The head of the International Energy Agency has said energy prices may spike again this winter, forcing government to subsidise bills – just days after state support for UK households fell away. Fatih Birol said a rapid improvement in the Chinese economy, coupled with a harsh winter, could put pressure on gas supplies and push up bills for consumers. He said the agency “cannot rule out” another spike in gas prices this winter, which would mirror last year when a surge in wholesale costs as a result of Russia’s invasion…
Tag: Energy bills
British Gas is ready to bully beyond the grave | Brief letters
“It’s not who we are,” says British Gas in response to criticism of its bullying tactics (‘It’s not who we are,’ wails British Gas. Sorry but when you’re using bailiffs to install meters, that’s exactly who you are, 3 February). Oh, yes it is. This is a company with a “bereavement team” that is, in fact, a debt collection agency. Nothing could surprise me now about British Gas. Edith Nicoll Menstrie, Clackmannanshire In response to Janet Mansfield (Letters, 1 February), as a politics teacher at Loreto sixth-form college in Manchester,…
UK energy bills to fall to about £2,200 from July as wholesale gas costs drop
Energy bills are expected to fall to about £2,200 from July in a fillip for the government and households struggling with ballooning costs. Leading energy consultancy Cornwall Insight has predicted that, excluding government subsidies, typical annual household energy bills will have fallen from £4,279 now to £3,208 from April, and then will ease to roughly £2,200 for the remainder of the year. The forecasts are about £300 a year lower than its previous expectations because of the recent fall in wholesale gas costs. Nevertheless, bills are set to remain far…
Leading economies sliding into recession as Ukraine war cuts growth, OECD finds
The world’s leading economies are sliding into recession as the global energy and inflation crises sparked by Russia’s invasion of Ukraine cut growth by more than previously forecast, according to the Organisation for Economic Co-operation and Development (OECD). A dependency on expensive gas for heavy industry and home heating will plunge Germany, Italy and the UK into a long period of recession after global growth was projected by the OECD to slow to 2.2% in 2023 from a forecast in June of 2.8%. With the global economy needing to grow…