Energy Reset

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

Editor's picks

The government is under pressure to find ways to mitigate the pain for consumers of the next energy price cap rise. David Blackman looks at the options on the table and gauges expert reaction on which are likely to become a reality.
Analysis
Analysts at Investec have lowered their forecast for the price cap for the next period beginning in April by almost £100 but said some form intervention is still needed to help those struggling with bills. The investment firm said wholesale gas and electricity prices have eased since it predicted last month that the price cap would rise to £2,000 for the summer period.
News
Talks between the government and industry over the ongoing energy crisis are not moving fast enough, the bosses of two suppliers have told Utility Week, with Ecotricity chief executive Dale Vince accusing ministers of being “in denial” over the extent of the issue. Vince said they are “hoping presumably that the problem will ease or go away but it isn’t going to.”
News

Latest in Energy Reset

The UK arm of a US-based energy retailer has become the 17th company to enter the supplier of last resort (SoLR) process this year, Ofgem has confirmed. Bluegreen Energy was founded in the US in 2011 and has since expanded into Europe and Japan. 
News
Seven energy suppliers have been ordered to make £17.9 million in Renewables Obligation (RO) payments by Sunday (31 October) or risk further enforcement action. The amounts owed by individual suppliers range from slightly more than £56,000 to around £12.4 million.
News
A review into the methodology for setting the energy price cap has been announced by Ofgem following the unprecedented rise in wholesale costs in recent months. In a letter to the industry, the regulator’s chief executive Jonathan Brearley also revealed plans to facilitate faster payments to suppliers of last resort and pause all new applications for supply licences for at least six months.
News
Elexon has decided to bar small supplier Omni Energy from registering new electricity meters after the company failed to sufficiently reduce its credit cover percentage. The disruptor brand, which specialises in serving in prepayment meter (PPM) customers, previously warned it was “highly likely to cease trading”.
News
A more than £1 billion tax windfall should be used to help fuel poor households in the forthcoming budget, the head of the charity National Energy Action has argued. Adam Scorer warned that without emergency support, millions of households will sink further into debt or be forced to turn off their heating, becoming at risk of serious ill-health.
News
Ellen Fraser, energy retail partner at Baringa Partners, sets out her main observations about the ongoing crisis in energy retail and discusses some of the changes that are needed to make sure it doesn’t happen again.
Opinion
In his latest piece for Utility Week Matthew Vickers, chief executive and chief ombudsman, Ombudsman Services, talks about how consumer trust is as important as the physical infrastructure needed to decarbonise and reach net zero. Vickers argues the sector needs to rethink the retail interface and build it around trust.
Opinion
Ofgem has been threatened with legal action by a number of small suppliers which said they no longer have confidence in the regulator and have demanded redress for what they deem as its failings. In a letter written by Jo Gilbert, the former chief operating officer of the recently failed PFP Energy, Ofgem was accused of helping to bring the energy market “to its knees”.
News
Energy retailers have told Utility Week that Ofgem’s plans to make them refund customer credit balances will do nothing to address the affordability issue and simply heaps further pressure on suppliers at the worst possible time.
News
Shell Energy has become a supplier of last resort (SoLR) for the second time in a week following the demise of GoTo Energy. The failure of GoTo Energy marked the 16th time this year the SoLR process has been invoked and the 38th time since 2016.
News
Elexon has decided to expel business-only energy supplier MA Energy from the Balancing and Settlement Code (BSC) subject to approval by Ofgem. In a circular published this week, the code administrator said the decision followed the supplier's failure to sufficiently reduce its credit cover percentage after going into credit default.
News
Ofgem has appointed Shell Energy Retail to take on the more than 252,000 customers of Pure Planet, Colorado Energy and Daligas following their recent failures. Speaking to Utility Week Pure Planet’s co-founder Steven Day has said he feels like his company was “caught in the crossfire” of a volatile global market and “dysfunctional domestic policy”.
News
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