Tariffs News: page 9
- February 2022
Ofgem decides to proceed with licence modification enabling in-period adjustments to the default tariff cap
Ofgem has confirmed it will change supply licences so it can recalculate the default tariff cap inside a cap period, under five tests, in exceptional circumstances.
Ofgem publishes policy consultation on medium term price cap changes
Ofgem has published a policy consultation on medium term changes to the energy price cap, proposing quarterly updates, a reduced notice period and a backwardation mechanism.
Energy price cap increase announced
Turn2us has responded to the announcement of a higher energy price cap, warning that millions of households face uncertainty over their finances and calling for more targeted government support.
OFGEM announces 54% energy price cap rise
Ofgem has confirmed a 54% rise in the energy price cap, taking average direct debit bills to as much as £1,971 from April and prepayment bills to £2,017.
Ofgem decides in-period adjustments to the Default Tariff Cap will be forward looking only
Ofgem has decided that any in-period adjustment to the Default Tariff Cap will apply only for the remainder of the cap period, not retrospectively, under a new licence power.
- January 2022
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.
NEA responds to Ofgem consultation on short term price cap changes
National Energy Action has told Ofgem that doing nothing is the best of the short term price cap options for fuel poor households, opposing exit fees on standard variable tariffs.
Crowdflex study finds domestic flexibility could cut peak demand by up to 23 percent
A study of 25,000 households by SSEN, National Grid ESO, Octopus Energy and Ohme found that homes on time-of-use tariffs cut evening peak demand by 15 to 17 percent, with electric vehicle owners reaching 23 percent.
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.