The energy price cap is to be a hiked by a record 80% from October to £3,549 a year, Ofgem has confirmed this morning.
As the rising cost of living crisis worsens and continues to make its impact felt nationwide, and after inflation hit another new 40-year UK high of 10.1% earlier this month, millions of households across the UK on a typical default tariff are set pay an extra £1,578 on their energy bills in as the price cap is raised from 1 October 2022.
It follows an already 54% increase in April, which saw average bills surge to £1,971 a year, and comes ahead of the predicted tripling of average bills in April 2023.
Around 24 million UK households are expected to be affected by the price spike.
The new price cap level is based on “a transparent methodology and calculations” by energy price regulator Ofgem.
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The price cap puts a maximum per unit price on energy that reflects what it costs to buy energy on the wholesale market and supply it to our homes, and it also sets a strict and modest profit rate that suppliers can make from domestic energy sales – but, unlike energy producers and extractors, most domestic suppliers are currently not making a profit, according to Ofgem.
Ofgem says the price cap increase reflects the “continued rise in global wholesale gas prices” – which began surging post-lockdown and have been driven to record levels by Russia slowly switching off gas supplies to Europe.
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The confirmed energy price cap rise also comes as Ofgem’s CEO warns of the hardship energy prices will cause this winter and urges the incoming Prime Minister and new cabinet to provide “an additional and urgent response” to continued surging energy prices.
“We know the massive impact this price cap increase will have on households across Britain and the difficult decisions consumers will now have to make,” said Jonathan Brearley – CEO of Ofgem.
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“I talk to customers regularly and I know that today’s news will be very worrying for many.
“The price of energy has reached record levels driven by an aggressive economic act by the Russian state. They have slowly and deliberately turned off the gas supplies to Europe causing harm to our households, businesses and wider economy [and] Ofgem has no choice but to reflect these cost increases in the price cap.
“The government support package is delivering help right now, but it’s clear the new Prime Minister will need to act further to tackle the impact of the price rises that are coming in October and next year.
“We are working with ministers, consumer groups and industry on a set of options for the incoming Prime Minister that will require urgent action [but] the response will need to match the scale of the crisis we have before us.
“With the right support in place and with regulator, government, industry and consumers working together, we can find a way through this.”
Council calls on public to suggest names for new public square in Stretford
Emily Sergeant
The Greater Manchester public is being called on to help name a brand-new public square in the heart of Stretford.
Could we have another ‘Boaty McBoatface’ on our hands? As far as public naming competitions go, the comical suggestion for the name of a new RMS ship back in 2016 – which was then given to a fleet of autonomous underwater vehicles (AUVs) instead – will probably always lead the way as the most well-known entrant.
But now, it’s Greater Manchester‘s turn to give it a go and get creative with their naming suggestions, as Trafford Council inviting the local community to name a brand-new public square that’s set to open in the heart of Stretford next year.
Connecting the newly restored King Street and Pinnington Lane, Trafford Council says the new public square will play “a key part in the transformation of the area” and be a “focal point” for the area – with lots of greenery, seating areas, and spaces to “meet, rest and play” and host events too.
Residents are being encouraged to “put their imprint on the Square” by putting forward their suggestions for its name.
All the entries will be condensed into a shortlist and the public will then vote on their favourite.
With the naming competition fully underway, Trafford residents now have the opportunity to talk to the Stretford town centre team, get creative, and post entries into the voting box that’ll be in place in Stretford Mall up until Sunday 19 May, as well as submit their ideas via the Stretford town centre website.
To come up with their names suggestions, the Council wants residents to take inspiration from these three themes:
Heritage – celebrating the fascinating history embedded into Stretford’s identity
Culture – showcasing the rich and vibrant cultural tapestry that defines the essence of the town and its residents
Community – reflecting the strong sense of unity among Stretford’s residents, making the town a welcoming place to live, work, and socialise.
After submissions are closed, the Stretford town centre forum will then decide on three entries that “best represent the area” and have made best use of the inspiration topics to go to the public vote for the final decision.
A town centre polling station will be open for residents to cast their votes in person, or they can do so online via both a Google form or a range of social media polls.
The public vote will officially close on Sunday 16 June, and the unveiling ceremony will take place at The StretFest on Saturday 6 July, where the winner and name of the new public square will be announced.
Fancy shooting a suggestion then? Find out more on the Stretford Town Centre website here.
Featured Image – STC / Bruntwood
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Manchester-born Lord of the Rings and Titanic actor Bernard Hill dies aged 79
Danny Jones
Manchester actor, best known for roles in Lord of the Rings, Titanic, Shirley Valentine and more, has sadly died at the age of 79.
Born in Blackley near the River Irk, historically part of Lancashire, the familiar British face who often popped up in Hollywood too famously played Théoden, the King of Rohan, in the original trilogy of fantasy films as well as Captain Edward Smith in Titanic.
His death was announced by his agent Lou Coulson via the BBC, who confirmed that he passed away in the early hours of Sunday morning.
A statement from his family is expected soon and tributes are already pouring in online.
Hill studied at what is now the Manchester School of Theatre, formerly known as the Polytechnic School of Theatre and also went on to appear in the much-loved BBC drama by Alan Bleasdale, Boys from the Blackstuff, back in 1982.
Playing the character of Yosser Hughes – best-known for the line “gizza a job” – the show went on to be awarded a BAFTA for best drama series in 1983 and was ranked as the seventh best TV show ever made on a 2000 round-up by the British Film Institute
He was also due for a big return to TV screens in series two of another BBC hit, The Responder starring Martin Freeman, which begins airing at 9pm this Sunday.