Retail Market
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. [...]
Last week I wrote about the pressure UK businesses and public sector organisations are facing in relation to their energy supply agreements with Gazprom Energy and Gazprom Marketing & Trading (“GMT”). Some organisations such as Centrica have announced they are terminating their agreements with [...]
Russia’s full-scale invasion of Ukraine on 24 February sent shock waves around the world. The response from many governments has been the imposition of sanctions on Russian businesses, particularly those with links to the Kremlin. In addition to this, many businesses have chosen to [...]
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 [...]
A year ago I wrote a post about all the words we used in 2020, and it’s interesting how many of these were forgotten in 2021. Of course, covid was still a key theme of 2021, but it didn’t quite dominate our lives the [...]
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 [...]
In recent months there have been increasing calls for the introduction of prudential regulation in the energy markets, in response to the large number of suppliers that has failed this year. Supplier failures are a cause for concern because, unlike in many other industries [...]
Retail market pressures continue with the news that Ofgem has confirmed this year’s record Renewables Obligation (“RO”) mutualisation of £218 million, and Elexon has confirmed the proposed record Credit Assessment Price level of £305 /MWh. There is also bad news for Ofgem as Citizens [...]
Today I was invited to speak at this month's meeting of the Parliamentary Group for Energy Studies on the subject of the current energy crisis, and what should be done about it. Here is my presentation, setting out the regulatory mistakes that resulted in [...]
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 [...]