EU raises renewables target as UK power prices drop

The Haven Power market report is your weekly update on energy market changes over the last 7 days.

Front season and oil prices down, wind output low, while sun shines

The Haven Power market report: your update on the week’s energy market changes.

Low wind bolsters prompt prices; commodities push power curve down

The Haven Power market report is your weekly update on changes in the UK energy market.

Fuel commodities weaken, leading to power price retreat

Stay updated on energy market changes over the last seven days with Haven Power’s market report

Small supplier raises energy prices by 2.8%

Small supplier Bulb has announced plans to increase energy prices following spikes in wholesale prices. The average customer will see a 2.8% increase on their gas and electricity bill, rising from £855 to £879 a year. It will apply to all of Bulb’s 300,000 customers on the single Vari-Fair tariff and will come into effect […]

Maritime chokepoints block ‘can increase world energy prices’

Blocking maritime chokepoints, event temporarily, can lead to “substantial increases” in world energy prices. That’s according to the US Energy Information Administration (EIA), which suggests chokepoints for maritime transit of oil are critical for global energy security because of the high volume of fuel and other liquids transported through their narrow straits. Chokepoints are narrow […]

‘Tackling energy price issues is a priority’ says Which?

Tackling rising energy prices should be one of the next government’s main priorities. That’s according to a new report from a consumer group, which says political parties should use the forthcoming election to address a range of critical consumer issues. In a recent Which? survey, 51% of respondents said taking action on energy prices, which have gone up […]

World Bank forecasts higher energy prices

The World Bank is forecasting higher prices for energy in 2017 and next year. Its latest report forecasts crude oil price at $55 (£42.7) per barrel this year, increasing to an average of $60 (£46.6) per barrel in 2018. It states rising oil prices, supported by production cutbacks by Organisation of the Petroleum Exporting Countries […]

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 […]

GB Energy Supply stops trading

Around 160,000 customers are to face higher gas and electricity bills as GB Energy Supply has announced it is no longer trading. The company blamed recent rises in energy prices but insisted all customer contracts “will be honoured” and their supply will not be affected. Customers are not able to log on to GB Energy’s […]