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The Latest Breaking News from Ofgem

Consumer confidence rises slightly following signs of Iran ‘de-escalation’

Confidence in the economy over the next three months remains firmly in negative territory at minus 48, but up from minus 53 last month.

Evening Standard

Inside Reeves’ cost of living plan which could see UK consumers save more than £150 million a year

Reeves will give details of policies to tackle the cost-of-living squeeze triggered by the Iran war

The Independent UK

Cheaper food and free bus rides for children in Reeves’ cost-of-living plan

Rachel Reeves said: ‘My number one priority is protecting households from rising costs.’

Evening Standard

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Why has inflation gone down and where will it go from here?

Economists said April’s inflation fall will only be a brief respite before the Middle East conflict sends prices spiking again.

Evening Standard

UK inflation rate set to fall as lower household energy bills offset fuel surge

Most economists think the rate of Consumer Price Index (CPI) inflation slowed to 3% in April, from 3.3% in March.

Evening Standard

Cost of living crisis looms as Iran energy shock threatens UK inflation rebound

Experts caution that future turbulence is on the way despite UK inflation easing last month

The Independent UK

Energy bills set to rise by £209 from July as experts issue dire winter warning

Energy cap prediction now £1,850 for a typical dual fuel household, a 13% increase

The Independent UK

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Energy bills forecast to rise by £209 in July amid fears over winter cost crunch

Cornwall Insight said its prediction for Ofgem’s cap from July to September now stands at £1,850 for a typical dual fuel household, a 13% increase.

Evening Standard

UK inflation rate set to fall as lower household energy bills offset fuel surge

Some economists think the rate of Consumer Prices Index inflation slowed to 3% in April, from 3.3% in March.

Evening Standard

British Gas faces record £112m settlement over prepayment meter scandal

Redress to customers for force-fitting devices in homes includes £20m penalty and £70m of debt write-offs

The Guardian - UK

British Gas agrees £20m payout and compensation for prepayment meter failures

The energy supplier will compensate customers who were affected in 2018-21 and write off up to £70 million of energy debt for vulnerable customers.

Evening Standard

British Gas agrees £70m energy debt payoff and compensation over prepayment meter scandal

The energy supplier has agreed to compensate customers who were affected between 2018 and 2021

The Independent UK

Labour MPs massively out of step with public on cost of living, survey reveals

Exclusive: Cost of living is the nation’s top concern, government warned

The Independent UK

Households fork out £3,400 more for bills in five years due to war impact on energy prices

Ofgem will announce on 27 May the price cap for the three months covering 1 July to 30 September

The Independent UK

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The Independent UK

Energy bosses face bonus ban under tough new regulator powers

IN FULL

The Independent UK

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

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

Evening Standard

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.

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Evening Standard

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.

The Independent UK

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 Guardian - 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

Evening Standard

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.

The Guardian - UK

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

Evening Standard

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

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