Gas

GAS PRICES FALL, BUT MAJOR UK SUPPLIERS NOT PASSING ON SAVINGS TO CUSTOMERS

A sharp decrease in gas prices The wholesale prices fell due to the reduction in commercial and industrial demand because of the coronavirus pandemic. The ongoing price-war between Russia and Arabia further brought down oil prices. In the words of Matt Clemow, who is the CEO of Igloo Energy Covid-19 has had a significant impact. …

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HOUSEHOLD ELECTRICITY BILLS SET TO SOAR DUE TO LOCKDOWN

As the lockdown measures to combat the Covid-19 become more stringent, people are spending virtually all their time indoors. Analysis from energy firms has revealed that the consumption of home energy has seen a 30% increase, especially around midday. Working from home and the overall decreased electricity demand With schools closed and most of the …

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ENERGY INEQUALITY UK: THE LESS WELL-OFF USE LESS, PAY MORE

The price comparison site Compare the Market published a new study on energy inequality UK that reveals the low-income households pay £60 more per year on energy bills than those with higher income. The report showed 10%  poorest areas of Britain pay an annual average of £1,123 for their energy, while the 15% wealthiest areas’ average bill …

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TECH ISSUE STOPS BRITISH GAS PREPAID CUSTOMERS TOPPING UP, OFGEM LOOKING FOR ANSWERS

British Gas customers aired their disappointment on social media over being unable to top-up prepayment meters via online or the app on 27 February, allegedly due to a technical issue. This issue follows the earlier controversy involving the Big Six supplier’s decision to cut its partnership with PayPoint to make an exclusive deal with the …

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THE PROBABLE IMPACT OF BREXIT ON THE UK ENERGY SECTOR

Concerns about the possible impact of the UK’s Brexit on the energy industry were aired by several institutions, including the trade association Energy UK and Durham Energy Institute (DEI). Several issues have been put to light that industry players believe would create a divide between the government and its citizens. Some of these effects include …

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ENERGY SUPPLIER GNERGY CEASES TRADING

GnERGY Ltd, one of UK’s small energy suppliers, ceases to trade after struggling to pay the UK regulator Ofgem’s Renewable Obligation buyout fund. Ofgem launched an investigation on the non-compliance issue last January and later issued a failure notice to the small firm. The industry watchdog found that GnERGY did not comply with the final …

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NEW BRITISH GAS TARIFF IS THE CHEAPEST FROM THE BIG SIX SINCE 2016

One of the UK’s Big Six energy provider British Gas has recently launched the cheapest deal among the largest suppliers in more than three years. The offer comes amid the continued energy price cuts in the current market. Martin Lewis, a money-saving expert, shared on Good Morning Britain that British Gas customers can save an …

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FIRST TOTO, NOW ISUPPLY FOR EDF ENERGY

One of the UK’s Big Six energy supplier EDF Energy has recently acquired busted Swedish energy provider iSupply, just a few months after its buyout of failed energy challenger Toto Energy last October 2019. EDF Energy will be undertaking the busted supplier’s customers after the UK energy regulator Ofgem sanctioned the now-defunct firm to pay …

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WHAT’S BEHIND THE SLUMP IN THE WORLD’S GAS MARKETS?

The world has recently experienced a sharp decline in oil prices following a demand disturbance prompted by the Chinese coronavirus outbreak. This issue has caused the benchmark Brent crude to fall 20% at a certain point this February. On the other hand, oil prices are slowly starting to stabilise with a 10% increase from its …

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