Ovo Energy’s acquisition on 11 January of Economy Energy customers via Ofgem’s Supplier of Last Resort (SoLR) mechanism mean that over 1.2mn energy accounts have now moved via the process over the last 12 months. This was Ovo’s second SoLR acquisition after taking on Spark’s customers in November 2018. Ovo Energy is now clearly the seventh largest supplier in the domestic market.
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Business supply and services
Supplier of Last Resort true-ups confirmed by Ofgem
Ofgem has published its decision documents confirming the Supplier of Last Resort (SoLR) true-up claims submitted by energy suppliers and the amounts it has agreed as part of their SoLR levy claim. In this week’s 'Chart of the week', we review the SoLR true-up claims.
Business supply and services
The first month of the EGL against a backdrop of falling wholesale prices
The end of January means the end of the first month of the Electricity Generator Levy (EGL). First announced as part of the Autumn 2022 budget, the EGL places a 45% tax on generation receipts above £75/MWh for non-Contracts for Difference (CfD) renewable and nuclear generators until March 2028. In...
Home supply and services
With wholesale prices falling, how many domestic customers are looking for better prices?
In anticipation of supply contracts being offered below the Energy Price Guarantee (EPG), what might happen to customer switching rates? In this week’s 'Chart of the week', we look at how many domestic consumers might be ready to switch when suppliers increasingly offer contracts below the price cap supported level,...
Energy storage and flexibility
What’s GoOing on with REGOs?
The world of Green Certificates is a complex area of the energy sector and is set to become more-so as we head towards a period of major regulatory change in 2023. The EU’s Guarantee of Origins (GoOs) and GB’s equivalent Renewable Energy Guarantee of Origin (REGOs) are certificates proving the production...
Home supply and services
Market share shifts: Octopus Energy’s acquisition of Bulb accelerates growth
On Saturday 29 October BEIS confirmed it had approved the transfer of Bulb’s 1.5mn customers, as well as 650 employees, to Octopus Energy. In this week's 'Chart of the Week', we look back over time at the two suppliers and the growth Octopus Energy has seen through organic means and...
Energy storage and flexibility
It’s a fix! BEIS floors competitive energy market
Last week saw the government announce the Energy Price Guarantee (EPG) which will see the typical dual fuel household’s unit rates capped at 34p/kWh for electricity and 10.3p/kWh for gas. Customers on fixed tariffs will get support to bring their tariffs down to the same level, up to 17p/kWh of...
Low carbon generation
BEIS confirm end-date for recognition of EU GoO imports
In this week’s ‘Chart of the Week’, we examine the historical volume of GoOs imported for FMD and explores what impact GoO removal will have on the REGO market.
Regulation and policy
What’s the story…Oxera publishes findings on Ofgem’s regulatory performance
On 6 May, Ofgem published a report on the findings of an independent review undertaken by Oxera and commissioned by Ofgem's Board into the root causes of the recent supplier failure. In this 'Chart of the week', we look at how the report assesses the performance of Ofgem in meeting...
