Utility Week

4 | 14TH - 20TH DECEMBER 2018 | UTILITY WEEK Seven days... STORY BY NUMBERS One Select becomes eighth energy supplier to go bust S mall energy supplier One Select has ceased trading, Ofgem announced on 10 December. The Reading-based sup- plier, which has around 36,000 domestic customers, recently came bottom of Citizens Advice's star rating list for customer service. The industry regulator said it would choose a new supplier to take on One Select's customers. Philippa Pickford, Ofgem's interim director for future retail markets, said customers should sit tight and wait for an alterna- tive supplier to be appointed. "We have seen a number of supplier failures this year and our safety net procedures are working as they should to protect customers," she said. In response to the news, the Energy Ombudsman said it had been aware of "customer service issues" at One Select for some time and had attempted to work with the company to try to improve its complaints-handling process. David Pilling, head of policy at the Energy Ombudsman, said: "As we have done following the recent collapse of other sup- pliers such as Iresa and Extra Energy, we are keen to work with whoever is appointed to take on One Select's customers in order to ensure a smooth transition. "If you're a consumer who has a complaint about One Select open with us, please be advised that we will be in touch in due course with information on next steps." In October, the Dutch sister company of One Select had its energy licence revoked by the Netherlands Authority for Consumers and Markets. The closure of One Select makes it the eighth company to cease trading so far this year. It joins domestic suppliers Iresa, Spark, Extra, Usio, Future Energy, Gen4U and Snowdrop. Former energy secretary Ed Davey, who served under the coalition, said the failure of One Select emphasised the "folly" of the government's policy of implementing a price cap, which had been particularly damaging for small suppliers as costs rise. "People will not switch if they think their new supplier will go under," he said. AJ Brexit vote pushed up energy bills The Brexit ref- erendum added £2 billion to energy bills over the fol- lowing year, new research from Imperial College London has found. 15% Amount the pound fell against dollar and euro in the year after the vote, leading to an 18 per cent increase in wholesale electri- city prices. 6% The depreciation of sterling was almost entirely to blame for a 6 per cent rise in gas and electricity prices, according to the analysis, commis- sioned by Ofgem. £75 Amount a typical dual-fuel energy bill rose by. £61 The potential cost of a hard Brexit on energy bills to March 2020. "The NuGen closure has left a gap… We are confident we can close that gap by bringing Bradwell into operation much sooner" Robert Davies, chief operating officer of the China General Nuclear Power Group's UK arm, says the Suffolk plant could begin commercial operations in 2030. ENERGY Dermot Nolan to remain Ofgem chief until 2020 Dermot Nolan has announced his intention to stay in his post as chief executive of Ofgem until the end of February 2020. Nolan, who took up the role in March 2014, joined the regulator from the Commission for Energy Regulation in Ireland, where he had been a commissioner since 2008 and its chair since May 2011. Ofgem's new chairman, Martin Cave, said: "I am delighted that Dermot has agreed to stay on longer… to continue to deliver our work to protect consumers' interests in the energy market." Nolan has overseen a pivotal time during his tenure as chief, with notable events including the incom- ing energy price cap, which was agreed earlier this year. Speaking on the day the cap was confirmed at £1,137, Nolan said: "It will ensure that whether energy costs rise or fall suppliers are not feathering their nest and changes in energy prices will reflect the underlying costs to heat and light our homes." ELECTRICITY National Grid opens 1GW interconnector National Grid has inaugurated the UK's first new interconnector in more than five years following the completion of construction work on the £600 million Nemo Link project. The 1GW subsea cable stretches for 130km from Bruge's Herders- brug industry zone on the Belgian coast to Richborough energy park in Kent. It is currently undergoing commissioning and is expected to become operational in early 2019. Nemo Link has been developed by a joint venture between National Grid and the Belgian transmission system operator Elia. National Grid chief executive John Pettigrew said: "Nemo Link will bring great benefits to consum- ers in the UK and Belgium by offering both countries access to a broader energy mix and providing opportunities to expand into other electricity markets."

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