Energy bills forecast to rise by £85 a year
Published On Feb 18, 2025, 7:40 AM
Domestic energy prices are projected to rise by 5% starting in April, which will increase the average household energy bill by £85, according to Cornwall Insight. This will bring annual energy costs for a typical household to £1,823, coinciding with similar increases in water and council tax bills. The price cap, set by Ofgem, will affect 26 million households on default tariffs, with an official announcement coming on February 25. The rise in energy costs comes amid financial difficulties for households, with many owing significant amounts to energy suppliers.
Stock Forecasts
XLE
Positive
The rise in energy prices will likely lead to increased operational costs for energy companies, potentially affecting their profitability. However, as more households look to lock in fixed tariffs or change providers due to escalating bills, this could stabilize demand for certain utilities. Investors might consider energy companies that perform well during price surges.
Related News
Trump announces energy deal with India after Modi talks
Feb 13, 2025, 6:23 PM
The US president says India will be buying "a lot of our oil and gas" after meeting India's PM.
US producer prices rise slightly above expectations in January
Feb 13, 2025, 8:34 AM
U.S. producer prices increased solidly in January, offering more evidence inflation was picking up again and strengthening financial market views that the Federal Reserve would not be cutting interest rates before the second half of the year. The producer price index for final demand rose 0.4% last month after an upwardly revised 0.5% gain in December, the Labor Department's Bureau of Labor Statistics (BLS) said on Thursday. Economists polled by Reuters had forecast the PPI rising 0.3%.
Why oil and gas could help India blunt Trump's reciprocal tariffs
Feb 13, 2025, 7:56 AM
India Prime Minister Narendra Modi wants to talk about much more than tariffs as he visits the White House today.