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May 23, 2025

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Energy price cap to cut bills by 7% from July, but households still under strain

4 Mins Read

Energy bills across the United Kingdom will drop by 7% from July 1, following a decline in wholesale gas prices, according to new figures from the energy regulator Ofgem.

The cut to the price cap, announced on Friday, will lower annual bills for a typical household paying by direct debit to £1,720 — a modest but welcome reduction amid the broader cost-of-living squeeze that continues to grip the country.

The move marks the end of a series of quarterly price increases, but energy bills are still expected to remain elevated by historical standards.

While consultancy Cornwall Insight does not anticipate a dramatic hike in the coming winter, it has forecast only a minimal rise in the next price cap review, suggesting little relief ahead for households already struggling.

Bills remain well above pre-crisis levels

Despite the latest cut, energy bills remain significantly higher than in previous years.

In 2019, the first year Ofgem introduced the price cap, the average annual bill stood at £1,137.

Today’s adjusted figure of £1,720 represents a 51% increase over six years.

Ashton Berkhauer, energy expert at MoneySuperMarket, said the figures highlight how entrenched the rise in energy costs has become.

“Even after this drop, we’re a long way from what was once considered normal,” he noted.

Many households are still grappling with the effects of the energy crisis that began several years ago, compounded by the COVID-19 pandemic and the war in Ukraine, both of which caused steep spikes in gas and electricity prices.

Despite Prime Minister Keir Starmer’s election pledge to tackle soaring energy costs, bills today remain roughly 10% higher than when Labour took office.

Source: The Guardian

Ofgem urges households to shop around

Ofgem acknowledged that while the 7% drop in the cap is a positive step, prices remain high by historical standards.

Tim Jarvis, Director General of Markets at Ofgem, advised consumers to consider alternative tariffs or speak with their current providers to secure better deals.

“You don’t have to pay the price cap,” he said. “There are better deals out there. Changing your payment method to direct debit or smart pay-as-you-go could save up to £136 a year.”

Jarvis added that longer-term reforms are needed to stabilise prices and achieve energy security.

“We’re working closely with the government to get the investment we need to reach our clean power and net zero targets as quickly as possible,” he said.

Pressure builds on government amid volatile energy market

The government has come under renewed pressure to provide more targeted support for low-income and vulnerable households, with experts warning that wholesale prices remain highly sensitive to geopolitical and economic shifts.

Though British gas prices have fallen nearly 30% since the start of the year, they have edged upward again in recent weeks, highlighting the market’s inherent volatility.

Cornwall Insight attributed the most recent drop in prices to several short-term factors, including warmer-than-average temperatures and international developments such as the easing of European gas storage regulations and newly announced US trade tariffs.

Dr Craig Lowrey, principal consultant at Cornwall Insight, cautioned that relief may be fleeting.

“This fall in the price cap is undoubtedly welcome news for households, offering a degree of relief at a time when many are grappling with high living costs,” he said.

But while it’s important to celebrate the small wins, the energy market remains unpredictable. Global events can quickly reverse the current trend.

Energy suppliers, too, have warned against assuming the worst is over.

EDF Energy said that the market remains “incredibly volatile” and that further action is needed to support the most at-risk customers.

The company urged the government and regulator to implement long-term solutions to insulate the UK energy system from international price shocks.

Other utilities add to household cost burden

While energy prices are set to fall in July, water bills have surged sharply.

From April, average water bills in the UK increased by 26% — the steepest annual rise on record.

The rise has been attributed to investment in critical infrastructure and efforts to tackle the growing public backlash over water leaks and sewage pollution.

These parallel increases have left households facing a broader utility squeeze, even as headline inflation begins to stabilise.

The post Energy price cap to cut bills by 7% from July, but households still under strain appeared first on Invezz

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In Business

Burger King targets families through movie partnerships in latest stage of turnaround

6 Mins Read

As Burger King enters the next phase of its turnaround efforts, the fast-food chain is trying to lure families back to its restaurants with colored Whopper buns and kid-friendly movie partnerships.

Starting Tuesday, the Restaurant Brands International chain will sell new menu items inspired by the “live action” remake of “How to Train Your Dragon.” The collaboration is more than just a one-time partnership — it’s part of Burger King’s broader strategy to lift U.S. sales.

“Where we’re really starting to lean in now that we’ve made some progress in both operations and in our restaurants is on a family-first marketing strategy,” Burger King U.S. and Canada President Tom Curtis told CNBC.

