Tag: Ofgem

Ofgem ban Economy Energy from taking new customers

Ofgem ban Economy Energy from taking new customers

The UK energy regulator has banned Economy Energy from taking on new customers in the latest of a series of issues that have affected the Coventry based energy provider. A three month ban on new customers joining Economy was placed on the firm by Ofgem, after the regulator saw a […]

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 […]

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 […]

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 […]

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 Details on the draft were to be released on Thursday 23rd August but will not be published in early September.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

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 […]