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....“Competition will be diminished and cheaper deals would be taken off the market as tariffs moved closer to the cap,” said Richard Neudegg, the site’s head of regulation. He echoed previous warnings by the big six suppliers that because energy regulator Ofgem would eventually have to increase the cap in order to reflect rising wholesale prices, blame would shift from energy firms to ministers. ... [Read full article on Guardian ]
Monday 19th of June 2017 03:36:14 PM
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Latest Finance News related to Energy Firm

Energy price cap likely to go ahead despite warnings of 'timebomb' image
Source : Guardian [Read Article] Monday 19th of June 2017 03:36:14 PM
....“Competition will be diminished and cheaper deals would be taken off the market as tariffs moved closer to the cap,” said Richard Neudegg, the site’s head of regulation. He echoed previous warnings by the big six suppliers that because energy regulator Ofgem would eventually have to increase the cap in order to reflect rising wholesale prices, blame would shift from energy firms to ministers. ...
General Election result is make or break for investors image
Source : Daily Express [Read Article] Wednesday 7th of June 2017 12:01:00 AM
....“Barclays, Lloyds and Royal Bank of Scotland will be under sustained downward pressure”. Brooks adds that Labour nationalisation plans will hit companies such as United Utilities and Severn Trent, and energy firms such as Centrica, and National Grid. ...
Climate clash image
Source : BBC [Read Article] Thursday 1st of June 2017 09:37:48 AM
....Meanwhile Google's chief executive Sundar Pichai said he was "disappointed" and that his firm would "keep working hard for a cleaner, more prosperous future for all". Even energy firms, whose businesses have depended heavily on oil and fossil fuels, have long been looking to the future, pouring hundreds of billions of dollars into researching and developing more sustainable, clean sources of energy. ...
We wouldn’t need price caps if the Tories hadn’t cut energy-saving schemes image
....Vested interests across the energy world responded with warnings that competition would die and consumers would inadvertently suffer as prices went up. Jobs would be shed as profit margins crumbled for the “big six” cohort of energy firms, who still hold 84% of the market despite years of so-called competition. ...
Five-minute guide to Tory's manifesto pledge on fuel image
Source : Daily Express [Read Article] Sunday 14th of May 2017 12:01:00 AM
....HIGH ENERGY. Mrs May announced the cap after energy firms ignored last year’s warning that she would take action if they did not curb price rises. ...
Theresa May to promise price cap on energy bills in Tory manifesto image
....British Gas owner Centrica claimed a cap on bills would push up average prices, as the company haemorrhaged customers at a rate that would see it lose a million by the end of the year. Although it was the only one of the big six energy suppliers not to put up its tariffs this winter, Britain’s biggest energy firm still lost 261,000 customers to competitors in the first quarter of 2017. ...
What's our cut? Energy firm lets customers see profit margins image
Source : Guardian [Read Article] Monday 8th of May 2017 07:52:55 AM
. A challenger energy firm is hoping to win back consumer trust in the industry with the launch of a tariff that shows how much profit it is making from households. ...
British Gas owner warns Tory energy price cap could push up prices image
....British Gas owner Centrica has warned that the Conservative party’s plans to cap energy bills could push up average prices, as the company haemorrhaged customers at a rate that would see it lose a million by the end of the year. Although Centrica was the only one of the big six energy suppliers not to put up its tariffs this winter, Britain’s biggest energy firm still lost 261,000 customers to competitors in the first quarter of 2017. ...
Energy price cap image
Source : BBC [Read Article] Monday 24th of April 2017 11:52:31 AM
....In December 2016 Ofgem said that 66% of consumers were still on expensive SVTs, and paying up to £260 a year too much. Since then, five of the big six energy firms have announced plans to put up their SVT prices, or have already done so. ...
General Election 2017: Energy bill cap 'will hit consumers' image
Source : BBC [Read Article] Monday 24th of April 2017 07:29:03 AM
....A cabinet minister said the Tories planned to intervene in the energy sector "to make markets work better". But Scottish Power, one of the "Big Six" energy firms, told the BBC that the move would "stop competition" and "damage customers in the long run". ...
Tory price promise image
Source : BBC [Read Article] Sunday 23rd of April 2017 01:59:35 PM
....It suggested a number of remedies to improve things but steered clear of outright price caps - with the exception of the pre-paid energy meter market. The government, regulators and especially smaller energy firms are all agreed that regular switching is the key to driving up competition and driving down prices. ...
