(PA file)
Five million households will be forced to spend at least a tenth of their budget on energy bills after the biggest price increase since the archives went into effect on Friday. The bills will increase by an average of 3 693 per year in cost to those with pre-selected invoices after the Ofgem price cap was lifted by 54 per cent. Rising prices will double the number of households in “fuel stress” – a condition for those who spend 10 percent or more of their income after the cost of housing on energy bills – overnight from 2.5 to 5 million only in England, according to the Resolution Foundation think tank. Some energy companies’ websites collapsed on Thursday as customers rushed to take measurements to prevent companies from divesting their current fiscal year for April, when prices are set to rise. Labor leader Keir Starmer said today was “an important and worrying word for millions of people”, telling Sky News that people were “flying to their beds” about how to pay for rising energy prices. .
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Catch up: E.ON accuses Martin Lewis of “destroying Britain” as energy sites crash
Energy company E.ON appeared to blame money-saving expert Martin Lewis yesterday, following the collapse of suppliers’ websites ahead of Friday’s price hikes. E.ON, British Gas and EF were among the sites that struggled to meet demand yesterday morning. E.ON posted a tweet, answering questions from customers about cash readings. He said: “Unfortunately the website and telephone lines of every supplier are being hammered today. “Martin has once again created an unprecedented demand by overthrowing Britain. If you respond to our personal message by providing the details requested, then we can help. “ Read the full story here: Holly Bancroft 1 April 2022 08:01 1648795823
Minister admits cost of living pressures are “very tough right now”
Home Secretary Kit Malthouse said he acknowledged that the situation around rising energy prices and other pressures on the cost of living was “very dire”. Speaking to Sky News, he said: “It’s very difficult right now. “We fully recognize that a combination of factors means that prices are rising significantly, especially energy prices, driven by various factors – after the pandemic, the war in Ukraine, other types of global factors beyond our direct control – and it is tough. “For those of us who have a smart meter, like we do here in my house, we can see how much it costs us on an hourly basis and it is not enjoyable to read.” (EPA) Holly Bancroft April 1, 2022 7:50 AM 1648795283
Just Stop Oil: Protesters block seven oil terminals and force Exxon Mobil UK to suspend operations
Protesters from the Just Stop Oil group have blocked several “basic oil” terminals across the UK, forcing Exxon Mobil, one of the country’s largest privately owned underground pipeline distribution networks, to temporarily suspend operations at some of its facilities. of. The oil giant confirmed that “small protests” were taking place at the Hythe, Birmingham and West London gas terminals. Locations in Essex and Hertfordshire are also affected, and Essex police say six people have been arrested. Read the breaking news here: Holly Bancroft 1 April 2022 07:41 1648794743
Five million households face energy budget constraints as bills soar overnight
Five million households will be forced to spend at least 10 percent of their budget on energy bills after Friday’s price hikes, according to the latest analysis. The forecast comes as the bill limit jumps by 54%, adding an average of 3 693 a year to the cost for those with pre-selected invoices, write Anna Isaac and Simon Murphy. Rising prices will double the number of households in “fuel stress” – a condition for those who spend 10 percent or more of their income after the cost of housing on energy bills – overnight from 2.5 to 5 million only in England, according to the Resolution Foundation think tank. The figures reflect Chancellor Rishi Sunak’s recent intervention to mitigate the impact. Read the full story here: Holly Bancroft 1 April 2022 07:32 1648794284
ExxonMobil UK suspends operation at three gas terminals due to protests
Oil and gas company ExxonMobil said it was suspending work at three gas terminals this morning following protests by climate activists. Writing on Twitter, the company said: “Small protests are taking place outside the Hythe, Birmingham and West London gas terminals. “While we respect the right to peaceful protest, our priority is the security of our people, our neighbors, our protesters and our businesses.” They continued: “We have temporarily suspended operations from these sites. Our other terminals in Purfleet and Avonmouth are not affected. We ask the protesters to allow us to resume our legal activities. “ Holly Bancroft April 1, 2022 7:24 AM 1648791167
