Energy crisis: Another 20 suppliers to go bust in next month, Scottish Power boss warns
3 years, 2 months ago

Energy crisis: Another 20 suppliers to go bust in next month, Scottish Power boss warns

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy At least another 20 UK energy suppliers are likely to go bust in the next month as a result of soaring gas prices, the boss of Scottish Power has warned. Keith Anderson told Sky News that the financial pressure on suppliers was now so great that there was a “real risk” that just five or six energy companies could survive. Since then, energy prices have soared at an unprecedented rate, leaving suppliers charging less to their customers than they can buy gas for in the wholesale market. Those of us who can afford to pay, we should be paying a little bit more because we should be paying the actual cost of the gas we use and that gets supplied to us.” Ofgem switches customers of failed suppliers over to a new provider but there are growing fears that the “supplier of last resort” process may collapse under the strain.

Energy Europe Gas Mr Anderson Customers Ofgem Suppliers Scottish Power Supplier Solr  prices  breaking  bust  scottish  customers  anderson  process  crisis  warns  power  sign  gas  suppliers  boss  supplier  month  energy  20

History of this topic

What’s the UK Energy Price Cap and Why Is It Rising?
6 days, 6 hours ago

What’s the UK Energy Price Cap and Why Is It Rising?

Bloomberg  

The cost of energy is rising for UK households, with regulator Ofgem increasing the limit on how much it allows suppliers to charge. High energy prices were a big talking point during the 2024 UK election campaign. Introduced in January 2019 by Ofgem during Theresa May ’s administration, the price cap was designed to save money for consumers by setting …

Govt urged to bring down electricity bills in the UK
1 month ago

Govt urged to bring down electricity bills in the UK

China Daily  

The chief of the independent body that advises the United Kingdom government on climate change has said efforts to meet green targets are being hamstrung by the high price of electricity. "We are not in the business of being policy prescriptive, but there are several things electricity markets and the government could choose to do to reduce the cost of …

Govt urged to bring down electricity bills in the UK
1 month ago

Govt urged to bring down electricity bills in the UK

China Daily  

The chief of the independent body that advises the United Kingdom government on climate change has said efforts to meet green targets are being hamstrung by the high price of electricity. "We are not in the business of being policy prescriptive, but there are several things electricity markets and the government could choose to do to reduce the cost of …

UK ‘dangerously underprepared’ for future energy crisis and price spikes, experts warn
2 months, 3 weeks ago

UK ‘dangerously underprepared’ for future energy crisis and price spikes, experts warn

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK is “dangerously underprepared” and vulnerable to another energy …

Energy price cap predicted to fall in January in glimmer of hope for households
3 months, 1 week ago

Energy price cap predicted to fall in January in glimmer of hope for households

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Energy consultancy Cornwall Insight said it expects the typical …

Keir Starmer and Rachel Reeves face furious demand to reverse 'reckless' winter fuel payment cut for pensioners in the wake of 10% energy price cap rise with a Labour MP pleading for a U-turn to 'prot
4 months, 2 weeks ago

Keir Starmer and Rachel Reeves face furious demand to reverse 'reckless' winter fuel payment cut for pensioners in the wake of 10% energy price cap rise with a Labour MP pleading for a U-turn to 'prot

Daily Mail  

Keir Starmer and Rachel Reeves are facing fresh pressure over the decision to alter the winter fuel payment for pensioners as a Labour MP warned it could leave vulnerable old people in hospital. But following Ofgem's announcement on Friday that the energy price cap would rise by 10 per cent from October, there were calls for a U-turn. Labour backbencher …

Energy companies rake in £1bn a week as British families struggle in cost of living crisis
10 months, 2 weeks ago

Energy companies rake in £1bn a week as British families struggle in cost of living crisis

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Energy companies raked in “eye-watering” profits of more than £1bn …

Electricity prices are crashing but don't expect cheaper bills anytime soon
10 months, 3 weeks ago

Electricity prices are crashing but don't expect cheaper bills anytime soon

ABC  

The timing couldn't have been more uncomfortable. How your power bill is calculated Some time next month, the Australian Energy Regulator will announce a draft proposal on this year's power prices. While renewables, which peak during the middle of the day as solar ramps up, is largely responsible for this, by far the biggest contributing factor to the decline in …

Energy bill price hike takes effect as record numbers struggle with debt
1 year ago

Energy bill price hike takes effect as record numbers struggle with debt

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Without additional support, it will be anything but a …

Households issued urgent 24-hour warning as energy bills to rise by £94
1 year ago

Households issued urgent 24-hour warning as energy bills to rise by £94

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. This means the UK government needs to take much more action to help people …

UK’s ‘broken’ energy system revealed as firms set to make £1.7bn profit
1 year, 5 months ago

UK’s ‘broken’ energy system revealed as firms set to make £1.7bn profit

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Simon Francis, coordinator of the …

Huge energy bills could persist until 2030, experts warn
2 years ago

Huge energy bills could persist until 2030, experts warn

The Independent  

Sky-high energy bills are not a “single winter” problem and could persist up until 2030, an industry expert has warned. “Gas prices in the UK are projected to continue to be impacted as the country’s heavy reliance on imported gas sees it vulnerable to global rises,” he said. “Our long-term forecasts indicate gas prices are likely to remain high up …

Which European nations are handling the energy crisis best?
2 years ago

Which European nations are handling the energy crisis best?

