Energy Bills Set to Jump £73 in January Despite Recent Cuts
UK households face a fresh energy shock as bills are forecast to rise by £73 come January. Consultancy Cornwall Insight warns the average annual energy bill could hit £1,996, right under Ofgem’s official price cap.
The price cap limits how much suppliers can charge per unit of energy, but rising wholesale costs are driving the squeeze, Cornwall analysts reveal. This hike follows a brief relief period from October, where bills dropped from £2,074 to £1,923 for a typical dual-fuel home.
However, despite the short-lived cut, government support that helped ease bills last year has been withdrawn. Energy costs remain stubbornly higher than in 2021, hitting household budgets hard.
US Auto Strike Expands As 7,000 More Join Walkout
The US auto industry is in turmoil as the United Auto Workers union ramps up strikes at Ford, General Motors, and others. Union chief Shawn Fain confirmed an extra 7,000 workers will join the action, dragging the dispute into its third week.
The strike, targeting pay and benefits, now involves roughly 18,000 employees and threatens to send shockwaves through the US economy. Even US presidents Joe Biden and Donald Trump have weighed in on the escalating crisis.
UK PM Eyes Winter Fuel Allowance Cuts to Protect Pension Triple Lock
Back home, Prime Minister Rishi Sunak is reportedly mulling slashing the winter fuel allowance for all but the poorest pensioners. The move aims to offset the ballooning costs of maintaining the pension triple lock, a precious pledge ahead of elections.
According to Sky News, Sunak understands the triple lock’s political importance but is seeking ways to manage its heavy price tag. The winter fuel allowance could be scrapped for most, staying only for pensioners on pension credit under current discussions.
