cheaper energy deals

Energy UK, the trade association of UK gas and electricity suppliers, aimed at suggesting reforms in the energy industry, declares switching principles for customers on smart prepayment meters. The whole idea is to facilitate the customers with a smooth energy swap before, during and after the switch to gas and electricity supplier. As Energy UK has 100 suppliers, those who agree on the principles can help streamline the switch made by customers on smart meters. As per the declaration, gas and electricity suppliers that agree and sign these principles will enforce them while rolling out the smart prepayment meters. This would be done instantly by some UK energy suppliers or within the immediate one and half year by others. This is done with an aim to support customers on smart prepayment meters to make a smooth switch to energy suppliers offering cheaper energy deals. Some of the gas and electricity […]

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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 Six gas and electricity providers were already under scrutiny for earning huge profits from customers on Standard Variable Tariffs and a cap on it was the most obvious solution to combat energy price rises and to dismantle the monopoly of the Big Six suppliers on the energy market. Although, the energy price cap is expected to come in effect from winter 2018 the announcement has shook the energy market especially the Big Six energy suppliers. There was a strong opposition for the energy price cap from the Big Six suppliers but the government seemed unperturbed. […]

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The Big Six energy supplier Npower displays a rather insincere behaviour by allowing its customers to fall into energy debts of up to £1,600. The company does not spot such customers or intervene in order to save them from falling under the trap of paying higher bills. In fact, many of these customers face financial issues and rather need cheaper energy deals so; gas and electricity suppliers like Npower are expected to alert them before they end up in such huge debts. This rather unbelievable trend was observed by UK’s energy regulatory body Ofgem, which pointed out that apart from Npower there are other smaller gas and electricity providers like Utility Warehouse, Ecotricity, iSupplyEnergy, and First Utility that show the same behaviour. These suppliers are observed to allow customers accumulate an average of £800 of debt for electricity. In many cases, the accumulated amount crossed £1,000 before the UK energy […]

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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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The UK energy market has been in the news for the energy price rises made by the Big Six energy suppliers. It has received flak from all over including from the UK government and the energy regulator Ofgem, which hinted on declaring a severe energy price cap in the near future. However, the dominating Big Six energy suppliers seem to show no concern towards the energy customers. They keep declaring energy price rises one after another. The recent one being British Gas which increased its electricity prices by a huge 12.5%. With the monopoly of the Big Six energy suppliers, who occupy almost 80% of the energy market, a big mass of the Britons find it difficult to get cheaper energy deals. With limited government intervention, the ball is now in the UK energy customer’s court, which can actually make a difference in their own life by switching UK energy […]

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The UK energy regulator is in no mood to pardon energy network operators who made higher revenue than expected. In a rather shocking announcement, Ofgem made it clear that it will be deducting £200m from the allowances of energy network operators. It cleared the air by declaring that the aim is to direct the deducted amount to fund grid upgrades and fresh energy projects. The rather shocking and untimely announcement was made as a result of an observation, which suggested that many network companies did not stick to the plans made between 2010 and 2015. They spent less then expected on power distribution plans giving Ofgem a chance to deduct their allowed revenues from customer bills. Ofgem made it clear that as the energy companies acquire the distribution cost from UK energy bills, they must execute the pre-decided plans for energy distribution or shall be prepared to let go of […]

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A promise to cap energy prices cannot be erased from the mind of UK energy customers that are struggling to get cheaper energy deals. The reigning government had clearly stated that it would announce a price cap to save 17 million energy customers from higher standard variable tariffs. However, nothing was mentioned in the government’s plan declared in the month of June. As there were high hopes of cheaper energy prices, the government and energy regulator Ofgem promised to apply price cap on vulnerable customers that fall under the fual poverty category. Recently Ofgem has taken a further step in this direction by scheduling consultations to discuss energy price capping at the end of September. Yes! Last month the UK government made a request to the energy regulator to make plans to relieve customers on the poorest-value-tariffs. Ofgem has obliged to the UK government’s request and has planned a fully […]

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