Switching energy supplier? You could get £30 compensation for mistakes February 12, 2020 Energy watchdog Ofgem has today announced a new raft of compensation measures to protect consumers from difficulties caused by switching supplier. From 1 May, customers will receive an automatic £30 payment from suppliers if they are switched by mistake, if their switch takes longer than 15 days, or if their final bill does not arrive [...]
Record number of cheap energy deals available for UK households February 5, 2020 UK households now have a far wider choice of cheap energy deals, with 78 tariffs now priced under £1000 a year. According to consumer group Which, the number of these tariffs has exploded since the energy price cap was introduced last January, when there were only 12 available. There are also 25 deals now under [...]
Ofgem publishes new plan for net zero Britain February 3, 2020 Ofgem has today published a new plan to decarbonise the UK’s energy system in order to meet emissions targets by 2050. The “Decarbonisation Action Plan” sets out nine actions that the energy industry must put into practice in order to ensure that the UK’s energy networks can deliver net zero. Central to the plan is [...]
Ovo Energy slapped with £8.9m fine for inaccurate billing January 29, 2020 Ovo Energy has been charged £8.9m by industry regulator Ofgem after inaccurate information on bills led to some customers being charged too much. The challenger firm, which recently became one of the UK’s largest energy suppliers, fell foul of the watchdog after incorrect annual statements were sent to more than 500,000 customers between July 2015 [...]
Energy sector needs to fill 400,000 jobs to reach net zero January 28, 2020 The energy sector will have to recruit 117,000 people in the next decade if the UK is to hit its net zero targets by 2050. According to new research by the National Grid, in total the UK will need to fill 400,000 jobs by 2050 to ensure it makes the transition successfully. The total number [...]
Powering up Britain: How the UK will become carbon neutral by 2050 January 27, 2020 Net zero by 2050. At first blush, it sounds like a code phrase one would hear in the halls of MI6 or in the Ministry of Defence. But as British citizens or residents, we should remember it. In simple terms, it is a declaration by Britain to become carbon neutral in 30 years. This may [...]
Octopus tops energy supplier rankings for second year in a row January 25, 2020 Challenger energy supplier Octopus cemented its hold at the top of consumer group Which?’s annual customer satisfaction survey, as so-called Big Six firms languished down the rankings. The biggest six energy companies – British Gas, Eon, EDF, Npower, Scottish Power and SSE (now part of Ovo) – all finished in the lower third of the [...]
Record number of customers switch energy supplier in 2019 January 22, 2020 A record number of consumers switched household energy supplier in 2019, with almost 6.4m switches over the course of the year. As the UK market caters to roughly 30m households, that means one in every five customers changed supplier in the last 12 months. On average, there were 530,000 switches a month, with April seeing [...]
Energy services firm Sureserve enjoys rising profit as demand increases in core markets January 21, 2020 Sureserve enjoyed a rise in core profits of more than one-quarter last year, as demand grew in its two core compliance and energy services markets. The Aim-listed company maintains and installs boilers, and makes sure homes are energy efficient among other services Profit excluding exceptional items rose 26 per cent to £8.3m in the 12 [...]
Chinese power firm Sdic delays London listing on market conditions fears December 4, 2019 Leading Chinese power generation firm Sdic Power today announced it would delay listing 10 per cent of its shares as global depositary receipts on the London Stock Exchange (LSE) due to “market conditions.” In a statement, the company said it “believes this is a prudent decision and is in the best interests of its existing [...]