Next week, the executives of Centrica and Ofgem will be summoned to appear before MPs. This comes after British Gas was discovered to have been compelling vulnerable customers to use
Rolls Royce shares have surged 19pc, seven focal points for review
Rolls-Royce shares have experienced a significant surge of 19% following the announcement by its new CEO, Tufan Erginbilgic, of a strategic review aimed at overhauling the business.
British Gas owner Centrica made record profits last year as energy bills soar
In 2022, Centrica’s adjusted earnings per share rose significantly, increasing eight times to 34.9p from 4.1p in the previous year.
More gas and electricity suppliers could go bust because households are unable to pay their bills
The industry body warned that more electricity and gas suppliers may go bankrupt because of the rising number of households who are unable to pay their bills.
UK energy suppliers will end prepayment meter installation at vulnerable homes
After damaging reports about how prepayment meters were installed in the homes of vulnerable customers, all UK energy suppliers have pledged that they will stop installing them.
Energy regulator Ofgem orders halt to pre-pay meters being forcibly installed
After an investigation revealed that agents working for British Gas broke into the homes of vulnerable customers to install prepayment meters, the British energy regulator Ofgem ordered all suppliers to
£9bn in customers’ cash hoarded by energy companies
The cash pile exploded over the past year and reached its peak at November’s end when households were facing extreme financial pressure due to the cost of living crisis.
British Gas stops using warrants to force people into prepayment meters
The move is following allegations that third-party agents ignored the vulnerabilities of customers and broke into equipment to install it.
BT investigated over inflation-busting price rises
BT is currently under investigation for hiding inflation-busting price increases in its contracts. Customers are now bracing for a sharp rise in their bills.
BT plans to save £100mln through merger
BT Group PLC announced plans to combine its Global Enterprise and Global units into a single, B2B unit called BT Business. This move will result in cost savings of at
In a deal to end UK dependence on Russia, the US doubles its gas exports
The US will double its gas exports to the UK. This announcement comes as the US faces the first major test in terms of energy resilience following the conflict in
North Sea oil producers want a price floor to limit UK windfall taxes
Executives and industry sources suggest that the British government should establish a price ceiling to reduce the impact of its windfall tax on North Sea oil and gas producers. Some