Energy Reset

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

Editor's picks

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
The government should give energy customers a “break” by taking levies off their bills for the winter, the co-author of the 2019 Conservatives’ election-winning manifesto has said. Rachel Woolf told a fringe event at the Tory conference in Manchester on Tuesday (5 October) that temporary relief from policy costs could help households struggling to cope with rising prices.
News
Ofgem’s price cap on energy tariffs is on track to rise to £1,659 in April in next year due to continued increases in wholesale gas and electricity price, Cornwall Insight has predicted. This would represent an increase of £382 – or 35 per cent – on the current level of £1,227 which came into effect at the beginning of October.
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Latest in Energy Reset

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.
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