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.
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.
📣The energy #PriceCap is changing and this could affect you
Record high global gas prices mean on Saturday 1 October the energy price cap will rise to an average of £3549 per year
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.
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.
“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.
Ofgem raises energy price cap to £3,549 from October / Credit: Pxhere
“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.”
New data reveals a third of Brits admit to secretly sneaking off work early on a Friday
Emily Sergeant
Surprising new data has revealed that a third of Brits admits to secretly sneaking off work early on a Friday.
After a long and tiring week, most of us would love the chance to clock off work a little earlier than usual on a Friday, but for a lot of workers, this isn’t always a possibility – and for some, they even have to work longer at the end of the week to make sure everything has been finished off and tied up before the weekend arrives.
But since there has been a noticeable rise in remote working and working from home, a new survey has revealed that working attitudes have changed.
Virgin Media has released new broadband data that reveals a drop in traffic on Friday afternoons during the summer months – with as much as an 8% dip between 3-5pm compared to the winter, as remote workers clock off early.
A third of Brits admit to secretly sneaking off work early on a Friday / Credit: Glenn Carstens-Peters | Robin Worrall (via Unsplash)
The Friday traffic drop-off comes from Virgin Media’s broadband network analysis, which it says is a ‘reliable indicator’ of the connectivity habits of the British public.
Alongside the network data, Virgin Media also asked Brits about their work policies and working habits ij a bid to fully understand the trend.
Nearly a third (30%) of Brits say they have a formal early Friday finish in place during the summer, but despite almost half of UK adults (48%) saying they’re not authorised to finish early on a Friday, 32% have admitted to regularly logging off with or without official permission.
Surprising new data has revealed Brits’ working habits / Credit: Chuttersnap (via Unsplash)
Many Brits have also confessed to working ‘on the move’ on a Friday afternoon too.
15% admitted to having worked from the train station as the weekend creeps nearer, as well as 14% from the park, 10% from the pub, and many as 30% of 18-24-year-olds worked from the car while travelling for the weekend.
“Our network traffic analysis is revealing changing workplace habits in real time as the nation takes advantage of long summer Fridays,” commented Jeanie York, who is the Chief Technology Officer at Virgin Media O2.
“We’re continuing to boost our fixed and mobile networks so whether Brits are working from their local park, or finishing their work at home, we’re ready to keep them connected.”
Featured Image – Israel Andrade (via Unsplash)
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Tiny Manchester pub brilliantly condemns ‘alarming rise’ in hate speech
Daisy Jackson
A micropub in Manchester city centre has spoken out about an ‘alarming rise’ in hate speech.
The Victoria Tap, a tiny little boozer at Manchester Victoria train station, strongly condemned any racist, homophobic or sexist conversations taking place in its venue.
The pub said ‘there is absolutely no room for it’ within its walls.
In a statement – which has been met with praise from customers and followers – they added that anyone bringing hate speech to the pub ‘can let the door kick you on the way out’.
The Victoria Tap wrote: “We’ve noticed an alarming rise in racist, homophobic and sexist slurs/comments/conversations lately and we just want to say that there is absolutely no room for it here.
“This is a safe space for everyone.
“If you, or someone in your group, want to disturb this philosophy, you can let the door kick you on the way out.”
The Victoria Tap has brilliantly condemned ‘alarming rise’ in hate speech
Praising their statement, one person wrote: “Great to read this. There is NO place for this. All public spaces should be welcoming.”
Another said: “Pubs should be welcoming environments for people of all walks of life. There’s no room for misogyny, racism or discrimination of any kind. Those who espouse those thoughts need a good hard look in the mirror.”
Someone else commented: “That’s how I see the Vic Tap. Great place for a safe quiet pint. Keep up the great work guys as it’s a fantastic venue.”
The Victoria Tap opened at Manchester Victoria back in 2023, completely transforming a space that was previously a bin store.
As well as its cosy interior, it has a small beer garden which overlooks the tram tracks in and out of the train station.
It’s operated by the same team behind the Piccadilly Tap and the even newer Oxford Tap.
We know exactly where we’ll be heading for our next pint now. Good work, Victoria Tap.
Emily Sergeant -
26th August 2022 
