UK government review looking to strengthen Ofgem
The UK government has announced plans to undertake a comprehensive review of energy regulator Ofgem.
Ofgem
Ofgem approves five undersea interconnectors
The UK’s Office of Gas and Electricity Markets (Ofgem) has approved five new undersea energy links. In total, the newly approved projects are expected to boost the UK’s energy export and import capacity by over 6 GW, increasing it to over 18 GW by 2032, provided all of the approved links are completed as scheduled.
National Grid agrees £630m sale of electricity system operator to UK government
National Grid has reached an agreement with the UK government to sell its Electricity System Operator (ESO) for £630 million.
Drax to pay £25 million for misreporting biomass data
Drax Group Plc will pay £25 million ($32.9 million) after UK regulator Ofgem found that the company had misreported data about the biomass it burns in its power plant.
Ofgem approves £3.4bn for Anglo-Scottish ‘electricity superhighway’
Ofgem has approved a £3.4 billion funding package for the Eastern Green Link 2 project.
Energy watchdog outlines steps to drive flexible power use
Britain’s energy watchdog has announced moves to help drive flexible electricity use as the UK increasingly switches to wind and solar power under aims to make savings of up to around £70 billion by 2050.
UK energy firms oppose plans for cheaper deals for new customers
UK energy suppliers and consumer-protection groups are urging the regulator to maintain a ban on cheaper tariffs for new customers that was introduced during the energy crisis to help stabilize the market.
Beatrice Offshore Windfarm to Pay £33 Million for Breaching Market Rules
A wind farm in Scotland will pay £33.14 million to UK energy regulator Ofgem for breaching energy market rules.
Ofgem confirms 7% energy price cap cut
Ofgem has confirmed that that it will lower the energy price cap for domestic energy bills by 7% from 1 July to 30 September 2024 compared to the previous quarter.
Centrica boosted CEO pay as families struggled with energy debt
The Chief Executive of Centrica Plc (LON:CNA) got a bumper pay raise last year while millions of households across the country struggled with energy debt.
UK fast-tracks wind power cable to address grid deficiencies
Ofgem approved £2 billion in funding for a subsea cable to transmit wind power from Scotland to England.
Ofgem raises concerns about net zero costs on lower income households
Ofgem has raised concerns that net zero costs could disproportionately hit lower income customers as it announced it is to examine how to protect households against future price shocks.
Report finds nearly two thirds of UK energy firms consider moving investments abroad
UK Sustainable Investment and Finance Association report finds failure to implement favourable policies could see UK lose out on £115 billion in investment
UK homes could see steepest fall in energy bills since summer
British households could see their energy bills fall nearly 16% by spring as prices continue to ease from crisis levels, bringing relief to homes with stretched budgets.
All Winser advice accepted amid UK pledge to speed up grid connections
Government has accepted ‘all’ advice from a recent report aiming to halve the time taken to build new transmission, while boosting efforts to connect new energy projects.
Households set to learn of fresh energy price rise
Households are set to learn that their energy bills will rise again from January as hopes for relief from the cost-of-living crisis are put on hold.
New Ofgem rules to clear ‘zombie projects’ from grid queue
Ofgem has announced new measures to speed up grid connections and eject slow-moving developments will come into force before the end of this month.
Former oil exec picked for Ofgem chair
The agency said he would chair the governing body, the Gas and Electricity Markets Authority (GEMA), subject to confirmation by Parliament.
Ofgem cuts energy price cap to £1,923
Ofgem has slashed the price cap on energy bills to £1,923 after wholesale energy prices fell further, it announced on Friday.
UK households look to lock in energy prices as crisis recedes
Fixed energy tariffs are making a comeback in the UK, allowing consumers to lock in power and gas rates now that prices have eased from last year’s record levels.
UK energy regulator seeks ways to make home usage more flexible
The UK’s energy regulator is looking into how to get households to use less when demand peaks or there’s little wind power, as part of efforts to decarbonise the grid.
Plans to offer grid ‘amnesty’ for up to 8GW of projects
Ofgem and National Grid have set out plans to free up to 8GW of grid connection capacity from slow-moving developers, without incurring penalties.
UK’s Ofgem warns energy suppliers to hold off big dividends
The UK energy regulator Ofgem is warning suppliers they must not use surging profits to pay huge shareholder dividends.
Ofgem handed net-zero mandate – What will change?
It's hoped the policy will see a greater focus on value and investment - rather than lower costs - for crucial grid connections.
SSE fined £9.8m over ‘excessive’ grid payments to Foyers
Ofgem has issued a fine of nearly £10 million to SSE Generation after an investigation found it solicited ‘excessive’ payments for reducing output from its Foyers hydro scheme.