2013 May news archive


29 May

Government urged by energy suppliers to back gas-fired power

Power stationEnergy UK has urged the Government to move faster with its plans for a capacity market set to encourage energy suppliers into further investing in low-carbon power generation such as gas-fired power stations. If action is not taken soon, the country could face a major shortfall in generating capacity according to the organisation - the ...

24 May

BT announces deal with npower to use 100% renewable energy power

Green Energy - Turbines WindmillsIn a significant move to make itself greener BT has announced a deal with UK energy provider npower to receive 100% of its power in the form of renewable energy. As part of the telecommunications giant's Better Future strategy, the move is set to make it one of the biggest companies in the world to ...

23 May

'Big Six' energy firm SSE announces retail profits up almost 27.5% to £410m

Gas ringThe 'Big Six' energy firm SSE has announced a significant rise of 27.5% in retail profits, seeing its operating profits soar to £410m. The energy provider announced the latest figures as part of a financial report under the sub-heading of " Retail: Earning the right to make a profit." As with a number of its ...

21 May

Research reveals UK energy bills up by as much as £250 per household

House inside a lightbulbNew research has shown energy companies have pushed up power bills by as much as £250 per household in the UK. The information, unearthed by shadow energy secretary Caroline Flint, revealed industry mark ups have gone up 39% in the case of electricity and 69% in the case of gas in the last ten years. ...

21 May

First Utility boss: Energy bills soon higher than mortgage repayments

Electricty pylonThe boss of a major UK gas and electricity supplier has warned energy bills could overtake the amount homeowners pay on their mortgages in the next five years. First Utility's Ian McCaig made the claims in light of new research from his firm which suggests the average UK dual-fuel bill has risen 8.5% - seeing ...

20 May

Ed Davey: 84% of energy consumers may be missing out on best deals

Green Energy PlugThe Government is looking to encourage more people to switch to different energy providers in order to cut down on energy bills and save money. According to energy secretary, Ed Davey, switching energy suppliers could save UK homes as much as £158 a year: However, 84%  of households have failed to capitalise on such opportunities, ...

20 May

Ofgem can soon force energy firms to compensate victims of mis-selling

Electrical dischargeNew powers will be handed to Ofgem in order to force energy giants to compensate any customers who have fallen foul to miss-selling. The UK energy regulator will be granted the extra powers to compensate consumers duped by rogue selling as well as fining any power supplier found guilty of such illicit practices. At present ...

17 May

Sources claim a deal is close at hand in EDF nuclear plans

Power stationThe will it won't it saga of EDF's proposed nuclear power plant site looks to have taken another new twist according to reports. This is Money has reported sources close to the matter have informed them 'the mood music has changed' on negotiations, with a deal now expected in the next couple of weeks. In ...

15 May

Centrica chairman raises concerns on the future of UK energy supplies

Electricity PylonThe president of the Confederation of Business Industry has warned the UK faces the genuine threat of lights going out, unless energy policy needs are resolved soon. Sir Roger Carr, who is also the chairman of British Gas owner Centrica, suggested energy firms may struggle to meet the country's energy demands if a resolution is ...

14 May

£11.7bn smart meter roll-out to 30 million UK homes delayed until 2014

Commercial constructionThe roll-out of over 30 million smart meters to UK homes is set to be delayed by more than a year, the Government has confirmed. The £11.7bn project was set to roll-out in 2014, but has now been delayed until the autumn of 2015 with the Department of Energy and Climate Change (DECC) suggesting the ...

13 May

With profits up, British Gas owner Centrica vows to hold energy prices

Burning Gas OvenBritish Gas owner Centrica has vowed to hold its energy prices at the same rate as it confirms it is well on the way to meeting profit expectations. The 'Big Six' energy company expects to see a seven per cent rise in group operating profits for the full year and has cited the long period ...

13 May

Ian Marchant deeply ashamed of SSE's £10.5m mis-selling fine by Ofgem

House inside a lightbulbThe boss of the 'Big Six' energy firm SSE has said he is ashamed of the huge amount of criticism surrounding his company over the mis-selling scandal it has been caught up in. Ian Marchant said he was 'deeply ashamed' after Ofgem hit SSE with a £10.5m fine for misleading customers on competitors' prices. The ...

09 May

Expert: Ofgem should send a message to firms missing carbon targets

Green Energy PlugAn industry expert has backed a new Ofgem investigation into six energy suppliers, suggesting the time is right for it to  'send a message'  to firms failing to reach preset targets. The energy regulator opened an investigation into firms including three of the 'Big Six' suppliers, British Gas, SSE and ScottishPower last week for missing ...

08 May

EDF Energy's Vincent de Rivaz to quit UK if Hinkley Point talks fail

Electricty pylonAccording to a new report, the chief executive of Big Six energy supplier EDF Energy will leave the UK if his firm's plans of building nuclear power plants at Hinkley Point collapse. The Times report suggests Vincent de Rivaz has staked his credibility on getting the plans off the ground, with the EDF boss ready ...

03 May

Ofgem launches investigation into six energy suppliers

Cooking surface and gas ringsOfgem has launched an investigation into six of the UK's  energy suppliers, who it has claimed have failed to meet targets on providing energy efficiency measures for consumers. The government regulator for gas and electricity markets in the UK is investigating ScottishPower, British Gas, SSE, GDF Suez/IPM, Intergen and Drax. It stated that whilst energy ...