Former oil exec picked for Ofgem chair
The agency said he would chair the governing body, the Gas and Electricity Markets Authority (GEMA), subject to confirmation by Parliament.
Ofgem
Ofgem cuts energy price cap to £1,923
Ofgem has slashed the price cap on energy bills to £1,923 after wholesale energy prices fell further, it announced on Friday.
UK households look to lock in energy prices as crisis recedes
Fixed energy tariffs are making a comeback in the UK, allowing consumers to lock in power and gas rates now that prices have eased from last year’s record levels.
UK energy regulator seeks ways to make home usage more flexible
The UK’s energy regulator is looking into how to get households to use less when demand peaks or there’s little wind power, as part of efforts to decarbonise the grid.
Plans to offer grid ‘amnesty’ for up to 8GW of projects
Ofgem and National Grid have set out plans to free up to 8GW of grid connection capacity from slow-moving developers, without incurring penalties.
UK’s Ofgem warns energy suppliers to hold off big dividends
The UK energy regulator Ofgem is warning suppliers they must not use surging profits to pay huge shareholder dividends.
Ofgem handed net-zero mandate – What will change?
It's hoped the policy will see a greater focus on value and investment - rather than lower costs - for crucial grid connections.
SSE fined £9.8m over ‘excessive’ grid payments to Foyers
Ofgem has issued a fine of nearly £10 million to SSE Generation after an investigation found it solicited ‘excessive’ payments for reducing output from its Foyers hydro scheme.
ESO takes urgent measures to speed up grid connections
Slow developers will be ejected or moved to the back of the queue as sweeping new reforms are proposed to speed up the connection of renewables projects to the grid.
Energy bills predicted to fall from July by nearly £450
Ofgem is expected to lower household energy bills to an average of £2,053 a year from July to reflect tumbling wholesale prices, according to analysts.
Ofgem lowers energy price cap but bills still expected to rise for households
Ofgem is lowering its energy price cap - the amount suppliers are able to charge - from the current £4,279 per year to £3,280 for the average household, effective from April 1, it has announced.
UK will speed up grid connections to boost clean power capacity
The UK’s grid operator will reform the way power generators apply to connect to the system to make it easier and faster to ramp up renewable capacity.
Law and the energy agenda in 2023
2022 proved to be a significant year for the energy sector, with rising costs across the globe for consumers and energy companies alike, on top of the international push towards net zero.
Drax fined £6.1m for charging extreme energy prices
UK power firm Drax Group agreed to pay a £6.1 million ($7.5 million) fine for breaching its license, after charging the grid operator excessive prices to reduce its generation.
Western Isles Interconnector: A big (positive) change from Ofgem
It is not the snappiest of titles but Ofgem’s Decisions on the new Accelerated Strategic Transmission Investment (ASTI) strategy may come to be seen as a landmark document in the evolution of Britain’s energy industry and the Scottish economy.
Gas plunge means cash for Sunak, but no relief yet for consumers
UK government subsidies for household energy bills are expected to plunge to a sliver of their current levels with a slump in wholesale prices.
Energy suppliers exposed to nearly £2bn debt as households struggle with bills
Energy suppliers may be exposed to around £1.9 billion in debt, much of which could be unrecoverable, as households struggle to pay soaring energy bills.
Net Zero Nudge 02: decarbonised energy
In the drive towards reducing emissions and achieving net zero, decarbonising energy will play a crucial role.
UK energy regulator warns of ‘significant risk’ of gas shortage
The UK faces a “significant risk” of gas shortages this winter and could enter an emergency that would see power stations switched off, according to regulator Ofgem.
Equinor applies to extend Norfolk offshore wind projects
Equinor (OSLO:EQNR) has lodged planning applications to expand its wind farms off the coast of Norfolk, in plans that would new capacity to the Sheringham Shoal and Dudgeon schemes.
Nearly one in four ‘won’t turn on heating this winter’ as energy bills soar
Nearly one in four adults plan never to turn their heating on this winter, polling suggests, as average bills are set to rocket while the temperature drops.
Cost of UK winter triples as energy price cap leaps
UK households will pay almost triple the price to heat their homes this winter compared with a year ago, a jarring increase for millions of people already struggling to afford everyday essentials.
Energy Price Cap: Expert warns of rationing risk as bills to surge beyond £3,500
As the energy price cap surges, a leading petroeconomist has painted a gloomy picture as the UK faces up to the prospect of winter without adequate energy supplies.
UK bills will hit nearly £3,600 from October, experts say in final prediction
Families face a grim winter as experts predict the cap on energy bills will hit close to £3,600 per year from October - before rising again next year.
45 million in UK to be plunged into fuel poverty in winter
An estimated 45 million people in the UK will be forced into fuel poverty and struggle to pay energy bills this winter, new research has found.