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The Latest Breaking News from Ofgem

Elon Musk’s Tesla wins approval to supply electricity to British households

Tesla Energy Ventures has been granted a licence to provide electricity to households and businesses in England, Wales and Scotland.

Evening Standard

Elon Musk’s Tesla given go-ahead to supply electricity in Great Britain

Ofgem licence means firm can replicate Texas setup of powering homes, businesses and EVs

The Guardian - UK

Over a barrel: what does the energy crisis caused by the Iran war mean for UK households?

With the flow of oil from the Middle East drying up and energy prices skyrocketing, the economic outlook is grim. Jonathan Prynn looks at the options facing Rachel Reeves and Keir Starmer

Evening Standard

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National Grid to pay £20m after failing to maintain critical substation

An investigation found National Grid failed to properly monitor or maintain the substation

The Independent UK

National Grid to pay £20m for Cumbrian substation licence breach

National Grid admitted breaching the terms of its licence at the Harker substation, near Carlisle in Cumbria, between November 2016 and November 2021.

Evening Standard

From energy bills to petrol and groceries: How the Iran-US war could affect cost of living in the UK

The impacts of the conflict have been compared to Russia’s war on Ukraine, which pushed prices up for British households

The Independent UK

Iran war could drive inflation to 3%, OBR warns in major blow for Reeves

Professor David Miles said the impact of conflict on UK prices could be ‘significant’ and ‘completely unwelcome’

The Independent UK

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How much will your energy bills and petrol prices rise by on the back of the Middle East war?

Consumers will see prices rise due to turmoil in the Middle East – but by how much?

Evening Standard

Ofgem boss to leave energy watchdog at the end of the month

Jonathan Brearley is moving to the Department for Energy Security

The Independent UK

Rachel Reeves dashed hospitality's hopes with her do nothing Spring Statement

My six point action plan could halt the decline and allow the sector to flourish again

Evening Standard

Three ways to combat energy bill rises as Iran-US war sparks price hike fears

Energy price rises are coming, despite Ofgem’s best efforts

The Independent UK

Energy bills could rise by £160 after Iran conflict pushes gas prices higher

Household costs could reach £1,800 a year from July as UK market hits three-year high

The Guardian - UK

Energy bills forecast to rise 10% from July as Middle East war drives up prices

Analysts Cornwall Insight said forecasts for Ofgem’s price cap for July to September had surged to £1,801 a year for a typical dual fuel household.

Evening Standard

Experts tell UK households to fix energy bills now amid Iran war price hike fears

Nearly 60 energy deals have already been removed or changed, experts warn

The Independent UK

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The Guardian - UK

Datacentre developers face calls to disclose effect on UK’s net emissions

Campaign groups write to technology secretary amid concerns that sites could double overall electricity demand

Evening Standard

Household energy debt doubles in three years to £5.5bn

Energy UK said around two million households are in debt to their supplier, and nearly three-fifths of them are not on repayment plans.

The Guardian - UK

Why the energy price cap in Great Britain is falling from April

Cap on average dual-fuel bill is to be reduced by 7% to £1,641 a year, but the saving is less than the chancellor promised

Evening Standard

When will energy bills be reduced? New Ofgem price cap revealed

Here’s everything you need to know about the reduction in energy bills:

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The Independent UK

What the Ofgem price cap change means for your energy bill

This latest change comes after Chancellor Rachel Reeves promised an £150 cut to average household bills

Evening Standard

Ofgem price cap – what is happening to my energy bill?

Changes to the price cap from April amount to a reduction of around £10 a month for the average household using both electricity and gas.

The Guardian - UK

Starmer says ‘more to do’ on cost of living despite £117 fall in energy bills from April - as it happened

Change in price cap amounts to £10 reduction a month to average annual bill of £1,641

Evening Standard

FTSE 100 Live 25 February: HSBC leads index to new record, Diageo slides on dividend cut

A results-day surge for HSBC shares today helped the FTSE 100 index set a new record.

Evening Standard

Energy bills to fall by £117 a year for millions of households from April

For the average household paying by direct debit the overall bill will be £1,641 per year from April.

Evening Standard

Household energy prices to fall by 7% from April 1

Chancellor Rachel Reeves said in November that £150 would be cut from the average household bill from April.

The Independent UK

Households energy bills to drop from April after Ofgem energy price cap is lowered

The change will see a reduction of around £10 a month for the average household using both electricity and gas

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