Reducing red tape has to be the focus for the next government

Welcome to the June issue of Energy Bulletin. This is your monthly round up of all the latest news to help you to navigate the complex energy market, providing helpful insight so you can plan your energy strategy in the most effective way possible.

In this edition, we cover:

• A view from our Chief Operating Officer, Anthony Ainsworth : As the UK heads to the polls, he looks at what energy policies UK businesses want to see from the next UK government, and why reducing red tape needs to be a priority
• Biggest change to electricity sector in 40 years. Sign up to our webinar
• What to read and watch this month

A view from our COO, Anthony Ainsworth

In a few days, the UK will head to the polls to elect its next government. In what has been a hotly contested and intense period of General Election campaigning, policies around energy and net zero have been front and centre for the main political parties.

Of course, while each party has a slightly different approach to tackling how the UK will achieve net zero by 2050 and ensure the UK’s long term energy security, the ambition is broadly similar.?

Whichever way the vote goes on 4 July, it is likely that there will be changes at the top of UK government. This means there is an opportunity to inform policy makers about which energy and net zero policies do - and which don't - work for businesses.

I recently discussed this, and a number of other areas, in a podcast with Sumit Bose of Energy Live News . I also talked about the launch of a new campaign - our ‘Red Tape Challenge’ to the next government. On behalf of businesses, we want to cut through the noise, reduce red tape and put clear policy and pathways in place to support business and net zero.

The full recording is available to watch here.

Energy update: Biggest change to electricity sector in 40 years

Market-wide Half-Hourly Settlement – or MHHS for short – is the biggest change to impact the electricity sector since privatisation.

Set to be one the biggest transformations to the British electricity market since privatisation, at its heart is unlocking more granular and timely data to understand how and when all consumers use electricity.

To help you understand what this means for you, as an energy consumer, join our 45-minute webinar .

What to read and watch this month

3 wholesale energy market factors to keep an eye on

Over the past few years, navigating how multiple factors, including geopolitics, government policy and the weather, impact the price your business pays has never been more challenging. However, is the energy market becoming more stable or is the volatility here to stay?

In our latest update, Optimisation Desk Manager, Andrew Crabtree outlines what three factors your business needs to keep an eye on.

Will energy costs go down in the UK?

Even though the wholesale cost of energy has fallen to three-year lows, following the eye-watering highs we saw after the start of the Russia/Ukraine conflict, many customers are asking why electricity is still so expensive.

The quick answer is non-commodity charges.

In a recent blog by our Senior Costing and Risk Manager, Stephen Evans ? , he explains the reason why – and how this sizeable element added to invoices is set to increase further still over the coming decade.

New regulations for UK businesses and energy brokers

Under the Non-Domestic Market Review, smaller businesses will now have their own defined customer category and will benefit from some of the same rights that microbusinesses are entitled to.

Energy brokers – or third-party intermediaries (TPIs) – will also be impacted, with tighter regulations and mandatory accreditation being introduced for the current voluntary Code of Practice. And, energy-related ‘Change of Tenancy’ processes are also under review.

Read about the new measures here from Regulation Advisor, Pardeep Bansi .

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