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Daily Mirror
28-05-2025
- Business
- Daily Mirror
Octopus urges customers to act before July to save money on energy bills
It's important to note that the price cap is not actually a cap on energy bills, it is instead a cap on how much suppliers can charge you for each unit of energy you use. This means the more energy you use, the higher your bill will be Octopus has urged its customers to act ahead of Ofgem's price cap change in July. Last week, the energy regulator announced that its price cap would be dropping by £129 - or 7% - from July 1. Currently, the price cap sits at £1,849 for the typical direct debit customers. From July 1, this will drop to £1,720 a year. It's important to note that the price cap is not actually a cap on energy bills, it is instead a cap on how much suppliers can charge you for each unit of energy you use. This means the more energy you use, the higher your bill will be. The price cap is the lowest it's been since October 2024, and although it has gone down, energy prices are still much more expensive they they used to be. For example, last July, the price cap sat at £1,568 a year. Although prices have come down over the last two years, the energy market is volatile and incredibly susceptible to global politics and conflicts. This means there isn't much stability with prices. Last week, energy analysts at Cornwall Insight published their latest prediction for Ofgem's price cap. The group - which has accurately predicted price cap movements in recent years - expected a "modest drop" in the price cap this October, followed by another in January 2026. However, as mentioned before, it says a range of factors could shift these forecasts, including changing weather patterns, the relaxation of EU gas storage rules, US tariffs and the continuing war in Ukraine. This means if you aren't on a fixed rate deal and are on your provider's "standard variable rate" then you could see prices rise again. The price cap changes every three months, so the new level will be in place until September 30, when it will then be updated again. Energy provider Octopus has urged its customers to consider switching to a fixed-rate deal. In an email, it said locking into a fixed tariff ahead of the price cap change in July would be more beneficial and result in bigger savings in the long-term. The email said: 'From July 1st - September 30th 2025, the energy price cap for a typical home using gas and electricity and paying by Direct Debit will be £1,720 per year. This is 7% less than the April price cap, and will knock about £11 off monthly bills. 'However, even though variable rates have dropped, we think it's still worth locking in your prices on a fixed tariff. These currently offer our cheapest rates, meaning you could save more in the long run. 'This could change in the future, so check out our price cap predictions page for a sense of how we think prices could fluctuate over the year. Just bear in mind there are no guarantees.' A fixed rate tariff locks prices for a set period of time - usually this is a minimum of 12 months. However, it can be even longer and up to 24 months in some cases. As you are locked in, you will not be affected by any changes in the price cap throughout this period. This means you know exactly how much you'll pay per unit of gas and electricity you use during this set time.
Scotsman
27-05-2025
- Business
- Scotsman
Gregor Poynton MP welcomes energy price cap reduction
Livingston constituency MP, Gregor Poynton, has welcomed today's announcement from Ofgem that energy bills will fall by £129 a year for typical households, providing much-needed relief for families across the constituency. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... From 1 July 2025, the energy price cap will drop by 7% to £1,720 per year for a typical household using both electricity and gas and paying by Direct Debit. This means Livingston families will save around £11 every month on their energy bills. "This is fantastic news for working families in Livingston," said Mr Poynton. "At a time when household budgets are under pressure, this £129 annual reduction will make a real difference to people's finances. That's money that can go towards other essential family expenses or be saved for the future." Advertisement Hide Ad Advertisement Hide Ad The reduction comes as global wholesale energy prices have fallen, with Ofgem's latest quarterly review reflecting these lower costs in the price cap that protects millions of households from excessive charges. Gregor Poynton MP visiting a windfarm in his Livingston constituency However, Mr Poynton emphasised that long-term energy security for Livingston and the rest of the country can only come through the Government's mission for clean homegrown power. "While today's news is welcome, we need to get off the rollercoaster of fossil fuel markets. That's how we bring down bills for good and give families the certainty they deserve." The UK Labour Government is taking action to support households beyond this price cap reduction: Advertisement Hide Ad Advertisement Hide Ad •Expanding the £150 Warm Home Discount to 6 million households next winter, helping the most vulnerable families with their energy costs •Upgrading thousands of homes this year to make them warmer and cheaper to heat •Reforming the energy market to ensure consumers are better protected from price volatility For Livingston residents, the new rates from 1 July will mean paying an average of 25.73 pence per kilowatt hour for electricity (with a daily standing charge of 51.37 pence) and 6.33 pence per kilowatt hour for gas (with a daily standing charge of 29.82 pence). Advertisement Hide Ad Advertisement Hide Ad "Every penny counts for families across West Lothian," added Mr Poynton. "This price reduction shows that the Government's approach is working, but we won't stop here. Our commitment to clean, homegrown energy will deliver the long-term security and affordability that my constituents deserve." Livingston residents who are struggling with energy bills are reminded that their energy supplier must help if they ask, and that switching tariffs or suppliers could potentially save even more money.
