Ofgem ups energy price cap Energy The energy watchdog has announced that the energy price cap will be raised by a higher than expected two per cent between October and December. Ofgem’s decision is set to push the typical household’s energy spend up to £1,755 per year, despite a fall in wholesale energy prices. This comes following a price dip over [...]
Eon: UK sales suffer £800m slump as prices fall Energy Turnover at the UK arm of energy giant Eon has slumped by more than £800m thanks to a fall in wholesale commodity prices, it has been revealed. The Coventry-headquartered division of the German group, has reported a turnover of £2.5bn for 2024, down from the £3.3bn it achieved in 2023. But despite the fall in [...]
Winter fuel payments: there is a better way to help with energy bills Opinion Instead of subsidising bills according to age, we should make sure no one is spending more than 10 per cent of their household income on keeping warm, says Eon CEO Chris Norbury Despite recent improvements, energy bills remain around 60 per cent higher than before the crisis, with typical households still paying £1,720 annually. At [...]
Utilita Energy profit to fall as sales slashed by £700m January 3, 2025 The owner of Utilita Energy has warned its profit will fall because of an “increasing obligation to support customers with higher bills”. Luxion Group, which owns the Eastleigh-based supplier, added that its resources “continue to be stretched” despite its pre-tax profit increasing from £31.2m to £43m in the year to 31 March, 2024. Utilita Energy [...]
Ofgem: Energy price cap to rise by £21 to £1,738 a year on average November 22, 2024 The UK’s energy price cap is set to rise by £21 for an average household, taking a standard yearly bill to £1,738, Ofgem has said. The energy regulator opted to announce a 1.2 per cent hike in the cap for the period January to March 2025 – or £1.75 a month, on average. It sets [...]
Ed Miliband brands renewable energy transition a ‘national security fight’ against nimbys September 17, 2024 Britain’s transition to renewable energy is the “economic justice, energy security and national security fight of our time”, Ed Miliband has said, as he pledged to “take on the blockers”. The energy security and net zero secretary told Energy UK’s annual conference in London that fossil fuel “dependence” continued to leave the UK “deeply vulnerable [...]
Ofgem’s energy price cap to increase by 10 per cent from October August 23, 2024 Households will pay £12 a month more for their gas and electricity bills starting in October after Ofgem announced it would lift its price cap. The energy price cap for the final quarter of 2024 will rise 10 per cent to £1,717 for a typical household in the UK, the energy regulator confirmed today. That [...]
FTSE 100 energy giant Centrica declares stability has returned to the energy market June 5, 2024 FTSE 100 energy giant Centrica has updated the market ahead of its AGM later today.
National Grid set to profit from Hunt’s full-expensing tax relief scheme April 18, 2024 The National Grid has said that it expects to report higher earnings in its full-year results on 23 May, due to new reporting methodology.
Ofgem price cap: The time of day your household uses energy could impact future bills March 25, 2024 A "more dynamic" price cap could be introduced by Ofgem based on the time of day households use their energy, it has been revealed.