The Default Tariff Cap is now predicted to stay above £3,000 a year for the next 15 months, according to the most recent forecast from Cornwall Insight. Continued market volatility amid concerns over the security of gas going into winter, in particular following the Russian invasion of Ukraine, have led to further jumps in price cap
Ofgem has announced today (26 August) it will increase the energy price cap to £3,549 per year for dual fuel for an average household once in effect from 1 October 2022. The increase reflects growing concerns around the global wholesale gas market with prices expected to surge in the winter months. High wholesale prices
No single crisis, no matter how existential, will be enough to shut this machine down naturally. We must break it or it will break us It is useful to think of capitalism as a robotic savant, spectacularly gifted at doing one thing and cripplingly blind to everything else. Global capitalism is an incredible machine for
Scientists say there are ample reasons to suspect global heating could lead to catastrophe The risk of global societal collapse or human extinction has been “dangerously underexplored”, climate scientists have warned in an analysis. They call such a catastrophe the “climate endgame”. Though it had a small chance of occurring, given the uncertainties in future
With a dramatic timing worthy of The West Wing, Senator Joe Manchin has delivered an 11th hour deal that comes as a much-needed shot in the arm for the global climate fight. Mr Manchin, a centrist Democrat from coal-heavy West Virginia, announced the pointedly-titled “Inflation Reduction Act” with Senate Majority Leader Chuck Schumer on Wednesday.
THE MET OFFICE has issued a warning over the impact of extreme weather events on the UK, claiming 500,000 homes are at direct risk of the effects of climate change. A new report by the national weather service shows higher temperatures are the new normal and sea levels are rising much faster than a century ago. This,
The economic impacts of Russia’s invasion of Ukraine are being felt around the world. This is especially true in the energy and food markets whose supply chains depend on both countries. The crisis has reinvigorated a long-running debate about land use for solar farms, increasingly polarised around energy versus food security. Gas provides 40%
The power network's electricity system operator (ESO) said it expects supply to be tight at times this winter, most likely in the first half of December. The UK could face "very high prices" with experts warning household bills could rise to £3,850 this winter due to electricity supply shortages - but the lights will
Ofgem has proved “incompetent as the regulatory authority” according to a new report from the Department of Business, Energy and Industrial Strategy (BEIS) select committee. The Energy pricing and the future of the Energy Market report finds that suppliers were allowed to enter the market without access to sufficient capital or acceptable business plans, and were run
How will transport, cities and health services cope with the climate crisis? With 10 major incidents declared by fire services across the UK on Tuesday, infrastructure failures, and excess deaths over the heatwave estimated at about 1,000, the immediate impact of record 40C temperatures was severe enough in its own right. But for many people,