Energy Pricing
On Monday, the new Chancellor, Jeremy Hunt, shocked the energy market by potentially limiting the domestic Energy Price Guarantee (“EPG”) to just six months, rather than the two years initially promised only last month. Of course, the Government is in utter disarray, and who [...]
The Government has updated the maximum discount levels available to businesses through the Energy Bill Relief Scheme this winter. When the scheme was initially announced on 21 September, the expected maximum discount values were £405 /MWh for electricity and £115 /MWh for gas, and [...]
This morning the Government has announced the measures it is putting in place to support businesses with the high cost of energy (more detail is here). This follows the Energy Price Guarantee provided to domestic consumers on 8 September and applies to non-domestic energy [...]
Today the new Prime Minister has announced the long-awaited support for rising energy bills. A new Energy Price Guarantee is being introduced which supersedes the price cap and will fix average energy costs for households at £2,500 for 2 years. This is in addition [...]
With the largely expected news that Liz Truss would become the new Prime Minister of the United Kingdom, speculation is growing about the support that will be offered to consumers ahead of the increase in the price cap that is due to come into [...]
Over the past few days I have been invited to comment in the mainstream press about the current energy crisis, both in terms of security of supply and high costs. These two legs of the trilemma now dominate the news as people rightly worry [...]
On Monday 18 July, National Grid ESO issued two Capacity Market Notices, the first at for 7pm which was cancelled after about half an hour, and the second for 8pm which was cancelled with fewer than 10 mins to go before the start of the [...]
There has been a lot of noise recently about the prospect of a move to some form of location-based pricing in the GB electricity market. National Grid ESO is strongly in favour, seeing nodal pricing alongside a return to centralised dispatch as the best [...]
Ofgem has recently launched a consultation into new measures to improve financial resilience within the energy sector, specifically aimed at gas and electricity suppliers. This came after half of the suppliers in the market failed last year, and highly critical reports by consultancy Oxera [...]
One night last week I had a dream that hydro-power isn’t generated by water, but by a mouse called Lucy which is getting tired, with dire consequences for the market. The dream made more sense than the tangle which is known as network charging [...]