Those payments were set when the typical energy bill was anticipated to rise by £800 – a prediction Ofgem says is now too low. Influential industry analyst Cornwall Insight has predicted a rise of more than £1,200 a year in October, pushing the typical bill to £3,244 a year from October, then £3,363 a year from January.
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Jeremy Hunt: Less scope for tax cuts in Budget
admin, , Business, 0
Pressed over whether this would disappoint some Conservative MPs, who have been calling for big tax cuts ahead of...
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Liberty Steel boss asks government for £170m bailout
admin, , Business, 0
“We are still refining the details with my management team and our external advisors, but preliminary indications are that...
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Ukraine war: Russia to keep key gas pipeline to EU closed
admin, , Business, 0
“That really has huge ramifications for gas in Europe which is about four times more expensive than it was...
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Walgreens abandons Boots sale after market turmoil
admin, , Business, 0
Rosalind Brewer, chief executive of Walgreens Boots Alliance, said: “We have now completed a thorough review of Boots and...
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EU opens competition investigation into Cadbury owner
admin, , Business, 0
“We are opening a formal investigation to see whether Mondelez, a key producer of these products, might have restricted...
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Cost of living: Energy bills forecast to hit £3,363 a year
admin, , Business, 0
The energy price cap, which applies in England, Wales and Scotland, sets a limit on the amount that can...
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House prices fall at fastest rate in 12 years, says Halifax
admin, , Business, 0
“With markets now forecasting a peak in Bank Rate of over 6%, the likelihood is that mortgage rates will...
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US-China chip war: Nvidia hit as China cut off from more advanced chips
admin, , Business, 0
Although the curbs also affect other chip makers, analysts believe Nvidia will be hit the hardest because China accounts...
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