Skip to content
Search

Latest Stories

UK faces lower energy bills as inflation eases

The invasion of Ukraine by key oil and gas producer Russia in February 2022 had a profound impact on energy prices and contributed to a surge in inflation

UK faces lower energy bills as inflation eases

UK regulators took action to reduce the cap on domestic energy bills on Thursday (25), aiming to alleviate the cost-of-living challenges faced by consumers.

This decision came shortly after data revealed a slowdown in heightened inflation.


Ofgem, the regulatory body, announced that starting from July, the maximum amount suppliers can charge an average household would be £2,074 ($2,564).

The reduction was attributed to the recent decline in wholesale energy prices.

Previously, the cap stood at £3,280, but the government had implemented subsidies to restrict the typical bill to £2,500, aiming to protect consumers from the impact on their living standards.

The invasion of Ukraine by key oil and gas producer Russia in February 2022 had a profound impact on energy prices and contributed to a surge in inflation. As a result, governments were compelled to take swift measures to stabilise energy supplies and provide subsidies for domestic bills.

However, in recent months, energy prices have experienced a sharp decline. This can be attributed to several factors, including warmer weather conditions in Europe and a reduced dependence on Russian oil and gas by various nations.

"Today's update means that, for the first time since the global gas crisis took hold more than 18 months ago, prices are falling for customers on default tariffs," the energy watchdog added in a statement.

The recent development announced on Thursday signifies that taxpayers will no longer need to subsidise energy bills, as the newly set cap is lower than the energy price guarantee proposed by Prime Minister Rishi Sunak.

However, Ofgem has issued a warning that numerous households may still face difficulties in paying their energy bills, as the prices remain elevated compared to the pre-incident period when Moscow initiated its attack on Ukraine.

According to official data released on Wednesday, the annual inflation rate in the UK reached a 13-month low in April but still remains high at 8.7 percent due to the significant rise in food prices, which offset the decrease in energy costs.

This rate represents a slowdown from March when it stood at 10.1 percent, marking the first time since August of the previous year that the rate has fallen below double digits.

Ofgem chief executive Jonathan Brearley said Thursday it was "encouraging" to see the energy market stabilising and prices moving downwards after a "difficult" winter.

"People should start seeing cheaper energy bills from the start of July, and that is a welcome step towards lower costs," he said.

"However, we know people are still finding it hard, the cost-of-living crisis continues and these bills will still be troubling many people up and down the country."

People facing difficulties are being encouraged by the regulator to utilise available support measures, which include options such as payment plans and hardship funds.

(AFP)

More For You

Jonas Brothers

From Camp Rock to global tours — the Jonas Brothers’ two-decade glow-up is unmatched

Getty Images

The Jonas Brothers turn 20: The band that soundtracked a whole generation

What were you doing in 2005? Because somewhere in New Jersey, three boys with matching outfits, side-swept fringes, and more ambition than stage time were getting ready to take over the world. Fast forward 20 years, and the Jonas Brothers, Nick, Joe, and Kevin aren’t just a band. They’re a time capsule, a comeback story, and proof that growing up doesn’t mean fading out.

As they hit the big 2-0, we’re not just celebrating songs. We’re talking glow-ups, heartbreaks, breakups, makeups, and a tour that’s basically a love letter to fans across generations. Buckle up, nostalgia is coming in hot.

Keep ReadingShow less
UK retailers

For many retailers, this has meant closing stores, cutting jobs, and focusing on more profitable business segments

Getty

6 UK retailers facing major store closures in 2025

In 2025, several UK retailers are experiencing major store closures as they struggle to navigate financial pressures, rising operational costs, and changing consumer behaviours. These closures reflect the ongoing challenges faced by traditional brick-and-mortar stores in an increasingly digital world. While some closures are part of larger restructuring efforts, others have been driven by financial instability or market shifts that have forced retailers to rethink their business strategies. Let’s take a closer look at six major UK retailers affected by these trends.

1. Morrisons

Morrisons, one of the UK's largest supermarket chains, is undergoing a significant restructuring in 2025. The company has announced the closure of several in-store services, including 52 cafés, 18 Market Kitchens, 17 convenience stores, and various other departments. This move is part of a larger strategy to streamline operations and address rising costs. Morrisons’ parent company, CD&R, has been focusing on reducing overheads and refocusing on core services.

Keep ReadingShow less
Modi arrives in Saudi Arabia to strengthen strategic ties

Prime minister Narendra Modi during his visit to Saudi Arabia on Tuesday (22)

Modi arrives in Saudi Arabia to strengthen strategic ties

INDIA’S prime minister Narendra Modi arrived in Saudi Arabia’s Jeddah on Tuesday (22) for his third visit as prime minister to the oil-rich Gulf kingdom.

The trip came a day after Modi held talks with US vice-president JD Vance in India, with New Delhi looking to seal a trade deal with Washington and stave off punishing tariffs.

Keep ReadingShow less
Veterans urge nation to 'unite and remember' in VE Day letter

Samina Mahroof, a cutter at the JW Plant Flag Company works on flag orders ahead of the VE Day 80th anniversary on March 18, 2025 in Leeds, England. (Photo by Ian Forsyth/Getty Images)

Veterans urge nation to 'unite and remember' in VE Day letter

TEN surviving Second World War veterans, including three from the British Indian Army, have written an open letter urging people across the UK to come together and remember the sacrifices made during the war.

Launched on Wednesday (23) by the /Together Coalition, the letter is part of a wider campaign marking the 80th anniversary of Victory in Europe (VE) Day, which falls on May 5.

Keep ReadingShow less
Shamik Chakrabarti

Shamik Chakrabarti stand up comedy in london

Indian comic Shamik debuts at Soho!

Rising Indian stand-up comedian Shamik Chakrabarti is all set to make his much-anticipated international debut in London with his solo show "Despite Appearances", running from Friday, April 25 to Saturday, May 3 at the Soho Theatre, located at 21 Dean Street, W1D 3NE.

Known for his dry wit and laid-back style, Chakrabarti brings a unique voice to the global comedy circuit, blending sharp observational humour with understated rants that dissect the absurdities of everyday life.

Keep ReadingShow less