Latest news with #NationalEnergyAction
South Wales Argus
4 days ago
- Business
- South Wales Argus
Fuel poverty in Wales: 340,000 homes struggling in 2024
New estimates from the Welsh Government reveal that 340,000 homes in Wales were in fuel poverty as of October 2024, meaning they need to spend more than 10 per cent of their income to heat their homes. Ben Saltmarsh, head of Wales at National Energy Action, said: "Fuel poverty has deepened dramatically in recent years. "Too many are living in cold homes, rationing essentials, and mired in debt – with grave physical and mental health consequences. "Children are growing up in conditions that can damage their life chances for decades. "Paying over £1,700 a year for a basic utility isn't normal – and in many parts of Wales it's even higher, since north Wales faces the highest energy costs in Great Britain and south Wales is not far behind." He said the figures highlight a major challenge ahead of the 2026 Senedd election. Mr Saltmarsh said: "With significant expected consequential funding from the UK government's Warm Homes Plan, all political parties in Wales must commit to considerably increasing investment in energy efficiency should they form the next Welsh government." National Energy Action is calling for continued emergency crisis support, including help to top up prepayment meters and purchase off-gas fuel such as oil and LPG. The charity also wants the UK Government to offer deeper energy bill support for those unable to afford a warm home and is urging Ofgem to help low-income households repay energy debt, much of which was accrued during the recent energy crisis.
TimesLIVE
23-05-2025
- Business
- TimesLIVE
Energy bills to fall for millions of Britons as price cap dips 7%
Millions of British households will see lower energy bills from July after regulator Ofgem said its domestic price cap would fall 7% to reflect lower wholesale energy prices. The reduction is welcome news for the government, under pressure to ease a cost-of-living squeeze, and comes after data earlier this week showed a bigger-than-expected rise in inflation in April. "Global wholesale prices for energy have gone down. While this is the main cause, changes to supplier business costs have also made an impact on energy prices falling," Ofgem said. Wholesale gas and power prices are a major part of the formula the regulator uses to calculate the price cap. Benchmark British gas prices have fallen almost 40% since their peak in February, dented by fears over an industrial slowdown and global trade war and after the EU parliament backed weaker gas storage rules. Despite the fall, domestic energy prices remain about 50% higher than they were in the summer of 2021, before Russia's invasion of Ukraine sent gas prices soaring and sparked an energy price crisis in Europe. Consumer groups warned energy costs remain unmanageable for many households and called for more support for those struggling. "Any fall in the price of energy is always welcome news, but this is a short fall from a great height. Bills remain punishingly high for low-income households," said Adam Scorer, CEO of energy poverty charity National Energy Action. British Prime Minister Keir Starmer on Wednesday said he recognised older people were feeling the pressure of energy prices and he wanted to ensure more pensioners become eligible for winter fuel payments, having curbed the number of people eligible last year. Ofgem's new cap of £1,720 (R41,552) a year for average use of electricity and gas is down £129 (R3,116) from the previous cap for April to June.
RTÉ News
23-05-2025
- Business
- RTÉ News
UK energy bills to fall as price cap dips by 7%
Millions of British households will see lower energy bills from July after regulator Ofgem said its domestic price cap would fall 7% to reflect lower wholesale energy prices. The reduction is welcome news for the UK government, under pressure to ease a cost-of-living squeeze, and comes after data earlier this week showed a bigger-than-expected rise in inflation in April. "Global wholesale prices for energy have gone down. While this is the main cause, changes to supplier business costs have also made an impact on energy prices falling," Ofgem said in a statement. Wholesale gas and power prices are a major part of the formula the regulator uses to calculate the price cap. Benchmark British gas prices have fallen almost 40% since their peak in February, dented by fears over an industrial slowdown and global trade war and after the EU parliament has backed weaker gas storage rules. Despite the fall, domestic energy prices remain around 50% higher than they were in the summer of 2021, before Russia's invasion of Ukraine sent gas prices soaring and sparked an energy price crisis in Europe. Consumer groups warned that energy costs remain unmanageable for many households and called for more support for those struggling. "Any fall in the price of energy is always welcome news, but this is a short fall from a great height. Bills remain punishingly high for low-income households," Adam Scorer, Chief Executive of energy poverty charity National Energy Action, said. British Prime Minister Keir Starmer said earlier this week he recognised that older people were still feeling the pressure of energy prices and he wanted to ensure that more pensioners become eligible for winter fuel payments, having curbed the number of people eligible last year.
