price cap

The EU approved its 21st sanctions package against Russia, allowing member states to confiscate and sell crude oil from Russia’s shadow fleet. The package freezes the Russian oil price cap at $44 per barrel and expands sanctions to 218 new entities, including measures against crypto-asset services used for sanctions evasion.

EU countries agreed on a 21st sanctions package against Russia, resolving a dispute over a proposed ban on shipping Russian gas to third countries by creating a limited exemption for pre-invasion contracts. The bloc also froze its price cap on Russian crude oil at $44.10 a barrel for 12 months, while Greece had resisted the gas export restriction.

Energy bills in the UK increased by £221 to £1,862 due to a new price cap. Experts advise consumers to check their meter readings and compare deals to find the best options.

Ministers are urged to address energy costs as Great British households face a 13% increase in energy bills starting 1 July, with the annual cost rising to £1,862. Consumer energy debt has reached record highs amid the surge.

UK household energy bills will increase by 13% starting July, reaching a two-year high of £1,862 annually due to Ofgem's price cap adjustment.

Energy bills in the UK will increase by 13% to £1,862 annually starting July, with further rises expected in October. The price cap hike will significantly impact consumers, making energy costs more burdensome.

Households in Great Britain face rising energy costs under the government's price cap, with typical bills expected to increase by £209 annually. This surge has sparked calls for ministers to address utility bill 'anxiety' as families struggle with rising essentials prices.

British Gas has introduced a fixed energy tariff priced £250 below the predicted July price cap, offering consumers a cost-saving option. However, the tariff has limited availability, requiring prompt sign-ups.