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...
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...
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...
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...
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...
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...
More solar “clearly in Treasury’s interest”, say lobbyists urging price reforms
Liz Truss’ new steps to curb soaring energy prices mean expanding Britain’s installed base of solar generation makes more sense than ever, trade body...
Bills crisis: Truss starts split of power prices from gas costs, protects oil extractors,...
The first act of Liz Truss’ government opened this morning, with the prime minister announcing her much-trailed package to ease the crisis of rocketing...
Energy ministers silent and absent, as Ofgem raises price cap to £3,549 from October
As widely predicted three months ago, regulator Ofgem today confirmed a 80% rise in the increasingly discredited retail price ‘cap’, with average annual household...
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...
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...
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...
Price cap torture “set to worsen”: Cornwall ups forecasts for Q1 next year to...
The excruciating pain already showing itself in Britain’s homes from now quarterly rises in Ofgem’s price cap on home energy, is set to increase,...
Quarterly price caps from Ofgem open door to more frequent tariff changes
The retail price cap supposedly limiting bills for an estimated 24 million domestic customers will be revised quarterly, and no longer every six months,...
“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...
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...
Twelve suppliers run direct debits on ‘weak or inadequate’ rules, regulator finds
Ofgem has found failings in how major licenced energy suppliers charge customers via their direct debits. It has ordered five of the worst -...
Regulator clamps down on crashed suppliers’ direct debits & swollen credit balances
Ofgem today introduced tougher financial requirements on home energy suppliers, designed to stave off a repeat of last year’s collapse of 28 firms licenced...
Crisis: Price cap “hits £2,800 in October”, says Brearley, as Sunak mulls stretching windfall...
Domestic retail tariffs capped under Ofgem’s tweaked regime look set to rocket to £2,800 per year only five months from now, the regulator’s boss...
“A disaster, selling consumers down the river”; money-saver Lewis lambasts Price Cap tweak
Ofgem this morning confirmed its much flagged intention to move from half-yearly to three-monthly reviews of domestic energy tariffs, in a revamp of the...