Retail Market
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 [...]
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 [...]