Energy bills predicted to fall from July by nearly £450
Ofgem is expected to lower household energy bills to an average of £2,053 a year from July to reflect tumbling wholesale prices, according to analysts.
Ofgem
Ofgem lowers energy price cap but bills still expected to rise for households
Ofgem is lowering its energy price cap - the amount suppliers are able to charge - from the current £4,279 per year to £3,280 for the average household, effective from April 1, it has announced.
UK will speed up grid connections to boost clean power capacity
The UK’s grid operator will reform the way power generators apply to connect to the system to make it easier and faster to ramp up renewable capacity.
Law and the energy agenda in 2023
2022 proved to be a significant year for the energy sector, with rising costs across the globe for consumers and energy companies alike, on top of the international push towards net zero.
Drax fined £6.1m for charging extreme energy prices
UK power firm Drax Group agreed to pay a £6.1 million ($7.5 million) fine for breaching its license, after charging the grid operator excessive prices to reduce its generation.
Western Isles Interconnector: A big (positive) change from Ofgem
It is not the snappiest of titles but Ofgem’s Decisions on the new Accelerated Strategic Transmission Investment (ASTI) strategy may come to be seen as a landmark document in the evolution of Britain’s energy industry and the Scottish economy.
Gas plunge means cash for Sunak, but no relief yet for consumers
UK government subsidies for household energy bills are expected to plunge to a sliver of their current levels with a slump in wholesale prices.
Energy suppliers exposed to nearly £2bn debt as households struggle with bills
Energy suppliers may be exposed to around £1.9 billion in debt, much of which could be unrecoverable, as households struggle to pay soaring energy bills.
Net Zero Nudge 02: decarbonised energy
In the drive towards reducing emissions and achieving net zero, decarbonising energy will play a crucial role.
UK energy regulator warns of ‘significant risk’ of gas shortage
The UK faces a “significant risk” of gas shortages this winter and could enter an emergency that would see power stations switched off, according to regulator Ofgem.
Equinor applies to extend Norfolk offshore wind projects
Equinor (OSLO:EQNR) has lodged planning applications to expand its wind farms off the coast of Norfolk, in plans that would new capacity to the Sheringham Shoal and Dudgeon schemes.
Nearly one in four ‘won’t turn on heating this winter’ as energy bills soar
Nearly one in four adults plan never to turn their heating on this winter, polling suggests, as average bills are set to rocket while the temperature drops.
Cost of UK winter triples as energy price cap leaps
UK households will pay almost triple the price to heat their homes this winter compared with a year ago, a jarring increase for millions of people already struggling to afford everyday essentials.
Energy Price Cap: Expert warns of rationing risk as bills to surge beyond £3,500
As the energy price cap surges, a leading petroeconomist has painted a gloomy picture as the UK faces up to the prospect of winter without adequate energy supplies.
UK bills will hit nearly £3,600 from October, experts say in final prediction
Families face a grim winter as experts predict the cap on energy bills will hit close to £3,600 per year from October - before rising again next year.
45 million in UK to be plunged into fuel poverty in winter
An estimated 45 million people in the UK will be forced into fuel poverty and struggle to pay energy bills this winter, new research has found.
First Minister plans “urgent summit” with energy cos and consumers
Nicola Sturgeon is to convene a summit between energy supply companies and consumer groups later in August to discuss what support can be offered to those struggling to pay soaring bills.
Orkney Council presses Scotgov for Faray decision to unlock £1.5bn interconnector
Orkney Islands Council (OIC) has written to the Scottish Government to press its case for a decision on the Faray onshore wind farm, warning that a vital interconnector to the mainland cannot happen without it.
New dire price cap warning as energy bills look set to hit £4,200 in January
Energy regulator Ofgem is to blame for part of a massive increase in energy bills, experts said, as they forecast that the price cap will hit more than £4,200 in January.
Energy price cap to be updated quarterly ahead of ‘challenging winter’
Ofgem has confirmed that the energy price cap will be updated quarterly, rather than every six months, as it warned that customers face a "very challenging winter ahead".
SSEN to pay extra £2.3m for slow Storm Arwen response after Ofgem report
Power network operators have been ordered to improve their storm response.
Ofgem protects energy market at expense of consumer affordability
The energy regulator Ofgem has published a decision document on the Market Stabilisation Charge (MSC) and opened a fresh consultation on changes to the frequency of energy price cap adjustments. These changes, while identified by the regulator as crucial to protect the market, risk having an adverse impact on consumers - something Ofgem concede in their own documentation.
Scotland facing ‘tsunami of fuel poverty’ warns First Minister
First Minister Nicola Sturgeon has warned that Scotland faces a “tsunami of fuel poverty” as energy bills are set to increase again in October.
Cap on UK energy bills set to be extended past 2023
The Government plans to continue capping household energy bills even after 2023 when current legislation is set to run out.
More action on energy bills needed by July – ScottishPower boss
The Government must take urgent action and help the poorest households months before energy bills will rise again ahead of the winter months, the boss of a major energy company has said.