Tag: energy price cap

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 Details on the draft were to be released on Thursday 23rd August but will not be published in early September.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 […]

Martin Cave appointed Ofgem chairman

Martin Cave appointed Ofgem chairman

Regulatory economist Martin Cave has been appointed as Ofgem’s new chairman as the watchdog looks to toughen its stance on energy firms with its impending price cap on energy bills. A Whitehall source said: “This appointment would send a clear signal to retail energy bosses that the government wants a […]

UK energy policy has led to “intermittent and unreliable” supply

UK energy policy has led to “intermittent and unreliable” supply

Britain’s energy mix is focused on the introduction of more forms of renewable energies, however these are unreliable and intermittent, and it is unclear as to what will fill the gap when these fail, according The Sunday Times. In a piece for the broadsheet paper, John Collingridge said: “Much like […]