Ofgem has proposed new plans to adjust the energy price cap every three months instead of the current twice a year.
The energy price cap – which is the mechanism that outlines the maximum amount that companies can charge to provide energy – has been credited with protecting around 22 million UK households from the worst of the price hikes after COVID-19 restrictions were eased and the war in Ukraine pushed up wholesale gas prices.
The cap prevented companies from passing on unprecedented increases to their customers.
According to the government, the cap was said to have delayed the impact from the most damaging element of the ongoing cost of living crisis, after the average bill rose by 54%, or £693 annually, from April to £1,971, and the latest forecasts suggest bills could rise to almost £2,600 in October when the next price cap adjustment is due.
But now, industry regulator Ofgem revealed in a statement today that it was putting the idea of more regular adjustments of the cap out to consultation.
This proposed plan is said to have come after there was criticism expressed that the present twice-yearly adjustment arrangement had contributed to the collapse of several suppliers last year at the height of the wholesale gas price shock, Jonathan Brearley, chief executive of Ofgem, said adjusting the cap more regularly would “reflect the most accurate energy prices”.
He also said it means that when costs fall from the current record highs, customers would “see the benefit much sooner”.
After extensive research, stakeholder feedback & talking with consumers, we're proposing to update the price cap every 3 months rather than every 6 months
This would make suppliers more resilient & any savings can be passed on to consumers quicker
Ofgem said in a statement: “Our top priority is to protect consumers by ensuring a fair and resilient energy market that works for everyone.
“Our retail reforms will ensure that consumers are paying a fair price for their energy while ensuring resilience across the sector [and] today’s proposed change would mean the price cap is more reflective of current market prices and any price falls would be delivered more quickly to consumers.
“It would also help energy suppliers better predict how much energy they need to purchase for their customers, reducing the risk of further supplier failures, which ultimately pushes up costs for consumers.”
In response to the Ofgem statement issued on the price cap, a government spokesman said: “We recognise the pressures people are facing with the cost of living, which is why we have set out a £22 billion package of support, including rebates and reductions for energy bills, as well as more targeted support for low income and vulnerable households.
“The price cap continues to insulate households from even higher global gas prices [and] that’s why we have also outlined plans to extend the cap beyond 2023.”
Featured Image – RawPixel
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‘Dazzling’ Victorian silver sculpture goes on public display in Greater Manchester after fears it was lost
Emily Sergeant
A long-lost masterpiece of Victorian silverwork has been saved and is now on display to the public in Greater Manchester.
Anyone taking a trip over to the National Trust’s historic Dunham Massey property, on the border of Greater Manchester into Cheshire, this summer will get to see the ‘dazzling’ sculpture called Stags in Bradgate Park – which was commissioned by a former owner in a defiant gesture to the society that shunned him.
The dramatic sculpture of two rutting Red Deer stags, commissioned in 1855 by George Harry Grey, 7th Earl of Stamford, was said to be an ‘act of love and rebellion’.
It also serves as a symbol of ‘locking horns’ with the society that ostracised him over his marriage to a woman considered ‘beneath him’.
“This isn’t just silver – it’s a story,” says James Rothwell, who is the National Trust‘s curator for decorative arts.
“A story of a man who fell in love with a woman that society deemed unworthy. When the Earl married Catherine Cox, whose colourful past was said to have included performing in a circus, Victorian high society was scandalised. Even Queen Victoria shunned the couple at the opera and local gentry at the horse races in Cheshire turned their backs on them.”
Modelled by Alfred Brown and crafted by royal goldsmiths Hunt & Roskell, Stags in Bradgate Park is a meticulously-detailed depiction of nature, and was considered a ‘sensation’ in its day.
Showing the rutting deer positioned on a rocky outcrop with gnarled hollow oaks, it graced the pages of the Illustrated London News, was exhibited at the London International Exhibition of 1862, and at the Paris Exposition Universelle of 1867 – both of which were events that drew millions of visitors.
A ‘dazzling’ Victorian silver sculpture has gone on public display in Greater Manchester / Credit: Joe Wainwright | James Dobson (via Supplied)
The silver centrepiece was the celebrity art of its time, paraded through streets and admired by the public like no other.
Gradually over the years, some of the Earl of Stamford’s silver collection has been re-acquired for Dunham Massey, and this particular world-renowned sculpture, thought to be lost for decades and feared to have been melted down, has miraculously survived with its ‘dramatic’ central component being all that is left.
“The sculpture is not only a technical marvel, with its lifelike depiction of Bradgate Park’s rugged landscape and wildlife, but also a dramatic human story key to the history of Dunham Massey,” added Emma Campagnaro, who is the Property Curator at Dunham Massey.
“It speaks of nature, of craftsmanship, and of a couple who chose each other over status and what others thought of them.”
The sculpture has now gone on display at Dunham Massey from Thursday 26 June.
Featured Image – James Dobson (via Supplied)
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Lewis Capaldi announces MASSIVE comeback gig in Manchester this year
Thomas Melia
Everyone’s favourite Scottish ballad-maker, Lewis Capaldi, is heading out on tour across the UK, including a massive Manchester date.
Scottish singer-songwriter Lewis Capaldi is ready to tug at our heartstrings again right in front of our eyes as he announces a new UK arena tour.
This huge announcement comes right after his surprise set at the UK’s biggest music event of the year, Glastonbury, where he made a heroic return to the Pyramid Stage just two years after being forced to pull out.
Capaldi is known for writing some of the most notable and emotive hits of the late 2010s and early 2020s, including a long list of anthems such as ‘Someone You Loved’, ‘Bruises’ and ‘Before You Go’.
His monster of a hit ‘Someone You Loved’ has surpassed 3.9 billion views and is the UK’s most-streamed song of all time, so it is safe to say that his presence has been well and truly missed.
To many fans’ delight, the singer has stepped back into the spotlight and is ready to sing his heart out live at a variety of arenas across the UK, including Co-op Live right here in Manchester.
Now, in a post on his official Instagram account announcing this upcoming UK and Ireland arena tour, it’s good to see the Scottish powerhouse hasn’t lost his wit and charm as he jokes, “About time I got back to work.”
These shows are set to be in high demand as the singer has also revealed these upcoming dates, “Will be my only shows in the UK, Ireland or Europe this year! Would love to see ya there.”
On the back of his glorious Glasto return, Capaldi has dropped a huge heart-wrencher titled ‘Survive’ which offers more insight into the struggles and challenges the singer has been facing.
There is no confirmation of whether this new single marks the launch of a bigger project or not, but we can’t wait to scream his hits at the top of our lungs, regardless of when he pays Manchester a visit later this year.
The Manc -
16th May 2022 
