News
News
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Ofgem busts fake ‘Ofgem’ site scam
Ofgem recently uncovered and shut down a website that was impersonating the energy regulator. The fraudulent site was discovered during Ofgem’s routine monitoring activities and falsely claimed to offer energy bill rebates by requesting direct debit details from unsuspecting consumers. In response to this incident, Ofgem has issued a warning to the public, advising them […]
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Ofgem reviews wholesale energy allowances in price cap
Ofgem has announced a review of wholesale energy costs within the framework of the price cap. The aim of this review is to assess whether the allowances provided to suppliers accurately reflect the actual costs incurred during the period from October 2022 to September 2023. Dan Norton, Deputy Director of Price Protection for Ofgem, notified […]
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Battle of four offshore wind titans
Ofgem has narrowed down the contenders for ownership and operation of up to three offshore wind farm transmission assets in its “most valuable” Offshore Transmission Owner (OFTO) bidding round to date. Joining the race is Gravis Capital Partners, leading a consortium of newcomers, alongside previous bidders EKITD Consortium, Diamond Transmission Partners, and Transmission Capital Partners. […]
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UK Energy Secretary vows accountability for fuel price rip-offs
Grant Shapps has expressed the need for a fair and transparent pricing system for UK motorists, addressing fuel retail bosses to tackle the issue of overcharging drivers. During a roundtable discussion held by Energy Security Secretary Grant Shapps and Minister for Energy Consumers and Affordability, fuel trade associations, supermarkets, and other key retailers were brought […]
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GB energy market achieves record low system price
Energy specialists from EnAppSys have reported that Britain (GB) has recorded its lowest ever System Price in the GB ID Imbalance market, reaching -£185.33/MWh. This indicates a highly balanced supply-demand scenario with minimal need for additional energy injections or withdrawals from the grid to maintain stability. The achievement of this record low price, which was […]
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UK energy companies urge Sunak to prioritise green agenda
Over 100 major UK energy companies have come together to urge the Prime Minister to prioritise investments in green energy. This unified call stems from an economic warning issued by the Office for Budget Responsibility (OBR) on Friday. The OBR’s latest report on fiscal risks highlights that the UK remains one of Europe’s most gas-dependent […]
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EVs found to have 40% higher tyre failure rate than petrol cars
Electric vehicles (EVs) exhibit a 40% higher MoT tyre failure rate in comparison to petrol cars, as indicated by recent analysis. The Institute of the Motor Industry (IMI) attributes this disparity to the greater average weight of EVs relative to other vehicles. Additionally, the study reveals a slightly higher overall MoT failure rate for newer […]
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Shell to divest home energy retail business
Energy giant Shell has announced its decision to divest its home energy retail business in Europe. According to reports, Shell is also exploring various options, including a potential stake sale to external investors, for its global renewable power operations. Bloomberg reported that the company is working closely with advisers to study different possibilities, which may […]
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Small shops fight for “better” energy market regulation
Local convenience stores are demanding improved regulation of the energy market to protect themselves from skyrocketing costs. The Association of Convenience Stores (ACS) has emphasised the urgent need for transparent information on billing, payment options, data transparency, contract terms and termination. The ACS also highlights the importance of expanding the definition of microbusinesses to include […]
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Cable factory go-ahead fuels £17bn UK-Morocco power link
The UK’s first HVDC subsea cable factory in North Ayrshire has been approved by a local authority. The North Ayrshire Council Planning Committee has granted full planning permission for XLCC’s ambitious venture in Hunterston, Scotland. The global demand for high-voltage cables is expected to surge dramatically, with estimates indicating a six-fold increase over the next […]
Quotes
The cheapest kWh of energy is the one you don't use Delvin Lane, Head of Energy 360, British Gas