Government says no to allowing Ofgem to force energy tariff cuts

MPs have voted against the fast tracking of legislation to give industry regulator OFGEM the power to force an energy tariff price cut. The initiative by Labour Leader Ed Miliband was criticised by Ed Davey who pointed to the increased competitiveness of the market. He went on to say, “Labours proposed regulations involving wholesale-retail price links would produce yo-yo pricing and higher...
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Falling oil prices to cut utility costs

The fall in Brent crude oil prices is expected to produce lower costs for utility companies on the cusp of the General Election.  RBC Capital said the heavy losses in global oil markets since last summer will impact more than a third of gas in Europe, which is still bought through oil-indexed supply contracts that usually have a two- to six-month time lag. This means we may see more generous...
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