Ofgem sets out 5 year masterplan to green & decarb UK power
Power markets regulator Ofgem today publishes its latest five-year strategy for Britain’s electricity system. ‘Protect, Build, Change, Deliver’ are its watchwords for speeding delivery...
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...
Cornwall: 15 more months of price cap pain
The Israel-Hamas conflict, strikes at an LNG conversion plant in Australia & disruptions to the Finnish Balticonnector are among causes set to keep predicted...
British Gas profits surge tenfold, Centrica reveals
Shareholders at Centrica, owners of British Gas, will benefit by £144 million in dividends, as the UK-focused subsidiary today revealed profits soaring to £751...
Ofgem consults on replacing price cap
Britain’s energy regulator today opened up its long-promised consultation on the future of the retail price cap for domestic billpayers.
Ofgem defends the price cap...
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...
Ofgem lifts price cap 5% to £1,928, blames wholesale market instability
Britain’s energy regulator confirmed market expectations this morning by increasing the dual fuel price cap with effect from January to £1,928 per year for...
Ofgem drops retail price cap by 7% until September: not enough, say campaigners
The retail price cap on domestic energy tariffs will fall by 7% to £1,568 per year, calculated on a putative ‘average’ bill per home’s...
“Devastating” Cornwall view: Price cap “to stay above £3,000 until at least 2024”
Two continuing years of unprecedented consumer misery from fuel bills are predicted in latest research from analysts Cornwall Insight.
The respected energy economists this morning...
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...
Ofgem to consult in November on Price Cap reform
Britain’s energy regulator will consult in November on reform to the Price Cap mechanism regulating energy sales to 15 million UK domestic consumers.
Ofgem wrote...
Kwarteng seeks to calm energy chiefs, as Price Cap’s architect calls for its overhaul
Beleaguered energy secretary Kwasi Kwarteng won the support of Britain’s power bosses today, reassuring them that vulnerable consumers would be continue to be protected,...
Ofgem director Farnish quits over price cap calculation
Beleaguered energy regulator Ofgem faced further pressure this morning, with news that Christine Farnish, a non-executive director sitting on its supervisory board GEMA, has...
MPs eviscerate Ofgem’s failed oversight of 29 supplier collapses
Britain’s energy market regulator was for years asleep at the wheel as it allowed under-capitalised new suppliers unsustainably to break the Big Six’s dominance...
Crisis: Scrapping green levies “saves only £13 a month” says REA, as government consults...
Removing the ‘green levies’ element in gas and electric bills will save average home consumers no more than £153 per year, the Renewable Energy...
Gas crisis: Energy companies float CfD variant as solution
Energy suppliers are asking the government to launch a variant on contracts for difference (CfDs) as a way of spreading the rocketing costs of...
Paying the Bill: Energy figures react to Queen’s Speech
Reaction among energy players and commentators continued today to the Queen’s Speech proposals for energy, including on the sector’s contribution to Britain’s ever-tightening cost...
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...
Crisis latest: Kwarteng stands by price cap, downplays government relief on bills before March
Energy secretary Kwasi Kwarteng today re-stated his commitment to a continuation of the default price cap, urging energy customers and retailers to bide their...
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...