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”.
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
This Manchester bar is selling PINTS of Bloody Mary and a slice for six quid
Whether it’s downing pints of water before bed, spending all day on the sofa asleep, or a big fat fry-up the morning after, everyone has a favourite hangover cure.
One of ours has to be the Bloody Mary, aka the best ever hair of the dog – a mixture of spicy tomato juice, vodka, lemon, hot sauce and, in a perfect world, something smoky with pickles.
So when we heard that Manchester rock bar Jimmy’s is selling PINTS of the stuff for just six pounds with a big fat slice of focaccia-like Detroit pizza included, we felt compelled to share the good news.
After all, party season is basically upon us – and that means struggling through more hangovers than we can typically endure.
The Ancoats boozer is currently home to Manchester’s original Detroit pizza heroes Corner Slice, a long time favourite in The Manc office from day one.
The team also has a pizza shop in Failsworth, but for the next month (well, until 23 December), they’re slinging their signature slices out of the kitchen at Jimmy’s to help you soak up the booze.
The deal, which is available every day, includes a pint of Bloody Mary and a square slice of their thick deep-pan Red Top pizza: a mixture of red sauce, Corner Slice’s signature cheese blend and basil pesto.
Available every day of the week, from open until the kitchen closes, you can opt to enjoy your pint of Bloody Mary and pizza in the bar or get it to take away if you’d rather curl up on the sofa with some grease and your favourite TV show.
The brainchild of owners Frank Brashaw and Danny Broadbent, Corner Slice has made a well-deserved name for itself in Manchester thanks to serving up deep pan pizza with traditional Italian toppings and a curly cheese crust.
The popular Failsworth-originated pizzeria was the first to bring its Motor city-inspired rectangular pizza pies to Manchester after what it said was a “light bulb” moment during lockdown.
As well as the simple ‘Red Top’, some of Corner Slice’s best-loved dishes include square pies loaded with the likes of Korean Cauli, Portocini (a mix of portobello and porcini), and a number of regularly-changing specials and vegan specials.
Feature image – The Manc Eats
FIFA allow rainbow flags and bucket hats in World Cup U-turn
In a surprising U-turn by FIFA, the international governing body has instructed Qatar to allow rainbow flags and bucket hats to be taken into their stadiums.
It remains unclear whether this reversal will extend to players wearing the armband, though it still seems unlikely at this stage.
Nevertheless, we’re happy to see the pride flags and rainbow colours signifying solidarity with the LGBTIA+ community making an appearance in the Middle East.
Wales were the first nation to get the rainbow colours on show ahead of their 2-0 defeat to Iran on Friday morning, installing pride corner flags with the team badge superimposed around their training camp.
The Dragons explained that, like other teams, they could not risk ignoring FIFA‘s ruling on the One Love armband through fear and lack of clarity over whatever the subsequent sanctions would be, but are now clearly trying to send a message where they can.
The German national team also made their feelings known in what has now become an iconic sporting photo, portraying how allies have been “silenced” by the Gulf state.
We can only hope England make the most of their opportunity to take a similar stand and show their support for the LGBTQIA+ community, women’s rights and the migrant workers who suffered to make this beyond questionable World Cup happen.
Although we should have been focusing on nothing other than football, the 2022 World Cup has been dominated by off-pitch controversies.
As well as Qatar‘s tough stance on alcohol — banning beer just 48 hours before the first game — the suppression of rights, media, freedom of expression and the human rights abuses committed against those who toiled to build the stadiums have all cast a shadow over the tournament.
Three Lions boss Gareth Southgate insisted that despite the travesty of the One Love armband decision, the team remain positive and “know what [they] stand for.
He also would not rule out sending a message in another way, reassuring reporters that despite having to accept the decision, “That’s not to say we won’t do anything moving forward if the timing’s right, but I think we are rushing to be seen to be doing something, we could make an error that doesn’t land well.”
Either way, at least fans now have a way of demonstrating their support by putting their rainbow flags and bucket hats on the world stage.
Once again, it’s not up for debate: football is a game for everyone.