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‘61% of Brits to switch suppliers after high bills’
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The timeframe for the proposed auction will now be open until the end of August “as a contingency measure”
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It follows the EU Court’s landmark ruling which led to the suspension of the scheme last November
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The Big Six energy supplier has also lost 160,000 customers
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The European Commission has not yet opened an in-depth investigation into the UK’s power auction scheme
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BEIS reiterated it is ‘working closely’ with the European Commission on the necessary steps for the scheme to be investigated ‘as quickly as possible’
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Watch the video to find out more
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The business and energy secretary believes cheap power ‘is now green power’
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The government said the decision ‘poses no issues for our security of supply’ and is working to reinstate it ‘as soon as possible’
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The European Court of Justice has suspended the scheme which means the UK cannot hold any auctions either until it receives clearance
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It is believed to be the largest contracted energy storage portfolio transaction
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The scheme provides payments to generators for making capacity available or reducing demand when required to do so
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Sustainability is key to the future of Earth.
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