Energy Reset

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

Editor's picks

Following Ofgem’s minded-to decision to introduce a quarterly price cap, Utility Week reporter Adam John believes it is time to start looking to a future that is not fixated on price and switching. From a relative cap to social tariffs, there are several options on the table to be considered. Failure to act is likely to result in more consumer woe.
Opinion
A windfall tax on energy company profits is not “off the table”, Rishi Sunak has stated. The chancellor of the exchequer has come under pressure from Ed Miliband to adopt Labour’s proposed windfall tax on oil and gas companies.
News
Ofgem’s minded-to decision to introduce a quarterly price cap period from October has raised concerns that vulnerable customers could face large price hikes during the coldest months of the year. Peter Smith, director of policy and advocacy at the charity National Energy Action (NEA), said the move “opens the door to significant price rises” over the coming winter.
News

Latest in Energy Reset

In our latest round-up of national newspaper coverage, the fourth round of the government's Contracts for Difference opens; the aftermath of Storm Arwen offers opportunities to bury power cables, and Electron has raised capital to expand amidst the energy crisis
News
Concerns about Avro Energy were raised with Ofgem by Citizens Advice on 10 separate occasions in the three years before its collapse, the charity has revealed. In a damning new report, Citizens Advice accused Ofgem of making a “catalogue of errors” and failing to act against unfit energy suppliers for nearly a decade, leaving the market in a “precarious position” and consumers with a £2.6 billion bill.
News
EDF has become the Supplier of Last Resort (SoLR) for the third time in 2021, after taking on the customers of Zog Energy. Absorbing the 11,700 customers of Zog Energy means EDF has taken on almost 600,000 accounts through the SoLR process this year.
News
Ofgem has confirmed plans to temporarily expedite Last Resort Supply Payment claims to relieve pressure on the finances of suppliers taking on the customers of failed rivals, whilst facing high wholesale energy prices. The regulator invited Suppliers of Last Resort appointed since 1 September to submit claims by 6 December to begin receiving payments from April.
News
To mark Fuel Poverty Awareness Day, Energy UK’s Simon Markell writes for Utility Week about how energy retailers are seeking to mitigate the full impact of rising wholesale costs on customer bills. He implores the government and Ofgem to help the sector ensure costs to consumers are kept down and the scourge of fuel poverty is not exacerbated.
Opinion
Scottish Power has been confirmed as the new supplier for the more than 70,000 customers of recently failed retailers Entice and Orbit Energy. Scottish Power's chief executive of UK retail Andrew Ward said the recent collapse of a number of companies shows the need for reform in the energy market to ensure those participating in the sector do so in a way which is "fair and transparent for customers".
News
Bulb’s demise had been falsely proclaimed many times before the supplier to 1.7 million customers eventually entered the special administration regime last week. Utility Week editor James Wallin discusses what the future might hold for the UK’s newly nationalised energy retailer.
Comment
Ofgem has confirmed another double supplier failure, taking the total number of exits via the Supplier of Last Resort (SoLR) process so far this year to 26. The collapse of Orbit and Entice Energy means November 2021 is the worst ever month for market exits via SoLR, with a total of 10 failures.
News
Good Energy has announced it will sell its entire 47.5MW portfolio of renewable generation assets as part of a strategic shift towards becoming an energy services provider. The supplier has also issued a trading outlook in which it warned that continued volatility in the energy industry will put “short term financial pressure” on the business.
News
The special administration of Bulb will be backed by a £1.7 billion government loan. Approving the unprecedented use of the special administration regime, a judge said state backing was of "existential importance" to continue supply to Bulb's 1.7 million customers.
News
The government should consider picking up the tab for Last Resort Supply Payment claims to spread out the costs of the industry levy and protect consumers from a sharp increase in energy bills next year, Energy UK’s deputy chief has stated. Audrey Gallacher, who also serves as the trade body’s director of policy, made the suggestion after Bulb became the first supplier to enter the special administration regime earlier this week.
News
Energy suppliers outside of the largest seven would be “mad” not to question their future in the domestic retail market after the recent turmoil, an industry expert has suggested. Ellen Fraser, energy retail partner at Baringa Partners, said they should ask whether they are "going to have to take so much of a loss that the payback period is not worth it."
News
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