Daily Record
25-05-2025
- Business
- Daily Record
Livingston MP welcomes Ofgem's energy price cap drop
From July 1, the energy price cap will drop by seven per cent to £1,720 per year for a typical household using both electricity and gas and paying by Direct Debit. Livingston MP Gregor Poynton, has welcomed Ofgem's announcement that energy bills will fall by £129 a year for typical households, providing much-needed relief for families across the constituency. From July 1, the energy price cap will drop by seven per cent to £1,720 per year for a typical household using both electricity and gas and paying by Direct Debit. This means families will save around £11 every month on their energy bills. 'This is fantastic news for working families in Livingston,' said Mr Poynton. 'At a time when household budgets are under pressure, this £129 annual reduction will make a real difference to people's finances. 'That's money that can go towards other essential family expenses or be saved for the future.' The reduction comes as global wholesale energy prices have fallen, with Ofgem's latest quarterly review reflecting these lower costs in the price cap that protects millions of households from excessive charges. However, Mr Poynton emphasised that long-term energy security for Livingston and the rest of the country can only come through the Government's mission for clean homegrown power. He said: 'While today's news is welcome, we need to get off the rollercoaster of fossil fuel markets. That's how we bring down bills for good and give families the certainty they deserve.' For West Lothian residents, the new rates from 1 July will mean paying an average of 25.73 pence per kilowatt hour for electricity (with a daily standing charge of 51.37 pence) and 6.33 pence per kilowatt hour for gas (with a daily standing charge of 29.82 pence). 'Every penny counts for families across West Lothian,' added Mr Poynton. 'This price reduction shows that the Government's approach is working, but we won't stop here. 'Our commitment to clean, homegrown energy will deliver the long-term security and affordability that my constituents deserve.' Livingston residents who are struggling with energy bills are reminded that their energy supplier must help if they ask, and that switching tariffs or suppliers could potentially save even more money.
Forbes
23-05-2025
- Forbes
Modern Croatian Wines Are Hard To Find But Well Worth Looking For In The U.S.
Modern wineries now produce dozens of varietals in almost every part of Croatia. My lack of familiarity with Croatia's wines is not my fault, because, despite 130 different labels now imported in the U.S., they are not easy to find in most wine shops for one simple reason: the Croatians drink most of it themselves; 95% of production stays in country, so producers have no trouble selling it at home. So on my recent trip to Croatia this spring I drank only Croatian wines and visited several wineries. I had the good luck to be in the city of Split when a Festival Vino Dalmacije featuring scores of wines from Dalmatia––one of the principal production regions, along with Istria and Kvarner, Croatian Highlands, Slavonia and Danube. Dalmatia has 41% of all registered wine producers and growers in the country, and I was amazed at the varieties I tasted, including Syrah, Merlot, Chardonnay, Pinot Crni (Pinot Noir), Plavina, Babić, Debit, Maraština, Plavac Mali, Traminac, Tribidrag, Poŝip, Dubrovačka Malvasija and Grk, among 198 registered varietals. A few of these are exported to the U.S. include labels like Bibich, Black Island, Château Mario, Grgić, Rizman and Stina. Zinfandel has, in fact, been shown to be a parent of Zinfandel, which in Croatia has long been known as Crljenak Kaŝtelanski, once a minor varietal, now a major one. (The best source in the U.S. is Croatian Premium Wine.) Many Croatian wineries lie along the Dalmatian coast on the Adriatic Sea, Unlike some other eastern European wines from Georgia, Rumania, Bulgaria and Russia, which tend to be dense and often inky, the wines of Croatia can match the finesse, balanced tannins and acids and specificity of terroir you readily find in Italy and, to an increasing extent, in Greece. For more than 3,800 years wines have been produced in Croatia, back when its inhabitants were known as Illyrians, and cultivation by Greeks, then Romans, improved quality with better viticultural techniques and plantings. Like many European vineyards, Croatia's were devastated in the late 19th century by the phylloxera infestation, then Croatia became part of the post-World War I Balkan countries under the socialist regime of Yugoslavia, with its communal vineyards were under the control of the government. Yugoslavia broke up in 1991 and Croatia became independent and entrepreneurial. Even so, it wasn't really until the first decade of the present century that new, independent wineries began to flourish. In Apreil a Festival Vino Dalmacije in Split showed off scores of Dalmatian labels. Today, along with tourism, ship, building and seafood, wine production has become a major industry, and since seafood is so important and widely consumed, Croatia's white and rosé wines like Posip, Maraština and Debit, with lovely minerality and alcohol of about 12.5%, go very well with its abundance of fish, crustaceans and mollusks. Agrotourism is widespread in Croatia and at Kastel Sikuli you may enjoy a multi-course feast ... More overlooking their hillside vineyards. Agrotourism is soaring now––in fact tourists now exceed the number of people living in the entire country––with 50% of the wineries open for public tastings. At one of them, Kastel Sikuli, you may enjoy a multi-course