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Energy News – 27/06/2017


A deal with the DUP may be yet to materialise, but that hasn’t stopped the Queen’s speech going ahead, with a speech that hinted at Conservative priorities in the coming months. There were no mentions of some of the party’s more controversial manifesto pledges, such as repealing the ban on fox hunting and implementing a poorly received social care plan that swiftly became known as a ‘dementia tax’. Unsurprisingly, the speech was heavy on Brexit, albeit short on new information. As you’ll see below, the much-debated energy price cap was also absent…

The best and worst energy companies for customer service revealed – The Sun

Citizens Advice has given star ratings to a number of energy firms, based on their customer service. The ratings were based on a number of variables, including complaints handling and customer service in general. The Sun article covers domestic ratings, however, we recommend taking a look at the non-domestic ratings too.

Gazprom Smells Opportunity as U.K.’s Biggest Gas Store Shuts – Bloomberg

Gazprom is looking to boost its sales of natural gas to the UK as coal-fired plants continue their downturn. Whilst the latest closure is good news for Gazprom, it signals the UK’s increasing dependence on non-domestic suppliers.

‘Risky’ Hinkley Point deal ‘will cost UK electricity consumers £30bn above market prices’ – The Insider

The controversy around Hinkley Point continues, with concerns raised that the project will actually end up increasing UK energy bills. The National Audit Office has poured cold water on the project, cautioning that the deal is ‘not value for money’ and predicting that customers may end up paying £30bn over market rates due to the deal.

Centrica eyes acquisitions as it welcomes axing of energy price cap – The Telegraph


So the energy price cap is no more, at least for now. Last week Centrica unveiled its strategy for the future, with a focus on innovation at the forefront. Centrica laid out its plans to move away from being a traditional energy company, investing in global markets and ‘smart’ technology such as the company’s ‘Hive’ offering.

Small power plants clobbered by Ofgem subsidy change – The Telegraph

Small power plant owners are having their subsidies slashes by Ofgem in a bid to cut energy bills. Power plant owners have hit back, stating that it could prevent innovation and growth of the small generation market, which could have the knock-on effect of threatening the UK’s ability to keep the lights on. The decision may be appealed by the Flexible Generation Group.

Remember to keep up to date with all the latest energy news and small business advice by following us on Twitter @switchmybiz.

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