Energy Suppliers news, page 13
- 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.