Energy news in general

StartledJesus

In other news Ofgem announced plans to review the price cap every 20 minutes, instead of every 6 months.

I jest of course. 

That would be like a permanent 7 Labours of Hercules. Or 9 Labours after inflation. 

facade

StartledJesus said:

In other news Ofgem announced plans to review the price cap every 20 minutes, instead of every 6 months.

I jest of course. 

That would be like a permanent 7 Labours of Hercules. Or 9 Labours after inflation. 

There is no reason why they couldn't update every month, unless I completely miss-understand how "computaas" work, I'm sure the one I'm using for t'interweb could recalculate everybody's gas bill in an afternoon and email out the new prices, a full-on data-centre could do it before the operator had taken their finger off the "update now" button.

StartledJesus

Energy watchdog Ofgem handed a £420000 contract to a consultancy firm (Baringa Partners) to advise on a price cap hike - despite its work for the Big Six suppliers

https://www.independent.co.uk/news/cost-living-price-energy-big-six-b2033028.html?utm_content=Echobox&utm_medium=Social&utm_campaign=Main&utm_source=Twitter#Echobox=1647772242

Also an extensive thread on Twitter 

Ultrasonic

If we're sticking with the price cap concept then there does need to be consideration given to what won't put the 'big 6' at risk of going bust. 

StartledJesus

Not with a blatant conflict of interest. And why is Ofgem employing outside consultants - because it’s incapable or unwilling to do the hard work itself? So what are we paying Ofgem for? Apart from allowing get rich quick merchants to abuse the system, then realising too late that that the licence system is laughable, and needs to be tightened up big time. 

QrizB

StartledJesus said:

Energy watchdog Ofgem handed a £420000 contract to a consultancy firm (Baringa Partners) to advise on a price cap hike - despite its work for the Big Six suppliers

This is a non-story.

Every medium-to-large-sized energy consultancy will have worked for the Big 5/6/7. That's how they've managed to become medium-to-large-sized.

It's a bit like looking for an independent garage chain that has never worked on a Ford or a Vauxhall.

Verdigris

If an organisation is flawed, an outside view is more likely to find the causes, and remedies, than any internal process.

Sea_Shell

StartledJesus said:

Not with a blatant conflict of interest. And why is Ofgem employing outside consultants - because it’s incapable or unwilling to do the hard work itself? So what are we paying Ofgem for? Apart from allowing get rich quick merchants to abuse the system, then realising too late that that the licence system is laughable, and needs to be tightened up big time. 

Naïvely, I would have hoped OFGEM would have the brains for this "in house" and not have to consult at great cost outwith.

Thrugelmir

StartledJesus said:

Not with a blatant conflict of interest. And why is Ofgem employing outside consultants - because it’s incapable or unwilling to do the hard work itself? So what are we paying Ofgem for? Apart from allowing get rich quick merchants to abuse the system, then realising too late that that the licence system is laughable, and needs to be tightened up big time. 

Because their experts in the field perhaps and have the resources to undertake the work required.  With social media these days there's copious amounts of ill informed debate. Which simply mislead and fail to educate. A little knowledge is a dangerous thing. 

bristolleedsfan

QrizB said:

StartledJesus said:

Energy watchdog Ofgem handed a £420000 contract to a consultancy firm (Baringa Partners) to advise on a price cap hike - despite its work for the Big Six suppliers

This is a non-story.

Every medium-to-large-sized energy consultancy will have worked for the Big 5/6/7. That's how they've managed to become medium-to-large-sized.

 "Ofgem awarded £420,000 contract to Baringa Partners, which described energy suppliers as ‘key clients’"

“specifically to assist in the determination whether any adjustment is required to the cap”