Latest News & Views

Smaller Energy Suppliers Struggle For Survival
in Blog
Small energy companies risk going out of business which will see thousands of business and domestic customers be forced to move to the supplier appointed by Ofgem. The energy industry is going through a period of consolidation following the significant rise in the number of energy suppliers, from 12 to 70, since 2010. In total, 14 suppliers have crashed out of the market since the start of 2018. When a supplier ceases to trade, Ofgem appoints a supplier to...

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Consultation: Developing a Market for Energy Efficiency
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The Government is seeking views on market barriers to energy efficiency in the UK. The Department for Business, Energy and Industrial strategy (BEIS) is looking at how it can create new markets for energy efficiency, develop the wider energy market to contribute to flexibility, deliver a robust network infrastructure and provide reliable alternatives to distributed generation. The conclusion of the Electricity Demand Reduction (EDR) pilot, including publication of the final evaluation report, and the recent changes in electricity systems and...

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Wide-Reaching Climate Change Action Needed to Prevent 7% GDP Loss by 2100
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A new study produced by researchers from the University of Cambridge and published by the National Bureau of Economic Research predicts that average global temperatures will rise by more than 4°C by 2100 based on current trajectories. It claims that all nations will be impacted whether rich or poor, hot or cold. The study used data from 174 countries dating back to 1960 to reach its findings. Adopting a business-as-usual approach to climate change mitigation and carbon emissions will also...

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New PM’s Cabinet reshuffle includes COP26 President
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Prime Minister, Boris Johnson has undertaken a huge overhaul of cabinet ministers; officially the biggest clear out of Cabinet without a change of party in power. Boris Johnson oversaw 17 ministers being sacked or resigning from their posts. Both the BEIS Secretary and the Energy Minister have left as part of the new-look Government, which also includes a significant reshuffle at Defra. Former Environment Secretary Andrea Leadsom has replaced Greg Clark as Secretary of State for Business, Energy and Industrial...

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VAT Changes to the Reduced Rate for Turbines
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The Government has introduced a measure to remove the reduction in the 5% VAT rate for the installation of wind turbines and water turbines. Businesses that provide and install energy-saving materials (ESMs) and customers who have the ESMs installed will be affected. The measure brings consistency with the requirements of existing legislation governing the application of VAT in the EU. The UK is required to follow the judgement of the CJEU (Case C-161/14), which narrows the scope of the...

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UK Green Finance Strategy Supports 2050 Zero Emissions Goal
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The Government has revealed its landmark Green Finance Strategy, outlining plans to increase investment in sustainable projects and infrastructure. how the finance sector and better climate disclosure from corporates can drive progress towards wider action on climate change and the push towards net-zero emissions. The Economic Secretary to the Treasury and City Minister, John Glen, made the announcement at the third Green Finance Summit in London, stating that financial services will have a bigger role to play than any...

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UK Set to Host COP 26 in 2020 in Partnership with Italy
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The UK has formally announced its intention to host next year's international COP climate conference as part of a partnership with Italy that will see the latter host a pre-COP event. As part of the proposal, the countries would assume the Presidency of the 26th Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC) in a unique partnership. The UK will host the COP conference and Italy will host the pre-COP event, which includes a...

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New RICS Commercial Property Service Charge Rules From April 2019
in Blog
New requirements launched by RICS last year set a marker for the standard of management required in commercial property and provide mandatory obligations that its members and any RICS regulated firms engaged in this area must comply with. The new rules came into effect for service charge years starting on or after 1st April 2019 and have been put in place to ensure service charges to commercial tenants are transparent, upfront and fair, and that any costs incurred are...

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UK Leads the Way With Net-Zero Carbon Target for 2050
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The Government has drafted a statutory instrument to amend the Climate Change Act of 2008 to account for a net-zero target by 2050 – a first among the G7 nations. The Prime Minister’s decision to implement the recommendations of the Committee on Climate Change (CCC), creating a legally binding net-zero carbon target for 2050, has been welcomed across the UK. The Government has confirmed that it will follow the CCC’s framework using between 1-2% of GDP in 2050 which...

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UK Will Almost Certainly Miss it’s 2020 Smart Meter Target
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The UK smart meter statistics for the first quarter of 2019 have shown a drop in the rate of installations causing questions to be asked on whether the 2020 deadline will be extended according to the Department of Business, Energy and Industrial Strategy. The period from January to March 2019 saw just over a million meters installed by large energy suppliers, made up of 573,700 electricity meters, and 457,900 gas meters. Disappointingly the figures represent a 6.7% decrease from...

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