Reforms to energy tariffs could leave consumers struggling to find the best deal, says Which?, but the regulator argues the changes have been misrepresented.
Here is the original post: New energy tariffs ‘still confusing’
Category : Business
Energy regulator Ofgem has unveiled proposals to force suppliers to tell customers about the cheapest gas and electricity tariffs they have on offer.
Follow this link: VIDEO: Ofgem plan for simpler energy tariffs
Downing Street insists it will press ahead with legislation to require electricity companies to offer cheapest tariffs
Go here to see the original: Martin Rowson on the government’s approach to energy policy – cartoon
Category : Business, World News
The World Trade Organisation upholds its decision that China’s tariffs on imports of certain US steel products are illegal.
Read this article: China loses US steel tariff plea
Centrica-owned company – which serves about 12m homes – expected to raise prices on Friday
Millions of Britons face another rise in household bills with British Gas, the UK’s largest energy supplier, set to announce a rise in its gas and electricity prices.
The Centrica-owned company, which serves about 12m homes, could announce as early as Friday that charges will rise in the high single percentage digits.
The average British Gas annual dual-fuel bill for gas and electricity is £1,260 – meaning a 5% increase would add £63 a year, while an 8% rise would put on £100.
A British Gas spokesman said: “We do not comment on future pricing movements. We do not comment on speculation about future pricing movements.”
Rival SSE is preparing to increase tariffs by an average of 9% on Monday, hitting about five million electricity customers and 3.4 million gas customers.
British Gas put gas and electricity tariffs up by 18% and 16% respectively in August 2011, blaming higher wholesale costs, but this was followed by a drop of 5% in electricity tariffs in January when prices eased.
The supplier is expected to say it has been forced into the move by higher wholesale prices and the rising cost of using the National Grid network.
British Gas warned in May that its costs were rising, with wholesale gas prices 15% higher for the coming winter and other charges set to add about £50 to the cost of supplying households this year.
But there was outrage in July after it announced a 23% leap in profits, admitting last year’s price rises helped it rack up operating profit of £345m in the first half of the year.
Caroline Flint, Labour’s shadow energy and climate change secretary, said people would “not understand why British Gas are putting prices up”.
She said: “Unless ministers get to grips with spiralling energy bills, people will rightly think that this government is completely out of touch with families and pensioners struggling to make ends meet.”
Other big suppliers – including EDF, Scottish Power and nPower – are now expected to follow suit and announce higher prices. E.ON is the only supplier to guarantee a price freeze for 2012.
Further utility bill increases will hit the Bank of England’s inflation forecasts, which predicted a gradual slide in the consumer price index rate towards the end of the year and into 2013.
Category : Stocks
Leaders at the Asia-Pacific Economic Cooperation (APEC) summit in Vladivostok in Russia promise to increase forex flexibility and liberalize trade. APEC, which includes the U.S., China and Japan, will cut tariffs on green-tech, while it also pledges not to limit food exports despite droughts in Russia and America. 
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Category : World News
U.S. companies are having to cope with an estimated tax bill of $100M following the Commerce Department’s imposition in May of provisional antidumping duties of 31%-250% on Chinese-made solar panels and making the tariffs retroactive by 90 days. The companies are pinning their hopes on the department or ITC overturning the retroactive element of the taxes. Post your comment!
Go here to see the original: U.S. companies are having to cope with an estimated tax bill of $100M following the Commerce Department’s imposition in May of provisional antidumping duties of 31%-250% on Chinese-made solar panels and making the tariffs retroactive by 90 days. The…
Category : World News
The US says it will impose import tariffs of about 30% on Chinese solar companies, saying China is flooding it with subsidised products.
Continue reading here: US puts tariffs on Chinese panels
The U.S. Commerce Department announced stiff tariffs on Chinese-made solar panels Thursday, a move critics said could raise costs for consumers and further inflame trade tensions with Beijing.
See the original post here: U.S. slams Chinese solar panels with new tariffs
Category : Business, World News
The small energy supplier Ovo is putting up some its tariffs in response to higher wholesale gas prices.
Read the original post: Ovo reverses cut in fuel tariffs