Page 6 - Gi_Dec2021Jan2022

industry & Government news

DIGEST in home energy bills and fears of a cost-
of-living crisis this winter.
Out of the four UK casualties, Zebra
Power had the largest customer base
and supplied 14,800 households with
energy. Omni Energy supplied about
6,000 domestic pre-payment customers,
while AmpowerUK had about 600 UK
customers and supplied a further 2,000
overseas households. MA Energy had
about 300 overseas customers.
Scores more energy suppliers are
expected to collapse in the months
ahead as gas markets remain at near-
record highs, and suppliers are forced
to shoulder the higher costs without
raising their tariffs above the regulator’s
energy price cap.
Consumer charity Citizens Advice
said struggling households would
ultimately pay the price “with
uncertainty, inconvenience and
ultimately higher bills” as suppliers
continue “to fall like dominoes”.
The energy regulator set out plans for
“bold action” to fast-track changes to
its price cap, which protects around 15
million households from unfair energy
SMALLER SUPPLIERS HAVE STRUGGLED IN THE FACE OF SOARING PRICES bills, following growing calls from
suppliers to make the cap more flexible
FOUR MORE UK ENERGY SUPPLIERS so that market increases can be passed
on to households sooner.
The price cap overhaul has emerged
GO BUST AMID HIGH GAS PRICES amid deepening concerns that gas
prices, which are more than three
times higher than this time last year,
ANOTHER FOUR ENERGY suppliers since the start of September, affecting may resume their upward climb as
have gone bust as historic gas market more than two million households. temperatures plunge across Europe and
highs continue to rip through the UK’s The flurry of failures follows rocketing Russia squeezes gas exports to Europe.
energy market amid fresh fears that global energy market prices due to a Gas flows from Russia’s state-owned
Russia may curb gas supplies to Europe. sudden surge in demand for gas as gas giant Gazprom, which supplies
Energy regulator Ofgem said the economies begin to shrug off restrictions about a third of Europe’s gas, have
collapse of four small energy suppliers related to the Covid-19 pandemic, dropped significantly and the company
leaves about 24,000 households in need reports The Guardian. Gas markets have has declined to offer extra gas supplies
of a new supplier and brings the total reached record highs in recent weeks, to Europe from January, when demand
number of bust energy companies to 17 leading to one of the sharpest increases is often at its highest for the winter.

HOUSEHOLDS TO BE OFFERED £5,000 TO DITCH GAS BOILERS

ALL NEW GAS BOILER installations The measure is part of the highly launched a new boiler upgrade scheme
will be banned across the UK by 2035, anticipated Heat and Buildings through which households will benefit
the Prime Minister has confirmed. Strategy, the first of its kind in from £5,000 grants to help install low
That means that all new heating England, laying out the government’s carbon heating technologies, including
systems will use low carbon priorities in tackling emissions in heat pumps.
technologies, such as electric heat homes and businesses. The scheme is part of more than £3.9
pumps, or support promising The strategy, which builds on billion of new funding to decarbonise
technologies like hydrogen-ready pledges previously included in the heat and buildings.
boilers, according to Energy Live News. 10-point plan and the Energy White The government has also launched a
The government has also clarified that Paper, aims to motivate people to £60 million innovation fund designed
no one will be forced to remove their replace their old gas boilers with low to make clean heat systems smaller and
existing fossil fuel boilers during this carbon heating systems. easier to install and cheaper to run.
transition period of the next 14 years. More specifically, the government Prime Minister Boris Johnson said:

06

18/11/2021 11:28
News.indd 1 18/11/2021 11:28
News.indd 1