In 2022, the International Monetary Fund (IMF) estimated that subsidies amounted to $270 billion in China, $129 billion in Saudi Arabia, $43 billion in Germany, $19 billion in the UK, $18 billion in France, and $3 billion in the US. Although prices have decreased from last year’s peak, they remain higher than pre-war levels, exerting …
Jonathan Brearley, the CEO of Ofgem, has expressed concern about the challenges people are facing in terms of the rising cost of living, and he cannot provide any assurance that the situation will improve this winter. Dr. Craig Lowrey, a consultant at Cornwall Insight, an energy analysis firm, argues that the slight decrease in the …
Baroness Ros Altmann, a former pensions minister, criticizes the unfairness of standing charges and their impact on the poorest and single households. She argues that energy suppliers have been allowed by the regulator Ofgem to increase standing charges to cover the costs of failed energy suppliers, which she deems even more unjust. Regardless of how …
If you’re curious about how your credit balance changes over time, Octopus Energy has developed a “balance forecaster.” This tool provides insights for customers, helping them determine whether their monthly energy payments are too high or too low. By starting with a £150 monthly payment, a typical household will have a balance of nearly £500 …
Energy providers are facing mounting pressure to compensate families who have been forced to pay their energy bills through prepayment meters. In response to recent revelations that British Gas had installed these devices in vulnerable customers’ homes, all of Britain’s energy providers have now decided to halt the controversial practice. Prepayment meters, which charge higher …
A significant number of energy customers were pleasantly surprised to find a 99.9% discount on their energy bills. However, this was not a deliberate promotional offer but rather a glitch at the supplier Octopus. Due to a data feed error from a third party, thousands of customers with old imperial gas meters were billed just …
Households are set to face an increase of £500 per year in energy costs starting from April, despite a decrease in gas prices and the arrival of warmer weather. A respected analyst firm predicts that the price cap on energy bills, imposed by industry regulator Ofgem, will reduce by approximately £1,000 next week. Typically, a …
In the midst of an energy crisis driving up household energy bills, heat pumps have been hailed as the solution to wean Britain’s homes off gas. However, it has come to light that early adopters of heat pumps will face significant costs for maintenance, exceeding those of traditional gas boilers. The UK Government is aiming …
According to analysts at Investec, wholesale energy prices are expected to drop below £2,000 from July, eliminating the need for state support. This development signifies a positive shift in the energy market. The concept of Daylight Saving Time (DST) was initially introduced in 1907 as a wartime measure by Willem Willet. It aimed to reduce …
Around four million people in the United Kingdom utilize pre-payment meters, a method where they pay for energy in advance instead of receiving bills based on their direct debit account. However, these meters have faced controversies, especially due to the higher charges imposed on prepayment customers in the past. Reports of energy suppliers forcefully installing …