Energy retail

Ofgem to introduce monitoring for price cap exempt tariffs

Changes to wholesale costs raise investability concerns

Energy UK has raised concerns about proposals set out within Ofgem’s update on its ongoing wholesale cost review. The trade association has written to the regulator’s price cap team, warning that current proposals “reflect a fundamental departure from previous wholesale cost reviews, and, if pursued, raise serious concerns about the investability of the sector”.

Dinner with Octopus

MPs fear taxpayer will be left on hook for Bulb sale

A heavyweight Parliamentary committee has raised concerns over the amount of taxpayer money used to facilitate the sale of Bulb to Octopus. In particular, the Public Accounts Committee (PAC) warns that there are “substantive risks” about Octopus’ ability to pay back around £3 billion of taxpayer money used to cover the cost of placing Bulb in a Special Administration Regime. Consequently, the PAC has warned that consumers could ultimately be saddled with any unrecoverable costs.

Ofgem throws weight behind locational pricing

Weekend press: Water firms to spend £272bn on upgrades  

In our latest round-up of the weekend’s national news coverage, Moody’s estimates that water companies are planning to spend £272 billion on upgrading sewage infrastructure over the next 25 years. Elsewhere, experts warn that new UK electric car charging laws do not solve all issues and Southern Water apologises for floods on the south coast.

Ofgem considers extending ban on acquisition-only tariffs

Ofgem is considering extending the ban on acquisition-only tariffs beyond March 2024. The ban was introduced alongside the Market Stabilisation Charge (MSC) as a temporary measure to ensure fair competition in 2022 as wholesale energy prices began to soar. Earlier this month, the regulator confirmed that the MSC will finally come to an end in March next year. However, Ofgem has now revealed that it is open to extending the ban on acquisition-only tariffs as a “standalone measure".

How do I make switching simple and accelerate first-time switch success rates?

Demand Flexibility Service given green light

EDF and Ovo weigh in on Utilita CMA appeal

Cross-sector data sharing tipped to unlock support

Octopus CEO: DFS was best driver of smart meter uptake

A quarter of customers cannot repay energy debt

Half of Brits say energy bills are biggest financial worry

MPs urged to investigate Scottish Power PPM warrants