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...
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 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...
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...
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...
“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...
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...
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...
Ofgem’s reform broom: “sharp practice” curbs on business supply, capital thresholds for home retailers
Britain’s energy regulator today introduced its widest-ever raft of reforms in heat and power supply, aiming to lift standards of customer service, curbing sharp...