UK gas and electricity customers face price rise double whammy image
Source : Guardian [Read Article] Thursday 20th of April 2017 05:59:19 AM
. Thousands of households are being hit with 40%-plus increases to their gas and electricity bills – far above the price hikes announced by the big energy firms in recent months. ...
Energy secretary to 'flex muscles' over rising bills image
Source : BBC [Read Article] Wednesday 19th of April 2017 10:49:17 AM
. "Muscular" action will be taken by the government against energy firms' "damaging" price rises, a minister has said, but the timing remains unclear. ...
United Airlines shows why it's time to deplane corporate-speak image
Source : Guardian [Read Article] Sunday 16th of April 2017 05:59:23 AM
.... Given the ridicule heaped on Ed Miliband when, as Labour leader, he suggested capping energy prices, that solution is surely unlikely. But the plans will need to contain something to give the “Big Six” energy firms pause for thought. ...
Broadband prices penalise loyal customers - Citizens Advice image
Source : BBC [Read Article] Monday 10th of April 2017 11:07:59 PM
...."Loyal broadband customers are being stung by big price rises once their fixed deal ends," Gillian Guy, chief executive of Citizens Advice, said. "The government has rightly put energy firms on warning for how they treat loyal customers - the actions of broadband firms warrant similar scrutiny. ...
South Africa's credit rating has been cut to junk status image
Source : BBC [Read Article] Monday 3rd of April 2017 11:11:12 AM
....The agency said that political upheaval, including the recent sacking of finance minister Pravin Gordhan, was endangering the economy. S&P also expressed concern over government debt, and in particular the expense of supporting the state energy firm Eskom. ...
FTSE 100 slides as sterling strengthens image
Source : BBC [Read Article] Thursday 30th of March 2017 08:32:29 AM
....SSE fell 1. 55% after the energy firm said operating profits for 2016-17 at its retail unit were expected to fall. ...
Energy price cap implications ominous, former regulators say image
Source : BBC [Read Article] Thursday 23rd of March 2017 06:49:47 AM
....Last week, 50 MPs backed a motion from the Conservative MP John Penrose calling for immediate action from the government to help the 20 million homes on standard variable tariffs. He claims millions of customers are being "systematically ripped off" and wants to see a "relative price cap" which would require energy firms to price their more expensive standard tariffs at just 6% above their cheapest deals. ...
SSE the latest ‘big six’ firm to put its prices up image
Source : Guardian [Read Article] Saturday 18th of March 2017 07:00:32 AM
.... “In most things in life, if you are a loyal customer you are valued and rewarded. But apparently for your energy bill, loyal customers in the view of big energy firms are there to be exploited and not rewarded – and that doesn’t seem fair,” he said. ...
Theresa May echoes Ed Miliband with promise to reform energy market image
Source : Guardian [Read Article] Friday 17th of March 2017 04:53:15 PM
....During a House of Commons debate regarding energy bills, Conservative MP John Penrose reiterated his call for a relative price cap, where there is a limit on the gap between the worst and best deals. “Under these proposals, energy firms would still be able to compete on price,” he said. ...
How to beat UK energy price rises image
Source : Guardian [Read Article] Monday 13th of March 2017 12:20:57 PM
.... “In most things in life if you are a loyal customer you are valued and rewarded. But apparently for your energy bill, loyal customers in the view of big energy firms are there to be exploited and not rewarded – and that doesn’t seem fair,” he said. ...
Energy companies ‘ripping off’ millions, ministers say image
Source : Guardian [Read Article] Sunday 12th of March 2017 12:05:09 AM
.... Penrose said customers were often being switched on to expensive standard variable deals without their knowledge, once their lower tariff periods expired. “Loyal customers are being systematically ripped off by big energy firms, and it’s just not fair. ...
E.ON price rise branded 'monstrous' as users face £97 a year extra image
Source : Guardian [Read Article] Tuesday 7th of March 2017 03:32:17 PM
.... Instead it blamed the increase on government schemes such as renewable energy subsidies, which are levied on household energy bills. The German energy firm said the cost of various social and environmental programmes had risen by about 36% on the year before. ...
