Ofgem

✋ Need support managing your energy this winter? Sign up to the Priority Services Register for extra help Help can vary based on your personal circumstances and your supplier but could include what we cover in the video below - and more! More details here👇 http://ow.ly/ommW50M33mp

We are continuing to review the role of standing charges and are encouraging suppliers to offer more tariff diversity. We are calling on them to offer more deals with low or no standing charges that can reward energy efficient customers for cutting their usage this winter. Giving consumers more options to choose the tariff that best suits their needs creates a healthier market. As the price cap is changing we urge customers to shop around as there are deals out there that could offer savings. We will continue work with suppliers to understand why they are not offering more options and if necessary, consult on ways to increase that diversity through price cap regulation. Follow the link for more on our ongoing review into standing charges https://ow.ly/szzh50T4I6Z

Energy bills are made up of a number of costs         They include:    ⚡ Wholesale costs    🔌 Network costs    🌳 Social and environmental obligations    🏭 Supplier costs and margin     💷 Taxes, like VAT        https://lnkd.in/e2MXwd7u      #EnergyAware

From 1 Oct 2024 Price Cap average direct debit unit rates for energy;    ELECTRICITY  Unit rate: 24.50p per kWh  Standing charge: 60.99p per day    GAS  Unit rate: 6.24p per kWh  Standing charge: 31.66p per day    These are caps on unit rates plus the standing charge (not a cap on total bills)    Energy price cap (default tariff) levels | Ofgem 

The quarterly energy Price Cap will change from 1 Oct 2024.  The new #PriceCap is £1717    The level is based on the typical use of an average household on a supplier’s standard default tariff.    It's a cap on the energy unit price suppliers can charge, not a cap on our total bills. If you use more, you will spend more.    More on how this might affect you ⬇️ 

Energy theft also costs energy consumers in Great Britain (England, Scotland and Wales) over £1.4 billion a year. Some people try to pay less for their gas and electricity by tampering with their meters. This is known as energy theft. Meter tampering is illegal and dangerous. It can cause property damage, injury or death. To learn more about energy theft and how to identify signs of it ⬇️ https://ow.ly/aJQ550SZg0F

UK energy regulator Ofgem is introducing a new process that gives innovators more opportunities to apply or re-apply to the Strategic Innovation Fund (SIF). SIF projects support efforts to cut energy bills, excessive carbon emissions and energy insecurity by accelerating the transition to clean, domestic energy. According to Ofgem, the changes will make the SIF more flexible and create more opportunities to apply for funding. Over £95m was announced for 10 projects through SIF in July of 2023. Projects being developed include technologies that will enable more flexible use of energy, artificial intelligence (AI) and weather data systems to predict energy network risks and faults, and circuit breakers that enable the increasing amounts of power generated by offshore wind to be connected to the grid more efficiently. Launched in 2021, the fund is expected to invest £450m by 2026. Read more here 👇 https://lnkd.in/ebz3z_qP #theengineer #UK #energy #SIF #funding

📣 Great news from the Ofgem Strategic Innovation Fund, delivered in partnership with Innovate UK - The Strategic Innovation Fund (SIF) process has been revamped to speed up the journey to net zero. Innovators now have more opportunities to secure funding, with increased flexibility and faster timelines. 🔍 Key Changes: * Three application windows per year for all phases (Discovery, Alpha, Beta) * Flexible start dates & project durations * Accelerated project lifecycles—complete in as little as 23 months Innovate UK’s Strategic Innovation Fund Programme Director, Jodie Giles, emphasises, "These enhancements will streamline processes and drive forward the energy transition with greater efficiency and flexibility."
 🔗 Find out more here: https://ow.ly/RrFF50T1S1c... 🔗 Listen to details of the changes on our podcast here: https://ow.ly/CYSa50T1S1b

Energy theft also costs energy consumers in Great Britain (England, Scotland and Wales) over £1.4 billion a year. Some people try to pay less for their gas and electricity by tampering with their meters. This is known as energy theft. Meter tampering is illegal and dangerous. It can cause property damage, injury or death. To learn more about energy theft and how to identify signs of it ⬇️ https://ow.ly/aJQ550SZg0F

🙋 We are pleased to announce the introduction of a more streamlined process which gives innovators more opportunities to apply (or re-apply) to the Strategic Innovation Fund (SIF). This faster process means access to funding quicker than ever before. SIF projects support efforts to end the era of high energy bills, excessive carbon emissions and energy insecurity by accelerating the transition to clean, homegrown energy. The changes, which follow extensive engagement with stakeholders, will make the SIF more flexible and create more opportunities to apply for funding. 🎧 Put your headphones on and listen to our Deputy Director or Strategy, Marzia Zafar, talk about the new approach to SIF ⬇️ https://lnkd.in/eMWpMfx7