Tag: Big Six

SSE and Npower merger scrapped

SSE and Npower merger scrapped

A proposed merger between two of the UK’s largest energy companies has been scrapped after SSE and Npower failed to agree on terms to ensure financial support for the new firm. The merger would have seen the UK’s “Big Six” energy providers reduced to five, although it came under a […]

Centrica shares plummet as customers leave

Centrica shares plummet as customers leave

Centrica has lost 372,000 home energy customers in the four months to the end of October as high levels of competition from smaller firms mount on the Big Six. The figures revealed represent a 3% drop in the energy giant’s 12.5 million gas and electricity accounts from June, highlighting the […]

SSE reveals Npower deal could fall through

SSE reveals Npower deal could fall through

UK energy giant SSE has expressed a level of uncertainty over its planned merger with Npower after the two companies delayed the deal as a result of incoming caps on default tariff prices. SSE said the impending price cap on standard variable tariffs (SVTs) is expected to increase pressure on […]

Great Britain Pound Currency

UK households owe nearly £400m to energy companies

The number of UK households that owe money to energy suppliers has risen by 300,000 this year with a total of nearly £400 million owed ahead of the winter months. Price hikes throughout the year contributed to the amount of collective debt in the UK to hit £393 million in […]

Small suppliers make up a quarter of the UK energy market

Small suppliers make up a quarter of the UK energy market

One in four UK energy customers have moved from contracts with larger firms to small and medium sized suppliers after the government moved to cut the Big Six’s monopoly of the market. The surgency in smaller suppliers has significantly reduced the market share of the Big Six firms and slashed […]

SSE profits drop 50%

SSE profits drop 50%

SSE has warned its profits could be cut to half of that from last year following reduced output from renewables, higher energy costs and a drop in demand. The Big Six firm has adjusted profits for the first five months of the financial year, that started in April, £190 million […]

British Gas pays £2.65m for overcharging

British Gas pays £2.65m for overcharging

Big Six energy firm British Gas has been forced to pay out £2.65 million after it overcharged 94,000 customers and imposed exit fees of thousands of households wrongfully. Ofgem stated the Centrica owned company had incorrectly moved customers that switched to a new supplier to a more expensive tariff as […]

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 […]