Chart of the week | COVID-19 costs energy suppliers over £1bn

The impact of COVID-19 is starting to be reported by listed energy companies. Centrica, Iberdrola, E.ON Group, Drax Group and ENGIE Group have all commented on the impact of COVID-19, including the costs of selling back overhedged volumes caused by the pandemic. These suppliers collectively are important competitors in the British energy markets, supplying around a third of business and domestic electricity by volume (Cornwall Insight Market Share). In this Chart of the Week we look at a selection of Group H120 financial results and the reported impacts of the COVID-19 pandemic.

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Related thinking

Business supply and services

A GoO-ey end? Green power import certificates poised for removal

On 29 March, BEIS published a consultation seeking views on the removal of Feed in Tariff (FIT) and Contracts for Difference (CfD) scheme cost exemptions for green imported electricity and the recognition of EU Guarantees of Origin (GoOs) in GB altogether. Our 'Chart of the week' shows historic GoO imports...

Commercial and market outlook

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Home supply and services

Over a third of energy suppliers have left the market

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Home supply and services

Supplier exits predicted to trigger Renewable Obligation mutualisation

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Home supply and services

Domestic switching falls as the savings gap is squeezed

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Low carbon generation

A podium finish: ROC banking in CP19

The Renewables Obligation (RO) Compliance Period (CP) 19 (2020-21) has been unusual in the scheme’s history in light of the impact of the COVID-19 pandemic. As we are in the so-called “compliance season” for CP19, we reflect on the last year and the importance that Renewable Obligation Certificates (ROC) “banking”...

Home supply and services

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Commercial and market outlook

Chart of the week | Green recovery in Italy?

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