Al Jazeera  

France, Spain, Germany, Italy and Greece are doing some things right, but face challenging times ahead, say experts. An uneven risk Russia accounted for nearly half of Europe’s total natural gas imports in 2021, but some countries were always going to be more vulnerable than others. Challenges ahead Germany recently announced a new 200 billion euro package to deal with …

EU ministers fail again on gas price cap to contain costs
2 years ago

EU ministers fail again on gas price cap to contain costs

Associated Press  

BRUSSELS — European Union energy ministers failed yet again to overcome their deep differences Tuesday on a natural gas price cap that many hope would make utility bills cheaper so people can stay a little warmer during harsh winter days — if not this year, then later. One side is demanding a cap to push down gas prices for households …

Energy ministers to tackle skyrocketing power prices ahead of national cabinet meeting
2 years, 1 month ago

Energy ministers to tackle skyrocketing power prices ahead of national cabinet meeting

ABC  

A lot of eyes will be on energy ministers on Thursday, as they take part in the first of two meetings this week between state and federal decision-makers focused on how to avoid skyrocketing power prices. By introducing a cap on how much energy producers can sell either coal or gas for in the Australian market, it'll also reduce what …

Everything you need to know about energy price cap after November rise
2 years, 1 month ago

Everything you need to know about energy price cap after November rise

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy From 1 January the energy price cap will rise to …

EU faces battle to keep energy prices from tanking economy
2 years, 2 months ago

EU faces battle to keep energy prices from tanking economy

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy European Union leaders enter a …

EU adopts levy on excess energy profits, no gas price cap
2 years, 3 months ago

EU adopts levy on excess energy profits, no gas price cap

Associated Press  

BRUSSELS — European Union energy ministers on Friday adopted a package of measures to ease an energy crisis, including a levy on windfall profits of fossil fuel companies, but an agreement on capping natural gas prices that is supported by a majority of countries remained off the table. With energy prices skyrocketing across Europe since Russia invaded Ukraine, the 27 …

Energy crisis: EU chief wants to tap excess producer profits
2 years, 3 months ago

Energy crisis: EU chief wants to tap excess producer profits

Associated Press  

BRUSSELS — A top European Union official unveiled a plan Wednesday to cap the revenue of electricity producers that are making extraordinary profits because of the effects of Russia’s war in Ukraine and climate change, saying the proposal could raise $140 billion to help people hit by spiraling energy prices. “Russia keeps actively manipulating our energy market,” European Commission President …

European Union ministers fast-track 'unprecedented' measures to solve energy price shock
2 years, 3 months ago

European Union ministers fast-track 'unprecedented' measures to solve energy price shock

Firstpost  

Moscow’s invasion has seen the price of natural gas hit record levels, throwing the EU economy into deep uncertainty, with all eyes on whether Russian President Vladimir Putin will cut off the flow entirely Brussels, Belgium: The EU executive pledged Friday to come up with unprecedented measures in the coming days to solve an energy price shock triggered by Russia’s …

EU nations struggle to find joint approach on energy prices
2 years, 3 months ago

EU nations struggle to find joint approach on energy prices

Associated Press  

BRUSSELS — European Union nations struggled to find full consensus Friday on ways to shield the population from dramatically increasing energy prices that threaten to plunge millions into cold and poverty over the winter as Russia chokes off natural gas supplies. While EU members are most interested in lowering prices and getting enough gas, “the commission aimed at limiting Russia’s …

EXPLAINER: Europe struggles to cope with Russia gas shutoffs
2 years, 3 months ago

EXPLAINER: Europe struggles to cope with Russia gas shutoffs

Associated Press  

FRANKFURT, Germany — Europe is facing an energy crisis that is squeezing ordinary people’s finances and in just a few weeks could mushroom into rolling blackouts and factory shutdowns. Here is the latest on Europe’s efforts to avoid a total energy disaster: DID RUSSIA CUT OFF GAS TO EUROPE? There’s still some Russian gas flowing to Europe through a pipeline …

Brussels backs off Russian gas price cap after Putin threat
2 years, 4 months ago

