Category Archives: energy prices

Will sound and fury over energy prices deliver action?

More sound and fury over energy price rises, but will it mount to anything more than another round of switch urging? Five large energy companies have announced price increases up to 15%, including Scottish Power and SSE. Many of the medium and small companies have also moved to increase prices. Energy bills now account for …

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A good day for bad news

Issuing bad news on a busy news day is a a pretty common ploy. This time it’s the Competition and Market Authority (CMA) report on energy market pricing, slipped out last Friday amongst the post-Brexit row. On reading it you can see why. A two year investigation has resulted in few significant actions and won’t …

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Fixing the dysfunctional energy market

Ofgem are in the news this morning, warning energy firms to deliver on the Competition and Markets Authority (CMA) recommendations. If they don’t he warned of very un-Ofgem consequences including price regulation. The Ofgem boss said: “If the industry doesn’t deliver on the CMA remedies, if it doesn’t get competition back on track, in my …

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Five faults of the market approach to energy

The New Economics Foundation (NEF) have produced an excellent analysis of the failings of our so called energy market. They identify five different faults of the neoliberal approach to energy, which illustrate the problems and alternatives we face. Fault 1: Risks and costs of competition We were told that the only way to ensure consumer …

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Time to get serious about energy prices

Every seven minutes in the UK an older person dies of cold. As Geoffrey Lean recently put it in the Independent; “people will die of cold in their own homes – in this, the world’s fifth-largest economy – because they cannot afford to pay the high prices charged by energy companies.” He was highlighting the …

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CMA report dismally fails energy consumers

The long awaited report by the Competition and Markets Authority (CMA) into the market dominance of the Big 6 energy companies, turned out to be the damp squid most in the industry thought it would be. They found that households paid £8.5bn too much for their power between 2009 and 2013, but blamed customers because …

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Energy profits and the failed market

Scottish Power profits have increased by 41% year-on-year in its generation and supply business for 2014. This comes after the Competitions Authority said the Big Six providers, including Scottish Power, were overcharging loyal customers by £234. Scottish Power's parent group Iberdrola reported an increase in profits to €139.1 million, from €81.2 million in 2013. They …

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Why energy bills should be falling faster

Energy prices are back in the news as politicians call on the energy companies to reflect the oil price fall in their gas and electricity prices. EoN were first out with a gas price cut, followed by British Gas and now ScottishPower. The Prime Minister claimed this undermined Labour’s price freeze, although just how a …

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Shock to energy generation in Scotland

Big concerns over power generation in Scotland this week, with announcements on Longannet and Hunterston power stations. Those who thought the transmission charges row had gone quiet while Ofgem prevaricates, got a shock this week when Scottish Power announced that Scotland’s largest power station at Longannet may be forced to close due to the huge …

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Oil numbers and the referendum

As we approach the final week of the Scottish independence referendum, claims and counterclaims come fast and furious – hard data and credible analysis is in shorter supply! For example, an independence supporting firm claims there is a new oil bonanza in the North Sea through the use of fracking. The extra reserves could apparently …

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