Energy bills: are UK customers finally starting to switch supplier? image
Source : Guardian [Read Article] Monday 27th of February 2017 12:01:44 AM
.... It said around two-thirds of customers remained on standard variable tariffs and some could save £230 a year if they switched providers. Standard tariffs are typically the most expensive deals for customers who pay monthly for their energy, and several energy firms have announced plans to increase theirs, with Co-operative Energy and First Utility adding their names to a growing list in the past seven days. ...
The truth about falling gas prices image
Source : Guardian [Read Article] Saturday 25th of February 2017 06:59:05 AM
. In December one of the “big six” energy firms, EDF, had some good news for consumers. ...
Government pension scheme begins ditching oil and gas investments image
Source : Guardian [Read Article] Friday 24th of February 2017 10:21:26 AM
....Nest (National Employment Savings Trust), a publicly owned scheme set up by the government, said it was moving £130m into the fund because it wanted to protect its worker members from the risks associated with climate change by reducing their exposure to companies with reserves of coal, oil and gas. Nest has named oil groups Shell and ExxonMobil as two of the companies in which it is set to scale back its investment, with SSE, one of Britain’s biggest energy firms, one of those likely to be a beneficiary of the new strategy. ...
Government intervention has led to higher energy bills, claims Lords report image
.... Similarly very cheap prices at the expense of frequent shortages would be unacceptable,” the report says, which also claims fossil fuels have remained cheaper than renewable sources. But Paul Massara, the former chief executive of npower who now runs the renewable energy firm North Star Solar, said the committee was simply wrong to say fossil fuels were always cheaper than renewables, and condemned the report as “backward looking”. ...
Camden comedy as council doesn’t let me read my meter image
Source : Guardian [Read Article] Sunday 19th of February 2017 07:00:02 AM
.... AP, north London. What a ridiculous situation, one that could have been a plot line from a 1970s sitcom, made all the crazier by the fact that energy firms increasingly require customers to send in readings. ...
E.ON solves mystery of who supplies my energy – with a shock bill for £4,871 image
.... The charges remaining are accurate,” it says, offering a suitable payment plan for the remaining bill of £2,175. You are furious because had you known the bills would be so high, you would have moved out quicker and feel you are being penalised for the energy firms’ failures. ...
Voting for Brexit hasn’t saved us from secretive trade deals image
Source : Guardian [Read Article] Saturday 4th of February 2017 04:00:33 PM
.... The infamous Investor-State Dispute Settlement (ISDS) schemes are part of virtually every existing trade deal and US corporations remain committed to the need for a legal process hidden from view. Donald Trump’s new secretary of state, Rex Tillerson, won millions of dollars for ExxonMobil in secret arbitration deals when he was boss of the sprawling energy firm. ...
Game over! How to beat the 10% rise in the cost of your TV, phone and broadband image
....BT and the other retention departments will also offer a deal. The stand-out deal If you want to get away from the big suppliers, one firm stands out: energy firm SSE. ...
Blow to UK nuclear strategy as Toshiba considers pulling out of Cumbria plant image
.... It has promised to provide more details about its intentions when it publishes results on 14 February. The French energy firm Engie, which is Toshiba’s partner in the NuGen consortium, has long been seen as wanting to get out of the project. ...
npower to raise energy bills by £109 - here’s how you could SAVE more than £200 image
....”. The energy firm blamed the "difficult decision" to increase bills on higher wholesale energy prices and bigger costs to deliver Government policies, including smart metering and renewables obligation. ...
Is night time the right time to use your electrical appliances? image
Source : Guardian [Read Article] Saturday 7th of January 2017 06:59:12 AM
. A small independent energy firm has launched the UK’s first variable electricity tariff, promising households significantly lower bills if they avoid using power at peak hours and run their appliances overnight. ...
Fracking at Preston New Road: Cuadrilla's work begins for shale gas extraction image
.... . The government approved energy firm Cuadrilla's plans to frack at the Preston New Road site at Little Plumpton in October last year. ...
Campaign group rapped over fracking claims image
Source : BBC [Read Article] Wednesday 4th of January 2017 01:35:12 AM
....Donna Hume, a campaigner for the environmental charity, said it would "continue to campaign against fracking" because it was "inherently risky for the environment". The ASA conducted a 14-month investigation after receiving complaints from energy firm Cuadrilla and two individuals. ...
