Energy Pricing
Yesterday I reviewed the key market themes in 2023. In this post I take a look at what we can expect in 2024... The past couple of years have been dominated by concerns over energy prices, particularly gas. However, gas prices have fallen significantly [...]
At the end of each year, I like to look back at the past year and ahead to what the coming 12 months might bring (which I will cover in a separate post tomorrow). In the past, I have focused primarily on the GB [...]
Today Ofgem has launched a couple of new price cap consultations (wholesale costs review and additional debt costs review consultation) which both close on 17 January. The debt costs review in particular has hit the headlines and is widely being reported as a done [...]
Since the appalling attack on Israel by Hamas terrorists on 7 October, oil prices have been volatile. Historically, conflicts in the Middle East have had a major impact on oil prices, from the price shocks of the 1970s to the Iraqi invasion of Kuwait [...]
In my latest article for The Telegraph, I revisit the myth that renewable energy is cheap. Predictably, some people have come back at me with “ah but Lazard says renewables ARE the cheapest form of energy – see their levelised cost analysis”. So let’s [...]
Hot on the heels of widespread annoyance over energy suppliers’ mythical profits, comes a new report from the Centre for Policy Studies saying that the price cap is stifling energy market competition and costing consumers money. In fact, this is just the latest in [...]
Last week Centrica announced its interim results, which saw British Gas profits increase tenfold, setting off predictable outrage from the media and politicians. Journalists have been falling over themselves to criticise the company, and in particular the fact that much of this “windfall” is [...]
The past couple of weeks have seen unusually high levels of gas price volatility across European gas markets. Prices have declined significantly from their highs last August, and the market has coped well with the dramatic reduction in Russian pipeline gas coming into Europe, [...]
There has been a consistent narrative that the cost of building new wind farms is falling, with falling subsidy prices being offered as evidence. I have challenged this narrative in the past, pointing out that evidence from the accounts of windfarms themselves does not [...]
On 25 May, Ofgem announced the new price cap level that will apply from 1 July. The cap level is to fall from £3,280 now to £2,074 for a typical dual fuel household. Of course, consumers currently benefit from the Energy Price Guarantee ("EPG"), [...]