Energy Blog

Business Save – Ofgem Announce New Supplier Licensing Requirements

By : Business Save |May 03, 2019 |Energy Blog |0 Comment

 Business Save – Ofgem Announce New Supplier Licensing Requirements

New firms applying for a licence to supply energy will have to undergo more stringent tests from June. This is according to UK energy industry regulator Ofgem, who had previously stated their intention to introduce new measures. The tests are being introduced in order to raise standards for customers and reduce the risk of suppliers going bust.

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ScottishPower to Fund Climate Change Training

By : Business Save |April 25, 2019 |Energy Blog |0 Comment

ScottishPower to Fund Climate Change Training

UK energy supplier ScottishPower is to fund another training programme on climate change for teachers in Scotland. The new project will see 100 more primary school teachers receive training on issues such as reducing waste and recycling.

This is the second such scheme that ScottishPower has been involved with. Last year they piloted the Climate Change Initiative in collaboration with climate change experts from the Glasgow Science Centre. The experts conducted training sessions with over a hundred teachers originally, exploring climate change through science, engineering, technology and mathematics.

ScottishPower has now declared they will provide additional funding for another hundred teachers to be trained over the coming year.

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Ofgem Proposes End to Npower’s Switching Trial

By : Business Save |April 17, 2019 |Energy Blog |0 Comment

Ofgem Proposes End to Npower’s Switching Trial

The UK energy industry regulator Ofgem has proposed an end to the provisional order imposed on supplier Npower last November.

The provisional order was introduced to force the supplier to co-operate with Ofgem’s Active Choice Collective Switch Autumn Trial. However, the energy supplier’s reluctant conduct throughout the trial has left Ofgem disappointed.

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Green Energy Supplier Posts £1.1m Profit

By : Business Save |April 09, 2019 |Energy Blog |0 Comment

Green Energy Supplier Posts £1.1m Profit

One of the UK’s green energy suppliers has reported a continuing operations profit of over a million pounds for 2018. The Good Energy Group serviced almost 260,000 customers last year, an increase of 0.2% on their 2017 customer numbers.

Although Good Energy’s operations profit of £1.1m is actually down 17.4% year-on-year, their revenues have increased by 11.9% to £116.9m. Much of that increase is due to the harsh weather conditions that marked the beginning of 2018.

Gross profit for Good Energy was also up 12%. However, that profit was partly due to them introducing a domestic price hike much earlier than in previous years.

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Ofgem Must ‘Effectively Respond’ to Customer Concerns

By : Business Save |April 01, 2019 |Energy Blog |0 Comment

Ofgem Must ‘Effectively Respond’ to Customer Concerns

An official report has criticised UK regulators, demanding that they do more to ‘effectively respond’ to consumer concerns. The criticism is aimed at all four of the UK’s industry regulators, including energy regulator Ofgem and water regulator Ofwat.

The report was published recently by the National Audit Office (NAO). They state that the UK’s regulators haven’t been specific enough when explaining what they ultimately want to achieve for consumers.

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Npower Cuts 900 Jobs Due to ‘Intense Competition’

By : Business Save |March 14, 2019 |Energy Blog |0 Comment

Fears that Npower’s financial difficulties would lead to job cuts are coming true. The firm recently announced it is planning to reduce its workforce by 15% due to ‘intense competition’.

The other main reason cited was the recently implemented default tariff price cap. However, this second reason has been rendered less impactful by the recent price cap raise. Along with other major suppliers, the price cap increase allowed Npower to raise their customers’ default tariff rates by 10%.

Unfortunately, this has not prevented the firm announcing the massive job losses. They also predict further financial difficulties throughout the rest of the year.

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