Energy Suppliers news from 2022
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- December 2022
Bulb sale process concluded
The sale of Bulb Energy concluded on 20 December 2022 after a 10-month process, with its 1.5 million customers transferred to HiveCo, owned by the Octopus Energy Group.
Octopus completes Bulb transaction
Octopus Energy completed its purchase of Bulb's customers, business assets and liabilities, including customer credit balances, on 20 December 2022, shortly after the price cap observation window opened.
Octopus purchases Bulb for £113 million
Octopus Energy paid the government £113 million for Bulb in December 2022, under a sale that left taxpayers funding wholesale costs and facing a shortfall.
Energy UK publishes briefing on supplier support for customers as bills rise
Energy UK has published a briefing setting out the support energy suppliers give customers, including around £54 million of discretionary help on top of more than £1 billion in mandatory schemes each year.
British Gas makes £12 million donation to Energy Support Fund
British Gas has donated £12 million to its Energy Support Fund, double its previous contribution and more than a tenth of first half pre-tax profits, as suppliers widen help with bills.
Directions No. 1 issued for Northern Ireland energy suppliers
The Secretary of State for Energy Security and Net Zero issued Directions No. 1 under the Energy Prices Act 2022, requiring Northern Ireland domestic suppliers to seek agreement before changing tariffs on any day other than the first of a quarter.
Energy Ombudsman launches dispute resolution scheme for energy broker market
The Energy Ombudsman launched a dispute resolution scheme for the energy broker market in December 2022, extending its remit to microbusiness consumers who use brokers.
Octopus doubles Octo Assist hardship fund to £15m
Octopus Energy has doubled its Octo Assist hardship fund to £15 million, after earlier increases from £5 million to £7 million, as suppliers expand discretionary support for customers.
Octopus Energy takes on 1.5 million customers from Bulb
Octopus Energy took on an additional 1.5 million customers from Bulb in December 2022, a transfer that reshaped the supplier market and lifted its customer base.
OVO announces £50m Customer Support Package
OVO has announced a £50m Customer Support Package for winter 2022, including payment holidays on prepayment debt, a 200% rise in emergency top-up credit and a partnership with the Trussell Trust.
OVO Energy introduces temporary ban on forced prepayment meter installations over Christmas
OVO Energy has paused forced prepayment meter installations over Christmas and suspended debt recovery until at least March 2023, but says forced installations will resume in the new year.
OVO Energy suspends debt recovery until at least March 2023
OVO Energy has suspended debt recovery until at least March 2023, so prepayment top-ups pay only for usage and standing charges rather than existing arrears.
- November 2022
Citizens Advice responds to ECO+ scheme and Help for Households campaign expansion
Citizens Advice has welcomed extra funding for energy efficiency measures under the ECO+ scheme but says an energy saving campaign must be matched by continued financial support for households in crisis.
Ofgem opens statutory consultations on supplier financial resilience measures
Ofgem opened statutory consultations on 25 November 2022 covering new capital adequacy requirements, ringfencing of Renewables Obligation balances and powers to direct ringfencing of credit balances.
Pre-payment Meters (Self-disconnection) Bill receives First Reading
Anne McLaughlin's Ten Minute Rule Bill on prepayment meter self-disconnection received its First Reading on 19 October 2022, seeking a grace period before disconnection and debt management support.
Citizens Advice responds to Ofgem review into support for vulnerable customers
Citizens Advice has called on energy suppliers to do everything in their power to identify and support struggling customers, after Ofgem's review into support for vulnerable customers.
Ofgem completes Market Compliance Review of supplier support for vulnerable customers
Ofgem has completed a Market Compliance Review of how suppliers support customers in vulnerable situations, rating all suppliers into three groups and requiring improvement plans from every one.
Ofgem writes to suppliers on remote switching of smart meters to prepayment mode
Ofgem wrote to energy suppliers in November 2022 setting out their licence obligations when remotely switching smart meters to prepayment mode, citing concern over the practice.
Citizens Advice publishes report on digital disadvantage and exclusion in the energy market
Citizens Advice has published a report finding that digitally disadvantaged households face a higher risk of loyalty penalties in the energy market while the offline services they depend on are getting worse.
Power NI changes bill layout for price changes
Power NI has changed how its bills show charges when a price change falls inside a billing period, splitting units and standing charges into before and after lines.