Two out of five households are in fuel poverty as energy bills soar
Two and a half million households with children are in fuel poverty following the entry into force of the new energy ceiling, according to estimates by the End Fuel Poverty Coalition. The research says that this amounts to two in five households and increases to more than half if only single-parent homes are taken into account, Sky News reported. The definition of fuel poverty used here is a household that spends more than 10 percent of its income on energy bills. The survey estimated that up to 9 out of 10 people are estimated to be low on fuel in the Bushbury and Low Hill areas of Wolverhampton, the neighborhood most affected in the country. (AFP / Getty) Sravasti Dasgupta1 April 2022 06:32 1648790274
Websites are crashing as customers rush to submit energy bills
Consumer groups have criticized energy companies for failing to prevent a large-scale collapse of their websites as customers rushed to submit measurements ahead of Friday’s rise in prices. Customers reported problems logging in to supplier sites, including British Gas, EDF, E.On, SSE, So Energy and Octopus Energy as early as Thursday. Sravasti Dasgupta1 April 2022 06:17 1648789141
The burst of inflation will escalate in the coming months, according to a survey by the British Chamber of Commerce
The British Chambers of Commerce (BCC) said its latest quarterly survey showed that nearly two-thirds of British companies are expected to raise prices in the next three months, the highest since the survey began in 1989. The survey was conducted in more than 5,600 companies. The survey found that 62 percent of businesses expected their prices to rise in the next three months, up from 58 percent in the fourth quarter of 2021, the Guardian reported. Only 1 percent expected their prices to fall. When asked what drives companies to raise prices, 92 percent of manufacturers cited raw materials, while 56 percent cited energy and transportation costs, among other overheads. One-third of companies said the cost of labor also influenced their decision to raise prices. Suren Thiru, chief financial officer of the BCC, said in a statement: “High price pressures suggest that the current inflation boom will escalate significantly in the coming months. “The reversal of the VAT cut on hospitality, the higher ceiling on energy prices and the rise in energy and commodity prices amid Russia’s invasion of Ukraine are expected to push inflation well above 8% in near future”. (PA) Sravasti Dasgupta1 April 2022 05:59 1648774819
The biggest leap in energy bills in live memory comes into play
The biggest jump in home energy bills to live memory has now taken effect. The maximum price of energy for those who have defaulted bills that pay with a fixed charge is increased by 693. From 1,277 £ to 1,971. From today. Prepaid customers will see a bigger leap, with their price cap rising by 70 708, from 30 1,309 to 2.0 2,017. The regulator raised the energy price ceiling to a record 97 1,971 for a typical household as gas prices soared to unprecedented levels. The charity National Energy Action (NEA) has warned that the cost of heating an average home has now doubled in 18 months, leaving 6.5 million households able to live in a warm, safe home across the UK. An Ofgem spokeswoman said: “We know this rise will be extremely worrying for many people. “The energy market has faced a huge challenge due to the unprecedented rise in world gas prices, once every 30 years, and Ofgem’s role as an energy regulator is to ensure that, below the price ceiling, energy companies can charge only a fair price based on the actual cost of electricity and gas. “Ofgem is working to stabilize the market and, in the long run, to diversify our energy sources, which will help protect customers from similar price disruptions in the future.” Chris Baynes 1 April 2022 02:00 1648769239
Five million households face energy budget constraints as bills soar overnight
Five million households will be forced to spend at least 10 percent of their budget on energy bills after today’s price hikes, according to the latest analysis. The forecast comes as the bill limit jumps by 54%, adding an average of 3 693 per year to the cost for those with pre-selected invoices. Rising prices will double the number of households in “fuel stress” – a condition for those who spend 10 percent or more of their income after the cost of housing on energy bills – overnight from 2.5 to 5 million only in England, according to the Resolution Foundation think tank. The figures represent recent intervention by Chancellor Rishi Sunak to reduce the impact, according to Anna Isaac and Simon Murphy: Chris Baynes April 1, 2022 00:27
