|Printable version||E-mail this to a friend|
OFGEM SETS OUT ROAD MAP TO OPEN UP ELECTRICITY MARKET FOR INDEPENDENT SUPPLIERS
Energy regulator Ofgem has today set out a detailed road map to open up the wholesale electricity market by setting out three clear objectives which the Big Six suppliers will have to meet. This is to enhance competition and will ensure independent suppliers can buy wholesale power in the range of products they need more easily. The objectives are:
1) Availability of a range of products which support hedging
2) Robust reference prices showing how much power would cost in forward markets
3) Effective short/near term market
Latest News from
Ofgem secures £7.75 million package for consumers following E.ON overcharging error02/04/2015 16:25:00
Ofgem has today secured £7.75m from E.ON after they incorrectly charged exit fees and/or overcharged customers following price rises. This is in addition to the approximately £400,000 E.ON has already paid back to potentially affected customers. It is in the process of refunding remaining customers to ensure they did not lose out financially.
Ofgem encourages gas network companies to do more to tackle fuel poverty27/03/2015 14:15:00
Ofgem is calling on network companies to connect more customers to the gas grid, where it is the cheapest option for fuel poor consumers. This will help tackle fuel poverty, as gas consistently remains one of the least expensive sources of energy.
Ofgem takes action after generator UK Capacity Reserve submitted inaccurate information as part of capacity auction19/03/2015 13:15:00
Ofgem has found that UK Capacity Reserve (UKCR) submitted inaccurate information when applying to be part of last year’s capacity auction. As a result it has been excluded from submitting 11 of its generating units for capacity auctions for the next two years. UKCR has accepted Ofgem’s finding.