Energylinx News

January 2015 Monthly Archive

January 26, 2015

Meet the newest member of Energy UK...

Energylinx are delighted to announce that we are the newest associate member of Energy UK, the trade association for the energy industry.

Energy UK provide a source of expert advice on all issues involving the energy industry and work hard at enhancing the reputation of the industry within the communities it aims to serve.

Energy UK currently represents over 80 members, made up predominately of generators and gas and electricity suppliers of all shapes and sizes. Together Energy UK members supply more than 26 million UK households and generate more than 90% of the UK's total electricity output. Energylinx are the first comparison site to gain membership.


To find out more about Energy UK click here.

Posted on January 26, 2015 at 12:31 PM

January 21, 2015

OFGEM Strengthen their Confidence Code

Today (January 21st 2015) Energy Regulator for the UK Gas and Electricity industries, OFGEM, updated their Confidence Code and set a new Gold Standard for Energy Price Comparison Sites.

As an OFGEM accredited Energy Comparison Site, Energylinx is delighted with today's announcement. We have championed for more transparency since 2004 and firmly believe that TPIs (Third Party Intermediaries) should be made to display all commissions paid to them.

The revised Gold Standard Confidence Code requires accredited sites to meet tighter standards on how tariffs are displayed. This is to encourage consumer confidence that deals aren't hidden from view. It means that all Energy Comparison Sites will have to prominently display energy companies that they have commission agreements with. Energylinx is already fully compliant with the new changes that OFGEM will roll out to every accredited site in March of this year.

A summary of the new Gold Standard Confidence Code from OFGEM.

Banning a default partial view: Unless a customer using a comparison site actively chooses to only see a smaller number of tariffs, sites MUST show all tariffs available on the market.

Ending confusing language: The wording of any choice must be very clear to site users and OFGEM approved. Sites must test their messaging with consumers and be able to prove that it is clear and simple and will have to be able to demonstrate this.

Making commission arrangements transparent: It must be clearly displayed what commissions a site makes through a customer switching on their site.

Rachel Fletcher, Ofgem senior partner, said:

"Our market reforms have made it easier for consumers to pick out better deals and switch suppliers. There has never been a better time to switch - consumers can make savings of around £200 by switching. Comparison sites are a great place to start energy shopping, but customers need to feel confident that the sites are providing information they can trust. From the end of March, Confidence Code accredited sites will need to be more transparent with their users and I'd encourage them to meet these new standards earlier."

Any sites that do not meet the new gold standards before the end of March 2015 then they will lose their accreditation. OFGEM will continue to review their Confidence Code to ensure that it continues to provide a high level of consumer protection.

In the meantime whilst we await the publication Energylinx would encourage the entire industry to embrace, and not be afraid of these changes which can only help empower the householder.

Posted on January 21, 2015 at 10:32 AM

January 19, 2015

British Gas set to cut gas bills by 5%

Today British Gas have announced plans to reduce household gas prices by 5%, cutting annual energy bills by £37 on average.

The supplier, owned by Centrica plc, said that a MASSIVE 6.8m customers will benefit from this decrease in British Gas' standard tariff's, including all customers on their Fix & Fall tariffs. The reduction will come in to place on February 27th 2015.

The news of the gas price reduction encouraged Prime Minister, David Cameron, to tweet the following "It's welcome to see British Gas cutting prices. We'll continue to encourage energy firms to pass on falls in wholesale prices to customers."

Despite that the gas being used to heat peoples home today was bought at the higher 2013/14 prices, British Gas have decided to pass on the saving made from the wholesale gas prices for 2015. Due to the volatility of wholesale prices, British Gas will be keeping their prices under review.

Commenting on the announcement, Iain Conn, Chief Executive of Centrica plc, said:

"We've been watching the significant moves in the international energy market extremely closely for some time, with the aim of helping customers with a price cut at the earliest possible opportunity. Operating in such a volatile market, no pricing decision is straightforward.

"We bear the responsibility of managing the risks of buying energy ahead on behalf of our customers, who value the predictability this brings. Taking this decision now, at a time of continuing uncertainty, shows our absolute commitment to pricing competitively, with customers at the forefront of our minds."

Ian Peters, Interim Managing Director of British Gas, said:

"This price cut, worth £37 off the average annual bill, will help our customers keep their energy costs down at a time when many household budgets are still under pressure. We're pleased that existing customers on our Fix & Fall tariffs will also see the benefit of this price reduction.

"We know customers expect competitive pricing and good value from British Gas and we continue to keep our prices under constant review. We have a range of competitively priced products, fixed and variable, to suit customers' needs and preferences.

"We'll also continue to lead in the development of innovative products and technologies to put customers in control of their energy usage and help them keep their energy bills as low as possible."

In line with its usual practice, British Gas' parent company, Centrica plc, will provide an update on the 2015 financial outlook in its Preliminary Results announcement on 19 February 2015, including the impact of the change to UK residential energy prices and of lower wholesale commodity prices across the Group.

Posted on January 19, 2015 at 12:16 PM

January 13, 2015

E.ON cuts gas prices by 3.5%

Falling gas prices finally means cheaper energy bills!

Wholesale gas costs fell 26% between the third quarter of 2013 and the same period in 2014 and have continued to fall further since, but until today no supplier had reduced the price of their gas.

E.on are paving the way for the rest, as of 9am today they have reduced the prices of 4 core products. This means an average annual saving of £24 for some 2 million of their 4.5 million domestic customers that automatically benefit from the decrease. Others will be given the option to move to a cheaper tariff. E.on now believe that they have the country's cheapest energy tariff, with a one-year fixed dual-fuel product averaging an annual price of £923.

The 4 tariffs effected by the price decrease are:
• Age UK fixed 2 Year,
• E.On Energy Fixed 1 Year,
• E.on Energy Fixed 2 Year,
• E.on Energy Plan.

Those on their fixed 1 year will see some of the biggest reductions with up to a massive £223 being wiped off some dual-fuel customer's annual bill.

Chief executive Tony Cocker said:

"Today's 3.5% cut to our standard gas price and the launch of the UK's cheapest energy tariff, our one year fixed product, demonstrate that we fundamentally believe in doing the right thing for our customers. This is further evidenced by the fact we are the first supplier to reflect through our standard tariff the overall drop in wholesale gas prices this winter.

While oil prices have slumped, the gas price has remained volatile - some days up, some days down - and many of the other non-energy costs that we don't control but make up a customer's bill have increased and are set to increase further.

Today we've taken steps so we can make a price cut on our standard gas tariff at the same time as offering customers, existing and new, the chance to sign up to the UK's lowest priced energy tariff. As we have always said where it is possible we will try to pass savings on to our customers."

To take advantage of this historic price decrease please visit www.energylinx.co.uk and see what you could save now.

Posted on January 13, 2015 at 09:00 AM