- October 2022
Power NI announces residential price decrease from 1 November 2022 under Energy Price Guarantee
Power NI has announced a 10 per cent cut to residential electricity bills from 1 November 2022, as the Energy Price Guarantee discount offsets an underlying tariff increase agreed with the Utility Regulator.
Citizens Advice published its response to the REMA consultation
Citizens Advice has told the government's Review of Electricity Market Arrangements that consumer interests must be built into reform from the start, warning that poor design could leave vulnerable households worse off.
Octopus Energy and Halifax announce heat pump pilot scheme
Octopus Energy and Halifax have announced a pilot scheme offering Halifax mortgage customers air source heat pumps for as little as £2,000 fully installed, according to analysis published by the Energy and Climate Intelligence Unit.
Octopus Energy identified as acquirer of Bulb
Octopus Energy was named in October 2022 as the buyer of Bulb's customers, business assets and liabilities, including customer credit balances, after a sale delayed from the summer.
Octopus Energy takes over Bulb customers
Bulb's customers were moved to Octopus Energy in October 2022 under Ofgem's Supplier of Last Resort process, ending the largest supplier failure of the energy crisis.
- August 2022
Citizens Advice says latest price cap forecasts show no time to waste on further support
Citizens Advice has responded to the latest Cornwall Insight price cap forecast by calling on the government to raise benefits in line with the cost of living, saying there is no time to waste.
- July 2022
NEA publishes response to Ofgem retail financial resilience and Direct Debit consultation
The National Energy Action charity has told Ofgem that proposed financial resilience rules for suppliers should only go ahead if they do not push up the price cap, while backing stronger Direct Debit rules.
Citizens Advice publishes research on consumer impact of energy supplier failures
Citizens Advice research published on 10 July 2022 finds 28 energy supplier failures since August 2021 affected over 4 million customers and calls for reform of failure and Special Administration processes.
UK Energy Incubator Hub closes and its customers move to Octopus Energy
UK Energy Incubator Hub closed on 9 July 2022 and Ofgem appointed Octopus Energy to take on its customers under the Supplier of Last Resort process.
Central Switching Service introduced
The Central Switching Service began operating in July 2022, cutting the time a household needs to change energy supplier to five working days, according to the body that runs the national smart meter network.
Flexi variable costs updated for the quarter from 1 July 2022
ScottishPower has published the variable cost components of its Flexi tariff for the quarter beginning 1 July 2022, with Balancing Services Use of System falling and several regional distribution standing charges changing.
- June 2022
Citizens Advice responds to BEIS consultation on changes to the Energy Bills Support Scheme
Citizens Advice has backed the government's decision to raise the Energy Bills Support Scheme payment to £400 and make it a grant, while warning that prepayment meter customers and those in arrears could miss out.
Citizens Advice launches Energy Price Support Review with SMF and Public First
Citizens Advice has announced an Energy Price Support Review with the Social Market Foundation and Public First, to report in Spring 2023 on long-term help for households struggling most with energy bills.
Citizens Advice warns 585,000 private renters risk missing energy bill support
Citizens Advice says 585,000 private renters whose landlords control their energy bills may be unable to claim the £150 Warm Home Discount and the £400 grant due in October.
Energy firms made 187,000 PPM warrant applications in six months
Freedom of information requests showed energy firms applied for 187,000 warrants to force households onto prepayment meters in the first six months of 2022, part of 500,000 since lockdown ended.
Government introduces four-year smart meter regulatory framework
The government introduced a four-year regulatory framework with binding targets for suppliers in 2022, as the National Audit Office reports the rollout remains years behind its original completion date.
- May 2022
Oxera publishes review of Ofgem's role in retail market collapse
An Ofgem-commissioned review by consultancy Oxera, published on 3 May 2022, examined the regulator's role in the collapse of 29 Great British energy suppliers between July 2021 and May 2022.
- April 2022
Electricity standing charges jumped by more than 80% in April 2022
Electricity standing charges under the price cap rose by more than 80% in April 2022, driven mainly by supplier of last resort costs added to network cost allowances.
Ofgem publishes ring-fencing proposals
Ofgem published proposals in April 2022 to ring-fence customer credit balances and Renewables Obligations payments, part of a financial resilience push after 29 supplier failures.
