UK’s Ofgem raises price cap on energy bills by 10%
- 23-Aug-2024
UK energy regulator Ofgem on Friday raised its price cap on household energy bills by 10% from Oct. 1 to an annual level of 1,717 pounds ($2,250.64), a jump blamed on severe weather events and conflicts such as the war in Ukraine. “Ultimately the price rise we are announcing today is driven by our reliance […]
UK energy bills to fall
- 23-Feb-2024
Most UK household energy bills will fall from April after regulator Ofgem cut its domestic price cap by 12.3% to its lowest level in more than two years. The drop, prompted by lower wholesale energy prices, will provide some respite for households struggling to contend with a cost of living crisis while also helping to […]
UK to lift energy bills
- 15-Dec-2023
Ofgem, Britain’s energy regulator, is planning a one-off increase to its price cap on energy bills to reduce the risk of suppliers going bust amid almost 3 billion pounds ($3.8 billion) of customer energy debt, it said on Friday. Soaring wholesale energy costs following Russia’s invasion of Ukraine led to record high energy prices last […]
UK energy bills to fall after Ofgem lowers price cap
- 26-Aug-2023
Millions of British households will have cheaper energy bills from October after British energy markets regulator Ofgem cut its price cap again to reflect a further fall in wholesale power and gas prices. Ofgem on Friday lowered its price cap on household energy bills by about 7% from Oct. 1 to 1,923 pounds ($2,418.56) a […]
UK households should cut energy use: Ofgem
- 13-Oct-2022
UK households should reduce their gas and electricity use where possible this winter to help cut costs and reduce the risk of power cuts, energy regulator Ofgem said on Thursday. The advice comes after the country’s National Grid last week warned that Britain could face forced power cuts if it is unable to import enough […]
Britain at ‘significant risk’ of gas shortages
- 03-Oct-2022
Britain faces a “significant risk” of gas shortages this winter and a possible emergency due to the conflict in Ukraine and limited supplies in Europe, the energy regulator has said. Although Russia only meets about 4% of Britain’s gas needs, a disruption in supply to Europe has contributed to driving up British prices and makes […]