5m customers switch energy supplier in 2019 so far November 25, 2019 Over 5m customers have switched energy supplier so far in 2019, Energy UK has revealed, as consumers continue to make the most of increased competition. The latest figures show that 626,284 customers moved to a new supplier last month – down 1.1 per cent on October 2018. Read more: National Grid and SSE shift to [...]
Labour mulls climate change finance crackdown as election looms November 3, 2019 The Labour party is considering measures to crack down on firms which invest in fossil fuels which include making the Bank of England (BoE) change its policy operations to avoid carbon bias. In an announcement which has raised concerns about “skewing” the BoE’s focus, Labour said it was also considering forcing banks to publish the [...]
Nabuh Energy on the brink as Ofgem demands outstanding payment October 31, 2019 Nabuh Energy has become the latest energy supplier to be threatened with having its license revoked after Ofgem issued it with an order demanding outstanding Renewables Obligations be paid today. The Sheffield-based company, which came bottom of Citizens Advice’s customer service rankings, owes £872,200. Read more: Ofgem issues Gnergy final payment warning Nabuh Energy is [...]
Ofgem issues Gnergy with final payment warning October 29, 2019 Ofgem has issued Gnergy with a final order for their unpaid Renewables Obligations bill, raising the possibility that the supplier could have its license revoked if they did not comply by the payment deadline. The watchdog said that the company, which was one of four suppliers who missed the original deadline for payments, had not [...]
Vivo Energy announces record third quarter growth October 25, 2019 African fuel company Vivo Energy this morning announced another record quarter of growth, with a 13 per cent rise in gross cash profit for the third quarter. Vivo, which operates as a Shell licensee across 23 African countries, made a total cash profit of $189m (£147m), up from $167 million a year earlier, propped up [...]
Half a million UK homes face £114 energy bill hike October 24, 2019 Half a million households will be hit with a £114 rise in energy bills if they do not switch provider over the next three months. New research by price comparison website comparethemarket.com shows that there are 213 fixed energy tariffs ending this year. Read more: Competition watchdog to examine £500m Ovo Energy SSE deal If [...]
Drax turns down third £2bn offer October 20, 2005 Europe’s largest coal-fired power plant Drax has rejected a £2bn bid from International Power and Japanese engineering company Mitsui. Yorkshire-based Drax, which is running an auction for its sale at the same time as preparing an initial public offering, has also turned down similar bids from two American consortiums. Drax, which supplies 7 per cent [...]