Cost of Energy

SSE to pay £1m for sending inaccurate statements

SSE to pay £1m for sending inaccurate statements

Big Six energy supplier SSE has been ordered by regulators to pay out £1 million after being found to have issued over a million misleading statements to pre-payment meter customers. The Ofgem investigation found that SSE had sent out 1.15 million inaccurate statements to some of its most vulnerable customers […]

SSE to increase over 2 million energy bills by £76 per year

SSE to increase over 2 million energy bills by £76 per year

Over two million SSE customers will see a hike in their electricity and gas bills as the Big Six firm announce an average increase of 6.7% in its bills, which equates to £76 per year for the typical dual fuel consumer. “Sustained increases in wholesale and policy costs” were to […]

SSE profits fall prior to “year of major transition”

SSE profits fall prior to “year of major transition”

Annual profits have dropped at SSE during a year that presented “a number of complex challenges to manage”, including looming pressure from the UK government to cap standard variable tariffs and its plans to merge with its rival Big Six supplier Npower. Legislation for an energy price cap on standard […]

Ofgem launches investigation into the National Grid

Ofgem launches investigation into the National Grid

UK energy regulator Ofgem has begun an investigation into the National Grid Electricity Transmission’s (NGET) demand forecasting for Britain’s electricity market. According to a statement, the investigation will look into whether “NGET breached rules relating to its duty to operate the system in an economic and efficient manner”. The regulator […]

Centrica questioned by shareholders

Centrica questioned by shareholders

Centrica’s board of directors faced a grilling from its shareholders at its recent annual meeting over the company’s poor performance and resulting decline in stock price. Over the course of four years, shareholders have seen the value of their holdings lose half their value as British Gas has been hit […]

SSE and Npower merger could increase energy bills

SSE and Npower merger could increase energy bills

The Competition and Markets Authority (CMA) has warned that the proposed merger between Npower and SSE has the potential to lead to higher energy bills and that the two Big Six firms must provide “undertakings” to address the authority’s concerns. The competition watchdog said that if “undertakings” were not given […]

Energy price caps gain MP’s approval

Energy price caps gain MP’s approval

Legislation to end the “abuse” against energy consumers has cleared the House of Commons, taking price caps one step closer to coming into effect. Energy Secretary Greg Clark has said that regulator Ofgem must implement a “robust price cap” for this winter through a proposal that will protect consumers by […]

Scottish power profits up as it increases energy bills

Scottish power profits up as it increases energy bills

Scottish Power has been criticised after announcing a boost in profits just as it increased its household energy bills. The group owned by the Spanish firm Iberdrola said profits of the UK division had doubled to £123 million during the first quarter of 2018, up from £58 million last year. […]