It would be a fair assumption that the majority of commercial end users of electricity think that the cost of electricity to be pretty much the same throughout the UK, whether they are based in Aberdeen, Kings Lynn or Weston Super-Mare. The reality is somewhat different with variation around the country based on a number of factors. Thus many clients express some consternation about similar consuming sites within a group having, sometimes very different pricing. continue
Torse Ltd are pleased to announce the launch of the Autumn Briefing – a guide to whats happening in the business energy market along with useful links, interviews and the latest renewal rates which you can also see on our homepage. In the Autumn 2013 briefing we look at whether all the hype about power cuts and energy shortages really should concern us, we look at the froth surrounding the controversial ‘fracking’ that has been causing a stir in the news and also provide a few updates on Green Deal, biomass and a scheme to create effective mini-EMS for business by Nottingham Energy Partnership.
Our briefing is designed to keep you in the loop and we would like to hear your comments on our current and previous briefings as well as possible item for future items – please use our contact page to provide us with feedback.
Ofgem has asked us to point out that it does not employ interns from the big six energy suppliers, contrary to an assertion in a blog post published on the Torse website on 3rd July 2013 entitled “Energy Sector Retail Market Review- Avoiding the Issue”. The regulator said: ” The truth is that Ofgem does not use interns from the big six energy companies and certainly did not use any interned staff employed by the big six energy companies in formulating the RMR.”
Torse apologises for any confusion caused by the publication of the article.
Many would agree that the monopoly of the Big Six on the industry is in serious need of re-assessment and Ofgem believe that greater market liquidity is the solution – this will allow more suppliers and generators to enter the market resulting in fiercer competition. As a result of pressure to increase market-liquidity from smaller market players, Ofgem released its report on ‘Wholesale power market liquidity: final proposals for a ‘Secure and Promote’ licence condition – Draft Impact Assessment’ 12th June 2013. The proposal made the following key recommendations:
The Climate Change Act 2008 legislated for a reduction in our carbon emissions and set legally binding carbon budgets across all sectors of the UK economy – including our homes, communities and workplaces and as part of this the government has made a pledge to reduce carbon emissions by 34% (of 1990 levels) by 2020 and 80% by 2050. UK domestic buildings are among the least efficient in the world and account for 38 per cent of the UK’s total greenhouse gas emissions. The Green Deal scheme has been set up by the government to make improvements in the efficiency of these buildings more accessible to the general population and aims to do the following:
Applied to the process of improvement is the “Golden Rule” – which ensures that repayments for the work completed to improve energy efficiency do not exceed the savings made by these improvements. So in effect, this is a medium to long term solution in terms of financial savings but has an immediate effect in terms of carbon reduction. continue
Climate Change Agreements (CCA’s) were introduced by the UK government in April 2001 as an incentive for businesses to reduce their energy bills and as a result, their carbon emissions. They are voluntary agreements containing targets for eligible industry sectors. This was introduced after the government implemented an energy tax (levy) which appeared directly on all business’s energy bills known as Climate Change Levy (CCL). CCL was originally intended to be tax neutral with a corollary reduction in National Insurance contributions. continue
In this ever-changing economic climate, it is not unusual for businesses to vacate sites or move into new premises. However, an often neglected aspect of the moving process is the closing down of your current utility accounts or ensuring the contract associated with your new site is in your business’s name. When contracts are agreed and signed, they are legally binding for the business, the supplier, and the property exactly as listed on the contract. As such, for the duration of the contract the occupant listed on the contract is responsible for all charges associated with that property and contract. If said occupant was to vacate the site, the contract becomes null and void. Imagine moving into a site and automatically assuming the previous occupants costs as they neglected to close their account!