Gas retail

Ofgem on alert for ‘sharp and unethical practices’

Customers in debt may face ‘unintended risks’ following SoLR process

A lack of regulatory clarity over how consumers in debt are treated when their supplier fails could lead them to face “unintended risks”, a former Labour shadow chancellor has warned. Chris Leslie, who is current chief executive of the Credit Services Association trade body, has written to Ofgem boss Jonathan Brearley calling on the regulator to issue guidance on how the administrators of failed suppliers should deal with customers in debt.

Shell Energy blames ‘unsustainable’ pricing as losses triple

Omni Energy warns it is ‘highly likely’ to cease trading

Customers should get winter ‘break’ from levies on energy bills

Price cap predicted to rise to almost £1,660

Ofgem’s price cap on energy tariffs is on track to rise to £1,659 in April in next year due to continued increases in wholesale gas and electricity price, Cornwall Insight has predicted. This would represent an increase of £382 – or 35 per cent – on the current level of £1,227 which came into effect at the beginning of October.

Elexon: Wholesale price rises mean greater responsibility to self-balance

Ovo suffers £141m loss after ‘accelerated integration’ of SSE’s retail arm

Ovo has announced it made a loss of £141 million in 2020 due to the integration of SSE’s energy retail arm. In its financial results for the year to the end of December, Ovo said the pandemic had forced it to accelerate its integration plans, bringing forward some of the associated costs.

Eon Next appointed as supplier of last resort for three retailers

Ofgem considers action against suppliers over late RO payments

Five energy suppliers could be issued with final orders by Ofgem over £7 million in late renewables obligation (RO) payments. The retailers in question are Ampoweruk, Whoop Energy, Goto Energy, Home Energy Trading and Colorado Energy.

Elexon says CAP could rise further

Elexon has confirmed following a consultation that the Credit Assessment Price will rise to a record £184/MWh. Since August there have been three increases to the CAP, each representing a new record figure.

Early price cap adjustment must come with additional support for customers

BEIS poised to shift policy costs onto gas bills

There are reports this morning of a major policy pivot by the government, which is said to be about to announce that green levies will be moved from electricity to gas bills.

Energy market sees triple supplier failure

August saw 16% dip in smart meter installations