Business, Retail industry, Energy bills, Household bills Business | The Guardian
Rolling coverage of the latest economic and financial news, as retail sales slumped by more than expected in April amid wet weatherNewsflash: British households should benefit from lower energy costs this summer.The energy price cap in Great Britain will fall by 7% from July to September, thanks to a fall in wholesale gas prices, enery regulator Ofgem has announced.It still leaves bills far above the £1,154 seen in the summer of 2021, before the energy crisis. Wholesale gas prices began to rise sharply in 2021 and escalated after Russia’s full-scale invasion of Ukraine in early 2022.Bill have since eased from their peak in 2023 – when the cap reached £4,279, but the government subsidised bills to keep them at £2,500 – but remain above pre-crisis levels, meaning millions of households are expected to remain in fuel poverty. Continue reading…
Rolling coverage of the latest economic and financial news, as retail sales slumped by more than expected in April amid wet weather
Newsflash: British households should benefit from lower energy costs this summer.
The energy price cap in Great Britain will fall by 7% from July to September, thanks to a fall in wholesale gas prices, enery regulator Ofgem has announced.
It still leaves bills far above the £1,154 seen in the summer of 2021, before the energy crisis. Wholesale gas prices began to rise sharply in 2021 and escalated after Russia’s full-scale invasion of Ukraine in early 2022.
Bill have since eased from their peak in 2023 – when the cap reached £4,279, but the government subsidised bills to keep them at £2,500 – but remain above pre-crisis levels, meaning millions of households are expected to remain in fuel poverty.
