Energy Crisis
| Use attributes for filter ! | |
| Google books | books.google.com |
|---|---|
| Originally published | 2005 |
| Authors | Ewan McLeish |
| Date of Reg. | |
| Date of Upd. | |
| ID | 2940450 |
About Energy Crisis
Emerging challenges of the 21st Century such as the need to find alternative energies are explored in a balanced, international, and provocative way with a good combination of in-depth facts, statistics and real world consequences.
Cause of eerie pink glow over Howden revealed by local business
... So why are people only seeing the pink lights now? Mr Denham said: " Because of the Energy Crisis we had to invest heavily in LED lights...
Campaigners call for more energy support for vulnerable households
... " Separately, Philippe Commaret, managing director for customers at EDF, has pledged to ensure that some 250,000 of the company s customer households who are struggling with high costs see their standing charges - the fixed daily amount you have to pay for energy, no matter how much you use - fall to where they were before the Energy Crisis...
Blackouts less likely this winter says National Grid
... Chances of the lights going out were almost back to where they were before the Energy Crisis, it said...
Energy firms warned against paying dividends
... Regulator Ofgem said firms " must learn the lessons of the Energy Crisis" adding " a return to the practices we saw before isn t on the table"...
Energy bills fall as new price cap comes into force
... And while bills remain higher than before the Energy Crisis, it is great news that people will see them drop...
Crisis-hit Pakistan strikes $3bn IMF bailout deal
... Pakistan s economy, which was already struggling after years of financial mismanagement, has been pushed to the brink by a global Energy Crisis and devastating floods that hit the country last year...
Warning energy bills to stay high for foreseeable future
... Centrica chief executive Chris O Shea said while he believes the worst of the Energy Crisis is over, risks remain...
When will we start seeing energy bill deals again?
... That is £426 a year less than what they pay now, although still far higher than what we saw before the Energy Crisis...
Energy firms warned against paying dividends
By Michael RaceBusiness reporter, BBC News
Energy suppliers have been warned they should retain profits rather than pay out returns to shareholders, to ensure firms can weather future price shocks.
Regulator Ofgem said firms " must learn the lessons of the Energy Crisis " adding " a return to the practices we saw before isn't on The Table ".
Some 30 suppliers have gone bust since energy prices started to rise in 2021.
Higher wholesale gas prices, driven by Russia's invasion of Ukraine, made price deals to customers undeliverable.
The biggest supplier to go bust was Bulb, which had 1. 6 million customers. It was bailed out by taxpayers to The Tune of about £3. 8bn and has since been taken over by Octopus Energy .
Households have seen their gas and electricity bills soar, but prices are starting to fall, with The Bills for using a typical amount of energy to be £2,074 a year on average.
However, despite a drop of £426 per year, bills are much higher than before the Covid pandemic.
The reduction in wholesale gas prices means domestic suppliers are expected to return to profit after five years of losses.
While companies such as Shell and BP have made record profits in recent years from oil and gas extraction, the two firms - along with other smaller domestic energy suppliers - have been making much less, often inducing losses, for selling that energy to households.
Jonathan Brearley, chief executive of Ofgem, warned firms that he expected " No Return to paying out dividends" until suppliers had met the regulator's financial stability requirements, which are aimed at preventing a repeat of mass company collapses.
In an open letter to the bosses of energy suppliers, Mr Brearley said an energy industry where companies can make " a reasonable profit" was important to " create a sustainable and competitive market for consumers".
" However, a return to the practices we saw before the Energy Crisis isn't on The Table - suppliers must reciprocate the support the sector was given by consumers and taxpayers when wholesale prices increased by behaving responsibly as prices fall and profits return, " he added.
The Ofgem boss also warned that this winter, if prices remain as forecast, it is likely " a large group of customers will struggle to pay their bills, so the sector will need to be fully focussed on how best to support customers in financial distress".
'Firms need to play their part'Since 2019, Ofgem has set a price cap on energy bills, which is the maximum price that suppliers can charge customers per unit of gas and electricity. It applies to households on variable or default tariffs in England, Wales and Scotland.
After The Price cap soared, the government stepped in with the Energy Price Guarantee which limited annual bills to £2,500,
Last week, Chancellor Jeremy Hunt met with several regulators, including Ofgem and told them they needed to " work at pace" to ensure businesses reflected any falling costs in the prices they charged customers.
Mr Brearley said firms needed to " play their part by making sure they're financially robust" in order to " absorb potential losses".
He Said while he was " observing some good practice" the regulator was also finding evidence that some suppliers may have " breached" pricing rules. " We Are investigating further and will take action if we find abuse, " Mr Brearley warned.
Related TopicsSource of news: bbc.com