Burger King’s U.S. business has been in turnaround mode for more than 2½ years. After falling behind burger rivals McDonald’s and Wendy’s, the company announced plans to invest hundreds of millions of dollars in a comeback strategy to renovate its restaurants, improve its operations and spend on advertising. The chain even bought its largest U.S. franchisee with the goal of accelerating its restaurant remodels.

“We’re finding that there will be chapters to this as we go through time, and right now is this family strategy chapter, where we’ve done enough work and transformed our restaurant operations to the extent that we’re proud of,” Curtis said. “We’re inviting families back in, and we’re finding that we’re getting better retention when they do come back in.”

Curtis said focusing on families gives Burger King the opportunity to attract customers across age cohorts, from millennials to Generation Alpha, which is roughly defined as people born between 2010 and 2025. Plus, parents’ avid use of social media means that word spreads quickly, giving the approach a leg up compared with targeting a single demographic that isn’t as enthusiastic online.

The limited-time themed menu items include the Dragon Flame-Grilled Whopper, with a red and orange marbled bun; Fiery Dragon Mozzarella Fries, made with Calabrian chili pepper breading; Soaring Strawberry Lemonade; and the Viking’s Chocolate Sundae, with Hershey’s syrup and black and green cookie crumbles.

Movie collaborations aren’t anything new for fast food — or Burger King. It was one of the first fast-food chains to lean into movie tie-ins. In 1977, the chain sold “Star Wars” drinking glasses ahead of the film’s release.

McDonald’s wasn’t far behind, following with a Star Trek-themed Happy Meal two years later, kicking off decades of movie, TV and toy tie-ins aimed at kids. More recently, the Golden Arches’ collaboration with “A Minecraft Movie” across more than 100 markets sold out within two weeks in the U.S., about half the time earmarked for the promotion.

In Burger King’s more recent past, under Curtis’ leadership, the chain has had two major partnerships: one with “Spider-Man: Across the Spider-Verse” two years ago and another with the Addams Family franchise, timed for Halloween last year.

Both of those menus featured Whoppers with thematic, colored buns, dyed using natural colorants, like beet juice or ube.

“Not having artificial dyes and colors is something that’s been important to us for a while,” Curtis said.

Burger King use of natural dyes comes as artificial food dyes have come under fire from health-concerned parents. Following a push from Health and Human Services Secretary Robert F. Kennedy Jr., the Food and Drug Administration recently announced plans to phase out the use of petroleum-based synthetic dyes in food and drinks.

The two previous collaborations also were Burger King’s top-selling Whopper innovations, based on the number sold, according to Curtis.

“What we found in the Addams Family promotion specifically was, as we dug into the property, traffic was fairly flat, but sales were up,” he said, attributing the sales growth to families, which have a higher average check than a solo diner or a couple.

The expected sales lift from the “How to Train Your Dragon” menu comes at a crucial time for Burger King.

In its most recent quarter, the company’s comeback stumbled. The chain’s U.S. same-store sales slid 1.1%, mirroring an industrywide slump as fears about the economy and bad weather kept diners at home.

But Curtis is confident that Burger King is on the right track, pointing to the chain’s relative outperformance compared with its two biggest competitors: McDonald’s and Wendy’s.

“I know that they’re scrambling, and sometimes, frankly, copying some of the things that we do, which, you know, plagiarism is the sincerest form of flattery,” he said. “When we see them doing that, it gives us more conviction to stay on course.”

When the live-action version of “How to Train Your Dragon” hits theaters on June 13, it’s expected to be one of the summer’s big blockbusters. After all, the animated trilogy has grossed more than $1.6 billion worldwide.

Burger King has similar expectations for its menu tie-in.

The past success of the Spider-Verse and Addams Family menu items pushed Burger King to “dramatically” up its forecast for the “How to Train Your Dragon” menu, according to Curtis. And Burger King is also planning on changing its advertising strategy, which could drastically increase demand for the Dragon Flamed-Grilled Whoppers.

“In the past, we would just kind of associate ourselves with the movie property, but we wouldn’t necessarily advertise the association — you’d just see it and hear about it in social media,” Curtis said.

The promotion is supposed to run through early July, but in case Burger King burns through its supply in just three weeks, the chain is prepared to monitor what locations have run out of the menu items. That’s a lesson it learned during its Spider-Verse promotion, when it had to launch a tracker on its website to help customers find the coveted Whopper.