‘And the winner is...’ it’s the 2016 awards for worst customer service image
....When I first began a consumer column 18 years ago, my mailbag was dominated by householders wrestling with the novelty of bulky home computers that turned out not to work, or flailing in limbo as suppliers of the newly privatised utilities kidnapped each other’s customers. Now computers tend to work fine, so long as you don’t expect reliable broadband, and energy firms have left off kidnapping to concentrate on extortion. ...
EDF to hike electricity prices 8.4% with other providers expected to follow suit image
....However Guy Anker, managing editor of Moneysavingexpert, said the price rise was lower than expected given what is happening to wholesale prices. “Nevertheless, no one should see this as good news and it should sound as a loud clarion call to any customer of any energy firm on a standard tariff to urgently check if they can save by locking into a cheap fix, as other firms are likely to follow. ...
Energy customers could save £260 without switching, says Ofgem image
Source : BBC [Read Article] Wednesday 14th of December 2016 11:04:45 AM
....". Citizens Advice said the new table would help customers, but that energy firms could still do more to help. ...
Energy firms held £4bn in overpayments image
Source : BBC [Read Article] Thursday 8th of December 2016 02:58:22 PM
. Britain's energy firms have been holding on to nearly £4bn of their customers' money, figures obtained by the BBC reveal. ...
How to snap up the hottest energy deals this winter image
Source : Daily Express [Read Article] Wednesday 7th of December 2016 12:01:00 AM
....Over the last 12 months, wholesale gas and electricity prices have shot up by 40 per cent and 50 per cent respectively. Energy firms are passing on the extra cost to households, with five of Britain’s Big Six energy firms – EDF, E. ...
HK tycoon makes $5.4bn offer for Australian energy firm image
Source : BBC [Read Article] Monday 5th of December 2016 05:11:24 AM
. Cheung Kong Infrastructure (CKI) has made an unsolicited offer to acquire Australian energy firm Duet Group for $5. ...
ENERGY SUPPLIER WARNING: Fears dozens of firms could go BUST amid perfect winter storm  image
...."But it’s clearly unsustainable. "When an energy firm goes bust, supply is not interrupted and credit balances for existing customers are reimbursed by industry watchdog Ofgem. ...
British Gas to freeze standard prices this winter image
Source : Guardian [Read Article] Thursday 1st of December 2016 10:58:48 AM
....British Gas has become the second leading energy supplier to freeze its standard prices this winter. The company, the UK’s biggest energy firm, said the move would bring some peace of mind to more than 6 million customers. ...
Co-op Energy to take on GB Energy customers image
Source : BBC [Read Article] Tuesday 29th of November 2016 06:31:46 PM
....All GB Energy's staff will be transferred on the same terms to Co-operative Energy. Ofgem said the cost of protecting customers' balances would be funded partly by Co-operative Energy and partly by its safety net, funded by a levy paid by all energy firms. ...
GB Energy customers: what happens now? image
Source : Guardian [Read Article] Monday 28th of November 2016 03:30:37 PM
....Why has GB Energy collapsed?. None of the small “challenger” energy firms that supply gas and electricity actually produce it – instead they buy it on the wholesale market, add a margin, and sell it on to customers, usually via one of the price comparison websites. ...
GB Energy Supply ceases trading after wholesale price rises image
Source : BBC [Read Article] Saturday 26th of November 2016 07:45:17 PM
. An energy firm with 160,000 customers has ceased trading, blaming recent rises in energy prices. ...
Christmas energy price SHOCK: Bills jump by £129 in just TWO months image
Source : Daily Express [Read Article] Thursday 24th of November 2016 03:50:00 PM
. Five of Britain's biggest energy firms have hiked their most competitive tariffs by a staggering £129 since September, according to analysis by comparison site Uswitch. ...
FTSE 100 ends flat despite good gains for miners image
Source : BBC [Read Article] Monday 21st of November 2016 09:38:31 AM
....4%. Shares in energy firms were also higher after oil prices hit a three-week high on hopes of an output cut by the Opec oil producers' group. ...
SSE freezes standard tariff energy prices until April 2017 image
Source : BBC [Read Article] Friday 18th of November 2016 03:39:51 PM
. SSE, one of the big six energy firms, has announced a price freeze for standard rate customers until April. ...
Minister to investigate energy firms after profit claim image
Source : BBC [Read Article] Monday 14th of November 2016 09:13:47 AM
....The allegations were based on a report commissioned by Energy UK from accountancy firm PwC. According to the regulator, Ofgem, UK energy firms make a 4% profit margin on the price of a typical dual fuel bill. ...
