Ofgem must speed up plans to protect customers, MPs warn September 25, 2023 MPs have criticised regulator Ofgem for being too slow at implementing changes in the energy sector to protect customers this winter.
Compensation cap for severe weather power loss upped from £700 to £2,000 as ‘lessons learned’ by Ofgem September 1, 2023 The compensation cap for households and businesses that lose power in severe weather has increased from £700 to £2,000 after “lessons learnt” in the aftermath of Storm Arwen. Under Ofgem’s new rules, the initial payment will also increase, from £70 to £80, if a customer’s supply is not restored after 24 hours in a category [...]
Ofgem clamps down on generators gaming the system after £3bn hit to households September 1, 2023 Electricity generators will no longer be able to artificially inflate energy prices and drive up households bills.
Energy bills expected to fall £150 a year from October, say analysts August 18, 2023 The amount that an average household is expected to pay for its energy bills will fall by around £150 per year from the start of October, according to a new forecast. Ofgem’s next price cap, which will be announced on Friday next week, will drop to around £1,925, according to the latest forecast from Cornwall [...]
Ofgem pledges energy supplier profit bonanza will be a ‘one off’ July 27, 2023 The mega profits unveiled by energy retailers this week are a one-off, pledges market watchdog Ofgem after a bumper week of earnings.
Ofgem moves to shore up energy sector risk consolidating big firms’ market power July 26, 2023 Suppliers are facing tightening financial rules from regulator Ofgem, which is desperate to avoid a repeat of the domestic energy crisis.
Ofgem toughens finance requirements for suppliers in latest market clampdown July 26, 2023 Ofgem has announced toughened capital requirements for suppliers, as it looks to ensure firms are resilient to future market shocks.
Energy suppliers could have to hand money back to customers in Ofgem price cap review July 19, 2023 Ofgem could order suppliers to pass money back to customers this winter as part of its latest review of the price cap.
Ofgem shortlists four suitors for £2bn offshore wind assets July 18, 2023 Ofgem has now shortlisted four operators for the next bidding round of its highly prized offshore transmission links, worth an estimated £2bn.
Ofgem clamps down on firms handing out dividends without secure finances July 4, 2023 Ofgem will step in against suppliers that hand out dividends to shareholders before recapitalising, warned the watchdog's boss.