Current± takes a look at the biggest stories and talking points from the Christmas period, with power prices continuing to dominate the discussion.
The price cap could jump 46% for summer 2022, hitting approximately £1,865 as wholesale power prices remain high.
From January, energy suppliers will need to undergo financial stress testing to prove their resilience in light of the cascade of supplier collapses in recent months.
The top ten most expensive days in the Balancing Mechanism (BM) ever have occurred in the last three months, as costs soar to £967 million.
Ofgem is to consult on the energy price cap, as suppliers continue to falter amidst record high power prices.
Given the rising wholesale energy prices, Ofgem is to consult on the price cap methodology.
Pure Planet and Colorado Energy have become the latest suppliers to shutter in the UK market.
Ofgem needs to go further in its efforts to create a resilient energy market, CEO Jonathan Brearley stated this week.
Cornwall Insight warns energy supply market 'on edge' for further consolidation, predicts £1,660 price cap
New modelling from Cornwall Insight has forecast that the Summer 2022 default tariff price cap could now reach around £1,660.