Retail Market
Today National Gris ESO has officially launched the Demand Flexibility Service it announced in its Winter Outlook after Ofgem approved the scheme. It will run from today until 31 March 2023 allowing both businesses and households to be paid for reducing demand in times [...]
Over the weekend, the Government announced that failed supplier Bulb which entered Special Administration back in November last year, is to be acquired by rival Octopus Energy. Although the sale process was described as “competitive” it is widely believed that there only ever was [...]
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 [...]
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 [...]
With the growing energy crisis across Europe there are calls for more action on demand reduction, and in particular to reduce energy wasted through heat losses. Research by the Energy and Climate Intelligence Unit (“ECIU”) suggests that poorly insulated homes will see energy costs [...]
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 [...]
Following on from my previous post describing the BEIS Select Committee’s recommendations into improved governance at Ofgem, this post examines the specific market reforms to the retail energy market proposed by the Committee. In particular the Committee is calling for a social energy tariff [...]
This week, the House of Commons Business, Energy and Industrial Strategy Select Committee published its report on its inquiry Energy pricing and the future of the Energy Market. This wide-ranging and damning report sets out not only the failures of the regulator, but also [...]
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 [...]