• Latest
  • Trending
  • All

Energy bills forecast to rise by £85 a year

February 19, 2025

Thousands of NI workers to get pay bump as Real Living Wage rises

October 15, 2026

Burnham had two hospitality dinners with Man City chairman, deleted records show

October 15, 2026

Anthropic flags revenue surge to investors ahead of stock market debut

October 15, 2026

Sussex time capsule celebrates 100 years of Winnie-the-Pooh

October 15, 2026

Netflix to shed 1,000 jobs in steepest cuts since 2022

October 14, 2026

US inflation rises more than expected – here’s what is happening with prices

October 14, 2026

Watch: Can the Fort Hood shooter’s execution be livestreamed?

October 14, 2026

Starlink: Musk says US government may be behind slowdown of Ukraine drone speeds

October 14, 2026

We are behind you and that will not change, PM tells Zelensky

October 14, 2026

Raye hits back at ticket touts who took over Albert Hall sign-up

October 14, 2026

Swimmer Archie Goodburn thanks prime minister as brain cancer review announced

October 14, 2026

Ji-sung Eom racist abuse: Millwall boss Alex Neil criticised for stoppage comments

October 14, 2026
News
  • Login
  • Home
  • News
  • Sports
  • Worklife
  • Travel
  • Reel
  • Future
  • More
Thursday, October 15, 2026
No Result
View All Result

NEWS

3 °c
London
8 ° Wed
9 ° Thu
11 ° Fri
13 ° Sat
  • Home
  • Video
  • World
    • All
    • Africa
    • Asia
    • Australia
    • Europe
    • Latin America
    • Middle East
    • US & Canada

    Sydney teen charged with murder of boy who was shot in face

    Republic of Ireland: Public sector strike begins

    Mauritius reels from worst riots in decades after woman shot by police

    Australia’s first Michelin stars awarded to 11 restaurants

    Germany puts Ukrainian on trial accused of blowing up Nord Stream pipelines

    Argentina targets UK in legal claim over Falklands oil exploration

    Houthi missile hits Aramco building after Saudi-led coalition hits Yemen fuel depot

    Pope diagnosed with lung cancer but had successful surgery, Vatican says

    Qantas flight grounded after bedbug outbreak

  • UK
    • All
    • England
    • N. Ireland
    • Politics
    • Scotland
    • Wales

    Burnham had two hospitality dinners with Man City chairman, deleted records show

    Sussex time capsule celebrates 100 years of Winnie-the-Pooh

    We are behind you and that will not change, PM tells Zelensky

    Swimmer Archie Goodburn thanks prime minister as brain cancer review announced

    Ji-sung Eom racist abuse: Millwall boss Alex Neil criticised for stoppage comments

    Waterford: Vigil held after murder of four family members

    Zelensky and Burnham to meet in Downing Street

    Family pays tribute to ‘warm and engaging’ man killed in tiger attack

    Man killed in tiger attack identified as William Chapman

  • Business
    • All
    • Companies
    • Connected World
    • Economy
    • Entrepreneurship
    • Global Trade
    • Technology of Business

    Thousands of NI workers to get pay bump as Real Living Wage rises

    Netflix to shed 1,000 jobs in steepest cuts since 2022

    US inflation rises more than expected – here’s what is happening with prices

    Shropshire heating oil users face tough choices as prices rise

    Poundland in rescue talks as owners seek buyer

    Three things we’ve learnt about the UK economy from the IMF

    Cost-of-living struggles inspire new supermarket in Newcastle-under-Lyme

    Lego fraudster among last year’s most high-profile insurance scammers

    Healey faces £35bn Budget challenge to meet spending pledges, says think tank

  • Tech
  • Entertainment & Arts

    Meghan hits red carpet at Power of Women in Hollywood

    Margot Robbie unable to speak at Saltburn premiere

    Barbra Streisand: Siri can now pronounce my name

    Wes Anderson’s The Grand Budapest Hotel inspires cinema’s look

    Taylor Swift/ Travis Kelce romance reaches White House

    The Killers booed at Georgia concert after inviting Russian fan on stage

    Watch: Memorable moments from Parkinson's star-studded show

    Tom Jones: Neighbour surprised to find singer in flat below

    Black Country Folk Festival showcases local musicians

    Watch: Australians set new world record with Tina Turner dance

  • Science
  • Health
  • In Pictures
  • Reality Check
  • Have your say
  • More
    • Newsbeat
    • Long Reads

NEWS

No Result
View All Result
Home Business Economy

Energy bills forecast to rise by £85 a year

February 19, 2025
in Economy
4 min read
252 3
0
495
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


Domestic energy prices are forecast to rise by 5% from April, adding £85 a year to household bills, according to consultancy Cornwall Insight.

The forecaster, which is widely regarded for its accurate predictions, said a household using a typical amount of gas and electricity would pay £1,823 a year.

The figures emerged as Energy Secretary Ed Miliband wrote an urgent letter to Ofgem, the regulator which sets the price cap, asking it to move quickly to protect consumers.

The predicted higher prices will take effect at the same time as increases to water and council tax bills in April.

However, minimum wage levels will also go up while benefits and the state pension will increase.

