Ofgem has slashed the price cap on energy bills to £1,923 after wholesale energy prices fell further, it announced on Friday.
Australia passed a law to cap domestic prices of natural gas to limit the impact of soaring global costs on local power bills, ignoring protests from the nation’s powerful energy exporters.
The European Union agreed to put a price cap on Russian oil at $60 a barrel, paving the way for a wider Group of Seven deal.
With just days remaining until the European Union imposes a price cap on Russian oil, much uncertainty remains.
The European Union is closing in on a deal to cap the price of Russian crude oil at $60 a barrel, their latest attempt to clinch an agreement before a Monday deadline, according to people familiar with the matter.
Australia’s government is considering action including a possible cap on the price gas producers can sell into the domestic market amid efforts to tame surging energy costs.
‘Six million miles away from Just Transition’: Shell CEO pay surges to 57x more than average employee
Shell CEO Ben van Beurden has taken home a whopping £6.1 million pay package following an “impressive financial performance for the oil giant”.
Electricite de France plunged by a record as the French government confirmed plans to force it to sell more power at a steep discount to protect households from surging wholesale electricity prices.
Ofgem has said it will slash bills for around 15 million households by as much as £95 as the regulator reduced its cap on energy bills to their lowest level yet.
Moneysupermarket found comfort in its energy division in the last three months as fears that Ofgem’s new price cap would make customers less likely to change energy supplier, proved false.
Households across the country have seen a combined £1.2 billion added to energy bills thanks to 42 price rises in the six months since the Government's flagship price cap was supposed to end rip-off bills, new research has found.
Around 15 million households will see their energy prices rise after regulator Ofgem hiked price caps designed to protect those on poor value deals.
An energy bill price cap has moved a step closer after legislation seeking to end "abuse" against customers cleared the Commons.
London's leading shares index made solid gains today as euphoria from a positive US jobs report and optimism around the future of the euro boosted investor confidence.