Gas and electricity news and energy saving tips
In a positive turn of events, energy regulator Ofgem has announced a significant drop in the typical annual energy bill for British households. From April, a new price cap will result in a £238 per year reduction, bringing the average down to £1,690. This change marks the lowest energy prices for over two years, and experts expect it to offer some 29 million households across England, Wales and Scotland a degree of financial relief.
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.