Cost of Energy

British Gas hike energy bills by £44 in second 2018 rise

British Gas hike energy bills by £44 in second 2018 rise

British Gas will increase the average fuel bill of 3.5 million customers in its second price increase this year. The country’s largest energy supplier blamed the rising costs of wholesale energy prices for the 3.8% increase in standard variable tariffs (SVTs), which came just four months after April’s 5.5% rise, […]

Energy bills to rise for the vulnerable

Energy bills to rise for the vulnerable

Some of the UK’s most vulnerable households could see an increase of as much as £47 a year in their energy bills after Ofgem increased the cap on prices for the second time this year, as a result of higher wholesale costs. The UK industry regulator said the increase that […]

UK households overpay £4bn a year for energy

UK households overpay £4bn a year for energy

New analysis has found that UK energy consumers are overpaying their energy bills by £4 billion each year. The research found that 12 million families on standard variable tariffs (SVTs) with the Big Six energy suppliers are overpaying an average of £350 per year for their bills, with those in […]

Npower fined for failing to meet metering deadline

Npower fined for failing to meet metering deadline

Npower has been fined £2.4 million by UK energy watchdog Ofgem after failing to meet the deadline to introduce an advanced meter, despite the five years it knew about the roll out beforehand. Ofgem found the Big Six suppler, owned by Innogy, did not take “reasonable steps” to install the […]

Centrica profits down during H1

Centrica profits down during H1

Increasing wholesale costs and the extreme weather conditions during the beginning of 2018 saw adjusted operating profits at Centrica fall 4% to £782 million during the first half of the year. In the FTSE 100 firm’s consumer business, adjusted operating profits fell by as much as 20% to £430 million […]

100,000 customers leave Scottish Power

100,000 customers leave Scottish Power

Scottish Power has lost 100,000 of its UK customers since the end of 2017, reducing the number of its consumers to five million. The new data comes after the company introduced a hike in standard variable tariffs (SVTs), which is impacting the energy bills of 960,000 households and came into […]

Energy cap likely to be in place by winter

Energy cap likely to be in place by winter

After a new law on gas and electricity tariffs price caps was passed by parliament, 5 million British households are set to see receive lower energy bills this winter, said energy regulator Ofgem. The legislation means that the energy regulator will cap prices on standard variable tariffs (SVTs) provided by […]

SSE lose £80m in profits because of good weather

SSE lose £80m in profits because of good weather

Reduced output from renewable energy sources and higher gas prices have led to an £80 million hit on operating profits at SSE during the first quarter of this financial year. The Big Six firm has stated that its operating profits, for the three months to the end of June, have […]