Category Archives: energy prices

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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Stronger regulation and a price freeze needed to curb power companies

Household energy bills are rising faster in the UK than in most other countries in the developed world. New research shows that between 2010 and 2013, electricity prices rose by 23.5% and gas prices by 33.8%. Although electricity still costs less in the UK than in other EU nations the UK’s prices have risen much …

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The failed energy market needs more than another review

With yet another investigation into the failed energy market, it’s hard to see why consumers should have any more confidence in this latest initiative. Ofgem is referring the energy market to the Competition and Markets Authority (CMA) for a full investigation. They claim this should ensure, once and for all, that competition works effectively for …

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IPPR try to fix ‘busted’ energy market

Customer satisfaction with our energy companies is at an all time low. An IPPR report recommends a range of measures to improve competition. Between January and March, a record 10,638 people complained to the Ombudsman about the Big Six gas and electricity firms, three times the number in the same period last year. The companies …

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Energy price battle leads to calls for radical overhaul of market

The political battle over energy prices shows no sign of abating and is leading to calls for a radical overhaul of the energy market. UK Labour leader Ed Miliband has proposed fresh controls over energy prices, rejecting claims by the big six energy companies, led by British Gas, that his freeze on bills has prompted …

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Scottish energy companies under further price pressure

Scottish Power looks like they could be in more trouble with Ofgem, but they are not alone in being questioned over price increases. Ofgem introduced a rule which stops suppliers charging more for one payment method compared with another, unless it can be justified by cost. Today Ofgem announced they are investigating Scottish Power’s compliance …

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Big Energy Saving Week and those switching sites

This is Big Energy Saving Week – an intensive information campaign that will urge people across the country to take advantage of cost-cutting schemes that could save them hundreds of pounds a year. The advice is free, and can be obtained from any CAB or from http://www.bigenergysavingweek.org.uk or the campaign phoneline 0808 808 2282. In …

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