The government has announced plans to scrap fixed daily standing charges on gas bills, calling them an "unfair and outdated" practice that could save millions of households hundreds of pounds annually. The chancellor will ask the energy regulator, Ofgem, to remove the fees—currently costing households around £108 per year—either in 2027 or shortly afterward. The move, set to be detailed in the upcoming budget, aims to ease financial pressure on two-thirds of homes by cutting energy costs. Critics may question whether the change will fully address rising energy expenses amid broader economic challenges.
As budget looms, chancellor says he will ask Ofgem to remove ‘unfair and outdated’ fixed daily fee in 2027 or soon afterBusiness live – latest updatesJohn Healey is abolishing standing charges on gas bills for 23m homes in a move he says will end an “unfair and outdated” practice and save two-thirds of households an average of £45 a year.Ahead of his first budget statement in the Commons later on Wednesday, the chancellor said he would ask Ofgem, the energy regulator for Great Britain, to remove these charges – which are £108 a year for the typical household – next year or as soon as possible after. Continue reading...
