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Price Cap rising to £1,717 in Oct-24, savings available to those who fix now
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Getting operationally ready for change in a dynamic energy market
Avoiding expensive delays is key in any change programme, and the risks are getting greater with smart targets and MHHS on the horizon. Often, suppliers have the right idea on what to change, but fall short in realising benefits due to how the change is delivered. Here, we show why operational readiness is key to nailing this delivery, with five focus areas to sharpen your approach.
Quantifying the investment needed for cheaper bills under GB Energy
GB Energy's ambition to reduce bills and make Britain a 'clean energy superpower' is welcome news. But substantial private investment will be needed, if the potential savings pledged by Labour are to be realised. Using a very high-level business case, we've quantified the scale of investment that may be required.
Capitalising on new M&A opportunities with renewable energy
With Labour leading the drive towards clean energy, we're expecting to see an uplift in M&A activity related to renewables throughout the rest of 2024. Profits, economies of scale, and enhanced customer engagement are on offer to those who capitalise on the opportunities.
Differentiating the customer journey in energy’s era of ‘similar servicing’
Market share gain and great customer service are becoming increasingly linked in Energy. But as suppliers invest in new operating systems, with many opting for the same or similar providers, how will suppliers differentiate their servicing offering to create a competitive advantage?
MHHS could pose a major commercial risk for suppliers
Market-wide Half Hourly Settlement (MHHS) has the potential to pose a major commercial risk for suppliers, with a risk of overpaying for energy purchases by up to 8%.
Price Cap to increase 10% in Oct-24, but annual bills stay flat
Ofgem's headline Price Cap is set to increase 10% this Winter (~£140 rise from October-24), but demand-weighted annual bills are expected to remain flat. Based on our projections, customers' annual bills should be ~£1,700 from 01 October, staying unchanged since April-24
Optimising your DCA strategy to mitigate rising debt
Domestic debt keeps rising, and engaging customers through tailored journeys is crucial to take control of the situation. Refining your approach to DCAs can drive these improvements, supporting your internal efforts to better manage customer debt. We've outlined three steps here to help maximise results from your DCA relationships.
Average solar payback takes 14 years - optimising efficiency is key
Recovering install costs for domestic solar panels currently takes ~14 years, and customers can optimise efficiency to access the full potential of these systems, as covered here.
Domestic energy suppliers faced £1.9bn cash coverage deficit
By combining Ofgem's new data on customer credit with their recent market debt figures, our analysis shows domestic suppliers faced a £1.9bn shortfall to the target cash reserve in March 2024 - an increase of £1.1bn in the past 12 months.
Engaging customers is critical as energy retail diversifies
Energy retail's diversification continues to gather pace, with margins strained, and uncertainty looming around Ofgem's price cap review. Service-oriented models offer a route to sustained growth and profitability, but it's not without risk, as question marks remain over customer uptake. We've assessed the opportunity here.
Heat Pump support increasing, with budget for 3.3k installs pm
Support for Heat Pumps is set to increase next year, with budget for up to 3.3k installations per month - doubling the current funded install rate.
Addressing the carbon reduction challenge in data utilisation
The technology and software sectors are a key driver of economic growth, attracting private equity and venture capital investment thanks to their scalability and high margins. Global tech spend is booming, forecasted to reach £3.6 trillion in 2024, so what’s the catch?
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