Smart energy technology 'stymied by current policy' image
Source : Guardian [Read Article] Monday 7th of November 2016 12:01:30 AM
....Demand response involves large energy users, such as factories, using power at times when there is less strain on the National Grid. This reduces the need for the Grid to ask fossil fuel energy firms to turn up the power at times when the risk of blackouts is increasing. ...
Five minute guide to making sure your heating works image
Source : Daily Express [Read Article] Sunday 30th of October 2016 12:01:00 AM
....Boilers also have a habit of breaking down at the worst possible time, for instance during a cold snap or when you have the relatives to dinner at Christmas. Geoff Barker, business development director at energy firm Flow Products, warns that a boiler breakdown will not just leave you short of hot water and heating: “Carbon monoxide poisoning can be fatal. ...
Oil rallies after Opec ministers announce output cut image
Source : BBC [Read Article] Wednesday 28th of September 2016 09:57:00 PM
.... . While oil saw only small gains in early Asian trade, energy firms across the region soared. ...
Friends of the Earth fracking leaflet 'misleading', ad watchdog says image
Source : BBC [Read Article] Monday 26th of September 2016 01:21:33 PM
....FOE said they "would not be silenced". The provisional ruling, which was apparently leaked to The Times newspaper, was produced after the ASA received a complaint from energy firm Cuadrilla. ...
Complaints handling by energy suppliers has got worse image
Source : Guardian [Read Article] Thursday 22nd of September 2016 12:18:07 PM
....The way energy suppliers dealt with serious customer complaints deteriorated over the past two years, according to Ofgem, which named npower, Scottish Power and First Utility as the worst offenders. The energy regulator said that while complaints to the energy firms had halved since 2014, satisfaction among those who had complained had worsened over the same period. ...
Exxon Mobil investigated over oil assets image
Source : BBC [Read Article] Tuesday 20th of September 2016 11:55:09 PM
....The company said it was "fully complying" with a request from the Securities and Exchange Commission (SEC) for accounting information. Exxon is the only big US energy firm not to have taken a charge to reflect the slump in oil prices. ...
Hinkley Point: UK approves nuclear plant deal image
Source : BBC [Read Article] Thursday 15th of September 2016 06:07:25 AM
UK nuclear power station project 'in talks' for cash injection image
Source : BBC [Read Article] Monday 12th of September 2016 12:17:49 PM
....8 gigawatts of power - compared to Hinkley's 3. 2 gigawatts - but is still years behind the French energy firm EDF in securing financing and regulatory approval. ...
Energy deal 'tease and squeeze' tactics image
Source : BBC [Read Article] Friday 9th of September 2016 06:52:27 PM
.... . He described the business model that the large energy firms followed as "tease and squeeze". ...
Musk: SpaceX fireball probe uncovering 'complex failure' image
Source : BBC [Read Article] Friday 9th of September 2016 10:21:57 AM
....The technology entrepreneur owns and leads SpaceX. Mr Musk is also chief executive of electric car company Tesla Motors and chairman of solar energy firm SolarCity. ...
Yorkshire offshore wind farm gets government approval image
Source : BBC [Read Article] Tuesday 16th of August 2016 02:48:50 PM
....The aim is for Project One to be operational by 2020. The energy firm said it expected to submit a planning application for Hornsea Project Three in 2018. ...
Gas meter blunder leaves thousands of consumers out of pocket image
Source : Guardian [Read Article] Monday 15th of August 2016 02:22:16 PM
....ON that a “very small number” of its customers had been incorrectly charged for their gas, and that other suppliers may be affected by the same issue. Ofgem said all the other energy firms had promised to identify any customers who had been overcharged or undercharged by Friday 19 August. ...
Energy firms told to refund customers after gas meters mistake image
Source : BBC [Read Article] Sunday 14th of August 2016 08:13:20 PM
....The regulator has ordered gas suppliers to refund any affected customers. The problem came to light after energy firm E. ...

Royal Household manager took £55,000 in bribes to give friends contracts
 image
....A deputy property manager for the Royal Household took £55,000 in bribes to award lucrative contracts to friends and told them to “make up” payments, a court heard. Ronald Harper, 63, was paid in return for showing favour to heating, building and energy firms over a five year period. ...

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