Latest news with #householdbills
Daily Mail
01-07-2025
- Business
- Daily Mail
Respite for Brits as energy price cap drops 7% from TODAY with the typical duel fuel bill dipping £129 to £1,720
Struggling Brits are being boosted today as the energy price cap falls by 7 per cent. The typical household bill for those who have still not signed up to a fixed tariff will drop by £129 to £1,720 per year. That is £660 - or 28 per cent - lower than at the height of the energy crisis at the start of 2023, when the government implemented the energy price guarantee. However, the level is still £152 higher than the same period last year. Ofgem 's cap sets the limit on how much firms can charge customers per unit of energy. It is reviewed every three months. But it does not constrain total bills because the costs for households still depends on the amount they consume. While around 35 per cent of domestic customers are now signed up to a fixed deal that they have actively sought out – and which is not governed by the price cap – approximately 22million households in England, Wales, and Scotland are still on the energy price cap. Those households were being urged to read their meter by the end of the month to avoid being charged the higher pre-July 1 rate on estimated bills. Ofgem has also reminded households that they do not have to pay the price cap, saying 'there are better deals out there'. The fall in energy costs will come as a relief for households, who suffered through an 'awful April' of bill rises, including Ofgem's last 6.4% price cap increase. Under-pressure households have also been hit with the biggest increase to water bills since at least February 1988, alongside steep rises across bills for council tax, mobile and broadband tariffs, as well as road tax.
Daily Mail
19-06-2025
- Business
- Daily Mail
'Disrespectful' woman blasted for charging her mother for a simple household task
A woman has received backlash after revealing that she charged her mother £40 to help set up her household bills. Laura Shahu, believed to be from the UK, has 29,000 followers on Instagram where she often posts videos about tips and tricks she's learnt on how to save cash over the years. The mother-of-two recently shared a clip in which she revealed that her mother needed assistance with setting up her household bills and wanted to get her advice on the best rate possible. Laura said: 'Am I greedy for charging my mum £40 for setting up her own bank account for her? I know what you're thinking - what kind of person charges their own mother to help them manage their bills? Well I kind of did and kind of didn't - let me explain.' She said her mother was 'not very tech savvy' and wasn't 'confident' in finding the best value for money when it came to sorting out her bills. She said the pair 'came to an agreement' that led to Laura helping her mother to find the cheapest bills - if she gave her the £40 cashback she earned as a 'thank you'. But some social media users called her a 'joker' and said that she should be willing to help her mother out for free. The content creator explained: 'In return, if I get that deal through a cashback website for her, she would give me the cashback that she otherwise would not have got if she had done it herself. 'In essence, she gets the best rate for her household bills without having to do the work to find it and if the best deal happens to be on a cashback website, I get the cashback that my mum would have otherwise gotten if she had done the work herself. 'We see it as a win-win because she gets confidence in knowing that she is getting the best rate for her bills but doesn't have to spend any time trying to search for it and I get the little bit of cashback to say thank you.' Laura asked for people's opinions on whether they would ask their parents for money in return for helping them with admin tasks. One person wrote: 'That's madness. £40 is hardly anything, your mum birthed you, you joker. Just help her.' Another penned: 'No, no, no this is so wrong after all your mum has done for you. 'Now is the time you should be helping her and showing her how to do things. If she wants to treat you for your kindness that is up to her.' A third said: 'I personally wouldn't, I'd help her and show her and let her keep the £40.' A fourth commented: 'I think this is wrong, I help my mother as much as I can, I would never want anything in return. 'To me, it feels somewhat sad how money-focused you are. Losing values such as respect for elders, family importance and giving back to the parent(s) who raised us. 'Who provided for us for decades. If you feel this is fair and justified - I wonder what morals you have in terms of finances.' But others agreed with Laura and said that she was very fair in asking her mother for the £40 cashback. One said: 'The admin I do for my mum-in-law- I should claim a salary! I just take the hugs.' Another penned: 'No, you are not, this is essentially a referral fee and you are the one referring her. This is no different to you going to a broker and they take the referral fee. 'She doesn't have to go with your choice, but if she does, you earned that cashback, if it's a large amount you may want to split it, but if you are both happy with the deal, nothing wrong with it. 'She's getting the best rate and you get compensation for your time and effort without it costing your mum anything.'
