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There’s a reason British Gas has been one of the industry’s great survivors – its
5 years ago
And when that lift from £1,137 to £1,254 kicks in on April 1, despite the
Portsmouth Council’s Victory Energy scheme may still come to fruition after councillors joined forces to vote in favour of an amendment for its reinstatement.
Ofgem has announced it is proposing to issue URE Energy with a final order following the company’s non-payment of its Renewables Obligation (RO) payment.
The supplier will increase the tariff by £117 to £1,254 for the average dual fuel customer, following Eon and EDF which raised their prices on Monday and Tuesday respectively.
EDF Energy has become the second big six supplier to increase its standard variable tariff (SVT) to the new cap level following Eon.
Eon has become the first supplier to announce price increases in line with the new level of the price cap.
SSE is still considering options for the future of its retail arm – SSE Energy Services – after plans for a merger with Innogy’s Npower were scrapped in December.
Ever since the government made the decision to proceed with smart meter deployment, in December
Industry analysts predict the price cap will decrease in the next review - due to falling wholesale costs.
Industry voices have given a mixed reaction to the news Ofgem is to raise the default tariff cap on standard variable tariffs (SVT) by £117.
The regulator blamed a rise in wholesale costs for the cap increase, with Ofgem estimating that around £74 of the £117 increase in the default tariff cap is due to higher wholesale energy costs.
Around 300 customers 'slipped through Ofgem's safety net' according to industry sources.
Octopus Energy Business Solutions has announced it is offering 100 per cent green tariffs to business customers through a partnership with Bolton-based Love Energy Savings.
Bath-based Pure Planet has announced it is reducing membership fees to £151 below the default tariff cap.
Sainsbury's Energy has announced it is ending its white label partnership with British Gas.
Ofgem is expected to announce a “significant” increase in its standard variable price cap on Thursday (7 February).
The Competition and Markets Authority (CMA) has decided to review the order it issued imposing a price cap on prepayment tariffs.