Small energy suppliers will have to undergo more stringent tests before they can set up shop in the UK under new plans drawn up by the regulator following a spate of recent failures.
Energy giant SSE has been fined £700,000 by regulator Ofgem for missing last year’s target to install gas smart meters for customers.
Four major regulators need to do more to prove they are effectively responding to consumer concerns or offering enough protection to those who need it, the spending watchdog has found.
Plans for a subsea electricity cable linking Shetland to the mainland have been provisionally approved by the energy regulator.
Ofgem has threatened Avro Energy with a ban from taking on new customers if it has not signed up to a new smart meter wireless network by the end of May.
Small energy supplier Solarplicity has been banned by Ofgem from taking on new customers and increasing direct debits payments as a result of poor customer service.
British Gas owner Centrica has warned that its financial performance in 2019 will be hit by the energy regulator’s tariff price cap as it reported a double-digit increase in annual operating profits.
More than a million energy customers on EDF’s standard variable tariff face a 10% price increase from April 1.
Some E.ON customers will see an average 10.3% price increase from April 1, the supplier has confirmed, just days after Ofgem said price caps designed to protect those on poor value deals would be hiked.
Our Power has become the latest small energy supplier to go bust, leaving thousands of customers in limbo.
The energy regulator has increased its price cap on variable tariffs due to rising wholesale prices.
The cost of charging electric vehicles could be reduced under proposals set out by the electricity market regulator.