Brussels backs off Russian gas price cap after Putin threat

The Telegraph  

EU ministers have stopped short of a price cap on Russian gas, following threats from Vladimir Putin to cut off supply in retaliation for any cap. The EU’s executive arm was also instructed to prepare proposals for a broader price cap, not just targeting Russia, and a plan to grease the wheels of strained energy markets. Ireland’s environment minister Eamon …

Putin threatens to stop European energy exports if price cap on gas is enforced
2 years, 4 months ago

Putin threatens to stop European energy exports if price cap on gas is enforced

Live Mint  

Russian President Vladimir Putin threatened to halt all energy shipments to Europe if Brussels goes ahead with a proposal to cap the price of Russian gas and suggested restricting a U.N.-brokered deal for Ukrainian grain exports via the Black Sea. Ukraine remained guarded about its counter-offensive in the east but its top general warned Russia could turn to nuclear weapons …

EU wants price cap on Russian gas, energy companies to pay
2 years, 4 months ago

EU wants price cap on Russian gas, energy companies to pay

Associated Press  

BRUSSELS — European Union countries should set a price cap on Russian natural gas and seek a “solidarity contribution” from European oil and gas companies making extraordinary profits as the war in Ukraine drives up energy costs, European Commission President Ursula von der Leyen said Wednesday. “We are facing an extraordinary situation, because Russia is an unreliable supplier but also …

EU to propose price cap on Russian gas, von der Leyen says
2 years, 4 months ago

EU to propose price cap on Russian gas, von der Leyen says

The Hindu  

The European Commission will propose a price cap on Russian gas, alongside measures including a mandatory EU cut in electricity use and a cap on the revenue of non-gas power generators, the bloc's chief said on Wednesday. We must cut Russia's revenues which Vladimir Putin uses to finance this atrocious war in Ukraine," European Commission President Ursula von der Leyen …

EU plans to cap Russian gas price as Putin issues warning
2 years, 4 months ago

EU plans to cap Russian gas price as Putin issues warning

Al Jazeera  

‘We must cut Russia’s revenues which Putin uses to finance this atrocious war in Ukraine,’ European Commission President Ursula von der Leyen told reporters on Wednesday. The European Union has proposed a price cap on Russian gas just as Russia’s President Vladimir Putin warned that such a move would cause Moscow to cut off all energy supplies. “We will propose …

Power firms fear new spike as European nations announce raft of measures
2 years, 4 months ago

Power firms fear new spike as European nations announce raft of measures

Daily Mail  

British energy producers are bracing for a huge rise in wholesale prices as governments across Europe rushed to announce a raft of measures to relieve the pressure on households. It comes amid grim predictions gas prices could surge by as much as 50 per cent today after a last-minute decision by Russia’s state-backed energy firm Gazprom to block the reopening …

UK ‘could have to compete with Europe in a bid to avoid rationing’ after Russia escalates energy war
2 years, 4 months ago

UK ‘could have to compete with Europe in a bid to avoid rationing’ after Russia escalates energy war

The Independent  

Russia’s escalating energy war has led to warnings gas prices could double, leaving the UK competing with Europe in a bid to avoid rationing. Russia’s state-controlled natural gas supplier, Gazprom, has announced that the Nord Stream 1 pipeline, which supplies gas to Europe, will remain closed indefinitely, fuelling fears of blackouts and economic turmoil across the continent. And we may …

EU’s top executive backs price cap on Russian pipeline gas
2 years, 4 months ago

EU’s top executive backs price cap on Russian pipeline gas

Associated Press  

BRUSSELS — The European Union’s top executive said Friday that the bloc’s electricity market “is no longer operating” amid the Ukraine war, and proposed a price cap on Russian pipeline gas. European Commission President Ursula von der Leyen blamed Russian President Vladimir Putin’s war against Ukraine for the energy crisis and the dramatic rise in gas and electricity prices. “We …

Europe braces for Russia gas disruption this week
2 years, 4 months ago

Europe braces for Russia gas disruption this week

Live Mint  

Russia will shut its key Nord Stream natural-gas pipeline Wednesday for maintenance, leaving Europe guessing again about whether supplies will restart, as temperatures fall and demand for the fuel grows. Even if Nord Stream reopens Saturday as promised by Russian gas giant Gazprom PJSC, few Western politicians and economists think Europe will receive enough Russian natural gas next year because …

Energy price cap to soar by 80% as Government urged ‘match scale of the crisis’
2 years, 4 months ago

Energy price cap to soar by 80% as Government urged ‘match scale of the crisis’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Ofgem’s chief executive Jonathan Brearley urged the incoming prime …

Next PM to unveil help for households within days as energy price cap surges to £3,500
2 years, 4 months ago

Next PM to unveil help for households within days as energy price cap surges to £3,500

