The conflict in Ukraine has prompted European Union customers to reduce their purchases of Russian energy while the G7 and the EU are trying to impose a price cap on Russian oil and gas. "Such a one-sided decision is of course a violation of existing contracts, which would lead to...
While the energy price cap is due to be revised by Britain's energy regulator the Office of Gas and Electricity Markets (Ofgem) this February, experts are expecting a rise of around 50 percent in consumers energy bills by April. "The default tariff energy price cap looks set to rise by 4...
The consultation will be launched in November and a decision on any changes will be published in February, when the next price cap will be announced but in time for any changes to be implemented before it comes into effect in April. Some of the energy market's ...
To date in 2025, British Gas's energy prices have risen once in line with the energy price cap, which increased from £1,717 to £1,738. Like most energy suppliers in the UK, British Gas standard variable tariffs have been subject to Ofgem's energy price cap since its introduction ...
BRUSSELS (AP) — European Union countries should set a price cap on Russian natural gas and seek a “solidarity contribution” from European oil and gas companies making extraordinary profits as the war in Ukraine drives up energy costs, European Commiss
"On the consumer side we've got an energy price cap and on the industry side we have measures where we support industries, heavy electricity users. "What I'm very clear about is we need to help them get through this situation - it's a difficult s...
LONDON, May 13 (Xinhua) -- British Gas owner Centrica said on Monday that trading environment has been challenging in the first four months of this year, after losing 234,000 UK customers due to a higher energy price cap. Centrica, parent of British Gas, the largest energy supplier in Bri...
Energy, Environment & Transport Czech government approves electricity, gas price cap The Czech government agreed on Monday (12 September) to cap electricity and gas prices next year to shield households from soaring prices on markets, Prime Minister Petr Fiala said. "We are guaranteeing the price ...
Ofgem's new energy price cap has certainly been a hot topic recently, having lasting consequences for approximately 22 million customers across the UK. The unprecedented increase in global gas prices, due in part to Russia's invasion of Ukraine, has contributed most heavily to this crisis. To ...
*The energy price cap increased by 10% on 1 October 2024, with a further increase predicted for 1 January 2025. Everything you need to know about switching energy 1. Most households are currently on the price cap The majority of households are currently on their provider’s standard variable...