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The UK government’s decision to means-test winter fuel payments is projected to push 100,000 pensioners into relative poverty by 2026. Critics warn this could lead to increased hardship and even deaths among vulnerable elderly citizens as energy prices rise.
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Starting January 1, 2025, the average UK household will see their energy bills increase to £1,738 annually, marking a £21 rise from the previous cap. This follows a 10% increase in October, raising concerns about affordability during winter months.
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Ofgem has announced a 1.2% increase in the energy price cap, raising the average household bill from £1,717 to £1,738 starting January 1, 2025. This follows a previous increase in October and reflects ongoing volatility in international energy markets.
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As the UK grapples with a persistent cost of living crisis, inflation has dropped to 1.7%, the lowest in over three years. Despite this, many households continue to struggle with rising costs, prompting the Labour government to prepare for a challenging budget aimed at addressing economic instability. Key financial support measures are set for November.
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Ofgem has approved the Eastern Green Link 1 project, a £2 billion subsea and underground cable connecting Scotland and England. This initiative aims to enhance energy security, reduce consumer bills, and support the UK's green energy targets by transporting wind-generated electricity.
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As of November 21, 2024, the UK faces severe winter weather, prompting the activation of cold weather payments for eligible households. The Department for Work and Pensions (DWP) has issued £25 payments for each qualifying seven-day period of sub-zero temperatures across various regions, including Cumbria and Northumberland.