Ofgem is consulting on issuing seven suppliers with final orders over £34 million in outstanding Renewable Obligation (RO) and feed-in tariff (FiT) levelisation fees. The suppliers – Co-Operative Energy, Robin Hood Energy, Flow Energy, MA Energy, Nabuh Energy, Symbio Energy and Tonik Energy – missed the 31 August and 1 September RO deadlines, with Ofgem stating they also haven’t provided “adequate assurances” they will make the payments by the late payment deadline of 31 October. They are not the only suppliers to have missed the initial deadline, with 24 failing to pay into Ofgem’s buy-out fund by 31 August. However, Ofgem said that 17 of these have either since paid the full amount or given satisfactory assurances on meeting their obligations.
Current 2nd Oct 2020 read more »
Octopus Energy plans to create 1,000 new technology jobs across sites in London, Brighton, Warwick and Leicester, and a new tech hub in Manchester, as part of its vision to make the UK the “Silicon Valley of energy”. The supplier will employ graduates at the new sites to help develop the proprietary green energy technology platform which has helped to make Octopus one of the fastest-growing companies in the UK. Octopus has already used its cutting-edge energy technology platform, known as Kraken, to help its customers earn money by using more electricity when renewable energy generation is high, and avoid paying higher costs when renewable energy is low. It has also widened its reach to other UK energy companies including E.On UK, Good Energy and Co-Op Energy, which also use the Kraken platform under technology licence deals. Greg Jackson, the chief executive of Octopus, said the technology could help “make Britain the best place to invest in creating new clean electricity generation”.
Guardian 5th Oct 2020 read more »
The collapse of failed electricity supplier Solarplicity Supply is expected to cost households £4.5m – fuelling long-standing frustration about fairness in the market. French state-owned giant EDF took on Solarplicity’s customers after the minnow collapsed in August 2019, and has now asked for Ofgem’s help with the costs of doing so. When an energy supplier goes bust, Ofgem’s procedure is for a stronger rival to be found to take on the customers. That company can then ask Ofgem to recoup costs of the arrangement from the rest of the industry. Suppliers then typically pass this on to customers through household bills.
Telegraph 5th Oct 2020 read more »
Centrica is launching a no-frills supply brand called British Gas Evolve today after signing up 17,000 customers to a trial version. The company, which owns British Gas, hopes the new brand will help it to return to growth after losing millions of customers from its core business to cut-price competitors. In July The Times reported that Centrica was trialling the concept through a company called British Gas X, which operates on a low-cost IT platform provided by Ensek. Centrica has named it British Gas Evolve and will launch it via Go Compare, a price comparison site. The company told staff: “We hope to recover the customers we’ve lost in the past few years, but also gain some new-to-brand customers.”
Times 5th Oct 2020 read more »