Analysis finds Treasury rules on new windfarms likely to stifle energy generation and keep bills high
New offshore windfarms will be strangled by government red tape, costing UK billpayers £1.5bn a year, an analysis has found.
The latest government auction for new offshore windfarms, due to be completed in September, could result in few projects making it through Treasury rules, according to the Energy and Climate Intelligence Unit (ECIU), a non-profit organisation.
Continue reading...Energy secretary says government wants to focus on cutting taxes once inflation falls
Grant Shapps has suggested it is unlikely the government will step in to protect households from rising energy bills this winter.
The energy secretary said in an interview with the Times that once inflation had fallen the government would “absolutely” need to cut taxes.
Continue reading...Fatih Birol says China’s economic recovery combined with harsh winter could pile pressure on gas supplies
The head of the International Energy Agency has said energy prices may spike again this winter, forcing government to subsidise bills – just days after state support for UK households fell away.
Fatih Birol said a rapid improvement in the Chinese economy, coupled with a harsh winter, could put pressure on gas supplies and push up bills for consumers.
Continue reading...Plans drawn up to pay for cost of dealing with sewage crisis and climate emergency
Water companies are reportedly pushing for bills in England to rise by up to 40% under plans being drawn up to pay for the cost of dealing with the sewage crisis and the climate emergency.
The increases are due to be announced next year and could drive annual bills up from an average of £450 to £680 in parts of the country by the end of the decade, according to a Times report citing consultation documents.
Continue reading...Report by cross-party MPs criticises previous ‘lack of urgency in addressing market failures’
MPs have urged the government to set out its plans to protect households from high energy bills this winter as they said about 1.7 million people, including some of the most vulnerable groups, had been left waiting too long to receive previous support.
The public accounts committee (PAC) said that although schemes were introduced quickly, the government “did not have the bandwidth” to make sure help reached all groups in a timely fashion.
Continue reading...Sarah Bentley lands £1.5m package despite saying she would shun bonus amid criticism of water companies
Thames Water has been accused of conducting a “flimsy PR stunt” as it prepares to report that its chief executive has landed nearly double her annual salary with a £1.5m pay package – after announcing that she would shun her bonus amid intense criticism of Britain’s water companies.
Sarah Bentley said last month that she and the firm’s finance chief, Alastair Cochran, would forgo their bonuses and any payments due under long-term incentive plans for the 2022-23 financial year.
Continue reading...Shares in owner Pennon Group fall as it says Ofwat has launched inquiry into South West Water
South West Water is being investigated by the industry regulator over whether it accurately reported leaks and figures showing how much water is used by its customers.
Pennon Group, which owns South West Water and Bristol Water Group, told its shareholders Ofwat had announced an investigation into the company’s operational performance during 2021 and 2022.
Continue reading...With cost of cleanup to be passed on to bill payers, analysis shows they will also pay £624 more by 2030 to fund investor payouts
Water companies will pay an estimated £14.7bn in dividends by the end of this decade, while making customers pay for new investment to stem the tide of sewage pollution in seas and rivers, analysis for the Observer has revealed.
Liberal Democrat MP Tim Farron denounced the billions going to shareholders as “absolutely scandalous” while families struggling with the cost of living would be facing increases in bills to pay for the sewage cleanup.
Continue reading...But campaigners say it will not give much relief to struggling households as government support ends
Household energy bills could fall to an average of £2,053 a year this summer as the regulator prepares to lower its cap on energy prices next week, according to analysts.
However, campaigners have warned that the lower cap on energy bills, to be announced on Thursday, is unlikely to provide much relief to households that struggled to pay their bills over the winter because the government’s support schemes have come to an end.
Continue reading...Suppliers in Great Britain have agreed code banning them from installations in homes of over-85s
The energy secretary, Grant Shapps, has urged Ofgem to turn words “into action” to ensure new industry rules designed to protect vulnerable people from being forced on to prepayment meters are properly enforced.
