Tariffs News: page 5
- February 2024
Fixed-rate energy tariffs return to the energy market
Fixed-rate energy tariffs have started returning to the UK energy market, according to Home Energy Scotland, which says households should weigh contract length and exit fees before signing up.
Government applies prepayment meter discount
The government has applied a discount on prepayment meters since February 2024 so that customers are not financially penalised for being moved onto one.
Ofgem decided to extend the BAT for a further year
Ofgem decided in February 2024 to extend the ban on acquisition-only tariffs for a further year, citing residual risk in removing it and the Market Stabilisation Charge at the same time.
Price cap announcement applies discount to prepayment standing charges
The February 2024 price cap announcement applied a discount to prepayment standing charges, making prepayment slightly cheaper than standard credit for the first time.
- January 2024
Minimum Supply Prices from 1 February 2024 added
Government guidance for heat network support under the Energy Bills Discount Scheme was updated on 31 January 2024 to set out the Minimum Supply Prices applying from 1 February 2024.
Warm This Winter releases third Tariff Watch report on standing charges
Warm This Winter's third Tariff Watch report identifies 14 obscure charges inside the Ofgem price cap that it says have pushed electricity standing charges up 119 per cent since winter 2020/21.
Coalition members call for social tariff in Spring Budget
End Fuel Poverty Coalition members called in January 2024 for a social tariff to be included in that year's Spring Budget, as part of a long-running campaign for energy tariff reform.
New UK-EU Rules of Origin scheduled to begin
The Society of Motor Manufacturers and Traders has warned that tougher UK-EU Rules of Origin begin on 1 January 2024, with electric vehicles traded both ways facing possible tariffs.
Good Energy launches Export Only tariff
Good Energy launched Export Only in January 2024, a 4p per kWh export tariff open to any household with a smart meter and a certified renewable installation, without requiring a Good Energy import deal.
Octopus Energy launches UK's first vehicle-to-grid tariff
Octopus Energy launched Octopus Power Pack, described as the UK's first vehicle-to-grid tariff, at the beginning of 2024, following a vehicle-to-grid trial with National Grid ESO in 2022.
Ofgem price cap rises in January 2024
A quarterly Tariff Watch report from the Warm This Winter coalition says 14 obscure charges, passed through standing charges, are keeping electricity bills at record levels after January's price cap rise.
Price cap expected to rise around 1% in January 2024
Cornwall Insight expects the Ofgem price cap to rise by around 1% in January 2024 after European gas prices rose again, taking a typical annual bill to about £1,932.
- December 2023
Octopus Electroverse launches Plunge Pricing
Octopus Electroverse launched Plunge Pricing at the end of 2023, cutting public charging prices during periods of high energy supply, with discounts that vary by event and operator.
- November 2023
Prepayment meter regional rates for January to March 2024 added
The government has published Energy Price Guarantee regional unit rates and standing charges for prepayment meters covering January to March 2024, the final quarter of the scheme.
Ofgem to announce January 2024 unit rates
Which? has said its published appliance running costs will be updated once Ofgem announces January 2024 unit rates, with those rates and the running costs expected to rise.
Ofgem publishes updated default tariff cap levels for 1 January to 31 March 2024
Ofgem has set the default tariff cap for 1 January to 31 March 2024, raising the dual fuel direct debit level to £1,928, a 5% increase on the previous quarter.
Statutory Consultation on levelling standing charges published
Ofgem has published a statutory consultation to level standing charges so prepayment and direct debit customers pay the same daily charge, alongside a price cap rise of 5% from January 2024.
Campaigners call on Chancellor for Emergency Energy Tariff and Help To Repay scheme
Health, poverty, housing and environmental organisations and academics have written to Chancellor Jeremy Hunt urging an Emergency Energy Tariff and a Help To Repay scheme for households in energy debt.
Emergency Energy Tariff proposals presented to Government
Proposals for an Emergency Energy Tariff, using the Energy Price Guarantee mechanism, were presented to Government to ease the energy bills crisis in winter 2023/24.
Good Energy Default tariff rates change for non Direct Debit customers
Good Energy has ended the Direct Debit discount for non Direct Debit customers on its Default tariff from 1 November 2023, raising rates for those paying by other methods.
Ofgem publishes statutory consultation on levelling standing charges
Ofgem has published a statutory consultation proposing to level standing charges between prepayment and direct debit customers, cutting bills for prepayment households by around £50 a year.
- October 2023
Utilita Power Payback service starts
Utilita told customers its Power Payback service would begin on 30 October 2023, paying them for cutting electricity use during notified events.
flexi-2023 cost components change at 1 October 2023
ScottishPower has published revised third party cost components for its flexi-2023 variable tariff, showing the values applied to unit rates and standing charges from 1 October 2023.
Good Energy launches Solar Savings smart export tariff
Good Energy has launched Solar Savings, a smart export tariff paying 15p per kWh and 20p per kWh for Wessex ECOEnergy solar customers, up from a 10p pilot rate.
Lower standing charges for prepayment households begin
From 1 October 2023 prepayment meter households pay lower standing charges than those on other payment methods, a change described by the Welsh Government as a welcome first step.
Ofgem re-publishes price cap levels for cap period 11a under new 2023 TDCV values
Ofgem has re-published the October to December 2023 price cap levels using new 2023 Typical Domestic Consumption Values, putting the dual fuel direct debit cap at £1,834.
Quarterly change to Flexi variable costs from 1 October 2023
ScottishPower has published the Flexi variable cost values that apply from 1 October 2023, showing quarterly changes to network, environmental and smart meter charges across its regional tables.
Second Warm This Winter Tariff Watch report published
The second Warm This Winter Tariff Watch report finds 337 fixed tariffs priced above the Ofgem price cap, an average exit fee of £138 and supplier operating costs of £242 per customer.
UNC mod 840 change reduces prepayment cap level
Ofgem's October price cap methodology change equalising Unidentified Gas allocation between prepayment and non-prepayment customers cuts the prepayment cap level by £51, part offset by a £9 bad debt allowance.
- September 2023
MCS responds to SEG confusion and sets out its future role
MCS has clarified that regulated Smart Export Guarantee tariffs require an MCS certified installation, while non-regulated export tariffs remain at energy companies' discretion, and has set out planned scheme changes.