Ofgem has today announced that the energy price cap will rise by 5% from January for the first quarter of 2024.
After the energy regulator brought the average annual household energy bill to below £2,000 for the first time since April 2022 with its last announcement back in August for the final quarter of 2023, Ofgem has just announced this morning that the energy price cap will unfortunately be rising once the new year rolls around.
The energy price cap is – which is updated every quarter throughout the year – sets a maximum that can be charged to customers for energy bills.
From 1 January 2024, the price cap will increase by 5% on the previous quarter to 31 March, which means that, for an average household paying by direct debit for dual fuel, this equates to £1,928 and a rise of £94 over the course of a year.
The 5% rise also means the average household could be spending around £7.83 extra on bills a month.
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The quarterly energy Price Cap will change from 1 January 2024.
With the rising cost of living crisis sadly continuing the make its impact felt nationwide, the energy price cap increase is sure to mean thousands of Brits will be facing another difficult winter.
According to Ofgem, today’s price cap increase is driven almost-entirely by rising costs in the international wholesale energy market, and is due to “market instability” and “global events” – particularly the ongoing conflict in Ukraine.
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Ofgem’s announcement of the energy price cap rise comes only a few months after a shocking survey by Which? found that nearly nine in 10 (85%) British households admitted to trying to cut back on their energy usage due to rising bills putting significant financial, physical, and emotional strains on consumers.
The same survey also revealed that 13 million Brits didn’t put their heating on when it got cold last winter, as they claimed they were just “too scared” to do so.
Ofgem announces energy price cap will rise by 5% to £1,928 from January / Credit: Pxhere
Ofgem says its “priority” is to “protect consumers” and “ensure they pay a fair price for their energy” this winter.
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“This is a difficult time for many people, and any increase in bills will be worrying,” Ofgem’s CEO Jonathan Brearley commented on the price cap announcement today, “But this rise is a result of the wholesale cost of gas and electricity rising, which needs to be reflected in the price that we all pay.
“It is important that customers are supported and we have made clear to suppliers that we expect them to identify and offer help to those who are struggling with bills.
The Price Cap sets a limit on the maximum amount suppliers can charge for each unit of gas and electricity you use, including the daily standing charge.
Today we have announced what the price cap will be from 1 January 2024.
“We are also seeing the return of choice to the market, which is a positive sign.
“Customers could benefit from shopping around with a range of tariffs now available offering the security of a fixed rate or a more flexible deal that tracks below the price cap.”
Mr Brearley added that people should “weigh up all the information” and “seek independent advice” from trusted sources, all while consider what’s “most important” for them – whether that’s the lowest price, or the security of a fixed deal.
The next quarterly energy price cap announcement covering April – June 2024 is expected to be made next February, Ofgem has confirmed.
Featured Image – Pxhere
News
Coronation Street and Emmerdale cancel filming after news of cutbacks and reduced schedule
Danny Jones
Coronation Street and Emmerdale production crews are said to have cancelled at least one day of filming this week following news of more cutbacks and a reduced schedule of programming.
The beloved British soaps have been up against it for some time now, with viewing figures and costs struggling at both ends of the spectrum, and the latest development doesn’t spell great news for the cast and crew, not to mention audiences.
According to Digital Spy, regularly scheduled filming was due to take place in Manchester and Leeds on Tuesday, 5 February, with each show shooting roughly six to eight weeks in advance of storylines.
However, following reports of more hits to the industry and the latest steps ITV, specifically, which will see fewer episodes of both Corrie and Emmerdale air each week, film crews are said to have been stood down as they await further updates.
Part of the Coronation Street set over in Salford Quays. (Credit: The Manc Group)
Announcing steps at the start of February, ITV confirmed that Coronation Street and Emmerdale are to see their content cut by an hour a week between them from next year.
While Corrie currently broadcasts three hour-long episodes per week and Emmerdale four half-hour episodes plus one full-hour instalment, the new slate will see both soaps dial back to only air 30-minute episodes, with a so-called ‘soaps power hour’ every both shows at 8pm and 8:30pm.
Put in simplest terms, viewers will have half an hour less of their regular soaps to watch overall each week but with episodes airing at more regular intervals, which the network claims is “viewer-led” and will allow fans to enjoy the shows “in the most digestible way.”
Metro writer Duncan Lindsay has labelled the decision as a tough one to make but something that could ultimately “save” the two long-standing soap operas in the long run.
On the other hand, this obviously means a big chunk of work being lost for those working on sets across the board, with ITV having already taken steps to cut costs ever since the pandemic, and the UK’s viewing public has given mixed reactions, to say the least.
The hour of scripted content saved from the overdue cut to Corrie and Emmerdale should be pumped into a new continuing drama. It’s the only way to justify the loss to the industry.
With an increased focus on streaming and making both shows more accessible, episodes will continue to be released from 7am on ITVX before airing on live telly later that evening.
Responding to the changes, the performing arts union Equity admitted that the steps do cause “further cause for concern”, especially following the cancellation of other soaps like Doctors and Hollyoaks also having recently seen its schedule adjusted.
It remains unclear when the respective cast and crews will return to filming.
What do you make of the cutbacks: will you miss the sum total of 60 minutes being shaved off your Corrie and Emmerdale catch-ups, or do you think it’s a bittersweet step that could help freshen up the format and sustain it for years to come?
Already being described as “the ultimate African safari experience right here in the UK”, some of the lodges will be located at the side of a lake, while others will offer views of a private savannah-style habitat that are home to Northern giraffes.
Bookings officially went live last Wednesday (29 January), and demand was “nothing short of phenomenal”, with the website crashing for a brief period and more than 550 bookings made so far.
But merely moments after this, people began hitting out at the prices for overnight stays.
Those working on the “very special” project say a stay at The Reserve will help to fund Chester Zoo’s global conservation projects.
Chester Zoo has issued a statement after people slammed the ‘totally ridiculous’ prices for safari-style lodges / Credit: Supplied
In the off-season, prices for the lodges start from £375, while one-night stays in summer start from £672.50, and then in peak season, for the more luxurious lodges, prices can go all the way up to £2,486, but it’s worth nothing that this does include guided safari tours and going behind-the-scenes with the giraffes.
“As an international wildlife charity we wholly rely on public funding to carry out our species-saving work,” a Chester Zoo spokesperson said in defence of the pricing.
“The Reserve is the latest way that people may wish to help to directly fund our global conservation projects and make a difference to the future of some amazing, but sadly endangered, species.
“A stay at The Reserve includes so much more than a room for the night.
“Packages include elements such as a range of exclusive behind-the-scenes and animal experiences, breakfast, dinner and out-of-hours access to the zoo, as well as two-day passes and the chance to view wildlife straight from your lodge balcony.”
Find out more and book your stay in the new lodges on the Chester Zoo website here.
Emily Sergeant -
23rd November 2023 
