Fine times table #4

In the final 2014 instalment of our Fine Times Table series we look at the energy market since our 2009 inception and the number of times, and amount, the Big 6 energy suppliers have been fined for various market misdemeanours. Recently Ofgem have been busy fining suppliers and generators for failings under the CESP scheme. Amongst the Big 6, British […]

Cameron takes a swipe at renewable energy

DECC’s figures for H1 2014 have revealed that renewable energy in Scotland has overtaken nuclear power as the largest source of electricity North of the border but the rapid growth the industry has achieved is now in doubt after the depth of opposition from the coalition government has become clear. First the good news, Scottish […]

Strong recruitment growth predicted for 2015

A different twist has arisen on the public vs. private sector debate and who to trust. These days most would say neither could be trusted but the truth is somewhat more involved. The Office for Budget Responsibility (OBR) predicted that the rate of hiring amongst businesses in the UK will fall in 2015 whilst results […]

Osborne promises business rates revolution

One of the biggest bugbears of small businesses may be about to be resolved following George Osborne, the Chancellor of the Exchequer’s, apparent commitment to restructure business rates in his Autumn Statement The tax take from business rates is expected to have increased 40% between 2008 and 2018 with an increase of £133m in this […]

Winners, Losers & Opec

The International Energy Agency (IEA) have revealed their forecast for the oil price is continued falls with little sign of a rebalance in the current combination of low demand and supply glut. Whilst a ‘new era of cheap oil’ suggests positive news for consumers, motorists and global growth the reality this time is somewhat different. […]

Ofgem finally authorise Ovo Energy’s interest deal

Ofgem’s long running and increasingly bizarre dispute with Ovo Energy over their policy of offering interest of 3% on credit balances has finally been concluded. Having previously ruled Ovo’s positive market move as inappropriate, Ofgem has undertaken a “derogation review” and has belatedly ruled that the policy does not increase complexity and is actually “beneficial […]

No rest for dedicated SMEs over the festive season

Cloud computing firm Xero has revealed in its latest survey that 17% of SME business owners will work over the festive period with a similar number expecting to spend at least half a day focused on their businesses whilst others enjoy the yuletide atmosphere. The poll, undertaken by OnePoll, does not suggest that the ‘nation […]

Ofgem Promise Price Control Brings Savings

In November the Ofgem Supply Market Indicator (SMI) revealed that network costs make up 23% of the retail price of energy. In quick succession Ofgem has finally announced its annual price control for the distributors of electricity around the UK networks. The ‘wires’ owners were made aware of Ofgem’s broad intentions in July when tougher […]

Independent Business Energy Broker Introduces Online Supplier Reviews

Independent business gas and electricity broker Business Juice has introduced a new online supplier review area to its website, enabling clients to rate their experience of nearly 30 UK energy suppliers. As more reviews are added, ratings will be consolidated, allowing companies to compare other business’s experience of business energy suppliers. James Constant, CEO of […]

Ofgem Finally Face the Reality of their Failings

Dermot Nolan Chief Executive of Ofgem has underlined the depth of the malaise in the energy market affecting the regulator, suppliers and long-suffering customers. Nolan laid bare the failures of Ofgem admitting: “A relatively senior public figure once said to me that the actions of the regulator five years ago were essentially saying to consumers: ‘There […]