Big Six ‘paid £4bn too much for wholesale power’

The country’s largest energy suppliers paid £3.8 billion too much for wholesale power than they should have done, according to the Labour party. It claims the ‘Big Six’ suppliers’ statements on spending over 2010, 2011 and 2012 show they splashed billions more compared with market prices in the same years. They used figures for the […]

Miliband says “nothing less” than energy price freeze will do

Labour’s Ed Miliband today declared “nothing less” than an energy price freeze will do, hammering home the message he hopes will win his party the election in 2015. Mr Miliband poured scorn on the Government’s proposals for a tax rebate announced today which is meant to limit the amount energy bills rise next year. His comments […]

Ed Davey gets tough with the energy sector

Sumit Bose reports from the first Energy UK annual conference in which Energy Secretary Ed Davey gets tough with the energy sector.

Caroline Flint: Ofgem hasn’t been the guardian of public interest

Energy regulator Ofgem “hasn’t done the job it needs to do” as a “guardian of the public interest” and that is why it needs to be abolished. That’s the view of Shadow Energy Secretary Caroline Flint, who claims Labour’s plans for a new independent regulator will do much more as the energy market needs a […]

341 MPs claim £200,000 for energy expenses

An MP who counts his work on the Energy Bill Committee among his parliamentary achievements has topped a list of MPs claiming expenses on their energy bills, according to reports. Nadhim Zahawi’s website boasts about his work on legislation to improve the “provision of energy efficiency measures to homes and businesses”, yet he appears to […]

Ed Davey defends 'rigged energy market' claim

Energy Secretary Ed Davey dismissed claims the energy market was “rigged” today by announcing tougher measures to boost competition. He also dangled the prospect of  “criminal sanctions” for anyone found manipulating energy markets. Giving the annual energy statement to the House of Commons this morning the Lib Dem minister declared: “This Government has equipped the […]

British Gas accused of profiting £20m from overestimated bills

A whistleblower has accused British Gas of boosting its profits by keeping £20 million it owed to former customers because of overestimated bills. British Gas allegedly used to wait six years before collecting unclaimed credit from customers it could not track down. But speaking to the Observer the whistleblower said British Gas had set up […]

Davey: ECO isn’t the reason for energy price rise

Energy Secretary Ed Davey defended the Government’s mandatory schemes for power suppliers, suggesting there should be no need for any price rises due to them. Power provider npower yesterday joined the wave of gas and electricity price hikes after SSE and British Gas, all of which blamed Government schemes such as the Energy Company Obligation […]

Centrica: Energy price freeze could stop suppliers operating

Labour leader Ed Miliband’s energy policy pledge would not be economically viable for suppliers to operate, Centrica claims. The energy giant made the comment following the former Energy Secretary’s big speech to freeze energy prices at his party’s annual conference in Brighton. He promised they would stop gas and electricity prices from rising between May […]

Labour: We still support Electricity Market Reform

Labour has rejected claims it has forgotten about Electricity Market Reform (EMR) amid all the fuss over its plans for an energy price freeze – with an insider saying it is “implausible” they might put off energy investors. Party leader Ed Miliband announced the headline-grabbing plans at the party conference in Brighton on Tuesday while […]