Daily Mail
19-06-2025
- Business
- Daily Mail
Experts give dire warning as annoying housing bill is set to soar this summer
Power bills are rising faster than grocery prices — and experts say it's only going to get worse this summer. Electricity costs jumped 4.5 percent last year — more than double the 2.2 percent rise in grocery prices — and energy analysts warn the surge isn't stopping anytime soon. A mix of soaring natural gas prices, massive utility investments, and a boom in data centers is fueling the spike. And with summer here, the Energy Information Administration predicts Americans will pay about 4 percent more for electricity this season compared to last. Natural gas deliveries to power plants alone are expected to cost 50 percent more through September than they did during the same stretch last year. 'The more we export gas, the more domestic prices will begin to reflect international ones,' Hugh Wynne of Sector & Sovereign Research told the Wall Street Journal.. The average US household is expected to pay $784 in electricity costs between June and September, according to the National Energy Assistance Directors Association — a 4.2 percent increase from summer 2023. The roots of this crisis trace back to the 2022 energy shock following Russia's invasion of Ukraine. While prices briefly cooled, utilities have since raised rates to help cover storm-proofing efforts and wildfire prevention — investments made more expensive by rising labor and materials costs. Homebuyers had already been concerned over fears of an economic downturn before the Energy Information Administration concluded that electricity prices will outplace inflation through next year. Utility rises have also taken its toll on thousands of people like Adam Moore, an Indiana resident who was one of over 2,300 who protested CenterPoint Energy's plans to rise rates. This increased bills by around $5 a month, which the company insisted was needed to cover investments for various things like grid improvements and new solar plants. Meanwhile, data centers are driving a new wave of demand. PJM Interconnection — the nation's largest electric grid operator — expects $9.3 billion in additional costs to be passed on to customers as more data hubs come online. Pennsylvania utility regulators suggested residents consider searching for lower retail rates or conserve energy, since rates are set to rise 5% to 16% at most of its utilities. Even clean energy policy is under pressure. A rollback of tax credits from the Inflation Reduction Act could push electricity costs even higher. Bottom line: with inflation-weary Americans already struggling, experts say power bills will likely keep climbing for at least the next 12 to 18 months. 'On both fronts, there's little reason to believe that ratepayers will see easing pressure on their pocketbooks,' said Akshat Kasliwal of PA Consulting Group.
Yahoo
16-06-2025
- Business
- Yahoo
$300 electricity bill hike looming for millions as price increases confirmed: ‘Inevitable'
Millions of Australian households will face higher electricity prices in the coming weeks. Major retailers AGL and Origin have confirmed their price changes for customers, and some households will see their bills increase by as much as $300 next year. AGL's prices will increase by 13.5 per cent in New South Wales, 7.8 per cent in South Australia, 7.5 per cent in Queensland and 6.8 per cent in Victoria from July 1. NSW customers will see their bills go up by as much as an extra $300 a year, based on medium usage. The average increase across all NSW customers will be $267, according to the retailer. Meanwhile, South Australia customers will see an average $200 increase, Queensland $155 and Victoria $110. RELATED Aussie mum's $1,200 electricity bill shock sparks warning for millions ATO superannuation warning as deadline for $30,000 deduction approaches Rare $2 coins worth up to $350 amid huge spike in demand Origin will raise its prices by an average of 9.1 per cent in NSW, 5.5 per cent in South Australia, and 3 to 4 per cent in Queensland. Electricity charges for Victoria have not been locked in yet, but gas will cost the average Victorian household an additional $85 a year. Aussie households will receive letters and emails from their energy retailers over the coming weeks ahead of price changes coming into effect from July 1. It follows the decision by the energy regulators to increase the majority of default prices for the year, which will see standard energy plans rise by up to $228. These are contracts offered to customers who can't or don't shop around. While only 10 per cent of customers are on default offers, retailers use the default pricing as a benchmark for their market contracts. The latest price hikes have been blamed on increased network charges, higher costs to serve customers and higher wholesale electricity expenses. The federal government has extended its energy bill relief until the end of the year, with the first $75 quarterly instalment to hit accounts from July 1. The price hikes follow two years of price increases across most networks, with the average annual electricity bill increasing by as much as $360 since June 1, 2023. Canstar data insights director Sally Tindall has urged households to shop around. 'The cold hard truth is that electricity price hikes are pretty much inevitable in states such as NSW, Queensland and South Australia this winter after the regulator approved hikes to the reference prices across all networks in these states,' she said. 'The exact costs for your daily supply charge and electricity rates are up to each provider, however, unless you're on an embedded network or in a state where there are limited options, this is one bill you can, and should, take control of.' Tindall said the reference price could be a good starting point, with providers required to tell you where the cost of your plan sits in relation to it. The greater the difference a plan is below the reference price, the more competitive it is. 'In Sydney, single rate plans are, on average, 7 per cent lower than the reference price, however, there are plans available that are up to 23 per cent lower than the regulator's benchmark,' she said. 'In Brisbane, the gap is even wider, with the average discount listed at 6 per cent, while the highest is 27 per cent.' Australians can use the Australian Energy Regulator's Energy Made Easy comparison website to compare prices. Victorians can use Victorian Energy Compare.
