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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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Cut Fuel Duty Like Germany & Inflation Falls

Cut Fuel Duty Like Germany & Inflation Falls: The foul stench of pump price racketeering continues, following BP’s and Shell’s latest excessive & opportune profiteering “Rishi, Liz: MPs and the Nation want real action on reducing fuel supply chain profiteering to help cut the cost of living and reduce inflationary pressure. Petrol and diesel are…
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Energy prices in Australia to remain high until 2026

Energy prices in Australia to remain high until 2026: Research from Cornwall Insight Australia’s Benchmark Power Curve (BPC)1, which looks at power prices up until 2042, has forecast that all states in the National Electricity Market (NEM) will have an annual median price of around $200/MWh, up until FY2025. These high prices are expected to…
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Race in onshore energy networks

Race in onshore energy networks: UK’s onshore electricity network market will soon undergo a serious overhaul. The government has revealed details of the meeting on the introduction of a framework that would give access to competition in onshore electricity networks. Currently, electricity network companies are liable for building, owning and operating electricity network infrastructure, ensuring it’s ready to meet the energy…
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€110m Austrian agri-producer scheme approved

€110m Austrian agri-producer scheme approved: The European Commission has passed a €110 million (£92,7m) Austrian scheme to help essential agricultural producers impacted particularly hard by soaring energy prices considering Russia’s invasion of Ukraine. It has been approved for the scheme under the state aid Temporary Crisis Framework, understanding that the EU economy is going through…
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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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