Energy companies face investigation over 27pc gap in wholesale price

Forensic accountants hired by Ofgem will scrutinise the wholesale fuel prices paid by the Big Six energy companies, as it emerged there was a 27pc difference in how much suppliers paid for electricity and 15pc in gas last year.

http://www.telegraph.co.uk/finance/newsbysector/energy/8616276/Energy-companies-face-investigation-over-27pc-gap-in-wholesale-price.html

Energy and Gas Price Increases

Despite being investigated by Ofgem for unfounded energy and gas prices increases and threats of being reported to the Competition Commission,  Britains biggest utilities suppliers are hinting at price increases within the next few weeks.

http://www.catalyst-commercial.co.uk/blog/latest-news/energy-and-gas-price-increases/

EDF Energy to revise new nuclear date this autumn

Britain's largest nuclear power producer, EDF Energy , will announce this autumn a new date for the startup of its first new nuclear power plant in Britain, its Chief Executive said on Tuesday.

"We will revise the timetable this autumn," Vincent de Rivaz, who heads up the French utility's UK operations, said at an industry conference in London.

http://uk.finance.yahoo.com/news/EDF-Energy-revise-new-nuclear-targetukfocus-2094149879.html?x=0

Energy Market Report July 2011

Our monthly analysis of the UK gas and power markets is now available on line for the month of July 2011. The service is intended to keep you up to date with all the major news in Europe’s gas and power markets. It is also designed to keep power executives focused on market activity in an easy to digest format.

http://www.catalyst-commercial.co.uk/blog/latest-news/energy-market-report-july-2011/

UK gas up on LNG supply drop, power rises on outages

British wholesale gas prices rose on Monday afternoon after a drop in supply from a liquefied natural gas (LNG) terminal left the system short.

Within-day gas prices gained 0.60 pence to 56.35 pence per therm at 1635 GMT, while Tuesday gas rose 0.35 pence to 56.25 pence, after prices had fallen slightly on Monday morning.

A drop in flows from the Isle of Grain terminal off the west coast caused a shortfall in supply to the market, which was around 2 million cubic metres short on Monday afternoon,National Grid data showed.

A ramp-up in gas imports from Norway via the Langeled pipeline failed to make up for the shortfall.        http://af.reuters.com/article/energyOilNews/idAFL6E7I424E20110704

Government 'tinkers' with CRC

Simplifying measures for the CRC have been criticised as 'tinkering around the edges' by business.

Climate change minister, Greg Barker, announced yesterday (June 30) the 'next steps' in simplifying the CRC Energy Efficiency Scheme.

Most notably in the simplification measures the number of the fuels subject to the scheme have been cut from 29 to 4.

A rule which requires CRC participants to account for at least 90% of their total carbon footprint emissions has also be scrapped.

Mr Barker has admitted in the past the incentive element of the CRC was cut to fill a Treasury black hole, but his plans to reform the CRC fall far short of what business leaders had hoped for.

British Gas fined £1million after supplying less green energy to business than claimed

British Gas has been fined £1million for supplying less green energy to its business customers than it stated.

British Gas Business will also have to repay more than £2.8million in rewards to the Government for falling short of its renewable energy targets, but it would have received a 'much higher' penalty if it wasn't for the fact it reported the error itself, energy regulator Ofgem said.         

Read more: http://www.thisismoney.co.uk/money/news/article-2010323/British-Gas-fined-supplying-green-energy-business-claimed.html#ixzz1R5Dxc1GK