Daily Mail
24-05-2025
- Business
- Daily Mail
Slash your household bills by investing in the very firms that keep on hiking prices
The cost of living has surged again, driven up by a sharp rise in household bills last month. So called 'Awful April' brought a barrage of bill hikes on everything from energy and water to broadband bills and car tax. Council tax bills increased £109 on average, energy bills by £111, water bills by £123, and £50 was added to the typical annual phone and broadband bill. That drove inflation up to 3.5 per cent, official figures confirmed last week. But for investors willing to do their homework, there is an innovative way to get help with the rising cost of all the essentials. Investing in the companies that are raising your bills could be an effective way to earn an income large enough to cover what they charge you. Dan Coatsworth, from the investment platform AJ Bell, says: 'Most of the companies on the stock market charging us these bills pay generous dividends – you could buy their shares and use the income payments to settle up. In doing so, you are effectively handing them back their own cash.' Of course, it may not make sense to buy shares in companies just because you are their customer. But there can be opportunities among firms that provide these basic household services, such as energy and insurance. Here, experts suggest their top picks in each category – and how much you would need to invest to cover your bills, although of course you could buy less to cover part of them. Energy bills The energy price cap, which dictates the maximum households can be charged for each unit of gas and electricity, increased by 6.4 per cent in April, bringing the typical annual bill to £1,849, although it will fall again by £129 a year in July. Centrica, which owns British Gas, yields 3 per cent, and SSE, which supplies about five million British households, 3.6 per cent. You would need to invest about £50,000 in the latter to generate a large enough dividend to pay your annual energy bill. Charles Luke, manager of the Murray Income investment trust, points to National Grid as one reliable dividend payer in the energy space. 'It is a very solid business and benefits from the fact that we need to invest in our infrastructure as part of the energy transition,' he says. Shares currently yield 4.5 per cent. Mr Coatsworth suggests looking beyond the major providers to Telecom Plus, which owns the Utility Warehouse brand and yields a healthy 4.8 per cent. An investment of about £38,500 would generate enough income to cover the bills. Insurance A typical car insurance policy now costs £589, and for home buildings and contents insurance you can expect to pay £393, according to the Association of British Insurers. That's a combined annual insurance bill of £982 on average. At 2.4 per cent, Direct Line's dividend yield is nothing to write home about. Admiral, which insures about 5.7 million cars in the UK, looks more interesting, with a yield of about 4.4 per cent. Aviva yields a chunky 6.5 per cent. An investment of £9,100 would produce a dividend large enough to cover the average car insurance premium. Meanwhile, a £6,250 investment in Mony Group, which owns the comparison site MoneySuperMarket and yields 6.3 per cent, could generate enough to cover the home insurance. Phone and broadband Mid-contract price hikes meant some customers saw their phone and broadband bills increase by as much as 7.5 per cent in April. Vodafone shares currently yield a hefty 8 per cent, but such a high yield raises questions about sustainability. The yield is a company's dividend expressed as a percentage of its share price, so when the share price falls, the yield rises. This might look attractive but isn't necessarily. Vodafone shares are down 9.6 per cent over the past year, and down 42 per cent over five years. Remember in general that high yields are not the only measure to look out for – you'll need to do your research to make sure you understand the business. A company may look like it's offering a great deal, but have a systemic problem that means future earnings could be lower than expected. Simon Gergel, manager of the Merchants investment trust, says: 'Focusing specifically on yield can be quite dangerous, and some of the highest yielding stocks can be value traps.' One helpful indicator to give you an idea of whether the annual payout could be cut in future is the dividend cover ratio. This indicates how many times over a company can afford to pay its dividend. Anything below one suggests a firm is borrowing to fund its payout, which can be a sign of trouble. Ben Kumar, from the wealth manager 7IM, adds: 'Remember also that dividends are not guaranteed. Companies can, and do, cut them. Shares in the telecoms giant BT yield 5 per cent. An £11,000 investment could bring in enough to cover the typical £550 annual cost of phone and broadband. Water Water bills leapt by 26 per cent in April, bringing the average annual cost to £603. Getting a water meter can help reduce that, particularly if there are fewer people in your property than it has bedrooms. Alternatively, you could make the water providers pay for you. Severn Trent, which serves about 4.6 million UK households, yields an attractive 4.5 per cent. Dan Coatsworth prefers United Utilities, which yields a fraction more at 4.6 per cent. A £13,100 investment could produce enough income to do the job. Mr Kumar says: 'While dividends tend to keep pace with broad inflation over time, that is different to the specific inflation on your bills. 'Overall inflation is 3.5 per cent right now, but water bills just went up 26 per cent – so you might have to invest considerably more in the future to ensure your dividend income keeps pace with increases.' Spread your risk Cherry-picking individual stocks can be risky, so you might feel more comfortable letting a professional do the work. Income funds can provide a reliable dividend while spreading their risk across dozens of different stocks. Murray Income Trust is a so-called Dividend Hero – a fund that has increased its dividend for at least 20 consecutive years. Its top holdings include National Grid, HSBC, and BP, which is good news for those worried about petrol prices. It yields 4.55 per cent. Merchants Trust, which has increased its dividend for 43 consecutive years, yields 5.4 per cent and its top holdings include Lloyds Banking Group and SSE. How it works When you buy shares in a company you get a vote at the firm's annual general meeting and you share in its profits. Your money could grow if the company share price rises – or your investment could fall if the share price goes down. But on top of this when a business is profitable it rewards shareholders with a payout called a dividend. The amount is expressed as a percentage. So if you invest £1,000 in a company and it pays a 5 per cent dividend, you'll get £50. When you get a dividend you can choose either to reinvest it or take the money as cash.
