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The big idea behind the energy price cap, which is to be set by Ofgem, is to get rid of “rip-off” energy tariffs as put by Prime Minister Theresa May. However the job given to Ofgem is not an easy one, as on the other hand they need to preserve competition and keep the incentives for customers to switch to better deals. Nonetheless this task will affect around 12 million households in England, Scotland and Wales but will not include those on ‘green’ tariffs and prepayment meters as there is already an existing price cap for prepay customers. Once set, how does the price cap work? The price cap will be a set nominal rate which no supplier can go above, however you can expect the fixed cap rate to be different across the nation The date has not been set yet of when the price cap will come into […]

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Between the period of June 2014 and September 2015, SSE sent around 1.15 million annual statements to customers which were inaccurate. As such, they will now pay £1 million into the energy regulator Ofgem’s consumer redress fund which is used to help vulnerable consumers and develop new energy products. Alongside the £1 million fine, SSE will also consider individual claims from customers who feel they have been negatively affected financially. What exactly happened? SSE reported itself to Ofgem after it realised there was an IT coding error which led to letters being sent out to customers which has inaccurate information. On these letters the alternative cheaper tariff was incorrect and there was inaccurate savings information. In some cases, the savings information was incorrect when showcasing the advantages for customers to move away from prepayment meters to standard credit meters paying by direct debit. Overall Ofgem declared the harm to customers […]

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The term ‘Big Six’ refers to the six energy giants dominating the home energy market in the UK. The energy giant companies include British Gas, Scottish Power, SSE, NPower, EDF energy and E.on. In recent months we have seen an increase in prices from all the ‘big six’ energy companies with the latest price increase announcement of 6.7% coming in from SSE. Talking on the increases, Shailesh Ramani, Founder of FreePriceCompare said: “Like we have seen time and time again, the moment you see one energy supplier increase prices, the others follow suit. “Now that SSE has increased prices too, we can now see which energy company is the most expensive by basing calculations on Ofgem’s medium user, that selects the dual fuel option and pays by monthly direct debit which the cheapest way to pay for the energy usage. “Regardless of this, energy customers need to be aware that […]

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Many people fail to check if they are on the correct tax code and simply rely on their employer to have it correct. Individuals on a private pension and those on a full or part time employment will be given a tax code. Individuals which are unemployed, self-employed or in receipt of a state pension will not have a tax code. How to I find my code? Every March a coding notice is sent to you and your employer. Also the code will be on your pay slips, P45 and P60 forms too. In the event you are still unable to locate your code, you can get in touch with the HMRC. Please note, it is possible for tax payers to have more than one code – for example if you work and draw pension. What should my code be? To work out you code, you first need to work […]

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The UK’s first renewable energy training facility has been based at the Berkshire College of Agriculture. Known as The Energy Centre, the facility was officially open on the 27th April 2018. The new facility has been developed by the college and with strong partnership from biomass company LC Energy. The Energy Centre will train students aged 16-19 on various qualification such as renewable energy and biofuel engineering. Prime minister May said, “I was pleased to be able to meet with students who, through using the new energy centre, will be given the training and opportunity to make a real difference to help protect our planet for future generations. ” Adding on to this, Gillian May, Dean of the college said, “We already have two biomass boilers and engine rooms on campus, and the addition of this new centre provides the facility for the development of professionally recognized training for this […]

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Energy UK has launched the ‘Future of Energy” project which outlines how energy changes are impacting energy generators, utilities and consumers. The vision looks ahead to the year 2028 which is 20th anniversary of the Climate Change Act. In the next decade, the project commits to: Meeting the needs of the end consumers Delivering an energy system that is competitive, smart and fair Help deliver the governments decarbonisation targets Recognizing the need for a balance and diverse fuel mix which includes interconnection and storage as well as a demand side response. The document also goes onto stress a change away from centralized power stations to distributed energy which will provide consumers with more energy options. Naturally this will pose a challenge for energy suppliers who are already contending with the ‘smart meter ‘digital revolution. The document reads, “A future energy system that delivers our vision for customers is within reach. […]

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The All-energy conference had over 7000 attendees including four government ministers, making it the biggest renewable and low carbon energy exhibition in the UK. Over the two day period, a number of big deals were done such as Xodus Group and Atlantis Resources (a tidal energy firm) signing a Memorandum of Understanding to develop a tidal project in Japan. All-Energy event director, Jonathan Heastie, said: “We were delighted to welcome all four Ministers to the show, which encompassed all four of All-Energy‘s Pillars’: renewable energy, low carbon heating, low carbon transport and energy efficiency. “The basic statistics speak for themselves: more than 300 exhibiting companies, 460 speakers and 46 academic posters which encouraged a total attendance of 7,027 over two days including developers, utilities, investors, local government, energy end users, and representatives from the full supply chain.” For more energy news and guides, please visit https://freepricecompare.com/home-energy/. At FreePriceCompare we offer […]

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