British households could see their energy bills fall nearly 16% by spring as prices continue to ease from crisis levels, bringing relief to homes with stretched budgets.
Government has accepted ‘all’ advice from a recent report aiming to halve the time taken to build new transmission, while boosting efforts to connect new energy projects.
Households are set to learn that their energy bills will rise again from January as hopes for relief from the cost-of-living crisis are put on hold.
Ofgem has announced new measures to speed up grid connections and eject slow-moving developments will come into force before the end of this month.
The agency said he would chair the governing body, the Gas and Electricity Markets Authority (GEMA), subject to confirmation by Parliament.
Ofgem has slashed the price cap on energy bills to £1,923 after wholesale energy prices fell further, it announced on Friday.
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.
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.
Ofgem and National Grid have set out plans to free up to 8GW of grid connection capacity from slow-moving developers, without incurring penalties.
The UK energy regulator Ofgem is warning suppliers they must not use surging profits to pay huge shareholder dividends.
It's hoped the policy will see a greater focus on value and investment - rather than lower costs - for crucial grid connections.
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.
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.
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 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.
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.
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.
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.
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.
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 may be exposed to around £1.9 billion in debt, much of which could be unrecoverable, as households struggle to pay soaring energy bills.
In the drive towards reducing emissions and achieving net zero, decarbonising energy will play a crucial role.
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 (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 adults plan never to turn their heating on this winter, polling suggests, as average bills are set to rocket while the temperature drops.