Tariffs news, page 4
- October 2024
Ofgem minded to remove ban on acquisition-only tariffs from 1 October 2024
Ofgem has said it is minded to lift the ban on acquisition-only tariffs from 1 October 2024, prompting a coalition of consumer groups and suppliers to urge it to reconsider.
Public support for energy social tariff surges ahead of the Budget
Opinium polling for the Warm This Winter campaign puts public support for an energy social tariff at 75 per cent, up from 57 per cent before the General Election, ahead of the Budget.
- September 2024
Consumer Scotland responds to Ofgem standing charges options paper
Consumer Scotland has told Ofgem that shifting suppliers' fixed costs from standing charges to unit rates would penalise households with high essential energy use, including those in Scotland.
EDF launches cheapest energy-only fixed tariffs among major suppliers
EDF has launched a one-year fixed tariff at £1,649 and a two-year fixed tariff at £1,669, both below October 2024's £1,717 price cap, alongside a one-year tariff tracking £50 below the cap.
ScottishPower launches EV Optimise add-on for EV drivers
ScottishPower has launched EV Optimise, an add-on that smart charges electric vehicles at 9p per kWh day and night and credits savings back to the customer's electricity bill.
Share Energy launches as newest Northern Ireland electricity supplier
Share Energy, based in Belfast, launched in September 2024 as the newest electricity supplier in Northern Ireland, claiming it will share half of future profits with customers.
- August 2024
Ofgem to confirm actual October price cap level
Ofgem was due to publish the actual October to December 2024 price cap on 23 August, with analysts and campaigners expecting a rise of around 10 per cent for a typical household.
Ofgem publishes standing charges options paper
Ofgem has published an options paper on reducing domestic standing charges by £20 to £100 a year and asked suppliers to offer no or low standing charge tariffs, with feedback open until 20 September 2024.
Ofgem sets price cap for 1 October to 31 December 2024
Ofgem has set the energy price cap for 1 October to 31 December 2024 at £1717 a year for a typical Direct Debit household, a 10% rise, and opened a consultation on standing charges.
Cornwall Insight predicts October price cap rise for typical households
Cornwall Insight has predicted that the October price cap will rise by around 10 per cent, adding approximately £150 a year to the bills of a typical dual fuel household, with Ofgem due to confirm the level on 23 August.
Hypervolt releases beta of Octopus Intelligent Go support for v3 customers
Hypervolt has opened a limited beta of Octopus Intelligent Go support for owners of its Home 3 and Home 3 Pro chargers, with testing through August and wider rollout planned by the end of the year.
- July 2024
Consumer Scotland publishes response to Ofgem consultation on acquisition-only tariffs ban
Consumer Scotland has published its response to Ofgem's statutory consultation on the future of the ban on acquisition-only energy tariffs, dated 8 July 2024.
Energy Price Guarantee ceased applying to tariffs
The Energy Price Guarantee stopped applying to tariffs on 1 July 2024, ending the scheme that capped supplier rates and required landlords to pass on discounts to tenants.
Good Energy launches fixed EV tariff with Zapmap Premium benefit
Good Energy has launched a fixed electric vehicle tariff with a five-hour overnight rate of 7.4p per kWh and a free Zapmap Premium subscription, available from 1 July.
Octopus introduces third off-peak period for Cosy Octopus
Octopus Energy added a third off-peak window, 10pm to 12am, to its Cosy Octopus heat pump tariff in July 2024, giving eligible households eight hours of cheaper electricity a day.
- June 2024
Coalition writes to Ofgem urging it not to lift ban on acquisition-only tariffs
Which? and a coalition of energy firms and consumer groups have written to Ofgem urging it not to lift the ban on acquisition-only tariffs, which allow suppliers to offer cheaper deals to new customers only.
Cornwall Insight forecasts October 2024 price cap rise to £1,724
Cornwall Insight forecasts issued on 28 June 2024 point to the Ofgem price cap rising by more than £150 to £1,724 from October, ending the summer's small reduction.
OVO and Hypervolt launch Charge Anytime integration
Hypervolt has announced that its home EV chargers are now compatible with OVO's Charge Anytime add-on, which charges at 7p per kWh and can be controlled from the Charge Anytime app.
- May 2024
Ofgem confirms energy price cap for July to September 2024
Ofgem has confirmed the energy price cap will fall by 7% from 1 July to 30 September 2024, giving a typical dual fuel direct debit household an annual bill of £1,568.
NEA responds to DESNZ call for evidence on default energy tariffs
National Energy Action has told the government that the price cap's consumer benefits should be kept while reform tackles multi-rate meters and a social tariff is consulted on.
Zapmap suspends EV energy tariff comparison service
Zapmap has suspended its EV energy tariff comparison service, saying it will resume when appropriate, leaving drivers without one route to compare off-peak charging rates.
Ofgem publishes benchmark maximum charges for Charge Restriction Period 12b
Ofgem has published the regional benchmark maximum charges for gas and electricity under the default tariff cap for Charge Restriction Period 12b, with all values given exclusive of VAT.
- April 2024
EDF launches Essentials 1Yr May25 fixed tariff
EDF has launched Essentials 1Yr May25, a one-year fixed tariff priced at £1,580, which it says is £110 below the current price cap and the cheapest offered by any large supplier.
Non-MCS export application approved and exports live
A household whose solar installer was not MCS-registered has had its non-MCS export application approved by Octopus Energy, with exports going live on 11 April 2024.
2024 Flexi Product variable charges take their 1 April 2024 values
ScottishPower has published the component unit rates and standing charges that make up its Flexi Product variable costs from 1 April 2024, with a second set of values shown for 1 October 2024.
Energy Price Guarantee replaced by levelisation scheme
The Energy Price Guarantee's prepayment unit rate discount was replaced on 1 April 2024 by a non-volumetric payment levelisation scheme that shifts costs between payment methods.
Market Stabilisation Charge to be removed
The Market Stabilisation Charge, a temporary levy paid between suppliers when customers switch, is to be removed in April 2024, Energy UK has said in an explainer on price cap cost recovery.
OVO electricity standing charge rises to 60.31p per day
A customer on the OVO community forum reports their electricity standing charge rising from 43.39p per day in 2023 to 60.31p per day from 1 April 2024, and asks why.
Standing charges rise as unit costs fall slightly from 1 April
Electricity standing charges rise 13% and gas standing charges 6% from 1 April 2024, while unit costs fall slightly, as analysis puts energy firm profits at over £420 billion since the crisis began.
- March 2024
Market Stabilisation Charge expired
The Market Stabilisation Charge expired on 31 March 2024, removing a levy that suppliers could previously apply when a household switched away from them during the energy crisis.