Electricity market still not competitive
Energy News April 12th, 2007Research conducted by Warwick University conlcudes that the market in domestic electricity is still not fully competitive, a full 8 years after it was opened up in 1999.
Gas exporters to examine prices
Energy News April 12th, 2007Major gas exporting countries including Russia, Iran and Algeria are to set up a ‘high level committee’ to discuss issues surrounding supplies and pricing. The countries, who together account for around 70% of world reserves, say that they have no plans to set up a price fixing cartel similar to Opec.
Read more at BBC News - Gas producers dismiss cartel talk
British Gas Slashes Prices
British Gas February 13th, 2007Troubled energy giant British Gas has announced large cuts in the price of it’s energy. From March 12th, customers on standard tariffs will see their gas costs cut by 17%, while electricity bills will be cut by 11%.
4m Customers Leave British Gas
British Gas January 18th, 2007New figures show that the British Gas customer leak continues apace, with the energy giant losing another 4 million customers in 2006.
Ofgem warns energy companies over prices
Energy News September 14th, 2006Energy regulator Ofgem has warned supply companies that they would ‘go after’ any who failed to pass on lower wholesale gas prices to their customers.
Wholesale prices have recently dropped around 20% from their high point, and as new supplies come onstream the regulator says it is optimistic that further cuts will be in the offing.
Npower announces third price rise this year
Npower September 7th, 2006Npower’s six million customers face higher bills from October ater the company announced a new round of price rises, the third this year.
From October 1st, gas prices will go up by 17.2% while electricity will be 9.9% more expensive.
Poor hit hardest by energy cost increases
Energy News September 6th, 2006A coalition of charities and consumer groups have said that the poor are disproportionately affected by spiralling energy costs, with a higher percentage of low-income households using pre-payment meters which can cost up to £173 a year more than the same amount of energy paid for by direct debit.
Winter fuel supplies ‘uncertain’
British Gas, Energy News August 28th, 2006The owners of British Gas have warned of possible winter fuel shortages, saying that supplies are set to be ‘uncertain’.
Powergen Price Rise Arrives
Powergen August 18th, 2006As widely predicted, Powegen have again raised their prices by a substantial amount - 18.4% for gas and 9.7% for electricity. The new tariff will take effect from Monday.
Powergen are the last major UK energy supplier to implement a second price hike this year, following rises of 25% and 18% in March.
Powergen’s parent company has recently announced a 26% drop in profits, although the pre-tax profit figure was still a healthy looking £304m.
Powergen prices under pressure as profits drop
Powergen August 17th, 2006Britain’s 6 million customers of Powergen are bracing themselves for further price rises after parent company E.ON announced a significant dip in UK profits. Pre-tax profits for UK operations fell by 26% to £304m in the first half of the year.