As it learns from every experience, Burger King is planning to dive deeper into franchise partnerships, betting that the extra effort will drive long-term loyalty for the brand.

“We’re doing a couple more of them than we have in the past,” Curtis said. “We’ve got one toward the end of the year that we’re very, very excited about … and we’re getting some lined up for next year as well. In every one of those, we’ll go all in.”

Disclosure: Comcast owns CNBC and Universal Studios, the producer and distributor of “How to Train Your Dragon.”

This post appeared first on NBC NEWS

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In Politics

23andMe bankruptcy prompts Cornyn-Grassley-Klobuchar bipartisan bill to protect sensitive genetic data

4 Mins Read

: Republican senators John Cornyn and Chuck Grassley and Democratic Sen. Amy Klobuchar are rolling out a bipartisan measure to protect sensitive genetic data in response to privacy concerns sparked by 23andMe’s bankruptcy, Fox News Digital has learned. 

Cornyn, R-Texas; Grassley, R-Iowa; and Klobuchar, D-Minn., are introducing the Don’t Sell My DNA Act, which would safeguard customers’ sensitive genetic information when an entity that maintains data files for bankruptcy. The bill would add genetic information to the definition of ‘personally identifiable information’ in the bankruptcy code. 

Under current law, the bankruptcy code provides protections for personally identifiable information in bankruptcy court proceedings to prevent the possibility of identity theft, harm or other unlawful injury. 

Senate aides told Fox News Digital the current definition of personally identifiable information includes an individual’s name, address, email, phone number, Social Security number, credit card numbers and other information that could be used for identification purposes. 

Those aides said the definition is ‘outdated’ and does not include a reference to genetic information, leaving the information vulnerable.

‘This legislation would solve this problem by updating the definition of ‘personally identifiable information’ in the bankruptcy code to include genetic information,’ a Senate aide said. 

The bill also addresses consumer privacy concerns by having consumers affirmatively consent to the sale or lease of their genetic information after a bankruptcy case commences and requiring companies to provide prior written notice of the use, sale or lease of their genetic information during bankruptcy. 

The bill also requires the trustee or debtor in possession to delete any genetic information not subject to a sale or lease. 

‘Advances in DNA testing have allowed Americans to have unprecedented access to important insights about their genetics, but these companies must have a plan to protect this data in the event of bankruptcy,’ Cornyn told Fox News Digital. 

‘By updating the bankruptcy code, this legislation would safeguard Americans’ sensitive genetic information to ensure it cannot be weaponized against them or made public without their knowledge and consent.’

And Klobuchar said companies ‘have profited off of Americans’ data while consumers have been left in the dark, which is especially concerning in light of reports that 23andMe plans to sell customer genetic data assets to a large pharmaceutical company.’ 

‘This bill will put new protections in place to safeguard Americans’ privacy while giving consumers greater control over how their sensitive health data is shared,’ Klobuchar said. 

Grassley told Fox News Digital consumers should ‘feel confident that any personal nformation shared with a public company isn’t up for grabs when that company files for bankruptcy.’

Grassley told Fox News Digital the bill ‘would fill gaps in current law to help safeguard consumers’ genetic information and ensure Americans’ DNA isn’t treated like any other financial asset.’ 

On Monday, 23andMe announced Regeneron Pharmaceuticals would purchase 23andMe through a bankruptcy auction. 

Senate aides said Regeneron promises to ‘protect consumer information, but the data privacy concerns for future bankruptcies remain.’ 

The genetic testing company 23andMe, once a pioneer in consumer DNA testing, filed for Chapter 11 bankruptcy in March amid financial struggles, a leadership shakeup and growing concerns about the security of its customers’ genetic data.

Regeneron Pharmaceuticals announced it will acquire ‘substantially all’ of genetic testing company 23andMe’s assets.

The pharmaceutical company said it won the court-supervised auction of the genetic testing company, with Regeneron agreeing to pay $256 million for the assets. The auction for 23andMe was part of the Chapter 11 bankruptcy protection it filed in March to arrange a sale of its business.

In its bankruptcy petition, the company estimated a range of $100 million to $500 million for its assets. Estimated liabilities were the same. 

The pharmaceutical company is buying 23andMe’s personal genome service and its health and research services segments, according to 23andMe. 

This post appeared first on FOX NEWS

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