feast (three courses €50, four €105 and six €55) in a glassed-in dining room overlooking their hillside vineyards, where I enjoyed a shrimp tartare starter; then dried hake with caviar and a cheese foam; and lamb with pasta in a reduction of red wine. The white wine was and blend of Pošip and Chardonnay, and the red a blend of Merlot and Cabernet Sauvignon. Monika Provic, CEO of Prović Winery and director of the Wine of Dalmatia Association. There are also many wine bars with food in the cities, including MonNIKa's, close to the Adriatic Sea in Split, owned by Monika Prović, CEO of Prović Winery and director of the Wine of Dalmatia Association. There I had an array of tapas, charcuterie and cheeses (€60) with her family's wines made in Opuzen that included a Merlot and Cabernet Sauvignon blend, a Naron Chardonnay and a native varietal named Liviya, named after the wife of Emperor Caesar Augustus. As I've written in previous columns, Croatia is well worth visiting for its natural beauty and history, but it is exciting now to eat and drink at the beginning of an time when its wine industry is truly getting under way thanks for family-owned wineries and new blood. Now if they can only increase production and export more out of the country, we can all appreciate the fruits of their labors.
Daily Record
19-05-2025
- Business
- Daily Record
Millions default on energy bills as debt hits record high - here's how to get help
More than 2.7 per cent of gas and electricity Direct Debit payments failed in April. More British households than ever are defaulting on their energy bills, with new figures from the Office for National Statistics (ONS) showing just how tough things are right now. Last month (April), more than 2.7 per cent of gas and electricity direct debits failed because there wasn't enough money in people's accounts. That's the highest rate since records began in 2019 - and three times higher than before the energy crisis hit. At the same time, more people are missing loan repayments, often taken out to cover everyday costs. Nearly 3.9 per cent of Direct Debit loan payments failed last month, compared to just over 2 per cent during the pandemic. Even though the energy price cap has come down slightly this year, millions are still struggling with the impact of last winter's high bills. While the recent unseasonably warm weather means many households are using less energy right now, it hasn't eased the burden for those already in debt. For people who fell behind over the colder months, lower usage now doesn't undo the damage that's already been done. Matthew Sheeran, energy expert at Money Wellness, said: 'These figures are deeply worrying, but they're not surprising. More and more people are facing impossible decisions between heating their homes, feeding their families or keeping up with repayments. 'The good news is that help is available, from supplier grants to debt write-offs. The earlier people ask for support, the better their chances of turning things around.' Financial help to reduce energy debt Here are six practical tips Money Wellness recommends for getting support with your energy bills. Apply for energy grants and hardship funds Most suppliers offer grants to help people struggling with energy bills. These don't need to be paid back and can help clear arrears or reduce future bills. The British Gas Energy Trust, for example, is open to anyone, not just British Gas customers, and has written off thousands of pounds in energy debt. EDF, Octopus, and also run similar schemes. You'll usually need to complete a budget form and provide meter readings and income details. Contact your supplier directly to see what's available. Talk to your supplier as early as possible It might feel intimidating, but the best thing you can do if you're falling behind is speak to your energy company. They're legally required to help you if you're struggling. That could mean a more manageable payment plan, time to apply for grants, or switching to a better tariff. The earlier you get in touch, the more they can do. Look into energy efficiency upgrades Improving how your home uses energy can help reduce bills long-term. The government's Great British Insulation Scheme offers free or discounted insulation and other upgrades if your home has a low energy rating and is in council tax bands A to D. These changes, like better insulation or heating controls, could cut hundreds of pounds a year from your bill. You can check your eligibility online. Get free debt advice and explore ways to reduce what you owe If you've got more than just energy debt, speak to a free, regulated debt adviser who can help. Non-profit organisations such as the Citizens Advice network, Christians Against Poverty and the National Debt Helpline offer free, impartial and confidential advice. Use budgeting tools to stay in control When money's tight, having a clear view of where it's going can really help. Use a free budgeting tool to help you track spending and spot savings. It might also be useful to see if you're missing out on any benefit support or government grants using a free online checker. Many people discover support they didn't know they were entitled to. Small changes can quickly add up and really help. Check if you are eligible for the Warm Home Discount This winter scheme gives £150 off your electricity bill during the colder months. If you get the Guarantee Credit part of Pension Credit, it's applied automatically. Others on low incomes may also qualify, depending on their circumstances. In England and Wales, most people don't need to apply, but in Scotland, you might still need to contact your supplier. Full details can be found on here.
