than £300 a year, or 16%. just a reminder, 0fgem sets this cap every three months, it s the maximum suppliers can charge per unit and these figures represent a typical bill. if you use more, you pay more. let s speak to dr craig lowrey from cornwall insight hejoins is from norwich. given what s going on in the red sea, why are we not going to see a spike? certainly, the situation that we haveis certainly, the situation that we have is that the uk market and the european market is being relatively well supplied by liquefied natural gas from america, coming straight across the atlantic and as a consequence, what is occurring in the red sea is not currently affecting uk or european supplies. energy plays quite a big role in inflation this looks like the cost of living could really start to ease for people? what we saw when the price cap fell previously, there was the consequential drop in inflation so one can expect that would happen again and we would see energy bills feed
from £1,900 a year or so tojust £1,620 from april. that s a fall of more than £300 a year, or 16%. just a reminder, 0fgem sets this cap every three months, it s the maximum suppliers can charge per unit and these figures represent a typical bill if you use more, you pay more. we spoke to dr craig lowrey from cornwall insight and asked him why the situation in the middle east isn t pushing up energy prices. the situation we have is that the uk market and indeed the european market is being relatively well supplied by liquefied natural gas cargoes from america, so that is just coming straight across the atlantic and, as a consequence, what is occurring in the red sea isn t currently affecting uk or european suppliers. energy, of course, plays a big role in that basket of goods that adds up to inflation. this good news obviously, does this look like the cost of living is starting to ease now? can i tell my wife she can put the heating back on? well, certainly what we saw wh
we start here in the uk with a very rare piece of good news about the cost of living because for people in england, scotland and wales, average energy bills are set to fall by hundreds of pounds this summer. the uk energy regulator ofgem is about to release its latest price cap the maximum amount suppliers can charge the average household. because the cost of energy has fallen sharply on global markets, that cap is expected to come down from july, saving the typical household annually around £450. hannah miller has been talking to energy users in the east of england who have been struggling to pay their energy bills. since we last came to suffolk, 18 month old robyn has taken her first steps. and her mum, claire, has been trying to keep the family bills under control. we first met in august, when claire was already cutting back on her electricity use. i am terrified that, when the winter comes, we re not going to have enough for the bills. since then, energy prices hav
let s get down to business. an australian firm recharge industries has come to the rescue and bought the battery maker britishvolt out of administration. the deal is expected to be announced shortly. britishvolt had plans to build a £4 billion gigafactory near the port of blyth in northumberland, but it ran out of money and collapsed last month. its downfall was blamed on a lack of battery experience, unproven technology, and therefore no customers oi’ revenue. the new owner is another start up. recharge industries is owned and run by a new york based investment fund called scale facilitation. its australian chief executive, david collard, told our business editor simonjack why his company was different. what we re bringing, which is different to the prior britishvolt, is we re bringing validated technology. so that process has already started. us defence has also validated the technology, it s actually already supplied to the uk navy through a subcontractor over here.