The...

Net Zero transition “cheaper in long run” than gas dependency, OBR advises Chancellor

Pressing ahead to reach Net Zero by 2050 will most likely cost Britain less than remaining dependent on gas for power generation and energy...