Tag: energy price cap

Centrica to legally challenge energy price cap

Centrica to legally challenge energy price cap

Centrica has announced plans to launch a legal challenge against Ofgem over the energy price cap that is to be introduced to some energy bills next month. The company that owns British Gas confirmed it was seeking judicial review of the way in which the energy regulator calculated the cap […]

Centrica names new head of consumer division

Centrica names new head of consumer division

Centrica has appointed Sarwjit Sambhi as its chief executive of its consumer division, replacing Mark Hodges who is moving to Swiss Re. Sambhi’s promotion to head Centrica’s consumer facing division, which provides energy to residential customers across the UK, US and Ireland, comes ahead of the controversial price cap that […]

SSE-Npower merger gets watchdog clearance

SSE-Npower merger gets watchdog clearance

The proposed merger between two of Britain’s Big Six energy firms, Npower and SSE, has been given the all clear by the UK’s competition watchdog. The Competition and Markets Authority (CMA) has provided the final approval needed for the merger, that will create the country’s second largest energy provider, after […]

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 […]

Ofgem delays price cap proposal

Ofgem delays price cap proposal

Ofgem has delayed the publication energy price cap proposal to allow further time to consider responses to its consultation. Details on the draft were to be released on Thursday 23rd August but will not be published in early September. Earlier this month, the energy regulator announced it will increase its […]

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 […]

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 […]