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Ofwat tightens executive pay rules

Ofwat has set out its proposals to introduce a mechanism to control how bonuses are awarded to company executives. The regulator said remuneration committees must consider how companies have delivered on customer service, obligations to the environment and communities when making pay decisions. It stressed that billpayer money should not be used for bonuses if performance is inadequate.

2 years ago

CMA accepts Northern Powergrid ED2 appeal request

The Competition and Markets Authority (CMA) will hear Northern Powergrid’s appeal against Ofgem’s final determination on its business plan for the RIIO-ED2 price control. In particular, Northern Powergrid has taken issue with the way costs have been allocated for the uptake of low-carbon technologies such as electric vehicle charging points, heat pumps and batteries.

2 years ago

Lack of new funding dampens GB Insulation Scheme launch

The Energy Company Obligation+ scheme has been rebranded as the Great British Insulation Scheme as part of a raft of energy security and net zero measures announced today (Thursday 30 March). Despite the formation of the insultation-targeted scheme, some have questioned its effectiveness to tackle energy inefficient homes.

2 years ago

‘Green Day has turned into Groundhog Day’

2 years ago

Former Centrica director to lead Vattenfall in UK

2 years ago

Thames Water brings customer service back in-house

2 years ago

ENW launches largest-ever flexibility tender

2 years ago

Cadent to give hydrogen villagers option to stay on gas

2 years ago

British Gas ends PPM premium ahead of mandate

2 years ago

Octopus CEO slams grid monopoly

Greg Jackson has hit out at the monopolistic nature of the UK electricity grid. The Octopus Energy chief executive described the grid as a source of “phenomenal frustration” for firms involved in renewable generation, interconnection and battery storage and called for competition in electricity transmission.

2 years ago