Record number of UK energy clients changed supplier in February

12/03/2018 09:39 Energy


A record number of British energy clients changed supplier in February, as indicated by data from industry group Energy UK on Monday.

Despite February being the shortest month of the year, almost 668,000 customers transferred during the month, which is the highest monthly switching figure registered.

The data comes as Britain’s energy companies are under pressure to cut bills and as regulator Ofgem prepares to release a price limit on the most broadly used tariffs.

It also continues last year’s evolution when a record of 5.5 million customers switched in 2017, or a hike from 4.8 million in 2016, according to Energy UK.

Even though the data did not show exactly which companies gained or lost customers, still almost half the switches were between huge suppliers, while almost a quarter of switches were from bigger firms to smaller suppliers.

At present, there are more than 60 energy suppliers in Britain.

Britain’s major energy suppliers, operating about 80 percent of the market are Centrica’s British Gas, SSE, E.ON, EDF Energy, Innogy’s Npower and Iberdrola’s Scottish Power.

Daily (17.07.2018): Brent crude price slumped by more than 4% on Monday, as Libyan ports relaunched

17/07/2018 12:01:00

Oil prices plummeted on Monday, as ports in Libya resumed their activity and traders count on a boost in supply from Russia and other producers. Brent crude tumbled by 4.6% to $71.84 a barrel, its lowest level since the middle of April. Meanwhile, WTI crude slumped by 4.2% to end at $68.06 a barrel.


Ireland becomes world’s first nation to divest from fossil fuels

17/07/2018 09:53:00

Ireland has voted to become the first country in the world to divest from fossil fuels.


Gazprom to commence development of Kharasaveyskoye field in 2019

17/07/2018 09:23:00

Russian firm Gazprom is planning to commence the full-scale development of the Kharasaveyskoye field located north of Bovanenkovskoye in the Yamal Peninsula, in 2019.