According to a new report released by the Public Accounts Committee today (16 June), approximately 1.7 million were left waiting for months for help on energy bills due to a “lack of bandwidth” from the government.
Cornwall Insight’s latest price cap prediction has shifted only £38 since March 2023, reflecting the UK’s wholesale energy market's decreased volatility.
In our weekly issue of Current± Price Watch – powered by Enact – we take a look at Britain’s interconnector plans, the approach of the end of the ESO’s Winter Enhanced Actions options, and passing on the drop in wholesale prices to consumers.
Longer term market signal are the key focus of this week’s edition of Current± Price Watch – powered by Enact – taking a look at the T-4 Capacity Market results, the new default tariff price cap and incoming weather fronts.
Wholesale gas price volatility caused by the Russian invasion of Ukraine, has cost the UK around £1,000 for each adult, the Energy and Climate Intelligence Unit (ECIU) said.
The drop in wholesale power prices has meant that the Default Tariff Price Cap is now projected to fall below the Energy Price Guarantee (EPG) from July (Q3 2022).
E.ON has seen it’s profits soar amid the background of continued high wholesale prices, with annual profit growth from £5.2 billion Core EBITDA to between £5.8 billion and £6 billion.
Conservative leadership candidate Rishi Sunak has pledged to provide additional support for families if elected in September, as predictions for the price cap jumped again this week to pass £4,200.
