Rules and Regulation News: page 46
- September 2022
Energy Markets Financing Scheme announced jointly by HM Treasury and Bank of England
HM Treasury and the Bank of England have announced a joint Energy Markets Financing Scheme to address liquidity requirements faced by energy firms in UK wholesale gas and electricity markets, designed as a last resort.
Government announces lifting of moratorium on UK shale gas production
The government has lifted the moratorium on UK shale gas production and set out a two-year Energy Price Guarantee limiting a typical household bill to £2,500 a year from 1 October.
Government announces two-year Energy Price Guarantee at £2,500 for typical household from 1 October 2022
The government has announced an Energy Price Guarantee limiting a typical UK household to £2,500 a year for two years from 1 October 2022, superseding the energy price cap.
Liz Truss announces energy support package
Liz Truss has announced an energy support package setting the Energy Price Guarantee at £2,500 a year for the average Great Britain home, capping business costs for six months and lifting the fracking ban.
Liz Truss appointed Prime Minister with 57.4% of the vote
Liz Truss has been appointed Prime Minister with 57.4% of the vote, and the National Insulation Association has summarised her stated positions on decarbonisation, net zero and the cost of living.
E3G publishes recommendations for UK emergency energy response
E3G has published a briefing urging emergency financial support, £5bn of energy efficiency investment, energy market reform and green finance regulatory reform in response to rising UK energy bills.
ASC provision increased considerably since the beginning of the gas crisis
Ofgem has reported that monthly provision of Additional Support Credit to vulnerable prepayment customers rose from around £4m before September 2022 to between £8m and £18m a month.
Citizens Advice published Out of the cold calling for a winter moratorium on forced prepayment meter installation
Citizens Advice has called for a winter moratorium on the forced installation of prepayment meters, warning that millions of households are disconnecting because they cannot afford to top up.
Green levies to be moved from bills to general taxation
Liz Truss confirmed that green levies which partly pay for insulating poorer homes will move off household energy bills and onto general taxation, a change backed by NGOs and the energy industry.
Mini-Budget announces £1bn ECO expansion from April 2023
The Chancellor's Plan for Growth adds £1bn to the Energy Company Obligation over three years from April 2023, targeted at vulnerable households in the least efficient homes.
Mini-Budget ends effective ban on onshore wind in England
The Chancellor's mini-Budget of September 2022 ended the effective ban on building onshore wind in England and added GBP1bn to a scheme that installs energy saving measures in fuel poor homes.
Revised electricity storage requirements came into effect
Revised technical and compliance requirements for electricity storage in EREC G98 and G99 took effect from September 2022, aligning storage with other generating units on Great Britain's distribution networks.
Warm This Winter petition passes 110,000 signatures shortly after launch
The Warm This Winter petition passed 110,000 signatures within days of launching, as the End Fuel Poverty Coalition estimated 12 million UK households would face fuel poverty this winter.
- August 2022
JRF publishes energy price analysis of August 2022 price cap and Cornwall Insight forecasts
The Joseph Rowntree Foundation has published a briefing on the August 2022 Ofgem price cap and new Cornwall Insight forecasts, warning that low-income households face severe financial harm.
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.
Period 9a cap level announced with separated additional risk allowance approach
Ofgem has set out how it split the wholesale additional risk allowance into two parts for the October to December 2022 price cap, to prevent suppliers recovering more than the efficient cost of hedging.
Resolution Foundation publishes report on policy options for soaring energy prices
The Resolution Foundation has published a report setting out policy options for soaring energy prices, proposing either a social tariff for poorer households or universal price cuts recouped through income tax.
Nesta calls for COVID-style government response to cut household gas use 20% by next winter
Nesta has urged the government to set a target of cutting household energy demand by 20% by next winter, through boiler settings, smart thermostats and insulation.
Resolution Foundation calls on politicians to promote energy demand reduction ahead of winter crisis
The Resolution Foundation has urged UK political leaders to promote household energy demand reduction, citing French and Dutch guidance, alongside existing bill support measures, ahead of a winter crisis.
Scottish Government publishes analysis of domestic EPC reform consultation
The Scottish Government has published its analysis of responses to a 2021 consultation on reforming domestic Energy Performance Certificates, with broad support for new ratings on cost, carbon and energy use.
Updated IWI moisture guidance distributed by TrustMark at BEIS request
Guidance clarifying that moisture-closed internal wall insulation is not prohibited on solid walls has been released by Dr Sarah Price and distributed by TrustMark at the request of BEIS.
Ofgem decides against moving supplier failure costs out of standing charges
Ofgem has decided not to move the costs of supplier failures out of electricity standing charges and onto unit prices, saying high energy users including disabled and elderly consumers would be unfairly disadvantaged.
Which? responds to Ofgem decision to continue recovering supplier failure costs via standing charge
Which? has responded to Ofgem's decision to keep recovering the costs of supplier failures through the standing charge, calling for an urgent review of how bills can be made fairer.
OPSS issues safety warning on gas grills in GDHA range cookers
The Office for Product Safety and Standards has warned that using the gas grill with the door closed on certain Belling, Stoves and New World range cookers can build up dangerous carbon monoxide.
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.
Government decides not to double ECO scheme
The Government decided not to double the Energy Company Obligation, an industry-developed proposal, as analysis showed poorly insulated homes facing gas bills almost £1,000 higher than band C homes.
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 not to apply proposed offsets against the unexpected SVT demand adjustment
Ofgem has confirmed a £41 per customer cap adjustment for unexpected standard variable tariff demand from 1 October 2022, and declined to offset it against other allowances.
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
Government response to EBSS technical consultation published
The government has published its response to the Energy Bills Support Scheme consultation, confirming £400 per household in six instalments from October 2022.