London Daily

Focus on the big picture.
Friday, Aug 01, 2025

UK Energy Prices to be Lowered, Electric Car Owners to Benefit

UK Energy Prices to be Lowered, Electric Car Owners to Benefit

The energy price cap in the UK will be lowered, which will result in an average household saving £426.
Electric car owners will also benefit from the reduction, as the cost of charging their vehicles will decrease.

However, for those travelling beyond the range of their vehicle and rely on rapid and ultra-rapid chargers, the cost is much higher due to the 20% VAT applied to these charge points.

Octopus Energy is bringing back its Saving Sessions scheme this winter to help smart meter customers save energy and money.

The scheme will reward customers for reducing energy usage during peak periods and will donate a portion of the earnings to the hardship fund.

Edinburgh Airport workers have voted to take strike action in a dispute over pay, which could lead to travel chaos during the summer.

Workers at a soft drinks plant are also planning to strike over pay, with Unite members voting for a series of strikes.

The cost of wholesale energy has been rising due to the recent conflict between Russia and Ukraine.

This has resulted in higher energy costs, causing fuel poverty to become a mainstream experience for many families.

Despite the government's efforts to mitigate the impact with its energy support scheme, prices have still more than doubled in the past two years.

The cost to suppliers of buying energy has fallen, but this reduction will not be felt by consumers until the summer as companies purchase their supplies in advance.

While prices have stabilized, bills are still high.

In other news, Heathrow security guards have launched a three-day strike over pay.

The average price of a litre of unleaded fuel has fallen to 143.35p, down from 146.89p last month.

However, diesel remains overpriced.

Smaller lenders have temporarily withdrawn mortgage deals and repriced offers for new customers due to a jump in UK borrowing costs.

Car production has increased for the third month in a row as shortages of supplies have continued to ease.

This week's savings deals from Moneyfactscompare.co.uk include Chip's Instant Access powered by ClearBank with a 3.75% rate, an improved 5.00% rate from Investec Bank Plc's 1-Year Fixed Rate Saver, UBL UK's 1 Year Fixed Rate Cash ISA at 4.35%, Gatehouse Bank's Easy Access Cash ISA with a 3.55% rate, and NatWest's 2 Year Fixed Rate ISA Issue 323 at 4.50%.

Savers can find attractive deals with competitive rates and flexible options, such as unlimited withdrawals and tax-free ISA savings.

Minimum opening amounts vary per deal.
Newsletter

Related Articles

0:00
0:00
Close
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
×