Gas retail

Trio appointed to manage new Retail Energy Code

Octopus expands into US with acquisition of Silicon Valley startup

Octopus Energy has entered the US market with the acquisition of Evolve Energy, a Texas and Silicon Valley-based startup. The company aims for its Kraken platform to have a presence in all 50 states, targeting 25 million accounts on the platform by 2027.

Energy switching fell to two-year low in Q2

The number of customers switching their gas or electricity supply in the second quarter of 2020 fell to the lowest level for more than two years, the latest statistics from Ofgem have shown.

‘Overlapping’ levies should be replaced with ‘single, simple’ carbon charge

Ofgem considers adjusting price cap to reflect rise in unpaid bills

NEA warns of Covid-induced ‘lethal cocktail’ this winter

Reduced incomes, higher energy costs and the heightened risk of contracting Covid-19 will lead to a “lethal cocktail” for thousands of vulnerable people this winter, National Energy Action has warned. The UK Fuel Poverty Monitor, produced by both the NEA and Energy Action Scotland, collected evidence from 73 organisations to understand the impact the pandemic has had on consumers.

Octopus creates 80 jobs with opening of Brighton offices

Octopus Energy has announced the creation of 80 jobs at its newly opened offices in Brighton, which will be home to a quarter of its overall UK staff. The renewable energy retailer says it is looking to recruit local talent to the new roles.

Ofgem confirms ROC shortfall for 2019/20

Ofgem has revealed there is a shortfall of renewables obligation certificates (ROC), after suppliers failed to meet their entire obligation for the 2019/20 year. The regulator has said however that initial, unverified figures suggest the outstanding obligation value as of 1 September was less than at the equivalent point in time last year.

37% of energy complaints were live for over a month in Q2

Almost two fifths of complaints submitted to energy companies have been live for more than one month, Ofgem’s latest consumer perception survey has found. The report, commissioned by both the regulator and Citizens Advice, also reveals consumer satisfaction in the complaints handling process took a dip in Q2 2020.

Why scale is the key to weathering a stormy market

For Paul Richards, chief executive of Clydebank-based Together Energy, struggling Bristol Energy presented an opportunity for his business to get the scale needed to weather a volatile marketplace. Richards tells Utility Week more about his recent acquisition and why offering opportunities to some of the poorest households in Scotland comes with challenges for his company's customer service.

Worst of Covid impact ‘yet to come’ for utilities sector

Utilities must take urgent action now to help customers avoid escalating debt or face a crisis this winter. This is according to Baringa Partners, which has investigated the potential impact of coronavirus on the sector over the coming months and concluded companies face a three-fold increase in typical bad debt charge write-offs.

Push for diversity constrained by a lack of data

Together acquires Bristol Energy for £14m

Clydebank-based challenger brand Together Energy has acquired the residential customers and brand of Bristol Energy. Bristol City Council, which founded the supplier in 2015, announced earlier this year it would be selling the company and last month Yu Group acquired the council-backed retailer’s business portfolio.

Clear north/south divide in energy switching

Data taken over a 20-year period shows a clear north/south divide between the households most likely to switch energy provider. The research, from Uswitch, shows eight northern towns and cities make up the top ten switching areas per 1,000 population.

SMETS2 installations hit 5m mark