Strategy, policy & regulation

Retail market may solve heat pump affordability without policy changes

PR24: Northumbrian sets out ‘alternative returns’

Northumbrian Water plans to double total investment to just over £6 billion between 2025 and 2030, including £1.7 billion to improve the environment. However, the company warned that in order for its plan to be financeable Ofwat would have to adopt a new approach to the cost of equity.

Ofwat has ‘systematically restricted investment’

Outfox CEO: Customer ban allowed us to improve services

Thames: Our assets need £20bn upgrade

The cost of upgrading and future-proofing Thames Water’s ageing assets would be almost £20 billion, the company has revealed. To tackle the most pressing issues, Thames has proposed spending £4.7 billion on its assets in the five years to 2030. The figures are revealed within Thames’ PR24 business plan which it made public on 5 October, three days later than Ofwat’s submission deadline.

Sunak scrapped insulation targets to avoid landlord exodus

Wessex targets £3.5 billion AMP8 spend

Water-only complaints jump 66% after extreme weather

The number of complaints about water-only companies rose 66% year-on-year following supply interruptions during extreme weather. Although billing disputes dominated the causes of grievances, water watchdog CCW said environmental factors such as the hot, dry summer and freeze-thaw in 2022 triggered an influx of customer complaints when water supplies were affected. South East was named as the most complained about water-only company with disputes related to the freeze thaw, and how subsequent compensation claims were dealt, leading to a surge in customer contacts. 

Rees-Mogg slams net zero target as ‘idiotic tokenism’

Jacob Rees-Mogg has slammed the government’s 2050 net zero emissions target as “idiotic” and “pure tokenism”. The former energy secretary's comments come following Rishi Sunak's recent speech in which he recommitted to the 2050 target, despite rowing back on several interim milestones.

Water firms claim PR24 equity returns will put off investors

Data institution mooted to manage smart meter information

The cost of inaction is too high, we must deliver net zero

Call to allow government to block forced PPMs

Fuel poverty campaigners have called on the government to take a hands-on approach to forced prepayment meter (PPM) installations. National Energy Action (NEA) calls for the energy secretary to have direct oversight of forced PPM installations with powers to block installs to sit within government instead of the regulator.

Net zero tsar claims Sunak’s speech ‘changes nothing’

Ofgem delays review of wholesale cost allowances in price cap

Potential changes to the way wholesale cost allowances are set within the price cap will not come into force in January as previously slated. Instead, any changes to wholesale cost allowances will now be implemented in April 2024 at the earliest if deemed necessary by Ofgem.  

PR24: SES to ‘fall short’ on net zero

Water bills could rise by up to 64% by 2030

End of DNO incentives risks ‘sub-optimal’ customer service

A lack of financial incentives for distribution network operators (DNOs) to improve service risks creating a “postcode lottery” which could result in “sub-optimal customer outcomes”. That is according to Ofgem’s Stakeholder Engagement and Consumer Vulnerability (SECV) Incentives Panel, which has just published its final annual report. As the incentive scheme draws to a close, after eight years, the SECV Panel’s 2022-23 assessment warns that “stakeholder engagement is not truly embedded across all DNOs, and certainly not to the same standard”.

Has Sunak set a net-zero trap for Starmer?

Scottish government slammed over energy strategy delay