Latest news with #energyfirm
The Independent
17-06-2025
- Business
- The Independent
Utilita to pay £277,000 for Warm Home Discount payment failures
Energy firm Utilita is to pay around £277,000 in compensation after failing to pay its Warm Home Discount payments on time, Ofgem said. The regulator found Utilita – which supplies 800,000 customers – failed to pass on the mandatory discount to more than 4,000 customers over 2023 to 2024 because of an internal error in processing payments. The Warm Home Discount scheme – which is administered by Ofgem on behalf of the Government – helps eligible energy consumers on low incomes by offering an automatic payment of £150 each year. Ofgem said Utilita had agreed to pay £247,000 of compensation to those affected, who will receive further payments of up to £150 each. This is in addition to £30,000 of compensation Utilita paid to affected customers shortly after the error was identified. Cathryn Scott, regulatory director of market oversight and enforcement at Ofgem, said: 'The Warm Home Discount is a lifeline for vulnerable energy consumers on low incomes. Even a short delay in making these payments can cause harm to vulnerable customers, so it's vital that suppliers make these payments on time and without hassle. 'Unfortunately, on this occasion, Utilita fell short of our standards by failing to pay some of their customers in a timely manner. Utilita has conducted an audit of their Warm Home Discount processes to make sure this doesn't happen again. 'It's our duty to protect consumers. Today's outcome, as well as the findings set out in our Supplier Performance Report, serve as a reminder to all suppliers that failures to make scheme payments on time are unacceptable, and that we can and will take enforcement action to put things right for customers.'
Daily Mail
06-06-2025
- Business
- Daily Mail
Family faces shock £1,400 demand for meter switch-off or face having no heating
An energy firm tried to charge a Scots family £1,400 to change their meter before it is switched off this month, it has emerged. MSPs and consumer groups last night issued a warning to families that their energy supplier must pay the cost of replacing Radio Teleswitching Systems (RTS) meters. It follows revelations that a supplier tried to charge one Orkney household £1,400 to replace their meter, including £200 for a hotel booking, £382 for a ferry and £820 for a day's work. The supplier – which has not been named – only backtracked from forcing the family to pay when challenged by Liam McArthur, Liberal Democrat MSP for Orkney. It triggered a warning that customers should never pay for work which needs to take place before the RTS system is shut down at the end of this month. As of last month, 124,864 of the RTS meters still needed to be replaced in Scotland. Mr McArthur, said: 'I am deeply concerned to hear reports of some energy suppliers attempting to charge constituents to have their RTS meters replaced with smart meters. 'It is the obligation of suppliers to ensure customers have a working meter, and that there are no upfront costs for customers, including businesses, who pay for their meters through billing. 'Suppliers should also not be telling customers in places such as Orkney that they are required to cover costs related to accommodation or travel for engineers. This is simply not the case.' Mr McArthur said he contacted the supplier and it dropped the demand for payment. The RTS system – a feature of older electricity meters linked to heating and hot water usage – uses a longwave radio frequency to switch between peak and off-peak rates. But the technology is becoming obsolete and energy firms have a deadline to change customers' meters by June 30. It has led to concerns that some households could lose their heating and hot water if their meter is not replaced in time. Andrew Bartlett, chief executive of Advice Direct Scotland, which runs said: 'Suppliers should install smart meters at no cost. If that is not possible, they still have a duty to replace RTS meters with a suitable alternative, and customers should not be charged.' Advice Direct Scotland supported one customer who faced a £700 kitchen repair bill following a meter replacement, and another quoted £1,290 to move a fuse by an inch for a smart meter. Energy UK, which represents most suppliers but not the one responsible for imposing the £1,400 charge in Orkney, said: 'Customers should not expect to pay for an RTS meter replacement. We also urge customers to look out for scammers pretending to be suppliers.' A spokesman for Ofgem said: 'We will look into this and hold to account any supplier that breaches our rules.'
Bloomberg
03-06-2025
- Business
- Bloomberg
Petronas Is Said to Explore Sale of $7 Billion Canadian Business
Petroliam Nasional Bhd. is considering options for its Canadian company formerly known as Progress Energy Resources Corp., including a sale, according to people familiar with the matter. Petronas, as the Malaysian state energy firm is known, is working with a financial adviser on a potential disposal, the people said, asking not to be identified because the deliberations are private. A transaction could value the Canadian business at $6 billion to $7 billion, they said.
The Standard
18-05-2025
- Business
- The Standard
Paul Chan teases world's largest IPO in HK
Chan wrote in his blog that a major mainland Chinese new energy firm is set to debut on the city's stock exchange on Tuesday. SING TAO
Yahoo
16-05-2025
- Business
- Yahoo
ReNew Energy to set up $2.57 billion solar, wind project in India
(Reuters) -ReNew Energy Global, said on Friday it will invest 220 billion rupees ($2.57 billion) to set up a hybrid renewable energy project in the eastern Indian state of Andhra Pradesh, as it looks to cash in on the country's booming clean energy needs. The company said the project will add 2.8 gigawatts (GW) total energy -- 1.8 GW solar and 1 GW wind -- and will be able to supply power for up to four hours a day in peak hours. ReNew Energy, the biggest renewable energy firm in India after Adani Green, has projects across ten Indian states, with a total global portfolio of 17.4 GW as of February 14. India has been scrambling to meet its clean energy targets after falling short in 2022. Over the past year, the country has ramped up investments in the sector, but it still needs to double capacity additions over the next five years to meet its target of 500 GW non-fossil power capacity by 2030, a Global Energy Monitor report showed. ($1 = 85.5870 Indian rupees) Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
