News
News
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Ofgem to extend ban on acquisition-only tariffs
Ofgem has announced its intention to extend the Ban on Acquisition-Only Tariffs (BAT) but is planning its removal within the next year due to doubts about its effectiveness and potential costs to consumers. Introduced as a temporary measure in April 2022 to stabilise the energy market amidst high and volatile gas prices, the BAT was […]
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Concerns remain despite energy price cap drop
StepChange Debt Charity has emphasised the ongoing need for support as households grapple with escalating energy debt, despite the imminent decrease in the energy price cap. Despite the cap’s reduction to £1,690 annually from April, the charity underscores the unprecedented £2.9 billion energy debt and calls for targeted write-offs to ease the burden on struggling […]
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Energy suppliers slam Ofgem’s tariff decision
Energy suppliers have responded to Ofgem’s decision to extend the ban on acquisition tariffs. Rachel Fletcher, Director of Economics and Regulation at Octopus Energy, supports the extension but urges for a permanent ban to encourage genuine competition and innovation. Ms Flecher said: “It’s good to see Ofgem extend the ban on teaser tariffs, but it […]
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UK allocates £3.5m for heat network upgrades
Heat networks in England and Wales will receive £3.5 million through Round 4 of the government’s Heat Network Efficiency Scheme (HNES). This funding aims to enhance existing networks across various sectors, benefitting approximately 5,700 residents. HNES seeks to optimise inefficient heat networks, ensuring comfort and resilience, particularly for low income residents. The scheme also contributes […]
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Track your energy use to save money on your energy bills
Once you’ve implemented at least some of these business energy-saving initiatives, you’ll want to make sure they are working (i.e., reducing your energy usage and saving you money). So, do you simply refer to your monthly or quarterly energy bill/statement? Well, you can, but you’ll be missing out on some valuable insights. What you ideally […]
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“Price cap limits market deals for billpayers”
Nearly half of billpayers find that the energy price cap has led to fewer opportunities to secure better energy deals, according to new research conducted by KPMG in the UK. The study, based on a survey of 1,700 billpayers conducted by YouGov in February 2024, highlights widespread awareness of the price cap among consumers, with […]
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Experts raise April price cap forecast by £21
Cornwall Insight has adjusted its forecast for the April price cap, anticipating a rise of £21 to reach £1,656 annually for a standard dual fuel household. This modification is attributed to updated data concerning the wholesale cost component, particularly focusing on the Contracts for Difference (CfD) allowance. The CfD allowance calculations draw from forecasts provided […]
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The banking sector needs to embrace climate language, says banking expert
The way we transact in the global markets is fundamentally shifting. This is what Heather Buchanan, Co-founder and CEO of Bankers of Net Zero (B4NZ) told us in this week’s Net Hero Podcast. ‘If banks have committed to decarbonising their finance emissions by 2050. This means that they’re on the hook for understanding and decarbonising […]
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Electricity smart meter installations increase 30% in January
In January 2024, the UK’s electricity smart meter rollout saw a significant uptick, with installations soaring by 30% compared to the previous month, reaching a total of 221,000 installations. This surge reflects a 21% increase from the same period last year, according to the report published by ElectraLink. Analysts note that the increase in installations […]
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E.ON and Tru Energy cleared for forced prepayment meter installations
Two energy suppliers, E.ON and Tru Energy, have been given the green light by Ofgem to proceed with involuntary installations of prepayment meters (PPMs). This decision comes after the companies met the energy regulator’s stringent criteria for such installations. The update to the list of authorised suppliers has been made available on Ofgem’s website, ensuring […]
Quotes
The cheapest kWh of energy is the one you don't use Delvin Lane, Head of Energy 360, British Gas