The 'big six' energy companies have won a legal challenge to the way the price cap imposed on them was calculated.
SSE, along with rivals nPower, EDF, E.ON and Scottish Power, backed the case brought against the regulator Ofgem by British Gas parent firm, Centrica. They argued each suffered unnecessary financial losses when the new rules - aimed at ensuring default standard variable tariffs for households did not amount to a rip-off - were first introduced in January.British Gas , the UK's largest household energy supplier, brought the case with support from its rivalsThe High Court heard that a change to the regulator's original plans meant firms had hedged - fixed - their wholesale energy costs in the wrong period.
Mrs Justice Andrews, who said the cap was hastily introduced, ruled:"British Gas succeeds in its claim and is entitled to the declaratory relief that it has sought."
Source: Energy Industry News (energyindustrynews.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inflation falls to near three-year low with energy price capInflation fell to its lowest level in nearly three years in October, official figures show. You forgot to say 'Despite Brexit' Your political activists, apologies, journalists, will be very disappointed with this news.
Source: SkyNews - 🏆 35. / 67 Read more »
Climate change: do more now or risk catastrophe, warns energy agencyIEA says deep disparity between words and action on climate change risks failing to cap global temperatures People argue that the economy will suffer if we devote too many resources to addressing climate change. What they overlook is that if we don't address climate change with everything we've got there won't BE an economy at all. Lol. No sale! More propaganda
Source: The Guardian - 🏆 84. / 53 Read more »
Bolivia's Evo Morales says he is leaving for Mexico, but will return with 'energy'Former president says it hurts to leave ‘for political reasons’ as Peru confirms Mexican government plane is bound for Bolivia He’s coming back straight to prison They'll have plenty of hookers and blow for him. If your Spanish is good... This is worth watching
Source: The Guardian - 🏆 84. / 53 Read more »
Inflation falls to three-year low in OctoberOfficial data shows UK consumer prices rose 1.5% as a new price cap kept a lid on energy prices. Translation: Vote Tory Why is there rise of food banks why are wages and salaries not getting better ? Why are working families still facing difficulties? If indeed inflation fell why then don't the public feel it in their respective lives 🤷🏾♂️ numbers may look good but society still suffering largely Energy bills continue to rise every year and we get the occasional 1% drop in cost. Doesn't really matter if it goes up about 10% every couple of years.
Source: BBCNews - 🏆 3. / 97 Read more »
Inflation falls to near three-year low with energy price capInflation fell to its lowest level in nearly three years in October, official figures show. You forgot to say 'Despite Brexit' Your political activists, apologies, journalists, will be very disappointed with this news.
Source: SkyNews - 🏆 35. / 67 Read more »
Scientist who takes on firms causing wildfires wins John Maddox prizeBambang Hero Saharjo has received death threats for testifying against companies WE could use him in CA to deal with PG&E '“My colleagues tell me I am ‘most wanted’ by the companies behind the fires and that they can do anything they want to me, my family and my career...Of course I think about that, but as a scientist I have to say the truth.' PalmOil JJP Rainforest Slashandburn AirPollution Hero in deed.
Source: The Guardian - 🏆 84. / 53 Read more »