SoLR

September 20, 2024

Ofgem policy update to reduce cost to consumer of supplier failures

Energy regulator Ofgem has published an update on the Supplier of Last Resort (SoLR) policy consultation to help protect consumers from fronting the cost of failed suppliers.

Octopus Energy secured Bulb's services in December 2022. Image: Bulb.

December 21, 2022

Octopus acquisition of Bulb completed bringing end to ‘huge financial exposures for taxpayers’

Octopus Energy has now completed the acquisition of Bulb Energy, as of 23:58 on 20 December 2022.

December 1, 2022

Bulb to Octopus Energy transfer approved by High Court

The High Court has approved the transfer of failed energy supplier Bulb to Octopus Energy following a judicial review earlier this week.

Origin ‘upgrades’ FY2023 energy market outlook due to strong contribution from Octopus Energy. Image: Octopus Energy.

July 12, 2022

Octopus Energy to take on UK Energy Incubator Hub’s 3,000 customers

Octopus Energy has been appointed as Supplier of Last Resort (SoLR) for supplier UK Energy Incubator Hub and will take on its 3,000 customers.

The Vulnerability Commitment’s signatories include Octopus Energy

June 21, 2022

Ofgem moves to stop customer balances being used as ‘interest free company credit cards’

Ofgem has announced new plans to improve the financial health of energy suppliers in an effort to avoid company failures on the scale seen over the last year.

April 13, 2022

Smart meter rollout picks up pace despite increased obligations on SoLR energy suppliers

Following the usual slow period over the festive season and “extraordinary disruption” from the Omicron variant of COVID-19, the installation of smart meters in Great Britain has picked back up.

Centrica's profit hit £3.308 billion due to gas and nuclear. Image: Centrica.

February 25, 2022

Centrica’s profit soars 112% amid high oil and gas prices

Centrica’s adjusted profit has soared by 112%, jumping from £447 million to £948 million following the surge in oil and gas prices.

February 22, 2022

Yü Energy Retail takes on Whoop Energy and Xcel Power’s customers

Yü Energy Retail Limited has been appointed to take on the customers of collapsed suppliers Whoop Energy and Xcel Power Limited.

Business and the energy crisis: have the measures gone far enough? Image: Pixabay NC.

February 21, 2022

Whoop Energy and Xcel Power shutter

Two more energy suppliers have collapsed, with Whoop Energy and Xcel Power Ltd leaving 536 customers to be absorbed by the Supplier of Last Resort (SoLR) mechanism.