Supplier allowance reduced by 50% from phase 1 of ECO4
The government has cut the ECO4 supplier allowance by half and set out final scheme rules for 2022 to 2026, with obligations calculated on supply volumes above 150GWh of electricity and 350GWh of gas a year.
- March 2022
British Gas adds £2 million to Support Fund, taking it to £6 million
British Gas Energy has added £2 million to its Support Fund, taking it to £6 million, to help customers struggling to pay energy bills as living costs and inflation rise.
ECO3 scheme closes with 16 of 26 obligated suppliers still operating
Ofgem's final determination for the Energy Company Obligation 3 scheme shows ten of 26 obligated suppliers left the market during its run, leaving a £135 million shortfall covered by others.
Four SEG licensees exited the market due to insolvency during SEG Y2
Ofgem's second Smart Export Guarantee annual report shows four licensed suppliers left the electricity market through insolvency during 2021-22, so no data was received from them.
Supplier websites and apps fail under meter reading demand
British Gas, EDF, Eon and Octopus reported website and app problems on 31 March 2022 as households rushed to submit meter readings before the energy price cap rose the next day.
Warm Home Discount payments due by end of March 2022
Households that qualified for the winter 2021/2022 Warm Home Discount were due to receive their one-off payment by 31st March 2022, with applications for that year now closed.
British Gas completes first air source heat pump installation in Devon
British Gas has completed its first air source heat pump installation for a household customer, at a home in Ivybridge, Devon, fitted through its partnership with Daikin.
- February 2022
Whoop Energy and Xcel Energy cease trading
Whoop Energy and Xcel Energy ceased trading on 18 February 2022, and Ofgem appointed Yu Energy to take on their customers, the Energy Ombudsman has confirmed.
Government announces £693 energy price cap rise and bill support measures
Citizens Advice has called the government's package of support for a £693 rise in the energy price cap strange, complicated and untargeted, as record numbers seek crisis help.
SSEN restores all reported faults after Storms Malik and Corrie
SSEN has restored all reported customer faults after Storms Malik and Corrie, reconnecting more than 120,000 homes in the north of Scotland following gusts of over 90mph.
27 energy retail companies had exited the market since August 2021
Energy UK reports that 27 energy retail companies have left the market since August 2021, affecting almost 2.3 million households, with supplier of last resort costs of around £2.6 billion to date.
Bulb collapse takes households affected by failed suppliers above 3.7 million this year
Green Alliance says 21 energy suppliers have collapsed since the start of September, and that Bulb's failure has taken the number of households affected by a failed supplier above 3.7 million this year.
Bulb sale process launched
The sale process for Bulb Energy, the largest supplier failure of the 2021 crisis, was launched in February 2022 and took ten months to complete, ending in a government sale to Octopus Energy.
Ofgem decides to add SoLR charge to domestic gas unit rates
Ofgem confirmed in February 2022 that the costs of supplier failures would be recovered through a volumetric charge on domestic gas unit rates, adding to household bills.
- January 2022
Together Energy ceases trading
Together Energy ceased trading on 18 January 2022, the Energy Ombudsman has confirmed, adding that it has now issued a written update to affected consumers.
Together Energy exits the market with British Gas as Supplier of Last Resort
Together Energy (Bristol E.) ceased trading on 18 January 2022 and its customers were moved to British Gas under the Supplier of Last Resort process, Ofgem's Warm Home Discount report confirms.
Together Energy Retail Ltd customers move to British Gas
British Gas has taken on the 176,000 domestic customers of Together Energy Retail Ltd, which exited the market on 18 January 2022, under Ofgem's supplier of last resort process.
Citizens Advice responds to Ofgem consultation on short-term interventions to address market volatility
Citizens Advice has opposed Ofgem proposals to allow exit fees on default tariffs, while backing a requirement for suppliers to offer new tariffs to existing customers.
Citizens Advice responds to BEIS consultation on market-based mechanism for low-carbon heat
Citizens Advice has told BEIS that the Boiler Upgrade Scheme needs wider financial support, a single mandatory accreditation body and clearer guidance for manufacturers if low-carbon heat is to work for households.
Power NI raises domestic electricity prices by 21.4%
Power NI raised domestic electricity prices by 21.4 per cent from 1 January 2022, adding £131 a year to the average household bill in Northern Ireland.