Category: Ofgem

Ofgem’s New Rules for Energy Firms Criticised by British Gas Owner

Reforms designed to protect customers and ensure energy suppliers are resilient to market shocks have been proposed by the energy regulator, however, British Gas owner Centrica accused Ofgem of an “abdication of responsibility.” On Friday, Ofgem released fresh proposals which included stamping out the misuse of credit balances, reinforcing rules on how all domestic providers…


Energy Prices for British Households Will Rise by 80 Percent by October: Regulator

British households will face an 80 percent rise in energy prices by October, the UK energy regulator Ofgem has warned. Ofgem announced on Aug. 26 that the energy price cap for around 24 million households in England, Scotland, and Wales will rise by 80.06 percent on Oct. 1, sending the average household’s yearly bill from…


UK Energy Regulator to Revise Price Cap More Often, With Another Rise to Be Announced This Month

British homes will see their energy bills swell further this winter as the UK’s energy regulator Ofgem said on Thursday that it will announce another increase in the price cap later this month. Ofgem also said it will revise the price cap—the maximum price suppliers can charge for a unit of energy—every three months instead of…


Energy Prices Rising Faster Than Predicted, UK Regulator Warns

Energy prices have been rising faster this year than previously predicted, the chief executive of Britain’s energy regulator Ofgem has said. Speaking to the Public Accounts Committee in the House of Commons on July 11, Jonathan Brearley said that energy prices appear higher than when Ofgem made its estimate. He told MPs, “It’s clear given…


UK Energy Watchdog Eyes Changes to Price Cap Amid Energy Crisis

The British energy regulator might change the way it caps bills for households as a major spike in gas prices drives suppliers to failure. The Office of Gas and Electricity Markets (Ofgem) has given no details of what adjustments it might make to how the cap is calculated, but will set out its thinking as…


Energy Price Cap Needs to Be Changed, Says Scottish Power Boss

Britain’s energy price cap should be changed to become more reflective of the cost for suppliers to buy energy from the wholesale market, the boss of one of Britain’s biggest suppliers has said. The energy price cap is likely to cost the industry around £5 billion ($6.86 billion) over the next six months as customers…


Britons Urged Not to Worry About Power Shortages This Winter

Consumers in the UK were told on Sunday that they don’t need to worry about not having enough power this winter. Both the government and the energy industry reassured consumers that their lights will stay on during the energy crisis. It comes after nine smaller energy suppliers failed in September, and as energy-intensive industries such as the…


Shell Energy Takes on 255,000 Customers From Collapsed Supplier Green

Shell Energy is to take on 255,000 former customers from Green, one of the latest in a raft of small energy supplier to fail over the past month. Energy watchdog Ofgem has had to find providers for more than 2 million energy customers over the past month after soaring natural gas prices drove the collapse…