The Telegraph  

Boris Johnson said on Thursday during a surprise visit to Kyiv that while Britain was “paying in our energy bills for the evils of Vladimir Putin, the people of Ukraine are paying in their blood”. We can't let him use energy as a weapon to divide us.” Options for the next Prime Minister to ease the crisis include cutting green …

No 10 says no need to panic over energy supplies
2 years, 4 months ago

No 10 says no need to panic over energy supplies

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Households, businesses and industry can be confident they will …

Price cap seen to breach £6,000 for first time in grim new forecast
2 years, 4 months ago

Price cap seen to breach £6,000 for first time in grim new forecast

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Energy prices could spike at as much as £6,000 …

Massive energy bill hikes put hundreds of thousands of businesses under threat
2 years, 4 months ago

Massive energy bill hikes put hundreds of thousands of businesses under threat

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The massive bill increases now landing on companies’ doormats …

Europe can withstand Russia’s energy threats
2 years, 5 months ago

Europe can withstand Russia’s energy threats

Al Jazeera  

But it needs to urgently take some necessary – and at times politically risky – steps to secure alternative supplies. Russia’s brutal invasion of Ukraine and the consequent geo-economic war between the Kremlin and the West disrupted global gas markets at a scale unprecedented in recent history. The Kremlin’s use of its power over energy markets as leverage – and …

UK faces periods of ‘tight’ electricity supply this winter amid Russia war in Ukraine
2 years, 5 months ago

UK faces periods of ‘tight’ electricity supply this winter amid Russia war in Ukraine

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Electricity supplies could be “tight” during parts of the winter …

From oil to wheat: what surging prices mean for companies and consumers
2 years, 10 months ago

From oil to wheat: what surging prices mean for companies and consumers

The Telegraph  

The world was contending with a huge inflation problem long before Russia invaded Ukraine as the recovery from Covid led to a spike in demand. But the invasion is driving up prices of precious commodities such as fuel, food and key materials even further as traders brace for supply chain disruption amid the threat of further sanctions. Gas Gas prices …

Russian energy: Europe scrambles to reduce its dependency
2 years, 10 months ago

Russian energy: Europe scrambles to reduce its dependency

Associated Press  

FRANKFURT, Germany — Europe is scrambling to reduce its dependence on Russia for energy and bracing for potential disruption to critical natural gas supplies as Russia’s war in Ukraine sends prices to new highs. The Paris-based International Energy Agency said Thursday that Russian gas imports could be cut by one-third this year through steps including letting existing gas contracts with …

Energy bills set to hit £3,000 as gas prices soar
2 years, 10 months ago

Energy bills set to hit £3,000 as gas prices soar

The Telegraph  

Russia and Ukraine are huge producers of products including grains and vegetable oil. With Ukraine and Russia out of the market, it's impossible to.” Karen Betts, chief executive of the Food and Drink Foundation, said disruption in Ukraine was likely to drive up the cost of these commodities. “This will be further compounded if there are sustained energy price rises, …

UK targets ‘fretwork’ of Russian energy infrastructure
2 years, 10 months ago

UK targets ‘fretwork’ of Russian energy infrastructure

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy International partners imposed a first …

UK households hit by record rise in energy bills as price cap jumps to £1,971
2 years, 11 months ago

UK households hit by record rise in energy bills as price cap jumps to £1,971

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Millions of UK households will …

Energy suppliers are desperate to persuade their own customers to buy less
2 years, 11 months ago

Energy suppliers are desperate to persuade their own customers to buy less

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Putting this in perspective, cutting VAT on energy from …

How Labour's energy price cap helped ruin Thatcherite reforms
2 years, 11 months ago

How Labour's energy price cap helped ruin Thatcherite reforms

The Telegraph  

Surviving architects of privatisation point to a series of interventionist policy mistakes which they believe distorted the market, undermined competition and led to the explosion in the number of suppliers - followed by the cascade of failures and ongoing industry collapse. George Yarrow, a former non-executive director of the Gas and Electricity Markets Authority and now chairman of the Regulatory …

Energy crisis: Britain leans on gas shipments from Qatar
3 years ago

Energy crisis: Britain leans on gas shipments from Qatar

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Britain has tapped Qatar as …

Energy crisis talks fail to reach deal as household bills could double
3 years ago

Energy crisis talks fail to reach deal as household bills could double

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Emergency talks aimed at fixing …

Energy bills to rise even higher as suppliers warn of ‘nationwide crisis’
3 years ago

Energy bills to rise even higher as suppliers warn of ‘nationwide crisis’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Energy bills set to skyrocket even more, suppliers warn
3 years ago

Energy bills set to skyrocket even more, suppliers warn

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. She told the FT: “Other …

Energy bills set to soar to £2,000 a year, threatening Boris Johnson with cost-of-living crisis
3 years ago

Energy bills set to soar to £2,000 a year, threatening Boris Johnson with cost-of-living crisis

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy …

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