News
News
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Ofgem fines SSE £9.7m for generation licence breach
Ofgem has today formally announced its decision to impose a penalty of £9.78 million on SSE Generation Limited (SSE) for a breach of its Generation Licence. The penalty is linked to SSE receiving excessive payments from the Electricity System Operator (ESO) during ‘transmission constraint’ periods. These constraints arise when the transmission system lacks sufficient capacity […]
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“UK supermarkets double fuel margins amid Ukraine war”
UK supermarkets have experienced a “significant” increase in their margins on petrol and diesel since the beginning of the war in Ukraine, according to recent data from the RAC. Before the conflict, the major supermarkets, dominating the country’s fuel retailing, were making a margin of just under 5p (4.7p) per litre on fuel, with 3.7p […]
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British Gas introduces cheaper fixed energy deal than price cap for some customers
British Gas has introduced a new fixed-rate tariff that could prove to be cheaper than the current price cap for some customers. In London, households consuming a typical amount of gas and electricity could be paying £2,049 for a one-year fix from British Gas, according to Go Compare. The energy price cap sets a maximum […]
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UK delays onshore wind ban review
The government has officially announced that the review of the onshore wind ban will not be published until the autumn. Michael Gove, the Secretary of State for Levelling Up, Housing and Communities, and Minister for Intergovernmental Relations, confirmed this decision in a recent statement. Mr Gove explained that concerns have been raised regarding the lack […]
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Birmingham tops UK’s energy demand for EV charging
Birmingham, with its estimated count of 1.1 million vehicles, has emerged as the leading city in the UK for energy demand related to electric vehicle (EV) charging. That’s according to a recent report by RECHARGE UK, the EV arm of the Association for Renewable Energy and Clean Technology (REA). By 2030, EVs are projected to […]
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Collapsed EV company backed by London Mayor sold out of administration
The collapsed electric vehicle (EV) company, previously backed by London Mayor Sadiq Khan, successfully sells its assets out of administration. Facing financial difficulties, Breathe EV entered administration last month, raising concerns about potential losses to the Mayor’s green fund. However, in a deal overseen by Begbies Traynor, the company’s assets have been acquired by Otto […]
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Outfox The Market fined £1.8m for failure to submit financial data
Outfox The Market has been fined £1.8 million for its failure to submit essential financial data and “other necessary information” to Ofgem. To ensure the stability of the energy market and prepare for potential price fluctuations, the energy regulator mandates that suppliers provide comprehensive financial information, demonstrating their capacity to withstand future shocks in pricing. […]
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UK battery cell maker faces collapse due to funding shortfall
AMTE Power, the only homegrown battery cell maker in Britain, is facing a severe financial crisis that has raised concerns within the country’s battery industry. With imminent collapse looming, the company urgently requires a fresh infusion of funds to stay afloat. The crisis stems from AMTE Power‘s struggle to secure sufficient financing. The company specialises […]
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UK energy bills expected to remain high in 2024
Experts have warned that UK households will continue to bear the burden of soaring energy prices, contributing to the ongoing cost of living crisis. The latest report by Investec Bank Plc projects that the average household energy bill will remain at £1,900 per year throughout the third quarter of 2024. In a note, analyst Martin Young […]
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Octopus launches ‘UK’s smartest’ tariff for solar panels and batteries
Octopus Energy has introduced its latest smart tariff, the ‘Intelligent Octopus Flux’ (IOF), aimed at helping households maximise the use of their solar panels and batteries while contributing to grid stability. The tariff offers a flat rate for both importing and exporting electricity, with a 21-hour off-peak window priced 10% below the standard variable tariff, […]
Quotes
The cheapest kWh of energy is the one you don't use Delvin Lane, Head of Energy 360, British Gas