Energy Reset

Utility Week's latest campaign sets out a vision for reforming the energy retail market.

Editor's picks

“Truly horrific” is how Scottish Power’s chief executive recently described the looming winter energy bill crisis. As such it’s time for a massive shift in policy and approach. Writing for Utility Week Keith Anderson says with the Queen’s Speech due in a few weeks’ time, the government must consider how to introduce a social tariff to protect those most in need.
Opinion
News of April’s price cap saw a 50% year-on-year increase in activity on price comparison websites (PCWs) in March, the latest data from Electralink has revealed. As a result 174,000 switches were started in March 2022 which is 81% less than March last year but 22% more than February 2022.
News
Ofgem wants suppliers to ringfence customer credit balances and renewables obligation (RO) payments to try and fix what it calls a “moral hazard” in the energy sector. One industry source told Utility Week they had major concerns about the proposals. They accused the regulator of coming out with "some quite draconian measures on credit balances".
News

Latest in Energy Reset

Two more energy retailers have been kicked out of the Balancing and Settlement Code (BSC), meaning they can no longer register new customers. Meanwhile, Ofgem has ordered five suppliers to pay a combined £750,000 in missed renewables payments or face having their licences revoked.
News
Utility Week launches a new campaign aimed at ensuring the current focus on the energy retail market results in real reform, not more tinkering at the edges. Energy Reset seeks meaningful protection for consumers, an end to the damaging obsession with auto-switching and steps towards long-term relationships between retailers and their customers to drive forward the energy transition.
Analysis
Kwasi Kwarteng has hinted that the government will update its supplier of last resort (SoLR) process in response to the spate of energy retailer collapses seen in recent weeks. Addressing the Commons, the energy secretary ruled out government bailouts for failed suppliers and insisted the price cap was here to stay.
News
Two suppliers listed by Elexon as being in credit default have been expelled from the Balancing and Settlement Code (BSC) by the administrator. The expulsion, which is subject to approval, means the retailers can no longer register any new customers.
News
Ofgem’s announcement marks the fourth time this year the Centrica-owned supplier has taken on customers through the supplier of last resort (SoLR) process. Scottish retailer People’s Energy exited the market last week along with fellow disruptor brand Utility Point, with EDF taking on the customers of the latter. The failures saw more than half a million customers enter the SoLR process.
News
Energy retailer Bulb is in talks with an investment bank as it seeks to weather the storm of wholesale power price hikes. News that a supplier of 1.7 million customers is seeking a financial lifeline comes as the government is engaged in emergency talks with the industry and Ofgem about a “way forward”. It has made clear that a “special administration” process is on standby in the event of a large supplier exiting the market.
News
The government has said it is ready to implement a “special administrator” in the event of a large energy supplier exiting the market. The Department for Business, Energy & Industrial Strategy issued a statement last night following talks with senior energy executives over the impact of soaring wholesale power prices. Secretary of state, Kwasi Kwarteng, is to meet Ofgem this morning “to discuss the issues raised by the industry in more detail” before convening a roundtable “to plan a way forward”.
News
After a bruising week for the energy retail market, in which wholesale power prices hit dramatic new heights, more than 500,000 customers saw their supplier exit the market and a major price comparison website was forced to suspend its energy services, the real fear is that we have yet to see the worst. Adam John looks at where the energy retail sector goes from here.
Analysis
One of the major price comparison services has halted energy comparisons after soaring wholesale costs resulted in suppliers restricted the number of tariffs available. Elsewhere other comparison services are offering a severely limited number of deals, with only a handful of suppliers listed on their sites.
News
Close
Close

Request a call back