Npower is set to be swallowed up by Eon, as part of the wider asset swap between parent companies RWE and Innogy. However, the EU Commission is yet to give its approval to the deal, and if a decision is not reached before 31 October then domestic competition approval may be needed.
What does Ovo's potential takeover of SSE mean for the big six and does it signal a new era of consolidation in the energy retail market? Adam John talks to experts including former Npower boss, Paul Massara.
Following poor financial results and heavy customer losses British Gas owner Centrica announced the impending departure of chief executive Iain Conn earlier this week. Utility Week explores the legacy he will leave behind.
More than 7 million second-generation SMETS2 smart meters have now been installed in Great Britain, the latest figures from the Data Communications Company (DCC) show. According to the DCC’s website more than 3.8 million first-generation SMETS1 meters have been migrated onto its system, meaning they are interoperable.
Small disruptor brand Nabuh Energy has been bought by Centrica and will become part of British Gas next month. Sheffield-based Nabuh had a tumultuous period in the market, having been issued with a provisional order in 2019 over missed renewables obligation payments and being ranked bottom of that year’s Q2 Citizens Advice star ratings table.
‘Vampire electronics’ are estimated to be draining the equivalent of £1.6 billion by being left on standby, new research from British Gas has found. A survey of 2,000 people by the large retailer concluded that with its average customer electricity bill at £474.44 households could save an average of £75 per year by turning off their devices.
There are several promising signs in the latest electricity switching figures, despite a year-on-year decrease, according to Electralink’s latest report. The company said it expects to see a rise in switching activity in the coming months due to the recently announced default tariff price cap increase.
Ofgem’s plans to overhaul the way credit balances are refunded should “herald the end” of advanced payment for many customers, an industry chief has said. Industry leaders have been speaking following the publication of plans which, if approved, would see retailers automatically refund surplus consumer credit balances every year.
Energy retailers could soon be required to automatically refund surplus consumer credit balances as part of a regulatory clampdown on unsustainable business practices. According to research by Ofgem £1.4 billion was held in surplus credit balances in October 2018.
An “interoperability checker” allowing SMETS1 smart meter customers to check if they can switch supplier and retain smart functionality is due to be launched by the Data Communications Company (DCC). It is proposing a system which would give secure, free access (or at cost) to system data from its platform.
Energy Systems Catapult is adding smart electric vehicle (EV) charging capabilities to its Living Lab of real-world smart homes. Cloud-based smart charging software developed by ev.energy will be incorporated into its new digital integration platform allowing suppliers, aggregators and home technology providers to trial new products and services in the 200 connected homes that now make up the lab.
Bulb has posted a revenue of more than £1.5 billion for 2020, almost doubling what it achieved in the year previously. However, it posted a £63 million pre-tax loss for the financial year, following a loss of £129 million in the previous year.
Energy retailers regardless of size should be held to the same standards when it comes to social obligations, EDF’s former customer services director has said. Steve Hayfield was speaking to Utility Week following his appointment as chief executive of Charis Grants, an organisation which manages funds and grants on behalf of major utilities.