Scottish independence could impact results says Centrica March 27, 2014 Energy giant Centrica has warned of the consequences of a yes vote in Scotland's independence referendum as well as political interference in the energy market. The company made the comments in its annual financial report for the year to 20 February 2014. In the event that Scotland became independent parts of Centrica's upstream assets would [...]
Bottom Line: Ofgem probe is for all the wrong reasons March 28, 2014 THE UK’S regulatory authorities are supposed to be independent. Ofcom, Ofwat, Ofgem – all were set up to oversee our utilities markets and protect the interests of consumers. After yesterday’s referral of the energy market to the new Competition and Markets Authority (CMA) for a full-scale investigation, many will no longer see Ofgem as objective, [...]
What the other papers say this morning – 19 June 2014 June 18, 2014 FINANCIAL TIMES US share dividends hit record US share buybacks and dividend payments climbed to a record level in the first quarter of 2014, as companies chose to boost shareholder returns in the absence of robust revenue growth. Members of the S&P 500 index – led by Apple, IBM, ExxonMobil and FedEx – spent $241bn [...]
Ofgem confirms full energy market investigation March 27, 2014 British households may be paying too much for energy, according to regulator Ofgem. The energy sector has been referred to the Competition and Markets Authority (CMA). The investigation could take between 18 and 24 months. Ofgem proposed that the CMA investigate the market to consider "once and for all" whether there are barriers to effective [...]
Complaints about energy companies surge by 224pc April 7, 2014 The bad news just keeps on coming for Britain's energy companies. The number of complaints about energy providers has surged by 224 per cent for the first three months of 2014, according to the sector's ombudsman. Complaints from distressed customers rose from 3,277 for the first three months of 2013 to 10,628 for the same [...]
Forget energy companies: Blame the regulator for distorting competition March 18, 2014 OFGEM, the Office of Fair Trading (OFT) and the Competition and Markets Authority (CMA) will shortly issue an assessment of how well competition in the markets for gas and electricity is serving the interests of households and small firms. But as I argue in the March/April 2014 edition of the European Competition Journal, Ofgem’s regulatory [...]
Energy wars spark UK blackout fears March 28, 2014 OFGEM’S decision to refer the UK’s energy market for a full-scale investigation will put the UK at a higher risk of blackouts, the industry warned yesterday. The regulator has asked the new Competition and Markets Authority to probe competition in the retail energy market, following months of heightening political pressure to bring down customers’ bills. [...]
Energy wars spark UK blackout fears March 28, 2014 OFGEM’S decision to refer the UK’s energy market for a full-scale investigation will put the UK at a higher risk of blackouts, the industry warned yesterday. The regulator has asked the new Competition and Markets Authority to probe competition in the retail energy market, following months of heightening political pressure to bring down customers’ bills. [...]
Competition and Markets Authority appoints host of new directors November 6, 2013 The Competition and Markets Authority (CMA) has appointed seven new directors, following on from earlier appointments to the CMA board and senior team. The CMA is a non-ministerial government department which seeks to reduce anti-competitive practices. The body was launched on 1 October of this year to replace the competition commission, and the office of [...]
EDF chief blames green policy costs for driving up energy bills October 8, 2013 THE BOSS of EDF yesterday blamed government policies for raising gas and electricity bills, rather than energy companies reaping increasingly large profits. Vincent de Rivaz, chief executive of the big six energy supplier, told a conference in London that around half of the increase in bills is due to higher wholesale costs, a quarter is [...]