Tariffs news, page 8
- January 2023
Energy price cap forecast to reach £4,266 a year from January 2023
Forecasts put the energy price cap at £4,266 a year for a typical household from January 2023, up from the £2,800 expected earlier in 2022, with low-income homes facing the sharpest squeeze.
EPC fuel prices updated with increases to all fuels
The January 2023 six monthly update to the fuel prices behind Energy Performance Certificates raised every fuel, but the new figures remain far below what households actually pay.
- December 2022
Joint letter sent to energy firms over prepayment voucher access
Five consumer and energy organisations have written to energy suppliers calling for immediate action after a third of Energy Bill Support Scheme vouchers sent to traditional prepayment customers went unredeemed.
Ofgem criticised over continued remote switching to prepayment
MPs have criticised Ofgem for failing to act on remote switching of smart meters to prepayment mode, six weeks after the regulator called the practice unacceptable.
Charter debt repayment reduction takes effect for prepayment customers
Electricity and gas suppliers in Northern Ireland have cut the maximum debt repayment deduction for prepayment customers from 40 per cent to 20 per cent, under a voluntary charter running to 31 March 2023.
equiwatt took part in National Grid's Demand Flexibility Service
equiwatt took part in National Grid's Demand Flexibility Service in winter 2022/23, the company has confirmed, and is now trialling automated energy saving features with Energy Systems Catapult.
- November 2022
Rates for January to March 2023 added
The government added Energy Price Guarantee regional unit rates for January to March 2023 to its published tables, setting the maximum amounts suppliers could charge under the scheme.
Ofgem publishes Default Tariff Cap level for 1 January 2023 to 31 March 2023
Ofgem has published the Default Tariff Cap level for 1 January to 31 March 2023, raising the dual fuel direct debit cap by 21 per cent to £4,279.
Which? responds to low redemption of Energy Bill Support Scheme vouchers among prepayment customers
Which? has called on energy firms and the government to work with top-up outlets to find out why a third of traditional prepayment customers have not redeemed Energy Bill Support Scheme vouchers.
EPG NI scheme confirmed already in force
Lord Callanan told the Lords Grand Committee on 16 November 2022 that the energy price guarantee Northern Ireland scheme is already in force, as regulations defining domestic supply were considered.
Demand Flexibility Service launched
The Demand Flexibility Service, which pays households to cut electricity use at peak times, launched for winter 2022/23 after Ofgem approval, with 1.6 million homes and businesses taking part in its first season.
Energy Price Guarantee benefits begin to be passed through in Northern Ireland
Households in Northern Ireland began receiving Energy Price Guarantee support through their suppliers from 1 November 2022, with the benefit set to cover increased costs back to 1 October.
Tesco ends free EV charging at its stores
Tesco ended free electric car charging at its stores on 1 November 2022, introducing fees for every charger regardless of speed, with rates later rising in March 2023.
- October 2022
Energy Costs (Pre-payment Meters and Social Tariffs) Bill receives First Reading
Kenny MacAskill's Ten Minute Rule Bill on prepayment meters and social tariffs had its First Reading on 19 October 2022, seeking to end higher standing charges for prepayment customers.
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.
Energy Price Guarantee regional rates page first published
The government first published its Energy Price Guarantee regional rates page on 7 October 2022, setting out the maximum unit rates suppliers could charge under the scheme in England, Scotland and Wales.
Autumn Statement 2022 announces EPG increase
The Autumn Statement 2022 raised the Energy Price Guarantee to £3,000 for typical annual household consumption from April 2023 and extended it to the end of March 2024.
Energy bills to rise 64% on last winter
The End Fuel Poverty Coalition says energy bills will rise by 64 per cent against last winter within a week of the Chancellor's mini-Budget, with 6.99 million UK households forecast to be in fuel poverty.
Energy bills to rise for variable tariff customers under the Energy Price Guarantee
Households on variable tariffs face an average 27% rise in bills from 1 October 2022 under the Energy Price Guarantee, and suppliers are raising direct debits to cover the extra cost.
New energy price cap to push bills up by 80 per cent for variable tariff customers
Which? reports that the energy price cap taking effect on 1 October 2022 will raise bills by 80 per cent for households on variable tariffs, with appliance running costs rising sharply.
Energy unit prices surge overnight as Energy Price Guarantee takes effect
Combined electricity and gas unit costs rose by between 23% and 27% overnight on 1 October 2022 as the Energy Price Guarantee took effect, with the level depending on payment method and location.
Household energy bills rose 27%
Typical household energy bills rose by 27% in October 2022, following a 54% increase in April, according to parliamentary research on domestic energy prices.
New unit rates and standing charges take effect under the EPG
From 1 October 2022 the Energy Price Guarantee replaced the planned price cap, setting variable tariff unit rates at around 34p per kWh and standing charges at 46p per day for direct debit customers.
- September 2022
tado° acquired aWATTar in 2022
tado° has confirmed that it acquired aWATTar, a pioneer in dynamic energy tariffs, in 2022, as part of its push into home energy management and tariff-linked device control.
- August 2022
Ofgem publishes default tariff cap levels for cap period 9a
Ofgem has set the default tariff cap for 1 October to 31 December 2022 at £3,549 a year for a typical dual fuel direct debit household, an increase of 80 per cent.
SSEN launches HOMEflex project for domestic flexibility market
SSEN Distribution has launched a two-year project, backed by £331,000 in Network Innovation Allowance funding, to build household and microbusiness trust in the domestic flexibility market.
Ofgem moves default tariff cap to quarterly updates
Ofgem confirmed in August 2022 that the default tariff cap would be updated every three months instead of every six, changing how often household energy prices are reviewed.
Ofgem decides to extend MSC and BAT until March 2023
Ofgem has decided to extend the Market Stabilisation Charge and the Ban on Acquisition-Only Tariffs until March 2023, with a further consultation proposing an extension to March 2024.
Ofgem decides to use a lower quartile benchmark for unexpected SVT demand costs in the default tariff cap
Ofgem has decided to add £41 to the default tariff cap for typical dual fuel non-prepayment customers from 1 October 2022, using a lower quartile benchmark for unexpected standard variable tariff demand costs.
- July 2022
Ofgem CEO tells MPs October cap rise will exceed previous prediction
Ofgem's chief executive told MPs the October price cap will rise by more than the £800 previously predicted, as forecasters put winter bills near £3,300.