Energy Suppliers News: page 11
- February 2023
Ofgem agrees moratorium on involuntary PPM installations
Ofgem agreed a moratorium with suppliers in February 2023 pausing involuntary prepayment meter installations and remote smart meter mode switches, after evidence that existing rules may not have been followed.
Ofgem issues Provisional Order banning British Gas from forced PPM installations
Ofgem has issued a Provisional Order temporarily banning British Gas from forced prepayment meter installations and remote mode switches, and opened an urgent investigation into the supplier.
Ofgem publishes ECO3 Final Determination Report
Ofgem's final report on the Energy Company Obligation 3 confirms suppliers exceeded the scheme's £8.25bn bill-saving target, while Co-operative Energy met only 36.4% of its own obligation.
Times investigation exposes forced prepayment meter practices of major suppliers including British Gas
An undercover Times investigation published on 1 February 2023 exposed forced prepayment meter practices at major suppliers including British Gas, triggering a voluntary industry pause and an ongoing Ofgem investigation.
- January 2023
Ofgem prepayment meter compliance review concluded
Ofgem has concluded its prepayment meter compliance review, with compensation due to customers of eight suppliers who had meters wrongly installed between 1 January 2022 and 31 January 2023.
Ofgem to review supplier decisions to move customers to prepayment
Ofgem will review whether energy suppliers took enough care before moving customers onto prepayment meters, as the government demands firms stop forced switches.
Citizens Advice responds to the BEIS ECO+ consultation
Citizens Advice has told the government its ECO+ energy efficiency scheme, with a £1bn budget over three years and a 410,000 household target, could be far more ambitious.
Bulb special administration adviser costs reach £49.9 million
Special administration costs for Bulb, including its administrators, their legal advisers and Lazard, reached £49.9 million by the end of January 2023 and are expected to reach around £60 million.
E.ON Next and Shell Energy join the Vulnerability Commitment
E.ON Next and Shell Energy joined the Energy UK Vulnerability Commitment at the start of 2023, taking it to 13 signatories covering more than 90% of the UK domestic retail market.
Ofgem introduced stringent new rules for prepayment meter installations
Ofgem brought in stringent new rules for prepayment meter installation in 2023, after suppliers failed to follow the rules on forced installation, a later government review confirms.
Ofgem opens investigation into British Gas over PPM practices
Ofgem has opened an investigation into British Gas and a Market Compliance Review into prepayment meter practices, alongside a consultation on strengthening protections for involuntary prepayment meter installations.
So Energy and Hometree partnership begins with Home Cover launch
So Energy and Hometree Finance launched a solar payment plan letting homeowners in England and Wales spread installation costs from £75 a month over five to twenty-five years.
- 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.