Finance and investment

Ofgem investigates whether Utilita overcharged customers covered by PPM cap

Ofgem is investigating whether Utilita broke the rules on overcharging customers under the pre-payment meter cap. Specifically the investigation relates to the period from May to September 2019.

Gnergy may have licence revoked over unpaid RO

Ofgem has issued challenger supplier, Gnergy, with a notice of failure to comply with a final order, over its outstanding renewables obligation payments. As Utility Week revealed yesterday, Gnergy is the sole remaining supplier to owe such payments, with the rest having either paid or ceased trading.

Gnergy remains only supplier to owe outstanding RO payments

Ofgem has confirmed that Gnergy is the only energy supplier to owe outstanding renewables obligation payments. Last month Ofgem revealed that suppliers, many of whom had already left the market, owed almost £100 million in RO payments.

Capacity Market mutualisation ‘no longer required’

The Electricity Settlements Company has scrapped a potential supplementary mutualisation process and confirmed providers will be paid in full this month for the period the Capacity Market was suspended.

Fitch: Ofwat has moved positively on PR19 but pressures remain

A senior director at ratings agency, Fitch, has said Ofwat’s final determinations (FD) are an example of the regulator listening to the sector. Maria Fassakhova told Utility Week that while significant pressures remained on water companies, she did not expect many to take the risk of appealing to the CMA.

Severn Trent launches community fund

Weekend press round-up: Wales & West clashes with Ofgem

Reports in the national press this weekend include Wales and West, owned by billionaire Sir Li Ka-shing, saying it is ‘deeply concerned’ about Ofgem’s price controls, which it believes could threaten its financial health. Meanwhile, Orsted has cut several jobs as the company shifts its focus towards its corporate customers.

Conflicting data on effects of the price cap

BEIS has claimed "new data", published in 2018, shows £1 billion has been saved in 2019 as a result of the price cap. Research from Comparethemarket.com however found the price cap to be more of a "hindrance" rather than a help.

Robin Hood Energy CEO and FD suspended from roles

Gail Scholes and Robert Bain have both been suspended from their senior roles at Robin Hood Energy and are no longer listed as directors. The challenger energy supplier has announced three new senior appointments, including former Co-op Energy chief executive David Bird, and pushed back the publication of its accounts by three months.

Greencoat agrees £104m deal for two Scottish wind projects

RWE to buy newly refurbished King’s Lynn gas plant for £105m

One year of the energy price cap

The introduction of the energy price cap one year ago was a game-changing moment for the sector. But, 12 months on, what tangible differences in the sector can be attributed to the cap, and what does a Conservative majority government mean for its future direction?

PR19 – Was Ofwat tough enough?

The regulator’s final determinations have received a mixed reaction from the water industry, with some claiming Ofwat has compromised its tough stance while others believe it has made some clever moves in heading off potential CMA referrals. James Wallin gauges reaction from across the sector.

Breeze Energy enters credit default

Challenger energy supplier Breeze Energy has entered credit default. Breeze is subject to a provisional order from Ofgem after failing to make its RO payments.

Fast track water companies digest PR19 updates

Utility Week examines the impact of Ofwat's final determinations on the three fast-tracked companies - Severn Trent, South West and United Utilities - including the view of investors.