Cornwall forecasts that the price cap will rise from its current level of £1,738 per year for a typical household.

Higher household bills are likely to add pressure to the government who are already facing criticism for removing the winter fuel allowance from elderly people not claiming the pension credit or other means-tested financial support.

Ofgem will announce the official new energy price cap level on 25 February, which will affect homes in England, Wales and Scotland.

The predicted rise will come as the days get lighter and warmer, when energy use tends to fall.

Cornwall say the hike is due to a combination of colder weather and a fall in gas storage levels across Europe, which has led to a sharp rise in wholesale prices.

Bills are about 50% higher than pre-Covid levels, but remain below the peak reached in 2022 when Russia’s full-scale invasion of Ukraine caused energy prices to spike.

The price cap affects 26 million households on default, variable tariffs and is set every three months by Ofgem.

While the cost of each unit of gas and electricity is capped, the total bill is not, so household bills will vary depending on how much energy is used.

The regulator illustrates the cap by showing the impact on the annual bill of a household with typical energy usage.

In January, there was a 1.2% rise – which worked out as £1.75 extra a month compared with the previous cap.

A period of high prices means households have collectively built up debt of £3.8bn to suppliers.

The average household in arrears owes more than £1,500 for electricity and £1,300 for gas.

A rise in the energy cap would mean a third successive increase in energy bills at a time of year when the weather starts to get warmer and households would usually hope to see a reprieve in costs.

National Energy Action (NEA), a charity aimed at helping people struggling with energy bills, said it will feel like an “interminable winter” for many.

“There is no getting used to this new normal for the people we try to help,” said NEA’s chief executive Adam Scorer.

“Millions of the most vulnerable households are struggling with debt and severely rationing their heating.”

The Energy Savings Trust said changes to how buildings are insulated helps to lower bills.

The trust’s head of policy, Stew Horne, said: “We’re urging policymakers to put in place clear, actionable steps to help people upgrade their homes to make them warmer and more affordable to heat.”

He suggested setting up a national retrofit advice service to “enable people to feel confident to install measures, such as insulation and draught proofing”.

In his letter to the regulator, Miliband asked the Ofgem chief executive to set out faster means it can pursue to ease the pressure of the “rollercoaster” of global gas markets.

“In recent months we have seen once again the dangers for our country of being exposed to fossil fuel markets controlled by petrostates and dictators,” he wrote.

“Once again, the British people and British businesses will face the consequences of fossil fuel markets we do not control,” he added.



Source link

Tags: billsenergyforecastriseyear

Related Posts

US inflation rises more than expected – here’s what is happening with prices

October 14, 2026
0

Inflation has risen to 3.7% in the year to September, which is a higher-than-expected increase fuelled by petrol prices.Vehicle...

Three things we’ve learnt about the UK economy from the IMF

October 13, 2026
0

There is increased concern about how much money countries are borrowing, but the IMF said the UK is doing...

Healey faces £35bn Budget challenge to meet spending pledges, says think tank

October 12, 2026
0

Chancellor John Healey faces having to find £35bn to avoid cuts to public spending while meeting defence promises in...

  • Lee McGregor: Scot seeks world title in 2025 & Nathaniel Collins bout

    680 shares
    Share 272 Tweet 170
  • Belgian footballer arrested in cocaine investigation

    535 shares
    Share 214 Tweet 134
  • Next to raise prices to help pay for rising wage costs

    534 shares
    Share 214 Tweet 134
  • South Wales Police officers injured, one arrested

    526 shares
    Share 210 Tweet 132
  • ‘It stirred the people to breathless wonder and scalding abuse’: The tumultuous history of the Sydney Opera House

    521 shares
    Share 208 Tweet 130
  • Trending
  • Comments
  • Latest

Lee McGregor: Scot seeks world title in 2025 & Nathaniel Collins bout

January 16, 2025

Belgian footballer arrested in cocaine investigation

January 27, 2025

Next to raise prices to help pay for rising wage costs

January 7, 2025

World Cup 2022: TikTok brings football fever to millions of fans

0

UK economy will get worse before it gets better, warns chancellor

0

One of Central America’s most active volcanoes erupts again

0

Thousands of NI workers to get pay bump as Real Living Wage rises

October 15, 2026

Burnham had two hospitality dinners with Man City chairman, deleted records show

October 15, 2026

Anthropic flags revenue surge to investors ahead of stock market debut

October 15, 2026

Categories

Business

Thousands of NI workers to get pay bump as Real Living Wage rises

October 15, 2026
0

About 6,000 workers in NI are paid the Real Living Wage - which is voluntarily paid to reflect the...

Read more

Burnham had two hospitality dinners with Man City chairman, deleted records show

October 15, 2026
News

© 2023 GODJ - NEWS CORP - news.godj.com.

Explore NEWS.GODJ.COM

  • Home
  • News
  • Sports
  • Worklife
  • Travel
  • Reel
  • Future
  • More

Follow Us

  • Home Main
  • Video
  • World
  • Top News
  • Business
  • Sport
  • Tech
  • UK
  • In Pictures
  • Health
  • Reality Check
  • Science
  • Entertainment & Arts
  • Login

© 2023 GODJ - NEWS CORP - news.godj.com.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.