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The Latest Breaking News from Ofgem

Energy bills to soar 13% due to Trump's war in Iran, says Ofgem

‘This increase is as a result of higher wholesale gas prices, caused by the ongoing conflict in the Middle East’ - Ofgem

Evening Standard

Typical energy bill set to soar by £221 a year from July as new price cap announced

The current price cap for a typical household paying by direct debit for gas and electricity is £1,641

The Independent UK

Households set to learn of energy bills hike from July amid Iran war impact

Ofgem will announce its latest energy price cap on Wednesday.

Evening Standard

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UK Household Energy Bills May Surge Again as US Strikes on Iran Fuel Oil Supply Fears

UK households may face increased energy bills this summer due to Middle East tensions affecting global markets. Ofgem's upcoming price cap announcement could see annual costs rise significantly.

International Business Times UK

Ofgem should tell it straight: electricity prices are set to stay high for years

Regulator could do us all a favour with clear multi-year forecasts and breakdowns of electricity pricing

The Guardian - UK

Households set to learn of energy bills hike from July amid Iran war impact

Ofgem will on Wednesday reveal the level of the annual energy price cap for July to September as predictions suggests a 13% rise is on the way.

Evening Standard

UK households set to face £200 energy bill rise thanks to Iran war

Ofgem will on Wednesday reveal the level of the annual energy price cap for July to September

The Independent UK

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Consumer confidence rises slightly following signs of Iran ‘de-escalation’

Confidence in the economy over the next three months remains firmly in negative territory at minus 48, but up from minus 53 last month.

Evening Standard

Inside Reeves’ cost of living plan which could see UK consumers save more than £150 million a year

Reeves will give details of policies to tackle the cost-of-living squeeze triggered by the Iran war

The Independent UK

Cheaper food and free bus rides for children in Reeves’ cost-of-living plan

Rachel Reeves said: ‘My number one priority is protecting households from rising costs.’

Evening Standard

Why has inflation gone down and where will it go from here?

Economists said April’s inflation fall will only be a brief respite before the Middle East conflict sends prices spiking again.

Evening Standard

UK inflation rate set to fall as lower household energy bills offset fuel surge

Most economists think the rate of Consumer Price Index (CPI) inflation slowed to 3% in April, from 3.3% in March.

Evening Standard

Cost of living crisis looms as Iran energy shock threatens UK inflation rebound

Experts caution that future turbulence is on the way despite UK inflation easing last month

The Independent UK

Energy bills forecast to rise by £209 in July amid fears over winter cost crunch

Cornwall Insight said its prediction for Ofgem’s cap from July to September now stands at £1,850 for a typical dual fuel household, a 13% increase.

Evening Standard

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The Independent UK

Energy bills set to rise by £209 from July as experts issue dire winter warning

Energy cap prediction now £1,850 for a typical dual fuel household, a 13% increase

Evening Standard

UK inflation rate set to fall as lower household energy bills offset fuel surge

Some economists think the rate of Consumer Prices Index inflation slowed to 3% in April, from 3.3% in March.

The Guardian - UK

British Gas faces record £112m settlement over prepayment meter scandal

Redress to customers for force-fitting devices in homes includes £20m penalty and £70m of debt write-offs

Evening Standard

British Gas agrees £20m payout and compensation for prepayment meter failures

The energy supplier will compensate customers who were affected in 2018-21 and write off up to £70 million of energy debt for vulnerable customers.

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The Independent UK

British Gas agrees £70m energy debt payoff and compensation over prepayment meter scandal

The energy supplier has agreed to compensate customers who were affected between 2018 and 2021

The Independent UK

Labour MPs massively out of step with public on cost of living, survey reveals

Exclusive: Cost of living is the nation’s top concern, government warned

The Independent UK

Households fork out £3,400 more for bills in five years due to war impact on energy prices

Ofgem will announce on 27 May the price cap for the three months covering 1 July to 30 September

The Independent UK

Energy bosses face bonus ban under tough new regulator powers

IN FULL

Evening Standard

Regulator to get power to ban energy bosses’ bonuses under reforms

Ofgem is to be ‘transformed’ to strengthen consumer protection under the first major update to its scope since it was founded in 2000.

The Independent UK

Take excess profits from energy giants to give £183 back to customers, think tank says

‘Billions’ taken by grid giants, ‘that cannot be right’ says IPPR

The Independent UK

Energy firm bosses could lose bonuses if they ‘break the rules’ in major Ofgem reforms

The energy regulator is set to undergo a ‘transformation’ to enable it to enforce quicker compensation for households let down by their suppliers

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