Energy Pricing
On Monday, Ofgem issued yet another set of consultations into the retail price cap. The key proposals are to review the price cap every three months rather than the current six months, and make a small reduction in the notice given to suppliers of [...]
Gas prices have been continuing on their volatile journey as they respond to the global imbalances resulting from the pandemic, as well as the developments around the war in Ukraine. As the chart shows, UK gas prices have been extremely variable in recent months. [...]
Last week the a House of Commons Committee heard from the heads of some of the country’s leading energy suppliers of their concerns for increased fuel poverty next winter as the energy crisis deepens, amid calls for the introduction of a social energy tariff. [...]
Over the past few months we have been inundated with claims from interested parties that more renewables are the (only) solution to the energy crisis. They also claim that renewable energy is cheap, deflationary, and will deliver lower bills to consumers. They tend to [...]
As the illegal war in the Ukraine continues, there is a growing discussion about the need to move away from a reliance on Russian commodities in the energy market, which presents new challenges to energy policy. The timing could hardly be worse, coming as [...]
This morning Ofgem has announced a record increase in the level of the default tariff price cap, from £1,277 now to £ 1,971 from 1 April, an increase of 54%. About 80% of this rise is a result of increases to wholesale gas and [...]
Last week the Government authorised the procurement volumes for the Capacity Market auctions to be held in February. While Kwasi Kwarteng accepted National Grid ESO’s recommendation for the T-4 auction to be held on 22 February, he decided to authorise a T-1 volume 650 [...]
I didn’t really go out on a limb in my last post when I predicted that energy markets would continue to make headlines this year – the last few days have seen a lot of people wondering what on earth is happening with gas [...]
Several people have reached out to me today asking me to comment on Ofgem’s announcement about the SOLR cost recovery, so I’m writing this quick blog on the subject. Back in October, Ofgem published a letter setting out its plans to make temporary changes [...]
There has been a slew of energy market news in the past couple of days, but none of it is good. Yesterday, Zog Energy became the 29th energy supplier to fail this year. The company had 11,700 domestic customers and has entered the Supplier [...]