Daily Mirror
23-05-2025
- Business
- Daily Mirror
Energy calculator - see how your bill will change as Ofgem confirms price cap
You can estimate how much your energy bill will drop from July after the changes from Ofgem were confirmed by using our calculator below Energy bills are set to fall from July as Ofgem announces its new energy price cap - and you can use our calculator to see how much less you will pay. The regulator changes the price cap every three months, with the latest one set to take effect on July 1 and continue through to September 30. The new cap means that the typical household will pay £1,720 annually for gas and electricity, for a standard dual-fuel direct debit plan. This represents an average fall of 7% per household compared to the cap for between April and June. It works £129 a year less for the typical bill. You can estimate how much your energy bill will drop from July by using our calculator. It also means that bills will be 28%, or £660 lower than at the height of the energy crisis in 2023. The impact of these changes will vary from household to household though, depending on how much fuel you use. The cap does not limit household total bills - the £11 monthly fall is based on typical usage - but rather the amounts charged per unit and the daily standing charge. Tim Jarvis, Director General of Markets at Ofgem, said: 'A fall in the price cap will be welcome news for consumers, and reflects a reduction in the international price of wholesale gas. However, we're acutely aware that prices remain high, and some continue to struggle with the cost of energy. 'The first thing I want to remind people is that you don't have to pay the price cap – there are better deals out there so it's important to shop around, and talk to your existing supplier about the best deal they can offer you. And changing your payment method to direct debit or smart pay as you go can save you up to £136. Get the best deals and tips from Mirror Money 'In the longer term, we need an energy system where prices are insulated from the volatile international gas market, and which ensures more stable prices and energy security. And we're working closely with government to get the investment we need to reach our clean power and net zero targets as quickly as possible. 'We're also doing everything we can to support consumers today and pushing ahead with more changes to help consumers. This includes working on ways to support those trapped in energy debt and bringing in reforms to standing charge tariffs for this winter.' The Chief Executive of National Energy Action - a fuel poverty charity - Adam Scorer says, 'Any fall in the price of energy is always welcome news, but this is a short fall from a great height. Bills remain punishingly high for low-income households. 'Four years of extraordinarily high energy bills has taken its toll. We hear heart-breaking cases every day. 'The likely expansion in eligibility for the Winter Fuel Payment will be a relief for some, but National Energy Action is calling for deeper energy bill support and a real focus to support households out of debt.'
Telegraph
23-05-2025
- Business
- Telegraph
Household energy bills to fall by £129 as price cap drops
Ofgem, the energy regulator, has set its price cap – the amount suppliers are allowed to charge their customers – at £1,720 per year, falling from its current cap of £1,849. It follows three consecutive increases in bills that have heaped pressure on consumers and driven the rate of inflation up. Ofgem changes its price cap every three months. Energy industry analysts at Cornwall Insight this week predicted that another 'modest drop' would follow in October, with another to come in January. The fall in household's bills comes after Donald Trump's trade war hammered gas and oil prices as uncertainty over tariffs weighed on prices. At the same time, Opec cartel members have been pushing through oil production increases, adding further downwards pressure. Adam Scorer, chief executive of National Energy Action, said despite the fall household bills still remained 'punishingly high'. He said: 'Four years of extraordinarily high energy bills has taken its toll. We hear heart-breaking cases every day.'
