Big Six energy suppliers

Woodland Trust Energy Launched in April 2013, Woodland Trust Energy is the baby of OVO Energy. It originated by a collaboration of leading gas and electricity supplier OVO Energy and UK’s largest wood conservation charity called Woodland Trust. The pact is that whenever there is an energy switch to Woodland Trust Energy, OVO energy would donate a portion of it to the Woodland Trust charity. It is an easy yet attractive method of promoting the use of renewable energy, which is the top most choice of UK customers that believe in conserving the environment. Woodland Trust Energy Fuel Mix: Coal Natural Gas Nuclear Renewable Other Woodland Trust Energy Tariffs: Woodland Trust Energy is a UK energy supplier that offers only two kinds of fixed tariffs for the entire year. The details of Woodland Trust energy tariffs are as follows: The New Energy Plan details: 15% renewable electricity as part of […]

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The disaster has stricken again as another small energy firm Future Energy goes out of action. The gas and electricity supplier with around 10,000 customers in the north east and Yorkshire has stopped trading as announced by Ofgem today. This is another case of a small energy supplier in UK going out of business. It just raises the question whether customers should choose small or medium energy suppliers or not. Energy regulator Ofgem comes to the rescue of the 10K customers who buy cheap electricity and gas from Future Energy. Ofgem asks the customers to have patience and assures that it would allocate a stable energy supplier for them within the next two-three days. The best part is that Ofgem’s safety net scheme helps the customers to get uninterrupted energy supplies. Hence, customers of Future Energy need not panic. In the meanwhile, customers are asked to not switch energy supplier […]

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MPs grill UK’s biggest energy supplier British Gas on lack of effort to contact customers to convince them to switch from Standard Variable Tariff to cheaper energy tariffs. Followed from the interview, the British Gas chief confessed that the company has not contacted its SVT customers for enough number of times to convince them to switch to cheaper energy tariffs. The committee decided a hearing on the Government’s proposed energy price cap plans and realized that many UK energy suppliers especially the Big Six gas and electricity suppliers are not contacting their customers the way they should. The company confessed this lack of effort from their end in a Commons committee hearing with MPs. Centrica chief confirmed that its child company British Gas has contacted customers for six times a year while it could do it for more number of times. British Gas has around two third of customers on […]

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The Big Six energy suppliers throw clear warning that energy price cap would have a straight effect on the smart meter roll out as companies facing losses won’t be able to invest in government initiatives. They also hinted that the energy price cap would be responsible for lower investment in the energy sector. As per two of the biggest energy suppliers in UK, energy companies would not be able to invest millions on smart meters if they are going through losses due to energy price capping. British Gas and E.On Energy submitted a report to the Business, Energy and Industrial Strategy (BEIS) committee which stated that “We believe the price cap will damage the roll-out of smart meters and may reduce the total number of meters installed.” British Gas pointed out that if the energy price cap is marked too low then gas and electricity suppliers would not be able […]

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Political interference in the energy sector and the government’s threat of energy price cap is taking a toll on the Big Six energy suppliers. So much so that two of the biggest of the Big Six gas and electricity suppliers, SSE and Npower considered quitting the energy market. If reports are to be believed then UK’s energy giant SSE is discussing a spinoff with Npower to create a new giant energy company that can sustain the seismic changes in the energy sector. This is the result of the recalling of the announcement of energy price cap made by the Prime Minister Theresa May. Supported by ministers and Ofgem, the energy price cap is a remedy to free the 12 million energy customers on Standard Variable Tariff. During energy price rises, these customers suffer the most and thus, need to be protected. Energy price cap is one such measure that will […]

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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 are not willing to offer cheaper energy deals, they are in line to face the energy price cap in the near future. This may incur them huge losses and so, giants like Npower hint at quitting the UK energy market. A source from the company said that “Management is no longer willing to accept the losses. A partnership is the only thing that makes sense.” However, Innogy chose to remain silent on the matter. The Big Six energy provider has 4.76 million customers in the UK and incurs a business of 8.1 billion Euros. This […]

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The energy market is facing extreme pressure as the Prime Minister announced the draft law last week. Following closely is the industry energy regulator Ofgem which threatened to take action against suppliers that don’t move customers from expensive SVTs. It has ordered the power companies to pace up action to shift customers from Standard Variable Tariffs into cheaper energy deals. As around two-thirds of customers are on SVTs, it is forcing suppliers to take quick action to suffice the call of the hour. Ofgem accused British Gas and SSE, the two Big Six energy suppliers with the highest number of customers on SVTs, of going slow in their action. Dermot Nolan, the Ofgem chief executive told MPs that “They have not made progress or initiatives in the way that perhaps some other companies have announced.”  In response to the idea of setting fixed targets for these UK energy suppliers he said that […]

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