UK energy suppliers and consumer-protection groups are urging the regulator to maintain a ban on cheaper tariffs for new customers that was introduced during the energy crisis to help stabilize the market.
Ofgem has confirmed that that it will lower the energy price cap for domestic energy bills by 7% from 1 July to 30 September 2024 compared to the previous quarter.
The Chief Executive of Centrica Plc (LON:CNA) got a bumper pay raise last year while millions of households across the country struggled with energy debt.
Ofgem has raised concerns that net zero costs could disproportionately hit lower income customers as it announced it is to examine how to protect households against future price shocks.
UK Sustainable Investment and Finance Association report finds failure to implement favourable policies could see UK lose out on £115 billion in investment
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.
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 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.
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.