Tag Archives: energy price cap

Innogy suffers a loss of £427m, blames performance on poor conditions of Npower

As Npower plans to exit the UK energy market, reports suggest that its parent company Innogy has suffered losses of £427m due to the pressure building up in the UK home energy market. Npower, the Big Six gas and electricity supplier suffered a loss of £96m this year and is feeling the pressure of the […]

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Ofgem - energy price cap possible only in the next winter

There were string reports surrounding the confirmation of Ofgem’s immediate action to implement the latest announcement of the government on the revival of energy price cap for the 12 million customers on the Standard Variable Tariffs. The energy price cap was supposed to be monitored by Ofgem under the proper legislation however the energy regulator […]

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The Energy price rise by British Gas in September proved to be the last nail in the coffin as it initiated a big loss of nearly 163000 customers by the Big Six energy suppliers. The gas and electricity suppliers that dominate 80% of the energy market lost a monthly all-time highest number of customers to […]

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Energy price cap needs to be continued till 2030, says Ofgem chief

Amidst the announcement of an energy price cap by Theresa May, it was the energy regulatory body chief who suggested that the UK energy market needs price capping for around 15 years to balance. He expressed his views about the vulnerable and low-income customers who need to be protected from power suppliers till 2030. His […]

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Innogy plans to sell ‘loss making’ Npower to combat the energy price cap

German Energy group Innogy, the owner of Npower, hints at selling the business to combat the losses and years of cost cutting. At the least, it would form partnership with another giant rival company like SSE to make sure that its British retail energy business is up and running. As the Big Six energy suppliers […]

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British Gas abolishes Standard Variable Tariffs with effect from April 2018

The Big Six energy supplier British Gas lived up to its words and has kicked out Standard Variable Tariffs for its nwww ew customers. According to energy experts, the announcement that will come into effect from April 2018 is a result of the government’s constant pressure to apply energy price cap on SVTs. The Big […]

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