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.
ADVERTISEMENT
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.
ADVERTISEMENT
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.
ADVERTISEMENT
“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
Full list of road closures set to be in place for Manchester Day 2024
Emily Sergeant
Manchester Day is back for 2024 this weekend, and the full list of road closures set to be in place has been confirmed.
Now that schools are officially out across Greater Manchester, and the summer holidays are well and truly here, the hugely-popular Manchester Day is making a return once again this Saturday 27 July, and as always, it’s set to be “the day summer officially starts” in the city centre – with a massive celebration of “all things Mancunian” on the cards.
The theme of this year’s annual event is ‘Let The Games Begin’, and it’s inspired by the international summer of sport, just 2024 Olympics kicks off over in Paris.
The day will be packed full of free events and activities to get involved with.
Some city centre roads will be closed on Friday 26 and Saturday 27 July for Manchester Day.
These will include:
🛣️Deansgate 🛣️St Ann Street 🛣️St Mary’s Gate 🛣️Market Street 🛣️King Street
— Manchester City Council (@ManCityCouncil) July 21, 2024
But of course, in order for the all the fun to go ahead as safely as possible, and as tends to be the case for events like these, Manchester City Council says it will need to make some temporary road closures to facilitate it.
The full list of road closures has now been confirmed by the Council, and there’s some major city centre thoroughfares set to be out of action.
Here’s everything you need to know.
Manchester Day is back for 2024 to celebrate the international summer of sport / Credit: Manchester City Council
Manchester Day 2024 – Road Closures
Saturday 27 July
From 6am to 11:59pm, Manchester City Council has confirmed that the following roads will be closed:
Deansgate (Manchester Cathedral to John Dalton Street) – access will be maintained to Marks and Spencer’s car park and Number One Deansgate.
St Ann Street (Deansgate to Cross Street)
St Mary’s Gate (Exchange Street to Deansgate)
St Mary’s Street (Southbridge Street to Deansgate)
Market Street (Exchange Street to Cross Street)
Fennel Street (Corporation Street to Cathedral Street) – access will be maintained for morning deliveries only.
Cathedral Street (Fennel Street to Exchange Square) – access will be maintained for morning deliveries only.
Cateaton Street (Exchange Square to Deansgate)
Barton Square (St Ann’s Square to St Ann Street)
King Street (Cross Street to Deansgate) – no access for deliveries.
All accessible bays, bus lanes, and taxi ranks within the closed areas will also be suspended during from 6pm on Friday 26 July to 11:59pm on Saturday 27 July.
The parking suspensions set to be in place are:
Deansgate (Manchester Cathedral to John Dalton Street)
St Ann Street – including the bays outside St Ann’s Church (Deansgate to Cross Street)
St Mary’s Gate (Exchange Street to Deansgate)
St Mary’s Street (Southbridge Street to Deansgate)
Southgate (St Mary’s Street to King Street West)
Market Street (Exchange Street to Cross Street)
Fennel Street (Corporation Street to Cathedral Street) – access will be maintained for morning deliveries only.
Cathedral Street (Fennel Street to Exchange Square) – access will be maintained for morning deliveries only.
Cateaton Street (Exchange Square to Deansgate)
Victoria Street (Cathedral Approach to Deansgate)
Todd Street (Corporation Street to Station Approach)
King Street (Spring Gardens to Southgate)
South King Street (Ridgefield to Deansgate)
Barton Square (St Ann’s Square to St Ann Street)
King Street West (Deansgate to St Mary’s Parsonage)
St James’s Square (John Dalton Street to South King Street)
Cross Street (King Street to Corporation Street)
Museum Street (Peter Street to Windmill Street)
Marsden Street (Cheapside to Brown Street)
Manchester Day 2024: Let The Games Begin! will take over the city centre on Saturday 27 July from 12pm-6pm.
Check out everything you need to know ahead of the event here.
‘Complex’ Metrolink repairs to the Rochdale via Oldham line could take weeks to complete
Emily Sergeant
Work currently underway on the Rochdale via Oldham line is expected to take several weeks to complete.
Transport for Greater Manchester (TfGM) has confirmed that land movement affecting the Metrolink network near Derker has now “slowed”, and this means that detailed ground investigations and temporary repair works have been able to get underway.
In order for trams to run again on the crucial line from the city centre to the two major Greater Manchester towns, TfGM says that a small section of track has to be moved back – also known as ‘slewed’ – into its original position.
The overhead line poles also need to be repaired too, the transport operator revealed.
Rochdale line update
Land movement affecting the Metrolink network near Derker has slowed, enabling detailed ground investigations and temporary repair works to get underway.
To get trams running again, a small section of track has to be moved back into its original position… pic.twitter.com/byERjitdi1
Unfortunately though, due to the “complex” nature of these works, and despite the fact that TfGM says it’s actively looking to “accelerate” the repairs, the project is expected to take up to five weeks to complete in full.
On top of this, the detailed ground investigations will also establish whether any further work to strengthen foundations beneath the track will be needed at a later date.
TfGM has apologised for the inconvenience caused to passengers.
‘Complex’ Metrolink repairs to the Rochdale via Oldham line could take weeks to complete / Credit: TfGM
Speaking on the scale of works currently underway, and how long he expects them to continue for, Pete Sommers, who is TfGM’s Network Director for Metrolink, said: “I’m sorry for the impact this is having, and will continue to have, on people’s journeys.
“We are working to get trams running through the area again, but this remains a complex and challenging issue and it could still be a few weeks before this happens.
“We will of course keep passengers updated, and I’d encourage people to check our social media channels and website for the latest information and advice.”