Blog

The cost of energy on the market has been falling for months - but many customers are yet to benefitMany households will have received a letter informing them their gas and electric bills are going up in April. But why are energy bills still going up at a time when wholesale prices have gone down?In fact, both wholesale gas and electricity prices have fallen steadily since December 2022, but that drop has seemingly not been carried over into energy bills. The price cap set by regulator Ofgem, wh …

KEY POINTS The U.K. has limits on how much suppliers are able to charge consumers for energy.Britain’s energy price caps are reviewed by the government’s regulator, Ofgem, every six months.Ofgem, the energy sector regulator, said on Thursday that its price cap would be raised by 54%, marking a record-breaking increase.LONDON — Energy bills are set to rise drastically in the U.K. after the country’s energy regulator announced its cap on prices would rise by over 50% in April.The U.K. has limits …

The threat of a Russian invasion of Ukraine is shaking up a fragile global oil market, pushing prices closer to $100 a barrel as traders calculate that supplies will struggle to cushion the effect from any significant disruption in Russian fossil fuel exports.Demand for oil has outpaced production growth as economies slowly rebound from the worst of the pandemic, leaving the market with a small buffer to mitigate an oil-supply shock. Russia is the world’s third-largest oil producer, and if a con …