May has seen a number of notable developments within the industry. By coincidence – or perhaps due to various parties not wanting their deadlines of “spring” to slip into “summer” – a number of workstreams hit significant milestones this month. In this week’s Chart of the Week, we explore some of these major industry developments.
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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...
Power and gas networks
CMP395 BSUoS cap
On 21 September, the Final Modification Report for CMP395 was published by National Grid ESO (NG ESO). CMP395 seeks to cap the half-hourly Balancing Services Use of System charge (BSUoS) at £15/MWh over the winter period (1 October 2022 – 31 March 2023), with the deferred costs recouped in the...
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...
Energy storage and flexibility
“Each day looking for new ways to go on”: could a renewable capacity market assist hydrogen turbines?
The rise of renewables has seen the need for additional firming capacity in order to smooth renewable output and replace coal capacity in the evening peak. The ESB and federal Ministers are currently in discussions regarding the development (or not) of a capacity market for the NEM. Interestingly from the...
