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The Latest Breaking News from Ofgem

Energy bosses face bonus ban under tough new regulator powers

IN FULL

The Independent UK

Regulator to get power to ban energy bosses’ bonuses under reforms

Ofgem is to be ‘transformed’ to strengthen consumer protection under the first major update to its scope since it was founded in 2000.

Evening Standard

Energy firm bosses could lose bonuses if they ‘break the rules’ in major Ofgem reforms

The energy regulator is set to undergo a ‘transformation’ to enable it to enforce quicker compensation for households let down by their suppliers

The Independent UK

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Take excess profits from energy giants to give £183 back to customers, think tank says

‘Billions’ taken by grid giants, ‘that cannot be right’ says IPPR

The Independent UK

Household energy bills ‘set to rise by lower-than-first feared 12%’ in July

Cornwall Insight said its prediction for Ofgem’s cap from July to September now stands at £1,837 for a typical dual fuel household.

Evening Standard

US-Iran war will still hit energy bills despite ceasefire, experts warn

Gas prices are ‘likely to stay elevated’ for some time, one consultant said

The Independent UK

Thousands of small UK firms’ energy bills set to more than double due to Iran war

Companies using heating oil have already begun rationing their fuel use, says Federation of Small Businesses

The Guardian - UK

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Reeves: Government ‘can’t alleviate every price increase’ from Iran war

Chancellor Rachel Reeves said contingency planning was under way to deal with the economic fallout from the Middle East crisis.

Evening Standard

Household energy bill drop ‘short-lived respite’ amid fears of July hike

Ofgem’s price cap has dropped from £1,758 to £1,641 – a reduction of £117 or around £10 a month for the average household.

Evening Standard

Energy bills in Great Britain forecast to hit almost £2,000 a year this summer

Consumers brace for ‘awful April’ and Iran war cost hikes, which have pushed UK’s gas market past three-year highs

The Guardian - UK

Starmer holds emergency meeting over cost of Iran war as energy bills set to 'rise by £288' in summer

Chancellor Rachel Reeves has already indicated that targeted help for poorer households could be available if bills continue to rise

Evening Standard

Energy bills predicted to surge by £288 a year from July as rise ‘unavoidable’

Cornwall Insight’s latest forecast for the price cap now stands at £1,929, which is £44 lower than its prediction earlier this month.

Evening Standard

Energy bills still forecast to rise nearly £300 in summer, households warned

The price cap could hit nearly £2,000 in July, a respected forecaster has said

The Independent UK

The grid unlocked: how does a greener power network actually work?

The UK’s electricity ‘supergrid’ was built in the 1950s – designed for a different era that was reliant on fossil fuels. Here we explore why in an increasingly connected and electrified world, it needs a radical upgrade

The Guardian - UK

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Evening Standard

E.On boss calls for energy bills support to be ‘targeted’ as prices set to jump

The UK chief executive said he hopes any support package on bills will be directed towards those most in need.

The Independent UK

How to look after your money during the Iran war: Energy bills, savings and pensions

From pensions to mortgages to energy bills, here’s what to do now

The Independent UK

How the Strait of Hormuz closure could affect your finances

Prime Minister Sir Keir Starmer’s official spokesman said the ‘Strait of Hormuz specifically needs to be reopened’

Evening Standard

Strait of Hormuz closure: 10 ways it could impact your finances

The Press Association looks at 10 ways that the disruption to the critical international shipping route could impact people’s finances.

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The Independent UK

UK energy bills forecast to rise more than £300 this summer amid Iran crisis

Conflict in the Middle East has driven up wholesale gas prices

Evening Standard

Ed Miliband calls for fairness in business energy contracts amid Iran crisis

Mr Miliband said pricing needs to be ‘fair, transparent and fully justifiable’.

Evening Standard

Government ‘stands ready’ to support consumers with energy bills

Energy minister Michael Shanks told MPs ‘we stand ready to provide whatever support is needed to consumers’.

Evening Standard

Financial help for households reliant on heating oil – who is eligible?

Home heating oil is used by around 1.5 million mainly rural households in the UK.

Evening Standard

Trump's war in Iran 'will make London families up to £1,500 worse off'

City economist said families will have to pay more for essential bills leaving less for “the more enjoyable things in life”

The Independent UK

Starmer to pledge support for UK’s poorest homes to help with soaring energy bills

Vowing to support working people ‘whatever challenges lie ahead’, the PM will use a press conference on Monday to set out support for those facing soaring energy bills

The Independent UK

Rachel Reeves vows to support households with rising energy costs as Middle East crisis hits oil prices

Reeves has pledged to support those battling with escalating energy bills amid the Middle East crisis

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