British energy regulator Ofgem on Monday lowered its price cap on household energy bills from April, but this will offer little relief to consumers as energy costs continue to rise.
The government guarantee is a temporary measure to protect consumers from increases in wholesale gas prices.
Energy bills will still be higher or lower depending on how much energy is used. The discount is applied automatically by the supplier. If wholesale prices keep falling, Ofgem's price cap could fall below the energy price guarantee in July, resulting in lower energy bills. Consultancy Cornwall Insights forecasts that the price cap could be around 2,112 pounds in the third quarter and 2,118 pounds in the fourth quarter.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK energy bills set to rise despite lower price capBritish energy regulator Ofgem on Monday lowered its price cap on household energy bills from April, but it will offer little relief to consumers as costs continue to rise.
Read more »
Explainer: Europe gets ready to revamp its electricity marketEuropean Union energy ministers meet on Monday to debate upcoming power market reforms. Brussels is set to propose the revamp next month, but already countries are split over how to 'fix' the energy system - or whether it needs fixing at all.
Read more »
Explainer: Biden's EV highway takes shapeArmed with billions of dollars, the Biden administration is embarking on the biggest transformation of the U.S. consumer driving landscape in generations, hoping to blanket the nation's highways with electric vehicle chargers.
Read more »
Revolutionizing the British Diet: Beans in ToastScientists are striving to transform British diets by incorporating more domestically grown beans into our daily bread. University of Reading researchers and chefs hope to encourage British consumers and food producers to adopt bread made with faba beans (also known as broad beans), which they beli
Read more »
Liaison Composer On Scoring Apple TV’s First British-French SeriesWe spoke to award-winning Austrian-born composer walter_mair about crafting the Liaison score and diving into the thrills of the AppleTVPlus series:
Read more »
‘Black Ops’: Creators Of BBC Comedy-Thriller Say Black British Culture Is “Reaching A Sweet Spot”EXCLUSIVE: Black British culture is reaching a “sweet spot” and creatives no longer have to move to the U.S. to achieve stardom, according to the creators of BBC comedy-thriller Black O…
Read more »