Household Energy

PM indicates he would prefer to focus taxpayer-funded help on poorest households, rather than universal bailoutMinisters are looking at providing support for household bills next winter, Keir Starmer said, as he suggested the energy price shock unleashed by the Iran conflict could continue for months to come.The prime minister indicated he would prefer to focus any taxpayer-funded help on the poorest households, rather than an expensive universal bailout, ahead of an emergency meeting on the economic fallout of the Middle East crisis. Continue reading...

Consultancy’s forecast of £1,972 annual dual fuel bill follows conflict pushing UK’s gas market past three-year highsBusiness live – latest updatesHousehold energy bills in Great Britain could soar by more than £330 a year to almost £2,000 from this summer after the war in Iran pushed the UK’s gas market past three-year highs.A typical combined household gas and electricity bill is now forecast to reach £1,972 a year from July under the UK government’s quarterly price cap, according to analysis by Cornwall Insight, an energy consultancy. Continue reading...

As Iran war drives up cost concerns, thinktank says £3.7bn discount system should be developed before next winterThe UK government is facing calls to spend almost £4bn to launch a “social tariff” providing cheaper energy for poor households amid growing concerns over the Iran conflict.As households brace for an increase in living costs, the Resolution Foundation said ministers should develop a system of discounted domestic energy bills in time for next winter to protect the most vulnerable households. Continue reading...

But Michael Shanks says government will not be rushed into plans to reduce costs faced by households due to war in IranBritain’s energy minister has said “every penny” levied on household energy bills will be scrutinised after suppliers warned that households could face a price hike of £250 a year due to the war in Iran.Michael Shanks told MPs that the government would stand ready to provide support wherever needed, but it would not be rushed into plans to reduce the costs faced by households or offer direct financial support. Continue reading...

Ecotricity ranked top in Citizens Advice survey, followed by Outfox, Octopus and Co-operativeBusiness live – latest updatesAround 14 million households in the UK are receiving “below average” customer service from their energy supplier, a consumer group has warned.Citizens Advice said energy suppliers must improve their service, as its survey of 16 companies showed that half of gas and electricity consumers are with suppliers scoring less than three out of five stars for their customer service. Continue reading...

Prime minister expected to set out tens of millions of pounds in help for heating oil users as conflict with Iran drives up costsKeir Starmer will on Monday announce tens of millions of pounds’ worth of support for Britons hit by a spike in energy prices as a result of the Iran war.The prime minister will lay out the plans during a press conference in Downing Street on Monday, during which he will also take aim at some suppliers of heating oil for price gouging. Continue reading...