The Guardian revealed on Monday that all energy suppliers in Great Britain had signed up to a code of conduct banning them from putting the meters in the homes of people aged 85 and over as well as those with severe health conditions.
Continue reading...Low-income household will spend on average £200 more on bills than last year, Which? warns
Some of the UK’s least well-off households could be left more than £200 worse-off on their energy bills this year because of reduced government support, the consumer body Which? has warned.
Joining calls made by other campaigners, it said the government urgently needed to introduce a “social tariff” for gas and electricity to protect the most financially vulnerable.
Continue reading...Ofwat says new powers will be used if firms fail to reach performance and environmental goals
The UK water regulator is to use new powers to block companies from shareholder payouts if they fail to hit performance and environmental targets.
Ofwat, which in December heavily criticised some of the country’s biggest suppliers over the size of dividend payments relative to their financial performance, said the new rules would also mean water companies would “maintain a higher level of overall financial health”.
Continue reading...Campaigners unite with suppliers to call on ministers to give long-term help to struggling households
Ministers are under pressure to announce plans for a social tariff to help Britons struggling with their energy bills over the long term, after the government performed a U-turn on a planned cut to support for households.
On the morning of the chancellor Jeremy Hunt’s budget speech, the government confirmed the energy price guarantee would continue at its current rate, which limits a typical annual household bill to £2,500. It is being extended from April, when it was due to expire, for a further three months until the end of June.
Continue reading...Treasury says move will save four million households £45 a year on their energy bills
Prepayment meter customers will no longer be charged more to receive their energy under reforms to be announced in the budget.
The chancellor is to end the “prepayment premium” from July, saving more than four million households £45 a year on their energy bills, according to the Treasury.
Continue reading...One-off dispensation for weekend celebrations will allow venues to screen events without a TV licence
The BBC is to suspend the licence fee as part of a one-off dispensation for the king’s coronation weekend.
The move will allow venues to screen the live coronation ceremony coverage on 6 May and the coronation concert on 7 May without needing to buy a TV licence.
Continue reading...Demand for wood stoves is soaring in energy crisis despite research showing their harmful effects
Demand for wood-burning stoves, including in urban areas, has soared as households look for more affordable ways to stay warm during the energy crisis.
Campaigners have called for stricter legislation on their use because of their negative impact on air pollution and health, with wood burning in the UK gaining in popularity over the past decade.
Continue reading...Cost of living has made more than a third of adults reconsider cooking end of week meal, survey finds
More than a third of people in the UK have cut back on cooking Sunday roasts because of the soaring cost of energy bills, according to a survey.
A total of 36% of UK adults said the cost of living crisis had made them reconsider a homemade roast dinner at the end of the week. The figure was even higher among those aged 16 to 34, with nearly half (47%) saying they have avoided cookingroasts.
Continue reading...Jeremy Hunt urged to reconsider raising state-subsidised energy rate from April as market prices make delay affordable
Jeremy Hunt must act now to reverse plans to raise energy bills from April, MoneySavingExpert’s Martin Lewis has warned, saying the change cannot wait until the spring budget next month.
In a letter to the chancellor seen by the Guardian, Lewis warned more than 1.7m more households could be plunged into fuel poverty if he does not urgently commit to freezing energy prices.
Continue reading...Ofgem could look to take legal action if companies are not taking proper care of vulnerable households
Energy companies are to be investigated by the regulator Ofgem after the number of households struggling with their bills being forced on to prepayment meters has increased sharply.
Ofgem could consider taking legal action if it determines that the rise in the number of homes being forced on to prepayment meters is proven to show companies are not taking proper due care of vulnerable households.
Continue reading...Mild weather in Europe reduces gas demand but bills will remain higher than 2021 energy price cap
Annual energy bills are expected to fall to about £2,200 from July in a fillip for the government and households struggling with ballooning costs.
The energy consultancy Cornwall Insight has predicted that, excluding government subsidies, typical annual household energy bills will have fallen from £4,279 now to £3,208 from April, and then will ease to roughly £2,200 for the remainder of the year.
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