Energy price cap introduced: Industry responds

The UK Government has introduced new legislation to cap energy prices and help consumers save money. The move will allow regulator Ofgem to cap prices until 2020, protecting 11 million households across the UK, who are currently on a standard variable tariff (SVT) or other default deals. Urgently needed Rachel Reeves, Chair of the Business, […]

CMA eyes solutions to oil and gas merger concerns

The Competition and Markets Authority (CMA) is considering proposals to overcome competition concerns regarding a £2.2 billion oil and gas services merger. The issue centres around Wood Group’s purchase of Amec Foster Wheeler – the companies provide engineering and construction (E&C) and operation and maintenance (O&M) services to the UK’s offshore oil and gas sector in […]

Greg Clark pledges action on rising energy bills

The UK Government is to take decisive action to address energy prices very soon. Yesterday, Secretary of State for Business, Energy and Industrial Strategy (BEIS), Greg Clark, told the Select Committee he would soon publish his department’s response to the Competition and Markets Authority (CMA) report on failings in the energy market. He said customers […]

‘Inactive Big Six will sit back and wait for CMA fixes’

  The inactive Big Six will sit back and wait for the Competition and Markets Authority (CMA) fixes. That’s according to Ed Kamm, Managing Director of First Utility who spoke to ELN today after the CMA evidence hearing at Westminster. He said energy suppliers, particularly the Big Six, need to do more to help their customers get onto […]

Yeo asks why energy probe isn’t looking at gas markets

Tim Yeo, the chair of parliament’s energy watchdog has written to the head of the competition body which is running a probe into the UK’s electricity market, Lord Currie, to ask why it isn’t examining the wholesale gas markets. In his letter, the influential Tory backbencher says “no stone should be left unturned” in the […]

Energy market “broken” and crisis could “worsen”

The UK’s energy market is “broken” and needs fixing “urgently” say the bosses of a consumer body and a business group who today sent a letter to regulators demanding “radical changes”. Addressed to the chief executives of Ofgem, the Office for Fair Trading and the Competition and Markets Authority, the letter warns the “crisis” that […]