01342 332057
info@utilityweek.co.uk
Ofgem has confirmed that the market making obligation compelling large incumbent energy companies to offer wholesale trades to smaller competitors will be ended entirely. The decision comes after RWE became the fourth of the big six to be released from the obligation following Eon, Scottish Power and Centrica.
6 years ago
In his first interview, Ovo Energy's retail chief executive Adrian Letts talks to Utility Week about the direction he wants to take the challenger brand in. Specifically, he sees his new role as a way of combating humanity's greatest threat - climate change.
Ofgem will be expected to adjust its calculations for the first three months of the price cap after a high court judge ruled in favour of Centrica's appeal. The British Gas owner disputed the methodology the regulator used to calculate wholesale costs.
Octopus acquired Co-op Energy's customers earlier this year. The new company will support community energy projects across the country.
The group has released its interim results which show the impairment is reflective of the transaction price. The deal between Ovo and SSE is expected to be completed early next year.
Ofgem will need “nerves of steel” not to cave into public pressure by raising the bar for entry into the energy supply market too high, a recently departed senior executive at the regulator has warned.
A poll of 1,000 small and medium-sized enterprises (SMEs) found that although the majority felt their energy supplier was giving them a fair deal, there was concern about inflexible payment terms and “crippling rates”.
Eon has completed a power purchase agreement with RWE Renewables which will see the big six supplier acquire 3TWh annually from more than 20 British wind farms. Eon chief executive Michael Lewis and RWE's Tom Glover give their views on the deal.
Innovation has impacted a range of sectors, and energy is no exception; currently the sector is facing one of its biggest challenges yet as customers wake up from widespread inertia, spurred on by the evolution of price-comparison/auto-switching services and changing consumer expectations.
Nabuh Energy previously told Utility Week that its renewables obligation (RO) would be paid in full. It has already been issued with a provisional order by Ofgem after it missed the late payment deadline.
Ofgem has revealed that 42 energy suppliers failed to meet their total renewables obligations (RO) deadline last year, resulting in a shortfall of £206 million.
Adrian Letts, retail chief executive of Ovo Energy, has spoken about the potential forthcoming acquisition of SSE's retail arm. Letts was speaking exclusively to Utility Week at Ovo's Notting Hill offices.
Shell Energy Retail says the partnership will broaden its offering. Shell is the second energy retailer to partner with AXA this year.
Ofgem has announced that renewables obligation payments will be mutualised after suppliers missed the late payment deadline. It follows Utility Week's revelation that failed energy suppliers left behind an unpaid bill of £72 million for 2018/19.
The consumer charity has, among other things, called for more protections of customers of failing suppliers. It has further reiterated its calls for the regulation of the heat networks.
Ofgem has warned that it will take action if customers of defunct energy suppliers are not treated correctly once insolvency practitioners step in. In an open letter, the regulator set out specific areas of concern.
