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British Gas Optimistic Despite Losing Customers

By : Business Save |November 16, 2018 |Energy Blog |0 Comment

British Gas Optimistic Despite Losing Customers

Intense competition has been identified as one of the main reasons why British Gas has been losing so many customers. The rate of customers switching their energy supply from British Gas is currently at more than 90,000 per month. The massive loss of customers has caused shares in the UK’s largest supplier to fall to a fifteen-year low.

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Supplier Switching Affects Big Six Profits

By : Business Save |November 01, 2018 |Energy Blog |0 Comment

Supplier Switching Affects Big Six Profits

A report by Britain’s energy industry regulator has revealed that the country’s six largest energy firms experienced a collective decrease in profits by around £100m.

The profit drop has been attributed primarily to customers leaving the Big Six suppliers for smaller and newer energy providers.

Well over a million people switched from a Big Six supplier during the last year. Resulting in a 10% drop in profits for the energy suppliers with the biggest market share. With their collective profits previously at £1bn, this 10% loss means their collective gains dropped significantly down to £900m as their collective market share also dwindled to an all time low of just three-quarters.

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UK Watchdog Clears Merger Between SSE and Npower

By : Business Save |October 15, 2018 |Energy Blog |0 Comment

UK Watchdog Clears Merger Between SSE and Npower

A merger between two of the UK’s Big Six energy providers has been given the go ahead by the Competition and Markets Authority. Final clearance has been given to the deal between SSE and Npower. This was after the regulating organisation had provisionally cleared the merger back in August.

The Competition and Markets Authority (CMA) had launched a full inquiry at the beginning of the summer after an initial probe into the deal revealed the potential for a reduction in competition which in turn would raise the prices of energy supply for consumers.

However the CMA has been satisfied that energy customers would still retain plenty of choice regarding  standard variable tariffs.

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How UK Businesses Can Benefit from Renewable Energy

By : Business Save |October 08, 2018 |Energy Blog |0 Comment

How UK Businesses Can Benefit from Renewable Energy

No business can get by without using electricity. However there are a variety of options as to what kind of electricity each business uses. Ideally it should be cost effective and worry-free. Furthermore it may surprise some to know that renewable energy ticks both of those boxes.

These days it can be quite the selling point as well. Letting potential customers know that your business is doing its bit for the environment by using renewable energy. Staff and current customers may also take some pride in knowing the company they are with are committed to using cleaner and greener energy.

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Energy Suppliers Ordered to Improve Customer Service

By : Business Save |October 01, 2018 |Energy Blog |0 Comment

Energy Suppliers Ordered to Improve Customer Service

Eleven of the biggest energy providers in the UK have recently been instructed to improve their internal customer complaints procedures by Ofgem. Ofgem is the country’s energy industry regulator.

The country’s energy industry regulator, Ofgem, said they had four actual compliance cases open. They had asked the remaining seven of the eleven named suppliers to improve how they handled their customer complaints.

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Residential Flexibility the Key to Decarbonisation

By : Business Save |September 28, 2018 |Energy, Energy Blog |0 Comment

Residential Flexibility the Key to Decarbonisation

British households could make savings of over £200 on their annual energy bills if there was more of a route to market for residential flexibility with regard to accessing grid balancing revenue streams, new research has revealed.

It is believed that consumers are being blocked from making such savings. This is due to current restrictions on residential flexibility. This includes taking advantage of energy storage devices as well as other renewable energy technology.

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Ofgem Price Cap Still Dividing Opinion

By : Business Save |September 26, 2018 |Energy, Energy Blog |0 Comment

Ofgem Price Cap Still Dividing Opinion

Ofgem’s latest price cap announcement – that should save UK consumers around £1 billion a year on their gas and electricity bills – has been dividing opinion even among energy industry experts.

The Government regulator for the gas and electricity markets wants to cap the annual energy bill for a typical dual fuel customer paying by direct debit at £1,136 with all suppliers obligated to cut their prices to the cap’s limit or below. Ofgem believe about 11 million households currently on default deals or standard variable rates will save an average of £75 per year once the cap is in place. Any customers stuck on the most expensive tariffs might even save over £120.

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Energy Supplier Makes Third Price Hike This Year

By : Business Save |September 24, 2018 |Energy, Energy Blog |0 Comment

Energy Supplier Makes Third Price Hike This Year

One of Britain’s newest energy suppliers have been forced to raise their prices for a third time this year. With the blame laid squarely at the door of rising wholesale prices.

Bulb Energy has been in business for only three years. However they have managed to amass approximately 750,000 customers on a single ‘vari-fair’ tariff. A tariff which utilises renewable energy. All of their customers will now see a typical bill rise of about £8.50 per month. This is after having just experienced the latest price rise in June.

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Collective Energy Switch Trial a Success

By : Business Save |September 21, 2018 |Energy, Energy Blog |0 Comment

Collective Energy Switch Trial a Success

A ‘collective switching’ test run by gas and electricity regulator Ofgem has proved a success. Elderly customers and those previously loyal to a particular energy supplier saving upwards of £261 on their annual energy bill each.

Approximately 50,000 people were involved in the collective switching trial. Eligible customers being those who had typically been paying for their energy via the same variable tariff for six years with one of the UK’s ‘Big Six’ suppliers.

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