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Price cap forecasts for January rise to over £4,200

Price cap forecasts for January rise to over £4,200: New forecasts for the January Default Tariff Cap (price cap) from Cornwall Insight have risen by over £6501, meaning a typical household is now predicted to pay the equivalent of £4,266 a year for the three months to March 2023. Forecasts for the October cap have…
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Bad debt recovery decision deferred

Bad debt recovery decision deferred Ofgem has disclosed that it will put off its appointment on the introduction of an allowance in the price cap to recover bad debt. The consultation would aim to make sure the cap reveals the efficient prices incurred by suppliers because of bad debt and other debt related costs as…
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Estimations for £4K mark on winter energy bills

Estimations for £4K mark on winter energy bills Britons may soon discover themselves paying more than £4K per year for the energy they consume. New analysis from Investec Bank Plc implies the cap on default energy tariff may increase to £4,210 a year in January 2023. It is worth pointing out that the prediction is…
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‘Don’t pay’ campaign neglected by Ofgem

‘Don’t pay’ campaign neglected by Ofgem Ofgem Chief Executive is going to discourage people from joining campaigns for an energy cost strike. Tens of thousands have previously put their names to a agreement to cancel their direct debit payments for energy bills from 1st October. Following the statement of the quarterly price cap review methodology,…
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Gas & electicity for the next 8 months bought by council

Gas & electicity for the next 8 months bought by council Slough Borough Council in the South East of England will buy 100% of its estimated energy consumtion until March 2023 in advance. Previously this year, the local authority could see its energy bills soar by an additional £3m as a result of the rising…
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New energy price cap to be about £3.5k

New energy price cap to be about £3.5k Average yearly energy bills could increase to £3.5k, according to the Bank of England (BoE). At a press conference where officials reported the largest interest rate hike in 27 years while forecasting a prolonged period of recession for the UK, Governor Andrew Bailey stated: “We think, on…
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Businesses could see October energy bills soar x5

Businesses could see October energy bills soar x5: Businesses in the UK will see their energy bills rocket when new contracts are negotiated in October1 according to data from Cornwall Insight. Some will face bills five times their current price, as concerns over Russian gas supply, tight electricity markets in Europe, and a global disruption…
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31% increace in gas within last week of July

31% increace in gas within last week of July UK gas costs that take a toll on peoples homes and businesses similar continue to rise to record highs. The most recent Office for National Stats report on economic activity & social change implies the seven-day rolling average gas price increased by 31% in the week…
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Can energy usage be compared to save money?

Can energy usage be compared to save money? Britons might shortly get letters to be notified of the amount energy is consumed by their neighbours in a bid to drive them to reduce their own and save on money. Elizabeth Costa, Managing Director of the Behavioural Insights Team has said international studies have shown that…
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Energy bills are set to soar by October

Energy bills are set to soar by October As more and more companies have difficulty operating through rising energy costs and the soaring prices of living, reports have cautioned business energy bills are set to rocket in October. Consultants at independent data analyst company Cornwall Insight have stated as many businesses are negotiating their contracts…
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