Gas and electricity news and energy saving tips
As the cost of living continues to rise, British households are grappling with the challenge of managing energy bills. The scarcity and high cost of fixed-rate energy deals have left consumers with limited options. In this article, we explore the current state of fixed-rate energy in the UK and its impact on bill payers.
After enduring two gloomy years of soaring energy costs, bill payers will be pleased to read that consultancy Cornwall Insight has predicted a substantial 16% drop in domestic energy prices this April. The anticipated reduction should relieve consumers grappling with high bills triggered by global events and disruptions.
The UK's ‘commitment’ to combatting climate change has faced criticism with the recent introduction of the Offshore Petroleum Licensing Bill. Former cabinet minister Sir Alok Sharma, who was heavily involved in the COP26 climate summit, has condemned the bill.
Wind power is, without a doubt, a promising solution for the UK's need for sustainable and renewable energy sources. However, a recent report by Carbon Tracker revealed that wasted wind power will add a significant burden to the average UK household's electricity bills. In 2023 alone, the estimated cost was £40 per household, with projections indicating a potential increase to £150 by 2026.
Consumers should stock up on torches, battery-powered radios and candles to prepare for power cuts or cyber attacks, the Deputy Prime Minister has said. Deputy PM Oliver Dowden recently announced the establishment of a national ‘resilience academy’, urging Britons to be prepared for blackouts.
The UK's ambitious plans to almost quadruple its offshore wind capacity from 13 gigawatts to 50 by 2030, powering every home in the country, have hit a roadblock. Recently, the Government increased the price paid to energy firms for offshore wind-generated electricity by over 50%, a move aimed at enticing foreign investment.
The RAC has called on major fuel retailers in the UK to slash prices by at least 5p per litre, claiming that consumers have yet to benefit from lower wholesale costs. Despite a Government-mandated duty cut last year, drivers are yet to see any signs of relief at the pump.