Business energy news - July 2016

Our pick of the most relevant energy political and market news items, updated every month.

Parliament

Top energy headlines 

Businesses could achieve 60% of Paris emissions pledges, new report claims

Private sector businesses could achieve 60% of the cuts in global emissions pledged at last year’s COP21 summit in Paris, a new report issued by We Mean Business has claimed. (cleanenergynews.co.uk)

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British offshore wind projects at risk after Brexit vote

The British offshore wind industry, already bruised by subsidy changes, faces uncertainty after Britain voted to leave the European Union, with investors worried about future government incentives, exchange rates and export duties. (reuters.com)

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Climate Change Committee: Fracking only viable if strict carbon conditions met

Long-awaited CCC shale gas report says three 'tests' on methane leaks, gas consumption and emissions offsetting must be met if fracking is to be delivered in the UK. (businessgreen.com)

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UN calls for post-Brexit UK to link with EU on environment policy

Global or regional agreements are vital for cross-border problems such as pollution and wildlife crime, says new environment chief, Erik Solheim. (businessgreen.com)

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Business rates tax hike expected for commercial rooftop solar

Businesses with solar rooftop installations are being warned to expect an increase in business rates taxes of up to eight times the current levels as of April 2017 following a re-evaluation of how these assets are valued. (cleanenergynews.co.uk)

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UK solar breaks new record, meeting almost a quarter of electricity demand

UK solar met 23.9% of electricity demand in early June following a period of rapid installation activity earlier this year. (solarpowerportal.co.uk)

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E.ON Updates

Our webinars are helping customers understand the energy industry

Following on from the successes earlier in the year, we held a series of online webinars in May and June, to help our customers better understand a wide range of aspects of the energy industry. If you missed them, they’re still available to watch below.

 Three experts from E.ON talked about separate areas of the energy industry, sharing their insight and knowledge. Wasif Anwar, our

“Great to have some added value information and content from suppliers.”

Tobias Morris, Auditel

Costing Development Manager, guided the viewers through the world of third party costs. This not only covered what had affected these costs in the past, but also what might be expected going forward.

We also had a look at the energy market with Zack Stevens from E.ON Portfolio Solution, who likewise gave the viewers an idea of what direction the energy market is heading in.

And finally, Steve Russell explained how regulatory changes have impacted you as our customer and what to keep an eye out for in the future.

We had a high number of customers attend these webinars. After attending the update on the energy market, Tobias Morris from cost management solutions company Auditel said it was “a really good webinar”, and that it was “great to have some added value information and content from suppliers.”

If you missed the webinars, they are available to watch below. Your account manager can also provide you with copies of the slides used.

Energy Costs

We explore third party costs to help you understand how your energy bill is made up and what is likely to happen to third party costs in the future.

The information (including any forecasts or projections) contained in this slide deck (the “information”) reflects the views and opinions of E.ON UK plc on 26th May 2016 . The information is intended as a guide only and nothing contained within this slide deck is to be taken, or relied upon, as advice. E.ON UK plc makes no warranties, representations or undertakings about any of the information (including, without limitation, any as to its quality, accuracy, completeness or fitness for any particular purpose) and E.ON UK plc accepts no liability whatsoever for any action or omission taken by you in relation the information. Any reliance you place on the information is solely at your own risk. This slide deck is the property of E.ON and you may not copy, modify, publish, repost or distribute it. ©E.ON 2016

Energy Markets

We'll help you understand and explore the energy market in 2016.

The information (including any forecasts or projections) contained in this slide deck (the “information”) reflects the views and opinions of E.ON UK plc on 9th June 2016 . The information is intended as a guide only and nothing contained within this slide deck is to be taken, or relied upon, as advice. E.ON UK plc makes no warranties, representations or undertakings about any of the information (including, without limitation, any as to its quality, accuracy, completeness or fitness for any particular purpose) and E.ON UK plc accepts no liability whatsoever for any action or omission taken by you in relation the information. Any reliance you place on the information is solely at your own risk. This slide deck is the property of E.ON and you may not copy, modify, publish, repost or distribute it. ©E.ON 2016

Energy Regulation webinar

Find out more about the world of energy regulation - helping you understand the regulations which could affect you now and in the future.

The information (including any forecasts or projections) contained in this slide deck (the “information”) reflects the views and opinions of E.ON UK plc on 16th June 2016 . The information is intended as a guide only and nothing contained within this slide deck is to be taken, or relied upon, as advice. E.ON UK plc makes no warranties, representations or undertakings about any of the information (including, without limitation, any as to its quality, accuracy, completeness or fitness for any particular purpose) and E.ON UK plc accepts no liability whatsoever for any action or omission taken by you in relation the information. Any reliance you place on the information is solely at your own risk. This slide deck is the property of E.ON and you may not copy, modify, publish, repost or distribute it. ©E.ON 2016


Market update

 

Market summary for June 2016

Gas: Gas prices rise during market uncertainty.

Power: Power prices follow the cost of fuels.

Oil: Oil prices move sideways as bull run loses steam.

Carbon: European Carbon prices crashed over 20%.

For a detailed look at the energy markets for the past month, download the full report here.



Political briefing

Select Committee holds session on CMA inquiry

The Energy and Climate Change Select Committee have held a session on the CMA’s proposed market reforms. In a two part session they heard from Chair of the CMA energy market investigation panel Roger Witcomb as well as Citizens Advice, Which? and Energy UK.

Pete Moorey from Which? said that the energy market was not working for consumers and that Ofgem still had a lot of work to do. He said that customers expect action and that suppliers need to work with Ofgem to implement the CMA proposals. He also stated that it will take time but that Ofgem and the CMA need to make sure remedies are making a difference.

CMA logo - E.ONAudrey Gallagher said that Energy UK were broadly supportive of recommendations and advocated the introduction of trials and testing in order to understand how the remedies will work in practice. She said that there was an enduring lack of trust and that she recognises that there is a lot to do in order to rebuild that trust with customers. She said that we need to be moving forward on a voluntary basis and do it quickly.

Conservative MP James Heappey asked about the transitional price cap for prepayment customers and what they hoped it would accomplish. Witcomb explained that the deals offered to prepayment customers were poor, and said that there were technical issues within the system which made it difficult for competitors to enter this market. The CMA added that if people were indebted and on prepayment it was very difficult to switch.

Antoinette Sandbach MP noted the issue of “sticky customers” and the proposed customer database. She suggested that unsolicited marketing could be a risk. Witcomb noted these concerns and said that this was why safeguards had been introduced. He stated that the information would be given to Ofgem, who would then decide on the most effective use.