Energy Reset

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

Editor's picks

Leading energy retailers have set out their arguments for reform of the market, as part of Utility Week’s Energy Reset campaign. Eon, EDF, Octopus, Scottish Power and So Energy, among others, share their recommendations for overhauling energy efficiency, reshaping the price cap, protecting competition while ensuring no-one has a “free bet” and making the wholesale market fit for a green grid.
News
Eon UK chief executive Michael Lewis has told Utility Week he backs reform of the wholesale electricity market but has warned "designing a system that works well, keeps the light on, incentivises people to build and maintain plants is not straightforward".
News
Utility Week is poised to launch a new flagship event that will take a fresh approach to debating the competing objectives of affordability, sustainability and resilience. Hear from the leaders of Eon, Ofwat, UK Power Networks, and Yorkshire Water as well as some new voices joining the debate.
Market insight

Latest in Energy Reset

Ofgem has scrapped proposals to allow suppliers of last resort (SoLRs) to sell their rights to Last Resort Supply Payments in light of the government’s support measures announced on Thursday (3 February). The proposals were intended to allow SoLRs to receive the money upfront whilst also spreading out the costs over a longer period but this regulator said this is no longer necessary due to the government’s planned £200 rebate on electricity bills.
News
The Treasury’s £9.1 billion support package to lessen the impact of the £693 price cap hike announced by Ofgem has been described industry commentators as a “sticking plaster”. Chancellor of the exchequer Rishi Sunak unveiled plans this morning (3 February) to provide rebates of up to £350 to households to relieve pressure on their finances after Ofgem revealed the price cap on default tariffs will jump by 54% in April to £1,971 per year. Utility Week presents a round-up of the reaction from the energy sector.
News
Rishi Sunak has unveiled a three-pronged plan, including £9.1 billion worth of rebates, to cushion the blow for households resulting from the sharp increase in the level of the price cap announced by Ofgem this morning (3 February). The chancellor of the exchequer said energy suppliers will give all electricity customers a £200 rebate from October, which will then be recovered from bills over the following five years, with the government covering the costs in the meantime.
News
Ofgem has revealed that the price cap on default tariffs will rise by £693 in April to £1,971 following the quadrupling of wholesale energy prices over the last year. The regulator said it will also announce further measures to deal with ongoing energy crisis on Friday, including an uplift to the wholesale cost allowance under the price cap and changes to licence conditions to allow it to make in-period adjustments.
News
After a swathe of supplier failures, the UK energy retail market is once again dominated by a few players. But even those companies resilient enough to weather the storm have emerged weakened. Nigel Hawkins assesses how the market is likely to evolve from here, where consolidation might come and the government’s options for disentangling itself from Bulb.
Analysis
Citizens Advice has revealed it is helping more people than at any time since the pandemic began as sky-high gas costs continue to exacerbate the cost-of-living crisis. The consumer charity said it broke several “unwelcome records” in January, which it said reveal the enormous pressures facing households even before the price cap increase in April.
News
As part of Utility Week’s Energy Reset campaign, we present a series of perspectives on tackling the cost of living crisis. Octopus Energy Group’s Rebecca Dibb-Simkin, global director for product and marketing, lists three core solutions she believes will help alleviate the enormous pressure facing consumers.
Opinion
As part of our Energy Reset campaign, Utility Week has gauged the views of senior suppliers on the impact of next week’s price cap review and longer-term solutions to avoid turbulence in the retail market. In the first of a three-part summary of their responses, James Wallin explores their frustrations that government has wasted the time afforded by the price cap and that support measures are still not in place.
News
As part of Utility Week’s Energy Reset campaign, we present a series of perspectives on tackling the cost of living crisis. Louise Beardmore is customer services and people director at United Utilities, the water company covering the most economically challenged region in the UK. In our latest piece, Beardmore argues there is a strong case for collaboration across the utilities sector.  
Opinion
As part of Utility Week’s Energy Reset campaign, we present a series of perspectives on tackling the cost of living crisis. In this piece Gillian Cooper, head of energy policy at Citizens Advice, outlines four key steps the government can take to assist those most affected by soaring energy costs.
Opinion
Octopus Energy has said it expects to incur around £100 million of losses as it absorbs the impact of wholesale price increases for its customers. The company is currently buying energy for about £2,000 for an average home and selling it for £1,300. The figure is included in the group's financial results for 2020/21. Meanwhile, Octopus has also announced its launch into the French market via a new acquisition.
News
As part of Utility Week’s Energy Reset campaign, we present a series of perspectives on tackling the cost of living crisis. In our latest piece Giulia Privitera, social sustainability manager at UK Power Networks, talks about what the country’s largest electricity distributor has been doing to alleviate pressures on consumers. For Privitera it is vital to recognise a ‘one size fits all’ approach will simply not work.
Opinion
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