Energy Bills Go up Today - Find Out How Much More You'll Pay This Month
Ofgem says wholesale gas costs and Middle East conflict are driving the increase, while National Energy Action warns millions face added debt pressure.
- On Wednesday, regulator Ofgem raised the energy price cap by 13%, pushing typical annual bills for direct debit households in England, Scotland, and Wales to £1,862, an increase of £221.
- Ofgem attributed the hike to elevated wholesale gas prices driven by the conflict in the Middle East, after oil prices spiked following US attacks on Iran in March.
- The increase amounts to an additional £18 per month for the average household, while prepayment customers face a comparable rise with typical bills increasing to £1,812.
- Trades Union Congress general secretary Paul Nowak criticized the rise, proposing a social tariff to support 8.7 million vulnerable households and cut bills by up to £559 for the most vulnerable.
- Energy consultancy Cornwall Insight forecasts the cap will fall by 0.5% in October, while the government maintains the Warm Home Discount scheme to assist struggling households.
18 Articles
18 Articles
Big Oil and Gas Rake in Billions from the Iran War—Expropriate Them! - Revolutionary Communists of America
Big Oil and Gas executives have been mercilessly cashing in on the Iran War and closure of the Strait of Hormuz. The resulting severe shock to the world’s energy market—largely dependent on fossil fuels—has delivered a historic level of profit to these war profiteers, as oil prices have shot up. In the first month of the war alone, the top 100 oil and gas companies raked in an additional $30 million per hour, on top of their usual profits. For c…
UK Energy Bills Rise 13% From Today as Experts Urge a Mid-Year Money Check
UK households on standard energy tariffs started paying 13 percent more from Wednesday, when a new price cap set by the regulator Ofgem took effect. The rise lands as financial advisers urge households to run a mid-year check on their finances. For a typical household paying by direct debit, the annual cap rose from £1,641 ($2,176) to £1,862 ($2,469), Ofgem said, an increase of £221 ($293) a year, or about £18 ($24) a month. Electricity prices r…
As price cap soars, Unions call for social tariff
The TUC is calling for an energy social tariff that it says could cut bills for 18.7 million households by up to £559 a year. The union body said the plan is needed as average household energy bills rise from today by £221 a year under the latest Price Cap. It argues bills remain far higher than before the energy crisis, with new analysis of ONS data showing average annual energy payments are £437 higher than in May 2021. The TUC claims househol…
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