A new forecast from consultancy firm Cornwall Insight suggests that annual energy bills for a typical household in the UK could rise by £73 in January. According to the prediction, bills might increase to £1,996 under the official price cap set by the UK’s energy regulator Ofgem. The energy price cap limits how much suppliers can charge households for each unit of energy they use. Cornwall analysts attribute the anticipated rise in January to increases in wholesale energy prices.

This projected increase follows a period where millions are expected to see energy bills fall from October 1, as the next price cap comes into effect. From October to December, a typical dual-fuel household will pay £1,923 a year, down from £2,074 in the previous three-month period. However, despite this decrease, some government support that aided bills last winter has been withdrawn, and bills remain notably higher than in 2021.

In a dynamic development impacting the US auto industry, the United Auto Workers (UAW) union is expanding a strike at major car firms, including Ford and General Motors. Union boss Shawn Fain announced that an additional 7,000 staff at these factories are set to join the ongoing strike, entering its third week. The dispute revolves around issues of pay and benefits, involving approximately 18,000 workers and casting a shadow over the US economy. Both President Joe Biden and former President Donald Trump have addressed the matter, reflecting its national significance.

Meanwhile, in the UK, Prime Minister Rishi Sunak is reportedly considering removing the winter fuel allowance from all but the poorest pensioners. This potential move aims to offset the costs associated with maintaining the pension triple lock, a key electoral pledge. Sky News reports that Prime Minister Sunak recognises the political importance of the triple lock and is exploring ways to manage its costs. The winter fuel allowance could be retained only for pensioners receiving pension credit, according to proposals being considered.