Complaints to small energy firms surge May 21, 2014 THE NUMBER of customer complaints to smaller energy suppliers has risen sharply over the past six months, according to new data released today. The public furore over the cost of living and rising energy bills has prompted an increasing number of people to shop around for cheaper deals. Big six supplier Npower still had the [...]
SSE is losing customers and its price freeze won’t help May 21, 2014 SSE today announced a 9.6 per cent rise in full-year profit to £1.55bn, which was poorly received by consumer groups. While profits for its supply arm fell 28.6 per cent, critics argued that the £1.55bn figure jarred with the 8.2 per cent price hike on customers’ bills last year. SSE is losing customers. Its number [...]
Osborne: Labour and Ukip will drag UK into decline May 20, 2014 THE CHANCELLOR George Osborne will deliver a stinging attack on Labour and Ukip in a speech later today, warning of job losses, falling wages and price rises if the parties’ anti-business agendas are allowed to win out in 2015. Addressing the Confederation of British Industry, Osborne is expected to take aim at Ed Miliband’s economic [...]
Ovo increases its bills by 3pc May 15, 2014 INDEPENDENT supplier Ovo Energy yesterday said it would be raising its prices for new and renewing customers by three per cent, due to a spike in wholesale prices in April. The average annual dual fuel bill will now cost £1,028. The Ukraine crisis caused gas prices to rise temporarily, due to concerns that Russia would [...]
National Grid hikes dividend on strong year May 15, 2014 ENERGY network operator National Grid yesterday unveiled “a strong first year” under new price controls set by the regulator, posting a two per cent rise in full-year profits and hiking its dividend by 2.9 per cent. “National Grid delivered a solid year of financial performance, led by a good start to our eight-year price controls [...]
E.On UK supply profits fall but earnings from generation rise May 13, 2014 ENERGY giant E.On yesterday said revenue and profit for its UK supply arm fell in the first quarter of the year, due to milder weather. Profit from the big six supplier division slipped to £177m from £213m in 2013, while turnover dropped to £2.34bn from £2.57bn. But profit from generation and upstream activities in the [...]
Energy switching rises in April May 6, 2014 The number of customers switching energy suppliers grew for the third month in a row in April, hitting a total of 289,000, according to Energy UK. Amid the ongoing cost of living debate and rising energy bills, an increasing number of people have been looking outside of the big six for cheaper deals. The number [...]
Big energy firms accused of failing to pass on green saving May 5, 2014 THE POLITICAL battle over energy policy fired up afresh over the weekend, as Labour accused the government of failing to ensure that the big six suppliers passed savings from green levies down to customers. The government rolled back some green charges from energy bills in December, which it claimed would save consumers £50. But the [...]
We are stuck in a disastrous spiral of misplaced interventionism May 2, 2014 VICIOUS circles are the new normal in British politics. Bad, often economically illiterate, policies create poor outcomes; voters become angry; the opposition (and in some cases the government) responds with hopeless populist policies intended to alleviate the symptoms of the previous round of bad policies; the situation worsens; disenchantment with the establishment rises ever further. [...]
We are stuck in a disastrous spiral of misplaced interventionism May 1, 2014 VICIOUS circles are the new normal in British politics. Bad, often economically illiterate, policies create poor outcomes; voters become angry; the opposition (and in some cases the government) responds with hopeless populist policies intended to alleviate the symptoms of the previous round of bad policies; the situation worsens; disenchantment with the establishment rises ever further. [...]