LONDON: Centrica plc has announced a £1.3 billion investment for a 15% equity stake in Sizewell C, a new nuclear power station in Suffolk expected to power six million UK homes. The acquisition positions Centrica alongside HM Government, La Caisse, EDF, and Amber Infrastructure Group, marking one of the largest clean energy investments in a…
LONDON: Energy regulator Ofgem has announced a 7% reduction of the energy price cap for the period covering July to September 2025. A recent fall in wholesale prices is the main driver of the overall reduction, accounting for around 90% of the fall. The remainder is primarily due to changes to the operating cost allowances…
LONDON: Ten energy suppliers have refunded and compensated more than 34,000 customers after Ofgem uncovered a technical overcharging error that resulted in excess charges beyond the regulated price cap. The suppliers paid a total of £7 million—£5.6 million in refunds and £1.4 million in goodwill payments—after a compliance review by the energy regulator. The issue…
LONDON:L Ofgem has approved historic reforms to fast-track clean power plugging into Britain’s electricity grid – with the new system launched by the end of May. The new connections regime abolishes the broken ‘first-come, first-served’ system. This meant unviable, stalled or speculative ‘zombie’ projects blocked hundreds of wind, solar and energy storage developments from connecting, with…
LONDON: The energy price cap is set to increase by 6.4% from April, the UK’s energy regulator Ofgem announced on Tuesday. This adjustment will be in effect for the period covering April to June 2025. According to Ofgem, the main driver behind the rise is a recent spike in wholesale prices, which account for approximately…
LONDON: The energy regulator Ofgem announced on Friday, November 22, that the energy price cap will increase by 1.2% for the period from January to March 2025. This change means that the maximum rate per unit and standing charge that can be billed to customers will rise by £21 per year for an average household,…
LONDON: Ofgem has announced that rules preventing energy suppliers from offering lower prices exclusively to new customers will remain in place to ensure all households can access the best available deals. The regulator has decided to keep the Ban on Acquisition-only Tariffs (BAT) – which ensures all customers have access to the best deals –…
LONDON: Energy regulator Ofgem has today (Friday 24 May, 2024) confirmed the energy price cap for the third quarter of 2024. The price cap, which sets a maximum rate per unit that can be charged to customers for their energy use, will fall by 7% from 1 July to 30 September 2024, compared to the…
LONDON: Energy regulator Ofgem has today (Tuesday 14 May, 2024) published a statutory consultation proposing the removal of the ban on acquisition-only tariffs (BAT) on 1 October, 2024. The BAT was introduced in April 2022 to protect consumers during the energy crisis, and was always designed to be a time-limited measure. As the market continues…
LONDON: Energy regulator Ofgem has today (Friday 23 February, 2024) announced a significant reduction of the energy price cap for the second quarter of 2024. The price cap, which sets a maximum rate per unit that can be charged to customers for their energy use, will fall by 12.3% on the previous quarter from 1…
LONDON, UK: The energy regulator Ofgem has announced a new price cap level for the period of April to June 2023. The new cap will be set at £3,280 for a dual fuel household paying by direct debit based on typical consumption. This is a reduction of almost £1,000 from the current level, of £4,279…
LONDON: Ofgem is today powering the electric vehicle revolution, with motorway service areas and key trunk road locations across the country set to get the cabling they need to install 1,800 new ultra-rapid charge points, tripling the current network. A further 1,750 charge points will be supported in towns and cities. As drivers make the…