Finance and investment

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Government ‘will struggle to remove price cap’

The Energy Ombudsman told Utility Week's Customer Summit that now consumers have become accustomed to the price cap, it will be difficult to remove. Ofgem director Anthony Pygram was also speaking at the event and said the Conservative manifesto was not very clear on the next steps for the cap.

5 years ago

NI Water warns of environmental and health risks of underinvesting

Continued under-investment could result in environmental or public health risks, warns NI Water as it questions its ability to provide water and wastewater infrastructure for proposed new homes across the country without new funding being added.

5 years ago

Water retail market still seen as ‘too difficult’

As the non-domestic water retail market approaches its third anniversary, Utility Week sat down with Sarah McMath, chief executive of market operator, MOSL, to discuss the progress so far and the challenges ahead. She talks about building bridges between retailers and wholesalers, tackling data issues and what would happen if a major retailer exited the market.

5 years ago

Bulb insists £129m loss is ‘part of plan’ as company focuses on growth

Bulb Energy saw customer numbers almost double in its most recent financial year, to reach 1.6 million, with revenue growing fivefold. The company said a loss of £129 million was to be expected as it targeted ambitious growth, with an ultimate aim to reach 100 million customers worldwide.

5 years ago

Eon extends renewable energy offering to small businesses

Eon already supplies 100 per cent renewable-backed electricity to domestic customers. It now aims to get 100,000 small businesses to sign up in the next 12 months.

5 years ago

SSEN secures funds to model impact of local energy strategies

5 years ago

So Energy signs three-year energy trading deal with Axpo

5 years ago

Weekend press round-up: Former minister says May’s price cap has failed

In this weekend’s press round-up: Conservative MP John Penrose says consumers are still being ripped off after Theresa May introduced the “wrong kind” of price cap; Octopus Energy acquires 70,000 customers from French energy firm Engie; and water companies defy Ofwat by paying out hundreds of millions of pounds in dividends.

5 years ago

Fog lifts from UK utilities

With the renationalisation debate kicked into the long grass and investors unexpectedly contemplating political certainty in the UK, what is 2020 likely to bring for the utilities sector? Nigel Hawkins gives his view.

5 years ago

MOSL commits to review of water metering

The market operator of the non-domestic water sector has acknowledged the “healthy impatience” for legacy issues to be resolved once and for all, as it unveiled its business plan for 2020/21. Chief executive Sarah McMath spoke to Utility Week about the challenges retailers face in a market often seen as "too hard to do business in"

5 years ago

Green economy grew to £46.7bn in 2018

5 years ago

Smart meter firm confirms plans to raise £300m through IPO

Calisen, the owner of Calvin Capital, is valued at £1.4 billion. It plans to use the offering to fund new and existing contracts relating to the smart meter rollout. It hopes to start trading on the LSE next month.

5 years ago

Water firms failing to show link between bonus and performance

5 years ago

More than £4.2m distributed from voluntary redress scheme

Energy Savings Trust said 30 charities across Britain will benefit from the cash. The scheme is funded by voluntary payments made by energy companies found to be in breach of Ofgem rules.

5 years ago

Face-to-face energy switching sees a resurgence

Since new regulations were introduced in 2009, switching through face-to-face and telesales has declined. New research suggests this trend is changing, with smaller suppliers using direct sales as an alternative route. Challenger brand, Bulb, is one of those understood to be investigating face-to-face sales.

5 years ago

Ovo completes £500m deal with SSE

The deal will see the challenger brand become the UK's second biggest supplier. SSE will shift its focus towards its generation business.

5 years ago

National Grid launches £430m green bond

5 years ago

‘Urgent’ action on EV transition needed within 12 months

Smart charging should be the default for EV users connecting at home from next year, a new report has recommended. This is one of 21 proposals from the EV Energy Taskforce in its newly launched report, which also calls on the government and Ofgem to support the development of a new co-ordinated and accessible market for flexibility, aimed at EV drivers, by 2023 at the latest.

5 years ago

Octopus Energy considers options for global expansion

Octopus Energy chief executive Greg Jackson has confirmed talks are underway with foreign investors over the challenger brand’s global expansion but insisted there is still scope to move into five new territories - as well as growing to 5 million customers in the UK - with the support of current backers, Octopus Group. The company recently appointed KPMG to advise on growth options.

5 years ago

Sector backs calls for VAT cut on EVs

The director of EVs at Ovo and Octopus’ former head of smart projects are among those to tell Utility Week they support the AA’s plea to government to remove VAT from the price of an electric vehicle (EV). However, they insist this needs to be part of a wider package of measures to stimulate EV take-up.

5 years ago